Bitcoin ATM in a gas station

[BIN-BIN]

The use of bitcoin ATM is becoming more and more popular in the cities and the latest is a bitcoin ATM installed in a gas station in the Montana and delis, having a bitcoin ATM in a gas station is another milestone for the entire usage of bitcoin what I can tell is if one can pay for gas using bitcoin in the station but the fact is bitcoin is gaining widespread adoption. What are your takes on this new development.
 Read the full details here.
https://www.reuters.com/article/us-usa-crypto-currencies-atms-idUSKBN2B714L?utm_campaign=trueAnthem%3A+Trending+Content&utm_medium=trueAnthem&utm_source=facebook

[gantez]

But I do not expect nothing below or lesser than that. Bit is used as money and assets. I'm sure most gas stations have means of getting cash around them, so why not bitcoin? I'm not surprised because we are already on the journey of digital age and bitcoin as means to financial system.

[stompix]

These things have started to be non-news, more like adverts for the companies installing them, make a quick interview about a company, promote it and classify it as news. The most important thing in all of this is one line:

Fees range from 6% to 20% of a total transaction,

At those rates, those things are starting to target one-time shoppers, fleece them as much as they can, and then to the next buyer or more like victim rather than focusing on volume and on dedicated customers. Just for fun, I looked two weeks ago at a Batm, the fees were not that bad at 7% but buying 100 euros worth of bitcoin wouldn't get me 93euros in my wallet because they would also charge me close to 15 euros for the tx.

If they keep these things up and go full KYC on every purchase they will soon be left with no customers.

[LeGaulois]

...What are your takes on this new development....

What new development are you talking about?

A gas station has nothing special, it's commerce that can host a machine like many other types of commerce. Not even something new, I even remember someone here (@ThePharmacist maybe) who posted a thread to share his experience, and if I remember the photos posted he was in a gas station.
It is only a good location to choose from as there is a lot of transit.

Bitcoin ATMs are becoming popular in the US. since the last 2 years, it's perhaps the country having much of it with over 10,000, and it's not a new trend

...

If they keep these things up and go full KYC on every purchase they will soon be left with no customers...

With the 'outrageous fees and the KYC, I still don't understand why people rush on it. Like if we didn't have an alternative to it 

[The Cryptovator]

ATM bitcoin on gas stations or on shopping complexes doesn't make much difference. Because all are a public place and pretty easy to use as well. Increasing Bitcoin ATM means it easier to use your funds although transaction fees are quite high, at least there is real use. Bitcoin ATM is effective adoption for bitcoin. As much as Bitcoin becomes easy to use the value will increase rapidly. The value doesn't mean the only price, value fully depends on the community. Hope soon we will see more Bitcoin ATMs everywhere.

[abel1337]

These things have started to be non-news, more like adverts for the companies installing them, make a quick interview about a company, promote it and classify it as news. The most important thing in all of this is one line:

I have the same thought, Bitcoin ATM exist on different kind of places years ago but this is also nice that they are starting to promote their product which is the "Bitcoin ATM". It helps the community especially those who are interested in giving it a shot for them to experience it.

Fees range from 6% to 20% of a total transaction,

At those rates, those things are starting to target one-time shoppers, fleece them as much as they can, and then to the next buyer or more like victim rather than focusing on volume and on dedicated customers. Just for fun, I looked two weeks ago at a Batm, the fees were not that bad at 7% but buying 100 euros worth of bitcoin wouldn't get me 93euros in my wallet because they would also charge me close to 15 euros for the tx.

If they keep these things up and go full KYC on every purchase they will soon be left with no customers.

It will be hard for them to sustain their business if they charge this kind of ridiculous fee to their customers. I tried bitcoin atm in my country but the fees were not large as this. For me, it was a nice experience but it's still more cheap buying thru online 3rd party sellers.

[Fatunad]

These things have started to be non-news, more like adverts for the companies installing them, make a quick interview about a company, promote it and classify it as news. The most important thing in all of this is one line:

Fees range from 6% to 20% of a total transaction,

At those rates, those things are starting to target one-time shoppers, fleece them as much as they can, and then to the next buyer or more like victim rather than focusing on volume and on dedicated customers. Just for fun, I looked two weeks ago at a Batm, the fees were not that bad at 7% but buying 100 euros worth of bitcoin wouldn't get me 93euros in my wallet because they would also charge me close to 15 euros for the tx.

If they keep these things up and go full KYC on every purchase they will soon be left with no customers.

One of the cons on using up these ATM's where fees are absurdly high where a certain Bitcoin user would just rather on using up his fiat than on wasting up his precious coins or would tend too
buy in much lesser fees in platforms even though it cant really equalled out when it comes to convenience that it gives but this is just actually a person reference if he would deal up with that or not.

You are right that when it comes into these kind of headlines or news then this one turns out to be some sort of advertising on some companies but well, as long it do shows up some
action of adoption or integration then this one still to be considered as a good one.

[The Sceptical Chymist]

If they keep these things up and go full KYC on every purchase they will soon be left with no customers.

Yep, that'll be a serious deal breaker for many potential bitcoin buyers.  As it stands with CoinFlip machines, you can only purchase up to $900 worth of crypto without having to scan your ID if I'm not mistaken.  I just used one recently and made a thread about it.

Funny you quoted the fees from the article, because I was going to do the same thing.  The CoinFlip ATM that I used had fees of less than 7%, which I was fine with.  Other ATMs I've used were just outrageous, plus they required a scan of my driver's license. 

All in all that was a pretty interesting article, and if nothing else it keeps bitcoin in the news.  I'm sure they're still a novelty for most people, and I'm also sure most people who see them in gas stations, liquor stores, or wherever won't actually use them.  But for those people who can't use exchanges like Coinbase (me, for example, because they nuked my account) they're certainly a convenient way to buy crypto. 

[aoluain]

Its sort of a trade off, you get the convenience of buying Bitcoin at an ATM without KYC
but you pay a premium for it. If they do start requiring ID and go down the KYC route they
lose their niche.

My view on Bitcoin ATM's has always been positive, they are advertisement for Bitcoin,
and as more and more pop up they normalise the use of Bitcoin, thats my opinion.

[wxa7115]

These things have started to be non-news, more like adverts for the companies installing them, make a quick interview about a company, promote it and classify it as news. The most important thing in all of this is one line:

Fees range from 6% to 20% of a total transaction,

At those rates, those things are starting to target one-time shoppers, fleece them as much as they can, and then to the next buyer or more like victim rather than focusing on volume and on dedicated customers. Just for fun, I looked two weeks ago at a Batm, the fees were not that bad at 7% but buying 100 euros worth of bitcoin wouldn't get me 93euros in my wallet because they would also charge me close to 15 euros for the tx.

If they keep these things up and go full KYC on every purchase they will soon be left with no customers.

Let them keep fees that high, not only they will not get any repeat customers but the few that want to keep buying very soon are going to figure out that a peer to peer trade done face to face is probably way cheaper than what those ATMs can give you.

As you say if they had a real interest on trying to get as much money as possible they would be focusing on getting volume, for example there are gas stations that charge you a cheaper price for the gallon of gasoline and they do this because they are expecting for their clients to notice and regain that money with the increased volume on sales they will get and the same principle would work in bitcoin ATMs and the fact they are not doing this proves they do not really care that much about the volume they will get out of their ATMs.

[blockman]

Good news as usual. When there are some adoptions that happen in any place, let's be happy about it and think that it's becoming more known and popular these days and this is what we need to gain more adoption.
I still got no experience in using a bitcoin ATM as in my place there's not one in existence. And I'd love to use it someday so good thing for those folks that are near to this gas station and other places where there's an existing bitcoin atm.

[Lorence.xD]

ATM bitcoin on gas stations or on shopping complexes doesn't make much difference. Because all are a public place and pretty easy to use as well. Increasing Bitcoin ATM means it easier to use your funds although transaction fees are quite high, at least there is real use. Bitcoin ATM is effective adoption for bitcoin. As much as Bitcoin becomes easy to use the value will increase rapidly. The value doesn't mean the only price, value fully depends on the community. Hope soon we will see more Bitcoin ATMs everywhere.

The transaction fee for those ATM services is going to be regulated as soon as there are more Bitcoin ATMs that will popup and most fundamental regulations about cryptocurrency has been discussed. Hopefully by regulated I mean is that the transaction fees will go down that it is worth using. What we need is for conventional ATMs to have the ability to do transactions with bitcoin besides fiat.

[bakasabo]

This ATM cult is the US always amazed me. While people often wish to pay by credit card, or use watch/mobile for payment, or become more independent from cash, almost on every corner of the street there is an ATM. I just dont get it. Even when I was visiting US and used $100 bills (they are most frequent to given during exchange in my country), people looked weird on me. And now I read that more and more Bitcoin ATM appear.

[Bilgent]

The use of bitcoin ATM is becoming more and more popular in the cities and the latest is a bitcoin ATM installed in a gas station in the Montana and delis, having a bitcoin ATM in a gas station is another milestone for the entire usage of bitcoin what I can tell is if one can pay for gas using bitcoin in the station but the fact is bitcoin is gaining widespread adoption. What are your takes on this new development.
 Read the full details here.
https://www.reuters.com/article/us-usa-crypto-currencies-atms-idUSKBN2B714L?utm_campaign=trueAnthem%3A+Trending+Content&utm_medium=trueAnthem&utm_source=facebook

I think we will continue to see news like this much more in the future and it is one of the important things for Bitcoin adoption in as many countries as possible. And it is also a smart thing to put a Bitcoin ATM in a gas station to draw people's attention to it and incentivize them to pay with Bitcoin.

[worle1bm]

The use of bitcoin ATM is becoming more and more popular in the cities and the latest is a bitcoin ATM installed in a gas station in the Montana and delis, having a bitcoin ATM in a gas station is another milestone for the entire usage of bitcoin what I can tell is if one can pay for gas using bitcoin in the station but the fact is bitcoin is gaining widespread adoption. What are your takes on this new development.
 Read the full details here.
https://www.reuters.com/article/us-usa-crypto-currencies-atms-idUSKBN2B714L?utm_campaign=trueAnthem%3A+Trending+Content&utm_medium=trueAnthem&utm_source=facebook

Bitcoin ATMs have become a past topic as there is no coverage on large scale about such news in the market but it's good to see that more locations are adopting Bitcoin ATMs such as gas stations where it would caught the sight of more people rather than Installing them at some obselete places.Here see list of Bitcoin ATMs around the globe:

Locations of Bitcoin ATMs around the globe

There are thousands of them already installed in most of the countries due to increasing demand and rising Bitcoin popularity.

[dothebeats]

Installing a bitcoin ATM was a great concept until over time, people realize that the fees by using it on small amounts and on-the-go isn't really worth it. True that there are a lot of those installed all over different places right now, but I wouldn't be surprised if it's not getting any transactions for a week or if the numbers are lackluster than what was initially projected by the organizers.

The hype around bitcoin ATMs are slowly dying out that most people do not consider it relevant anymore. I mean it's cool and all, but who's really going to be using them with those fees anyway?

[Om.monata]

The use of bitcoin ATM is becoming more and more popular in the cities and the latest is a bitcoin ATM installed in a gas station in the Montana and delis, having a bitcoin ATM in a gas station is another milestone for the entire usage of bitcoin what I can tell is if one can pay for gas using bitcoin in the station but the fact is bitcoin is gaining widespread adoption. What are your takes on this new development.
 Read the full details here.
https://www.reuters.com/article/us-usa-crypto-currencies-atms-idUSKBN2B714L?utm_campaign=trueAnthem%3A+Trending+Content&utm_medium=trueAnthem&utm_source=facebook

this is an extraordinary discovery. because with the Bitcoin ATM at the gas station it can make it easier for motorists to withdraw money and make transactions. but in my opinion this only exists in a few countries and not all countries are able to implement this system due to regulatory constraints. so I think this is a good thing to implement in the future

[ivankoh]

The use of bitcoin ATM is becoming more and more popular in the cities and the latest is a bitcoin ATM installed in a gas station in the Montana and delis, having a bitcoin ATM in a gas station is another milestone for the entire usage of bitcoin what I can tell is if one can pay for gas using bitcoin in the station but the fact is bitcoin is gaining widespread adoption. What are your takes on this new development.
 Read the full details here.
https://www.reuters.com/article/us-usa-crypto-currencies-atms-idUSKBN2B714L?utm_campaign=trueAnthem%3A+Trending+Content&utm_medium=trueAnthem&utm_source=facebook

this is an extraordinary discovery. because with the Bitcoin ATM at the gas station it can make it easier for motorists to withdraw money and make transactions. but in my opinion this only exists in a few countries and not all countries are able to implement this system due to regulatory constraints. so I think this is a good thing to implement in the future

Really a good sound to hear.  This has demonstrated the increasing recognition of bitcoin across the US, gas stations, airports are gradually appearing bitcoin ATMs.  Obviously, the bitcoin pull is prevailing and has a really strong impact, and $ 61.6k is not a stop but a temporary dock before correcting it will produce new ATH.  This is a pretty clear statistic but the one I hear is that it has grown by almost 28k bitcoin ATMs.
https://coinatmradar.com/country/226/bitcoin-atm-united-states/

[stompix]

The hype around bitcoin ATMs are slowly dying out that most people do not consider it relevant anymore. I mean it's cool and all, but who's really going to be using them with those fees anyway?

The owners  
There is a dark side to those Batms that people would want to ignore and that they can be used for money laundering also.
Of course, not with the 20% fee, but what if you install a machine, your "friend" buy and sell bitcoins but since he's your "friend" the whole fee is just a number as at the end of the day the money is still yours. I remember one case in Spain that was quite funny, there were two Batms in a 2 by 2, 4 square meter shop that managed to turn 9 million euros in 3 months, just lol

I wonder how long it will take for gangs to realize those atms are the best money deposit boxes in the world, you get some cash from different activities and instead of trying to hide them from each cop that comes near your workplace you stuff it in the atm.

I'm sure that the number of shady Batms at this moment is quite low probably less than 1% but as things are going and with ease you can buy coins cheaper and faster using different methods probably the percentage will skyrocket, and that's when this will start gaining some unwanted attention from the government.

Expanding bitcoin payment methods can be a good way to increase interest and increase bitcoin recognition in the community, but let's look at one of the downsides:The gas station is one of the most crowded places and paying cash is quite time consuming and it is usually faster to use bank cards to pay than to use bitcoin and transfer it and confirm the transaction.

Nobody is paying for gas with bitcoins there.
It's just a Batm where you can buy or sell bitcoins, you can't pay for the products in the gas station with crypto, it's just another vending machine.
 

[nightxglow]

I saw some replies that said the fee is ridiculously high? Well i think i'm kind of out to date, since i never knew bitcoin ATM in gas station is a thing, but seeing the replies here seems like it's common already. However, if the fee is that high, ranging from 6-20%? then i doubt there will be many people who want to use that. Well maybe it's an inovation, a trend, and such. But is it really effective and efficient? will people really choose to use bitcoin atm instead of cash or others? I'm pretty sure that it might work better if the fee is lower, and of course it's a good sign already if btc is used commonly in lots of places now.