What do you think about Bitcoin ATMs?

[Bitcoin ATM Project]

Thanks for all the feedback everyone hopefully our project succeeds (placing ATMs across the United States - at least one in every county)

[Quietman]

Bitcoin ATM is a good idea indeed. Though I never used one because there's no bitcoin ATM in our country. But I would love to try, hopefully if this was implemented in the future, the fees wont be that big or hopefull it is the same with fiat atm, no fees needed.

[btcdepo]

I used once just to see what it is like. interface is very user friendly, idea is great but transaction fees are expensive. I would rather use local network to cash out.

[ultimatesky]

Thanks for all the feedback everyone hopefully our project succeeds (placing ATMs across the United States - at least one in every county)

I hope it will, but remember Bitcoin will continue to grow and with that hurdles will come. No matter what you encounter stay strong. Because projects like this will contribute to the adoption and branding of our beloved bitcoin.

[michellee]

I am not seeing any bitcoin ATM right now because in my city there is chance for placing this machine but I think soon if there is many people is join with bitcoin, then maybe there will be bitcoin ATM. I guess I will waiting until there is any statement from my government about bitcoin legality so there is third party like local exchanges or local seller is trying to place bitcoin ATM in every place on my city. but I curious how the feel when we using this machine and how much the fee to make a transaction.

[Jaydeepjani]

I haven't still heard of Bitcoin ATMs but I would surely be interested to see these ATMs as it would make the cash withdrawals easier for those who have bitcoins

[Xester]

Bitcoin ATM is a good idea indeed. Though I never used one because there's no bitcoin ATM in our country. But I would love to try, hopefully if this was implemented in the future, the fees wont be that big or hopefull it is the same with fiat atm, no fees needed.

Well, there are fees when you withdraw cash on ATM's that are not their banks.  Bitcoin ATM just like what you said is a really good idea since it will not let people who uses bitcoin an opportunity to withdraw, transfer, pay and even sell their bitcoins but it will make sort of advertisement.  People will be curious on what bitcoin is because there is atm designated only for bitcoins.

[Harlot]

I think that you should avoid it as much as possible. Bitcoin ATMs are businesses and therefore you are really not getting the real value out of your Bitcoin as its prices are in favor of the Businessmen. Although atms are convenient for people you will be on the losing side. Selling your Bitcoin with a real person is really the way to go. Make Bitcoin ATMs as your last resort when it comes to converting your currency.

[A.nayem]

#This is exactly right. Most of their utility is in advertisment; the actual ability to dispense Bitcoin is just secondary. I mean, I guess they're nice for when you need Bitcoin in a pinch, but that should barely ever happen. Everyone has internet everywhere nowadays, and exchanges offer much better rates.

[nareshrohra]

I noticed one when I was travelling. They are good if the fees is lower. They can also be used for "money muling". So, I had think it would be tough for them to be regulated.

[trade.io]

That is a good, much needed idea that could become an everyday reality at some point.
Caution must of course be exercised in regards to security as well as exchange rate provided should be taken into account.

[Tukang Becak]

I think this is a good idea, the presence of bitcoin ATMs will make it easier for users to take money directly without having to go through the exchanger, the system works maybe when we first entered it looks the exchange rate 1 BTC.

[Hamilcar]

I never experienced one of them since it's nit available in my country. I think it could be useful in some countries when people don't have big choices to buy and sell bitcoin.

[Coffee135]

In my country there is a bitcoin ATM but I think it's a good thing. People can cash out their bitcoins without registration in the Bank. But I think that the government will lay the price in taxes and therefore to withdraw cash from these ATMs will not be very profitable. Can anyone say what is the exchange rate at ATMs?

[Titanos]

I think Bitcoin ATM is useful specially for people who can't spend their bitcoin in other places.

[q835197677]

Unfortunately, I don't have this BTC ATM around me.If so, I'd be happy to try it.But I'm hopeful that BTC ATM is a step forward and a great one.

[criz2fer]

I used one when traveling because I knew about it and just wanted to try it.
I already knew about the astoundingly high fees and for that reason I would never use it again. The fees are ridiculous, so I just used it for the experience, which wasn't bad.

Yet there aren't many people who know about Bitcoin and they need to cover their expenses somehow, it's not like they can do anything else.
Otherwise I agree with the idea and I find Bitcoin ATMs very convenient, but as I said they should have reasonable fees. The one I used was around 15-20%.

That was a big hell of a fee for an ATM machine. I think they should have a fix fee for this kind of transactions which are evidently useful to every bitcoiners around the world.  It would be nice if other altcoin will be available on it rather than trading from people to people.

[Mame]

Have you ever used one? What were the fees and the experience like, and would you use one again? Is there one nearby where you live?

In my country we do not have bitcoin ATM, but I am looking forward that we can have bitcoin ATM so we can easily dispense our bitcoin earning. And I am hoping if the time will come that we will have Atm, the transaction charge will not be that big.

[bitcoinmasterlord]

Unfortunately, I don't have this BTC ATM around me.If so, I'd be happy to try it.But I'm hopeful that BTC ATM is a step forward and a great one.

Now some countries are restricting to use bitcoins in ATM. i think now only the Europian countries people have access to withdraw bitcoins in ATM for other countries they are restricted. This news i saw in some articles, but i am not sure it is correct or not. Even i am also waiting to this bitcoin ATM in my country.

[waynechong1995]

Only a few scattered in my country, basically it's just exchanging your Bitcoin to another company that wishes to own it more. I think they are hardly sustainable as licensing such businesses and remain profitable is difficult when local banks are dominant. Maintaining a large cash flow to restock these ATMs is one of the major problems, not to mention the operational costs which might crumble their owners if Bitcoin's price is down. Digital money is meant to be used digitally and such ATM's implement wouldn't fit well.

I wish these ATM are able to support other currencies as well, maybe depositing cash for purchasing BTC with a receipt and claim it online would be lovely.