Bitcoin/ Crypto ATM's

[btckesh]

we have one here @Basel Switzerland, right behind the train station.. never used it, but heard it has quite high fees when withdraw cash, wich sounds logical.

[maarx]

Do people actually use these machines or is it something noone is really interested in? Please share your opinions.

I just had to come across an ICO with its best project which is bringing up ATM machines for crypto transactions. The ICO is "Investa". They almost captured the market and heard that they started marketing themselves in the local zones. The investment the ICO has put on the project is so huge. This is  taking the ICO to the next level. https://investaco.in/ would detail you more.

[The Sceptical Chymist]

https://www.statista.com/statistics/343127/number-bitcoin-atms/

This is a lousy website.

https://coinatmradar.com/

This is an awesome website.  The closest one to me is like 60 miles away, and I refuse to own a car so I won't be getting there anytime soon, and there aren't any in my state.  I didn't even think there was one closer than NYC, but there is.  Pretty damn cool, and I'd love to try one of these out.

Do people actually use these machines or is it something noone is really interested in? Please share your opinions.

In the US, I doubt they get much use since there aren't many merchants that accept bitcoin, and even if there was one near the ATM machine, they most likely accept fiat.  Why would you go out of your way to buy bitcoin from an ATM machine just to spend it?  That's always been my question and I've yet to hear a good argument.

[Kemarit]

https://zycrypto.com/researched-and-reported-bitcoin-atm-market-to-grow-by-50-in-the-next-5-years/

As more people get to know about cryptocurrencies and adopt them, the crypto leader, Bitcoin, looks well-poised to embark on a great expansion in the ATM market. In fact, it’s estimated that by 2023, Bitcoin’s ATM market will have achieved $145 million in value.

What The Future Holds

That’s according to a report released after a research conducted by MarketsandMarkets, a research firm specializing in business-to-business dealings. The research estimates that for the market to grow to that point, it will experience a 54.7% Compound Annual Growth Rate (CAGR) between 2018 and 2023, putting the market value to the $145 million range by the end of the 5-year period.

I'm not surprised by this news because we have expecting a crypto boom in the next 5 years. Its interesting that the growth should come in North America, but I believed that Asia is a good market for Bitcoin ATM as well, with Japan and South Korea leading the way.

[solarion]

Do people actually use these machines or is it something noone is really interested in? Please share your opinions.

I just had to come across an ICO with its best project which is bringing up ATM machines for crypto transactions. The ICO is "Investa". They almost captured the market and heard that they started marketing themselves in the local zones. The investment the ICO has put on the project is so huge. This is  taking the ICO to the next level. https://investaco.in/ would detail you more.

Hope this will be much helpful information for op want to get the information for ATM machine setups mate.

However in the localbitcoins.  They have given out the list of ATM list available through the world. Mostly you may find the machines on the European and south american countries as I know. Why not Russia, Asian and australian region not available with the ATMs.

[DaveF]

From the because I was there I used 2 while in Las Vegas for DefCon last month.
Both were overpriced.


1st one I pulled out $80 of BTC that cost me close to $90 [bitstamp rate]
2nd one I pulled out $100 of BTC that cost me close to $120 [bitstamp rate]

However, I also had some ETH to burn. Was going to trade it sooner or later and was just sitting on wallet on my phone.
The rates were a joke they were so bad. BUT I was happy to get out of *this* ETH deal for various personal reasons so getting a 20% haircut was worth it to me.
So close of $620 of ETH got me $500 USD. 
However ETH has dropped so hard it's now only worth $460 so I won that because I was going to get have to get out of it now at the latest anyway.

-Dave

[tbterryboy]

[quote aut
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Do people actually use these machines or is it something noone is really interested in? Please share your opinions.
[/quote]
I have never seen a bitcoin ATM before and I don’t know how it works, but I’ve used a my Bitcoin debit card (Xapo Debit card) in a bank’s ATM which has the MasterCard logo on it and I was able to withdraw from it, not just once, I have used it several times but I no longer use it now.

But assuming there is a Bitcoin ATM in my country I don’t think there will be much people making use of it because not much people knows about Bitcoin or interested in it.

[fortresscoin]

Bitcoin ATMs strategically placed may be a good business for the vendors.  However, unfortunately it’s a great way for the local government to monitor BTC users because they demand ID.  Which means it’s only good for the rest of us if we want some quick cash out of a btc account.  Bitcoin ATMs put up in casinos would probably be great for the ‘house’.  Also, developers of other coins could contact the machine vendors and offer their coin or token for great exposure  while marketing the use of their coin to vendors in the casino. 

[DaveF]

Bitcoin ATMs strategically placed may be a good business for the vendors.  However, unfortunately it’s a great way for the local government to monitor BTC users because they demand ID.  Which means it’s only good for the rest of us if we want some quick cash out of a btc account.  Bitcoin ATMs put up in casinos would probably be great for the ‘house’.  Also, developers of other coins could contact the machine vendors and offer their coin or token for great exposure  while marketing the use of their coin to vendors in the casino. 

Casinos probably don't want them *IN* the casinos due to KYC / AML issues.
They do want them *NEAR* the casinos because they want your money. And for the most part if they are not exchanging it they don't care where it came from.

General Bytes ATM support alt coins:

https://www.generalbytes.com/altcoin-support-added/

-Dave

[Rainbow009]

ATM for cryptocurrencies are not readily available in most locations. As the crypto sphere is still at an early stage.
Many ICOs and projects are leaning towards debit cards so the adoption is increasing.

[bohr]

Do people actually use these machines or is it something noone is really interested in? Please share your opinions.

Of course people use them, however one of the problems with those ATMs is that until bitcoin ATMs become a lot more common then it's likely that there are people watching those ATMs to try to find identity of those that are holding cryptocurrencies, remember every centralized instance that you go through is an opportunity for the government to take away your anonymity.

[hungter34]

I find this to be a good idea but to apply in practice there are many inadequate problems. For example, it needs to be allowed by the government, banks, speed of transaction processing and security issues.

[DeadCoin]

Do people actually use these machines or is it something noone is really interested in? Please share your opinions.

I recently came across the ICOs 'Investa". Their project is bringing out their own ATMs for crypto currencies. They have already placed ATMS and in progress of the same. To say the fact, the ATMs are used among-st crypto users as like fiat ATMs. Easy way of converting from one crypto to other crypto. Crypto ATMs are really useful. Its just less in numbers. As its the beginning, ATMs are placed in countries where crypto coins are accepted and where crypto transactions are high. Hope crypto is accepted world wide and all facilities come in place.

[Kemarit]

As as Bitcoin ATM is becoming popular its now a target for hackers as well.

https://www.ccn.com/malware-targeting-bitcoin-atms-goes-on-sale-for-us25000/

Damn, those hackers are really one step of the game. I'm not sure if this so called hacks can put a stop on the booming Bitcoin ATM manufacturing business, but I do hope that they can immediately resolved this issues otherwise people aren't going to used Bitcoin ATM.

[Hannahanto]

Do people actually use these machines or is it something noone is really interested in? Please share your opinions.

We do have crypto ATM machines already in place. Crypto users do use it to exchange from one crypto to other crypto currency. ATMs are facilitated in  places where crypto is accepted and used in a wider manner. We do have many ICOs with crypto ATM projects using their own tokens. This makes their tokens value grow up every moment their coins are circulated in the ATM machines.  

[khaled0111]

Here in my country there are no bitcoin ATMs but I am certain if they exist everyone will use it because we face many problems to buy bitcoin or to cash it out.

So yes, ATMs are very useful and can make dealing with bitcoin easier.

[reflector]

Here in my country there are no bitcoin ATMs but I am certain if they exist everyone will use it because we face many problems to buy bitcoin or to cash it out.

So yes, ATMs are very useful and can make dealing with bitcoin easier.

Same I am facing in my country too buddy.

What is the use of bitcoin ATM but I believe we will not be able to anonymous on using this bitcoin ATM.
It will be good to have the Bitcoin usage in the form of application or direct web wallet. Most of the people have concern on paper and hardware wallet as a main option.

[shield132]

Curious but there are more than 4000 bitcoin ATM worldwide. Why curious? Because fees of those ATMs are very, very high and it doesn't worth to use them. I highly doubt people use them often. Maybe some bitcoin enthusiasts just test them and then go away because you have to be crazy to accept their exchange rates. But still interesting if anyone has statistics of how much bitcoin has withdrew from those ATMs.

[bohr]

As as Bitcoin ATM is becoming popular its now a target for hackers as well.

https://www.ccn.com/malware-targeting-bitcoin-atms-goes-on-sale-for-us25000/

Damn, those hackers are really one step of the game. I'm not sure if this so called hacks can put a stop on the booming Bitcoin ATM manufacturing business, but I do hope that they can immediately resolved this issues otherwise people aren't going to used Bitcoin ATM.

Hackers are experts at finding vulnerabilities, there are very smart and they have a very deep knowledge about technology and about human nature so I'm not surprised that they have found a way to hack ATMs when there have been many cases of fiat ATMs being hacked in the past, this is something that we will have to learn to live with and if you are going to use a bitcoin ATM you need to make sure that you take the necessary precautions.

[genuin]

I think all are interested in the machines currently available, but in the crypto community that tends to be small, there are still very few machines in their area. machines tend to be placed near communities that use crypto