Can more ATM's increase adoption for Bitcoin?

[Astvile]

Surely it will, the crowd will get curious about whatever bitcoin is when they see this ATM machine standing in one corner, they'll get curious about whether what is about bitcoin and they're gonna do some research about it for sure.

Would you buy Bitcoin at ATM or nah?   

For me, yes I'll consider buying bitcoin at an ATM to try it out but won't do it very often because im sure prices will surely be higher than exchange price for the manufacturer to profit.

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[kooboat]

The proliferation of bitcoin ATMs in many parts of the world would really help the course to promote the use of cryptocurrencies around the world. Cryptocurrencies especially bitcoin is becoming popular with each passing day, hence with more ATMs around people can easily perform various transactions just as it is done with the usual ATMs we have around. This is a great step to promote mass adoption of bitcoin.

[Darooghe]

ATM or just buying from an ATM is not adoption. adoption will be spending BTC on everyday purchases or it manages to becomes a store of value such as gold is. These ATMs have super high fees and majority of these fees go to the person who purchased the ATM, they only exist to make money for the person that owns them. they can be useful to educate people anyway so that they stop being frightened of Crypto. many people have heard of Bitcoin so having seen this ATM they will realize that it something "usable" and perhaps will want to learn more. Not that much of adoption but in sight.

[karanggatak]

i know in my country, have three atm for selling, buying, or make it cash. located in a big town, because it have a lot of tourist. i know it will make easy for bitcoin player around the world if you want to cash your bitcoin. it also can promote bitcoin itself, that have same product like bank unfortunately, we cant buy or sell with bitcoin. i hope someday they allow us todo it.

[George_Akoni]

I feel bitcoin is a digital currency so again travelling till ATM machine is not a necessary compulsion. It is all based on the individual requirement that rely on urgency and need. In our local currency bitcoin machines create more awareness for new users.

[Fides-exchange]

It's possible that ATM's can increase the amount of users for BTC but the fees being charged to buy need to be kept lower than some ATM companies are charging.

[bryant.coleman]

I feel bitcoin is a digital currency so again travelling till ATM machine is not a necessary compulsion. It is all based on the individual requirement that rely on urgency and need. In our local currency bitcoin machines create more awareness for new users.

Well.. there are other options out there if you want to purchase some cryptocurrency for yourself and you can say that BATMs are not that necessary for Bitcoin adoption. But at the same time, there are a lot of individuals out there who would refuse to purchase Bitcoin (or some other cryptocurrency) from any of the exchanges. Nowadays they have made KYC mandatory in these exchanges and a lot of the users are not comfortable with the idea of sending the scanned copy of the passport to completely unknown people.

[Genemind]

I'm amazed that most countries have this kind of ATM. I wish we have it in our country too. I'm sure that it will increase the adoption of Bitcoin because it's more convenient and accessible for most users. It will be easy for most users to purchase and sell bitcoin at the same time. One of the common problems of most investors is they don't know how and where to purchase it. Bitcoin ATMs would make it easier for them to buy.

[peter0425]

What’s the use of ATM machines if people don’t even use it?
There are many ways to buy bitcoin so why need for this not unless there’s no available at the moment hen maybe we will consider using ATMs
Though the presence of machines shows advertisements and also popularization for Bitcoin
There are also banks that offers crypto withdrawals so for that specific machines for bitcoin ATM won’t be necessarily needed

[GrayFullbuster]

We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah?   

It can be a way for the people to know what is bitcoin. After the first bitcoin atm in my community, many people are now want to know what is bitcoin and how it works. People deserve convenience and that's why they became interested to it.

[Sithara007]

More ATMs are always welcome. They can be a boon for those people who don't want to depend on online methods to purchase Bitcoin. And I know a lot of people who never purchase anything from the online. Some of them don't even have debit cards or credit cards. For such people ATMs can be a good option. They can just deposit fiat banknotes, and get Bitcoins in return. But one thing that I don't like about Bitcoin ATMs is their steep fees. In Localbitcoins, you can purchase Bitcoins for 1% or 2% commission. But the premium goes up to 10% in some of the Bitcoin ATMs. So it is definitely an expensive choice, when compared to the online options.

[Arsenyo]

I wouldn't choose to buy Bitcoin from ATMs, because of huge fees and especially because it is more convenient to buy it online, instead of going to an ATM. But I believe it has a good effect on popularization of cryptocurrency as people will start to ask questions and wonder what it is. Not adoption, but still it is important.

[minersday]

Adoption has to do with people understanding and knowing the nature and purpose of Bitcoin and also knowing the relevance of Bitcoin in the financial ecosystem. People easily adopt to things that they can easily relate to. Introducing more bitcoin ATMs will not really guarantee the adoption of bitcoin into the mainstream financial transactions. The knowledge people have about Bitcoin and the entire crypto space is the cause of the slow adoption of Bitcoin and other cryptocurrencies. 

[bitcoinposts]

Atm adoption is more important for bitcoin which increases the users to withdraw funds without any intermediary exchange in between .Atms are future of crypto currency exchange

[Eugenar]

It does makes you wonder who is the target audience?

I really don't know for sure, but probably those people who aren't willing to expose their identities by using exchanges that requires KYC? And probably those who doesn't know that exchanges like Coinbase exists. Just my guess though. I've always thought bitcoin ATMs would die out because of the price premiums, but more are actually appearing in various places; meaning that there's actual demand there, which definitely surprised me a lot.

Definitely, bitfcoin ATM is very accessible, sooner or later, when bitcoin adoption increases, people will have the urge to buy bitcoin at their convenience thru bitcoin atm's the same way how we put our trust to banks, as long as we don't need to put up our KYC onto it, there's no fear for people to utilize it. But there's should be an international standard for the machines to be created in order to avoid scam and fraud with these ATM's.

[Battareus]

Such a thing looks like a gaming machine, I don’t think that anyone other than those who are of the old type of mind (what he buy should be felt, or at least able get a check) use them. If the purchase of Bitcoins will added to all existing Banks, then demand could increase. So such ATM's will stand as outlandish things like hello from the 90's.

[blckhawk]

It's a great start for adoption but I don't think it won't attract much bitcoin buyers. The positive side is that it does not require KYC procedures so you stay anonimous. Another is that it would raise curiosity to people who can see this and would begin asking questions to what is these machines for. The negative side is that it's fees are high and it's much more convenient to use online exchanges instead. But at least, it's one way to spread the word of crypto and signifies continuous growth of the platform.

[malevolent]

ATM or just buying from an ATM is not adoption.

Buying bitcoin through a Bitcoin ATM is the most frictionless method of acquiring bitcoins these days (most people can't feasibly mine without losing money), so yes, it does help with adoption.

[Xxmodded]

Give little effect for increase adoption of bitcoin and government always give regulation bitcoin as legal payment, government will trust with how serious bitcoin become legal payment transaction by giving good service for investor and give proof for government how serious of bitcoin become legal transaction beside have many advantage with bitcoin.

[DdmrDdmr]

Adoption has two angles to it: acquisition and usage. Bitcoin ATMs constitute another option to strengthen the acquisition phase, so from that standpoint they do contribute to adoption.

Aside from regular ATMs, there are other initiatives that play their (for now small) role in the process of adoption. Panda Group is deploying in Colombia, and now in Venezuela, a portable version that looks very similar to one of those devices you use when paying with a card, but that allows you to purchase BTC with the necessary aid of a shop assistant in this case (no self-service).

France now sells BTC through tobacco selling stores. Starting today, Keplerk has deployed a solution in 5.200 points of sale, allowing customers to purchase a coupon with a facial value of 50, 100 or 250 Euros. These coupons are then used by the purchaser to, in his own time and place, load his Kepler Bitcoin Wallet by scanning the coupon’s bar code. I believe that the wallet is custodial, so not the best option, but the idea is to make it simple to purchase, rather much like purchasing a lottery ticket. Not the best of similes, but a means of getting to a different target audience.

Apparently, Kepler is not the first. Digycode deployed their solution first in around 10K tobacco selling stores in France using smaller coupons: 20, 50 o 200 euros. The coupon redemption process here is different, and is done through a website that allows you to send the BTC (or ETH, LTC, XRP, Dash) to a wallet address of your choice.


ATMs and solutions such as the above therefore strengthen the acquisition options of BTC, and each solution may attract a different target audience simply because of how the usage is actually implement. Legislation at some point will step-in to have its say, where it currently fall into the category of a grey area.