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vy99
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August 07, 2018, 05:37:56 PM
 #1

Anyone here use a Bitcoin ATM anywhere? What was your experience like with them?

I saw these two articles that talk about the popularity of these ATM's and how much they're growing every day.

https://coinatmradar.com/charts/?utm_source=The+Daily+Bit&utm_campaign=920580fa66-EMAIL_CAMPAIGN_2018_08_07_01_35&utm_medium=email&utm_term=0_74539b8bec-920580fa66-38042251#by-country

and

https://bitcoinist.com/the-future-of-cryptocurrency-atms-has-arrived/

My other question is if people are worried about the security of these things.

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August 08, 2018, 06:44:08 AM
 #2

The problem using Bitcoin ATM's in my opinion:

1. The high fees
2. The need to wait (until the transaction get confirmations) and you receive an SMS to withdraw the money - Hopefully this gets solved with LN in the future.
3. Asking for passport (ATMs have cameras) after certain limit. Probably due to regulations but still...

Aside from that, they're really handy and the companies behind them (in my case Bitaccess) are very helpful and have a fast support. I had a transaction where things went wrong, I contacted them and they refunded me.

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August 08, 2018, 07:13:38 AM
 #3

Since 2014 Belgrade, Serbia has a total number of Bitcoin ATMs / Tellers in and around Belgrade: 4. Guys who running that crypto business also have cryptocurrencies exchange very often organize a BTC day at some restaurants that accept BTC where you can get a discount on that occasion. Anyway, we don't have legal regulation for cryptomarket here.
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August 13, 2018, 08:22:35 PM
 #4

The problem using Bitcoin ATM's in my opinion:

1. The high fees
2. The need to wait (until the transaction get confirmations) and you receive an SMS to withdraw the money - Hopefully this gets solved with LN in the future.
3. Asking for passport (ATMs have cameras) after certain limit. Probably due to regulations but still...

Aside from that, they're really handy and the companies behind them (in my case Bitaccess) are very helpful and have a fast support. I had a transaction where things went wrong, I contacted them and they refunded me.


lols, do you think all this can be possible if ATM is planted and during withdrawal they started asking for passport and the rest details in the machine, this makes no sense beside just as you said that the fee will much and we can't qeue  for all the confirmations before the bitcoin can be dispense from the machine after receiving the transaction alert from our cellphones.

although in my country i haven't seen any machine that uses or dispenses bitcoin.
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August 13, 2018, 08:36:59 PM
 #5

Most of the Bitcoin ATMs are only usable to make a purchase. It can be very hard to find a machine doing both buying AND selling. People are not worried to use it, the majority is using just for fun and in small amounts. It's like when you get your very first Visa, you use it at the ATM even if you don't need money lol. They also have no problem to provide their ID card since it's just for a few bucks, it's not like if they were trying to sell the BTC they got underground.

It's still too soon to see ATMs becoming popular and profitables, maybe in 5-10 years but as for now I don't see any use other than getting fun

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August 14, 2018, 06:57:21 PM
 #6

lols, do you think all this can be possible if ATM is planted and during withdrawal they started asking for passport and the rest details in the machine, this makes no sense beside just as you said that the fee will much and we can't qeue  for all the confirmations before the bitcoin can be dispense from the machine after receiving the transaction alert from our cellphones.

although in my country i haven't seen any machine that uses or dispenses bitcoin.

It's going to be an automatic process If I remember correctly (there is a camera in the ATMs). Or, in Bitaccess case for example, you could complete the verification online so you don't have to worry when you are withdrawing the money: https://app.bitaccess.co/

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August 21, 2018, 01:01:55 PM
 #7

A good idea. Bitcoin ATM, that would be Bitcoin's future. When it is recognized by the world, of course this will happen without any thought.
Everyone can withdraw cash at ATMs that use credit cards with BTC to trade, which is really convenient, useful for life. I believe this will become a reality.
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August 21, 2018, 02:27:07 PM
 #8

The problem using Bitcoin ATM's in my opinion:

1. The high fees
2. The need to wait (until the transaction get confirmations) and you receive an SMS to withdraw the money - Hopefully this gets solved with LN in the future.
3. Asking for passport (ATMs have cameras) after certain limit. Probably due to regulations but still...

Aside from that, they're really handy and the companies behind them (in my case Bitaccess) are very helpful and have a fast support. I had a transaction where things went wrong, I contacted them and they refunded me.

Anonimity is expensive unfortunately so high fees is something natural in this situation. I was never asked for passport though, that's something I did not know of.
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August 21, 2018, 02:33:26 PM
 #9

The few I've seen in my area had high fees and had a small maximum amount you could purchase.  Right now bitcoin AtMs are not very appealing but at least they are helping more newbies get introduced to cryptocurrency.  We would be better off with more fiat to btc exchanges instead of high fee ATMs.

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August 21, 2018, 02:47:43 PM
 #10

I do not remember which country it is in, I had a chance to experience it once. they seem to be useful. but some hacking stories are turning. I am uncertain whether they are safe or not.
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October 10, 2018, 10:35:45 PM
 #11

The problem using Bitcoin ATM's in my opinion:

1. The high fees
2. The need to wait (until the transaction get confirmations) and you receive an SMS to withdraw the money - Hopefully this gets solved with LN in the future.
3. Asking for passport (ATMs have cameras) after certain limit. Probably due to regulations but still...

Aside from that, they're really handy and the companies behind them (in my case Bitaccess) are very helpful and have a fast support. I had a transaction where things went wrong, I contacted them and they refunded me.


lols, do you think all this can be possible if ATM is planted and during withdrawal they started asking for passport and the rest details in the machine, this makes no sense beside just as you said that the fee will much and we can't qeue  for all the confirmations before the bitcoin can be dispense from the machine after receiving the transaction alert from our cellphones.

although in my country i haven't seen any machine that uses or dispenses bitcoin.

I don’t think they dispenses Bitcoin, it is stated that your Bitcoin will exchanged into banknotes (money). Here in our country, we have that too, but much more in a different way. There’s this Bitcoin wallet wherein the amount of Bitcoin or Eth that you’re going to cash out will be converted into money then when you’re going to cash it out, it’s amount is already in your national currency. Then you won’t be needing any ATM cards either, you just need to type the code to cash out. They don’t have expensive fees either.

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October 18, 2018, 08:31:24 AM
 #12

This is no doubt a welcome development. It shows progression for cryptocurrency and Bitcoin in particular. But I personally feel, without sounding pessimistic, that there are still haunting issues with Bitcoin and it can not be neglected. Bitcoin will die off if the system is not managed well. Yo don't want to invest such technology in a system without a firm root and policies. Whoever is in-charge of this should go back to the drawing board and fix somethings up before getting to this point. otherwise we might have Bitcoin ATMs in 2019 and in 2020 Bitcoin is history. My opinion though.

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October 18, 2018, 08:41:20 AM
 #13

Anyone here use a Bitcoin ATM anywhere? What was your experience like with them?

I saw these two articles that talk about the popularity of these ATM's and how much they're growing every day.

https://coinatmradar.com/charts/?utm_source=The+Daily+Bit&utm_campaign=920580fa66-EMAIL_CAMPAIGN_2018_08_07_01_35&utm_medium=email&utm_term=0_74539b8bec-920580fa66-38042251#by-country

and

https://bitcoinist.com/the-future-of-cryptocurrency-atms-has-arrived/

My other question is if people are worried about the security of these things.

I haven't used it yet. But I look forward to using it. It will be a very nice experience for me. I think it will be used very often in the future. At present, especially at airports, there are many reasons. The airports are very suitable for such operations. It's a lot less risky than cash. Moreover, when the use of Bitcoin becomes widespread, it will be prevented from damaging the exchange for those who are traveling.

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October 18, 2018, 09:46:01 AM
 #14

I am yet to have an experience using bitcoin ATM because there is none where I stay. Though it is a welcomed development as it going to aid financial services, I read that there are still a number of issues to be resolved. An example is transaction time.

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October 18, 2018, 10:39:55 AM
 #15

I have not yet the experience of using the bitcoin ATM  because my location is still a novice as far as bitcoin/blockchain is concerned. But as the adoption of Bitcoin continued globally very soon my location will embrace bitcoin and other altcoins as a means of transaction. But from the experience of those who has used the bitcoin ATM as we read from net, they claim of its effectiveness and hassles free. We keep watching for more experience from new users.

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October 18, 2018, 10:47:16 AM
 #16

I think that Bitcoin ATM's are a very good idea of looking to the future. The only minuses for this idea is a big fee for using it and little expanded network because it's hard to find them. but all these problems should be solved in the future

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October 18, 2018, 11:07:09 AM
 #17

I just want to say that this is good news that I have read, This shows that bitcoin goes through some very good developments. And bitcoin ATMs will give something new to the transaction. Thank you for the news that you shared, at least this has increased my experience and insight.

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October 18, 2018, 11:09:29 AM
 #18

As the uncertainty is still creeping in and most people do not know fully about Bitcoin ATMs, even though they have a large amount of store in their wallet they tend to transact a little amount of it. Furthermore, the high fees and waiting time is also not catching peoples attentions. It still has some major issues to solve so that people can finally use their wallets freely.
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October 18, 2018, 11:13:13 AM
 #19

SEC so struggling with cryptocurrency and Bitcoin, and thus did not notice the largest number of ATMs in their country?

More than 2000 ATMs. Even in Asia and Japan there is no such amount of ATMs.

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October 18, 2018, 11:39:25 AM
 #20

Today I think it is impossible. There are many reasons, but the main reason is this work with the government. ATMs are set up automatically means taxes and controls until full cooperation happens. But if there will be terminals, but all our transactions will be known))

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