The history of bitcoin ATMs is much longer than I thought!

[The Sceptical Chymist]

I took my bicycle out for a very cold 6 mile ride today to visit an ATM in the next town--and, by the way, I had a much better experience than the last couple of times I ventured out to a bitcoin ATM.  The markup wasn't ridiculous and the ATM didn't even require a scan of my driver's license.  It was simple and easy to buy bitcoin at this one and I'm happy I made the trip.

So I searched Bitcoin Discussion for "bitcoin ATM" looking for previous threads I'd posted in, and to my surprise most of the threads that popped up were from the early days of crypto, including this one from 2011.  I'm assuming they weren't around back then, but I don't even recall much discussion of them until 2016 or so--and I guess I assumed it was a relatively new concept.  I was wrong.

If you've never browsed threads/posts on this forum from way back, I highly recommend spending some time doing so because it's fascinating how things from 10 years ago seem ancient now.  I also recommend the Coinflip ATMs (which I used today) based on my admittedly limited experience, because you could do a hell of a lot worse with the other ones which charge you an arm and a leg and want at least some KYC docs.

Happy to hear your thoughts on any of this.

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[Darker45]

I wonder, was there really a need on your part to travel a few miles on a bicycle and on a very cold day just to transact with a Bitcoin ATM? Or was it just you thinking it was a nice day to bike around and visit the Bitcoin ATM in the adjacent town?

My point is that having a Bitcoin ATM around is nice and could be handy at times but I don't think people really need them. Well, if you are stuck traveling somewhere where stores are not accepting payments in cards and you have no cash in hand and there was no other ATM available but a Bitcoin ATM, then it's a lot of help. But I'm not sure if anybody will be caught in such circumstances.

Crypto-supported cards are enough to make Bitcoin ATMs less important. Moreover, I don't think buying Bitcoin through an ATM is also the best method.

[TravelMug]

There's also another earlier thread, The Bitcoin ATM Is Coming at a Location Near You???.

It's interesting though that after 3 years in that thread (2014), someone posted that an ATM has been established in Switzerland. So it took that long for crypto business owners to realised how lucrative a bitcoin ATM could be, and now we have 16445 as per https://coinatmradar.com/, which coincidentally was also started around 2014.

[Upgrade00]

the ATM didn't even require a scan of my driver's license.  It was simple and easy to buy bitcoin at this one and I'm happy I made the trip.

This is because of the amount you were trading, most services have a system in place where smaller amounts doesn't require KYC (although some form of identification like phone number is necessary), for coinflip their limit is $900;

For amounts between $901 and $2995 USD, registration is required. The machine will ask you to put your state-issued ID up to the camera, and then to take a selfie in front of the camera. Once registered, you will not have to register again.

https://www.coinflip.tech/faq

I'm assuming they weren't around back then, but I don't even recall much discussion of them until 2016 or so--and I guess I assumed it was a relatively new concept.  I was wrong.

Agreed, the concept of an ATM for exchanging Bitcoin must have been relatively new as Bitcoin itself had a very small community at the time. Coinatmradar only goes as far back as 2014, and records that there were 5 Bitcoin ATMs in existence at the time, compared to the 16,450 registered today.

[nutildah]

I used one recently myself and I agree, they have come a long way. I used one for the first time in 2016. It was in the lobby of a hotel and the crowd I was with weren't very happy that they had to sit around for half an hour while the withdrawal confirmed 3 times... Even the hotel security guard thought I was wasting my time and told me to go use the (real) ATM next door.

Now you can initiate the sale at home and then go pick it up when its ready. Sales fees around here is about 5%, which isn't terrible. But if you want to buy BTC they tack on a 20% premium! Its ridiculous... But as far as selling concerned, I can be done with the experience in the same amount of time it would take me to withdraw cash.

[AniviaBtc]

I wonder, was there really a need on your part to travel a few miles on a bicycle and on a very cold day just to transact with a Bitcoin ATM? Or was it just you thinking it was a nice day to bike around and visit the Bitcoin ATM in the adjacent town?

My point is that having a Bitcoin ATM around is nice and could be handy at times but I don't think people really need them. Well, if you are stuck traveling somewhere where stores are not accepting payments in cards and you have no cash in hand and there was no other ATM available but a Bitcoin ATM, then it's a lot of help. But I'm not sure if anybody will be caught in such circumstances.

Crypto-supported cards are enough to make Bitcoin ATMs less important. Moreover, I don't think buying Bitcoin through an ATM is also the best method.

I also thought about this that some of us really prefer to have a transaction online instead of going on a certain place just to buy bitcoin.

Bitcoin ATMs are a good sign that we are seeing mass adoption in some places because they are allowing these machines to operate freely.

If it is not necessary to use Bitcoin ATM then don't push yourself to do it.

But if you just want to experience it and you are curious about how it works then we are free to do it so.

[SquirrelJulietGarden]

There's also another earlier thread, The Bitcoin ATM Is Coming at a Location Near You???.

It's interesting though that after 3 years in that thread (2014), someone posted that an ATM has been established in Switzerland. So it took that long for crypto business owners to realised how lucrative a bitcoin ATM could be, and now we have 16445 as per https://coinatmradar.com/, which coincidentally was also started around 2014.

History of coinatmradar.com. It was registered and began in 2014.

Domain Information: https://www.whois.com/whois/coinatmradar.com
Wayback machine: https://web.archive.org/web/*/https://coinatmradar.com/

Some alternative websites for coinatmradar:
- https://coinme.com/locations/
- https://www.coinstar.com/bitcoin
- https://bitcoinatm.com/
- https://localcoinatm.com/

The first bitcoin ATM was used in 2013 with info from Bitcoin Wiki.

On October 29, 2013, a Robocoin machine opened in the Waves coffee shop in downtown Vancouver, Canada.[4][5] This machine is understood to be the world's first publicly available Bitcoin ATM. Robocoin ceased operations in 2015.[6] The first machine in the United States went online on February 18, 2014, in a cigar bar in Albuquerque, New Mexico.[7] It was removed 30 days later.[8] On December 8, 2013, Europe's first Bitcoin ATM was installed in Bratislava, Slovakia.[9]

https://en.wikipedia.org/wiki/Bitcoin_ATM
https://mashable.com/2013/10/30/bitcoin-atm-2/
https://www.wired.com/2013/10/robocoin-here/
https://abcnews.go.com/Technology/bitcoin-atm-conducts-10000-worth-transactions-day/story?id=20730762

[Lorence.xD]

I will only be dreaming of that kind of thing happening in my country, I am in a way jealous that you have bitcoin ATMs as opposed to what we are doing in my country converting it to cash and withdrawing it in a conventional ATM. Maybe the winds of progression will come to our homeland and I will see bitcoin ATMs pop up everywhere but right now, I won't hold on to that possibility because there isn't a lot of people that knows about bitcoin in my country.

[Mbitr]

I remember seeing a bitcoin ATM and thinking - why not give it a try . I found it rather daunting at first, but subsequently used a couple of these over the years. I think these are great for mass adoption of Bitcoin, even if people don’t actually use them it’s a great little bit of advertising!
PS I also love going through the old threads - this forum is and will always be a great piece of history 

[Kakmakr]

Yea, just a pity that the manufacturers and distributors of these Bitcoin ATM's are mostly targeted at the 1st world countries and 3rd world cities are not even covered. I travel a lot for work and I can tell you that there are almost ZERO Bitcoin ATM's in large cities in 3rd world countries.

I think these companies are just worried about the profits and they could care less about these 3rd world countries. (Getting these ATM's out there, will help with remittance ...because a lot of 3rd world citizens are working in 1st world countries and they always send money home with expensive remittance services, like MoneyGram)  

[Ultegra134]

I wonder, was there really a need on your part to travel a few miles on a bicycle and on a very cold day just to transact with a Bitcoin ATM? Or was it just you thinking it was a nice day to bike around and visit the Bitcoin ATM in the adjacent town?

My point is that having a Bitcoin ATM around is nice and could be handy at times but I don't think people really need them. Well, if you are stuck traveling somewhere where stores are not accepting payments in cards and you have no cash in hand and there was no other ATM available but a Bitcoin ATM, then it's a lot of help. But I'm not sure if anybody will be caught in such circumstances.

Crypto-supported cards are enough to make Bitcoin ATMs less important. Moreover, I don't think buying Bitcoin through an ATM is also the best method.

There is one in the nearby city, 65 kilometers from here, I've never used it though. I don't think there is a need for Bitcoin ATMs but they can be useful in a few cases. One thought would be to purchase/sell/withdraw large amounts of Bitcoin without being detected by IRS services. I'm not exactly how they work though. That's one interesting thought, if it can actually be implemented to work like that, I wouldn't want to withdraw large amounts to my bank account.

[Darker45]

I will only be dreaming of that kind of thing happening in my country, I am in a way jealous that you have bitcoin ATMs as opposed to what we are doing in my country converting it to cash and withdrawing it in a conventional ATM. Maybe the winds of progression will come to our homeland and I will see bitcoin ATMs pop up everywhere but right now, I won't hold on to that possibility because there isn't a lot of people that knows about bitcoin in my country.

I suppose you are from the Philippines. Actually, the country is so much ahead of other countries in terms of Bitcoin ATM installation. The first Bitcoin ATM was operational way back in 2014, if my memory serves me right.

Try to check it out at coinatmradar.com also. The Philippines has 9 all in all, 7 of which are around Metro Manila. I am not sure how many are actually operational, though. 

~snip~

There is one in the nearby city, 65 kilometers from here, I've never used it though. I don't think there is a need for Bitcoin ATMs but they can be useful in a few cases. One thought would be to purchase/sell/withdraw large amounts of Bitcoin without being detected by IRS services. I'm not exactly how they work though. That's one interesting thought, if it can actually be implemented to work like that, I wouldn't want to withdraw large amounts to my bank account.

Withdrawal through Bitcoin ATMs has daily limits just like a regular ATM. And not all Bitcoin ATMs do not require identification.

[Timelord2067]

I was using a bitcoin ATM located originally in one part of South Brisbane in 2014 which was located inside a coffee roasting cafe.  Unknown to the owner of the ATM was the fact the Coffee Roaster business was a front for a bikie gang to launder money - via the coffee, not the bitcoins...  When the police raided the establishment, they leaked to the media that a bitcoin ATM had been seized and so the media went into a frenzy that bitcoins are evil, money laundering blah blah (etc)...

Without any fanfare a year later, the police admitted the bitcoin ATM had nothing to do with the bikie gang money laundering and it was relocated to Fish Lane (check it out if you're ever in Brisbane) also in South Brisbane.  Ironically, the building is now the Commonwealth Bank.  At the time the bitcoin ATM was there, it was a struggling office supply shop.  (people would go into the shop to get bitcoin, not office supplies)


AFAIK when the raid occurred, the other ATM owners around Brisbane unplugged their machines and haven't relocated even now.

[Poker Player]

-snip

Hi buddy. With all due respect to you, there is something about your story that doesn't add up for me. You are a legendary member of the forum, you are also in the Chip Mixer signature campaign and you say you have gone to a Bitcoin ATM to buy Bitcoin? I do not know if it was just to test it but I think that if you want to accumulate just by saving what they pay you in the campaign you'll end up with a lot.

At first, I thought you had gone there to sell BTC.

It does not seem that you need to buy Bitcoin and if it was for privacy there are other options.

[lifeforcepools]

Crypto ATM is just a way to advertise crypto and nothing more.

[Ultegra134]

~snip~

There is one in the nearby city, 65 kilometers from here, I've never used it though. I don't think there is a need for Bitcoin ATMs but they can be useful in a few cases. One thought would be to purchase/sell/withdraw large amounts of Bitcoin without being detected by IRS services. I'm not exactly how they work though. That's one interesting thought, if it can actually be implemented to work like that, I wouldn't want to withdraw large amounts to my bank account.

Withdrawal through Bitcoin ATMs has daily limits just like a regular ATM. And not all Bitcoin ATMs do not require identification.

Haven't thought about that to be honest, totally forgot that due to the whole GDPR, even Bitcoin ATMs ask for verification and KYC. It' might actually be safe(r), in terms of exposing profits to IRS, comparing to depositing funds from an exchange to your bank.

Looked it up about the withdrawal limits but didn't find any information about those we have here. However, it's rational to say that you won't be able to withdraw 1000s at any given time.

[TedMosby]

why crypto atm instead of a crypto point-of-sale app?
for example XPOS by PundiX.
https://pundix.com/product
it's cheaper and smaller than ATM.

POS app could become a mini ATM, right?
I mean the money can be given by the merchant.
do I miss something about this?

[isaac_clarke22]

~

I wasn't aware that ATMs needed an ID. Did it really needed a verification when doing transactions? Here in my country, I haven't heard much of Bitcoin ATMs as those were not that common and in fact they're not in non-busy areas actually.
Anyways, if some ATMs really require such government issued ids then I would somehow think twice before I even decide to dive into that kind of stuff. Wallets in my desktop is already more than enough anyway.
I can use online buying to get myself spare BTCs. It might not be that secured than ATMs but I can manage.

[The Sceptical Chymist]

I wonder, was there really a need on your part to travel a few miles on a bicycle and on a very cold day just to transact with a Bitcoin ATM? Or was it just you thinking it was a nice day to bike around and visit the Bitcoin ATM in the adjacent town?

No, I absolutely didn't need to use the ATM.  By the way, I rode back there again today and bought some Dash in addition to bitcoin.  It's been a long winter and the past few days have been relatively mild, hence the desire for cycling--but I also like bitcoin ATMs and this particular one has much lower fees than the previous two I'd used.

And I agree with you that crypto/bitcoin ATMs are an unnecessary thing since nobody really needs bitcoin so urgently that they'd need to take a trip to that ATM to get it.  A normal crypto user would just buy it through an exchange like Coinbase, as it's much cheaper.  I'm curious to see whether these ATMs survive for exactly the reasons you and I just wrote about.  For right now I think they're a very cool novelty.

I wasn't aware that ATMs needed an ID. Did it really needed a verification when doing transactions?

Some of them do, some don't.  The one I used today and a few days ago only required me to receive an SMS text code and to input my name.  You can input any name with no problem.  I'm sure that camera that's in the machine is watching you, and they all have that.  The first one I tried to use wouldn't work, as it kept getting stuck at trying to take a picture of my driver's license.  That was annoying as hell.

why crypto atm instead of a crypto point-of-sale app?

I've never used anything like that, and I'll have to look into it.  As far as why I chose to use this ATM, I think I've pretty much explained it.  I didn't need bitcoin or Dash really badly, but I felt like riding my bike and I like to have a destination when I ride.  And again, I think the concept of bitcoin ATMs is very cool.

With all due respect to you, there is something about your story that doesn't add up for me. You are a legendary member of the forum, you are also in the Chip Mixer signature campaign and you say you have gone to a Bitcoin ATM to buy Bitcoin? I do not know if it was just to test it but I think that if you want to accumulate just by saving what they pay you in the campaign you'll end up with a lot.

LOL, you're way too suspicious.  Why would any of the factors you listed necessarily make anyone think I'd be above or averse to using a bitcoin ATM?  I'm an average guy who likes bitcoin, and Chipmixer doesn't pay what it used to anyway. 

[Ultegra134]

I wonder, was there really a need on your part to travel a few miles on a bicycle and on a very cold day just to transact with a Bitcoin ATM? Or was it just you thinking it was a nice day to bike around and visit the Bitcoin ATM in the adjacent town?

No, I absolutely didn't need to use the ATM.  By the way, I rode back there again today and bought some Dash in addition to bitcoin.  It's been a long winter and the past few days have been relatively mild, hence the desire for cycling--but I also like bitcoin ATMs and this particular one has much lower fees than the previous two I'd used.

And I agree with you that crypto/bitcoin ATMs are an unnecessary thing since nobody really needs bitcoin so urgently that they'd need to take a trip to that ATM to get it.  A normal crypto user would just buy it through an exchange like Coinbase, as it's much cheaper.  I'm curious to see whether these ATMs survive for exactly the reasons you and I just wrote about.  For right now I think they're a very cool novelty.

I wasn't aware that ATMs needed an ID. Did it really needed a verification when doing transactions?

Some of them do, some don't.  The one I used today and a few days ago only required me to receive an SMS text code and to input my name.  You can input any name with no problem.  I'm sure that camera that's in the machine is watching you, and they all have that.  The first one I tried to use wouldn't work, as it kept getting stuck at trying to take a picture of my driver's license.  That was annoying as hell.

why crypto atm instead of a crypto point-of-sale app?

I've never used anything like that, and I'll have to look into it.  As far as why I chose to use this ATM, I think I've pretty much explained it.  I didn't need bitcoin or Dash really badly, but I felt like riding my bike and I like to have a destination when I ride.  And again, I think the concept of bitcoin ATMs is very cool.

Probably depends on the provider, I don't really think there's much you can do to remain 100% anonymous anymore. As I've mentioned already, after some research, to use the ATM here you'll have to provide them with quite a little information/documents, as a KYC policy. Thus, I don't see an actual need for them to exist to be honest.