Bitcoin ATM in a gas station

[wack slacker]

I have heard about Bitcoin ATMs, crypto all over America.  They have many and can be exchanged for crypto trading, but the problem with a transaction is that the cost is too high for a regular withdrawal.  From a few percent to tens of percent is too absurd and unsuitable for regular crypto adoption.
The next problem is that transactions on the Bitcoin or etherum network will give confirmation times longer than regular transactions.  So crypto trading is no better than cash in this case.

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[fiulpro]

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

That's good but the people need to make use of the crypto debit card also , at the same time I do believe that the ATM should have a lot of customers who already know about Bitcoins and how to use it. Right now the shop might see a very limited usage. At the end of the day I do believe the ATM also have to provide good rates because now a days the market is quite competitive.

I do think they should also do an indepth analysis of how people use it in what sense. The charges need to be taken care of for sure. Then only will people use it and at the end of the day because the currency exchange is really fast (instant in many cases ) now therefore I do think they would have to somehow stand out.

[Ultegra134]

As of January, there were 28,185 bitcoin ATMs in the United States, according to howmanybitcoinatms.com, an independent research site. Roughly 10,000 came within the prior five months.

This startled me to be honest, that's numerous ATMs which makes me curious on who uses them. To be honest, I don't really find much purpose for them, the fees are way higher than any exchange out there and require much more effort in order to obtain/sell Bitcoin.

[TedMosby]

“I just assumed there was demand and people wanted bitcoin everywhere,” said Quad Coin founder Mark Shoiket, who flew to Montana after scanning a U.S. map for bitcoin ATM deserts.

yes, literally. they want bitcoin, not cashing it.  

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

and is it includes the bitcoin transaction fees? because these 6-20% fees are insane.
there's no information about the lower and upper limit for the transaction.

IMO, a bitcoin ATM at a convenience store or gas station is more for consumer users, who are there to buy something with bitcoin because they don't have cash.
a crypto POS app could be more suitable for these transactions.
but I am not sure if they can get cash with POS.

[icopress]

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.

Bitcoin ATMs are ideal for money laundering if you are not a mafia boss. For the mafia boss is unlikely to pay such colossal commission costs, at least if he is not an idiot, then he will listen to his Consigliere and will make payments using the #LightningATM.  Although I am sure that in some countries, if there is no clear regulation in the near future, a total ban on such devices will be applied.

[pinggoki]

It is normal and I know that eventually the spreading of this bitcoin atm will be happened worldwide despite that we all know bitcoin is very popular these days especially today that the price of it is very high. Just imagine that those who are getting or buying gas in the gas station doesn't have a money then they can pay those gas through bitcoin and because of the help of this bitcoin atm, the massive adaptation of bitcoin also increase. Hoping that in the next few years, many people will adapt bitcoin as an money and an assets.

[Leviathan.007]

This is another step forward to bitcoin ATMs. I'm still waiting to see how the other countries are going to accept bitcoin and we see more bitcoin atm devises in all over the world. From 2010 to 2021 everything changed. People have much more interest to bitcoin and they are usually buying bitcoin as safe investment for long term.

[stompix]

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.

Bitcoin ATMs are ideal for money laundering if you are not a mafia boss. For the mafia boss is unlikely to pay such colossal commission costs, at least if he is not an idiot, then he will listen to his Consigliere and will make payments using the #LightningATM. 

Why do you assume he is going to pay such fees?  
Do you think they ask their own cafe for protection money? No, they will install their own machine and although the mules will take a hit from the fees in cash, the company that claims to run the ATMs will make a profit and more importantly, legit profit!
They are not stupid to use a random machine for that, everything will happen just like with casinos, where they own everything.

And you know what's the funniest part in all of this?
They don't even have to sell the coins, the guy comes after closing time, runs a script faking transactions, puts inside 50k, and then the next day the accountant writes down, got from selling 45k worth of BTC 50k in cash, then the company goes bankrupt, another one pops up, rinse and repeat, it's already happening and many have already been seized by the police for such schemes.

The worse part of it is that they actually don't even make use of Bitcoin but guess who is going to be blamed as usual for all...

[Rikafip]

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?

Exactly this.

I mean, I am glad to hear that amount of bitcoin ATMs is increasing worldwide, but at least in my country they are not as popular as they used to be simply due high fees. I am among those who stopped using them as better alternatives appeared. For example, we have bitcoin store where you can buy & sell up to ~$2,300 worth of crypto every day without any ID, and all that for fee that is at least 20-30% lower than at the ATM. So of course I won't think twice what will I use for cashing out or buying as all those fees adds up.

[TimeTeller]

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?

Exactly this.

I mean, I am glad to hear that amount of bitcoin ATMs is increasing worldwide, but at least in my country they are not as popular as they used to be simply due high fees. I am among those who stopped using them as better alternatives appeared. For example, we have bitcoin store where you can buy & sell up to ~$2,300 worth of crypto every day without any ID, and all that for fee that is at least 20-30% lower than at the ATM. So of course I won't think twice what will I use for cashing out or buying as all those fees adds up.

The presence of these bitcoin ATMs will drive other people's curiosity.
And at least try what is going on in this machine.
For those of us, that know how to cash out without spending such amount of fees, ATM is really not our option.
But the existence of these ATMs may drive adoption one way or another.
It is the same as going to a convenience store like 7-11, we know that their prices are quite higher if you compare it to supermarkets.
But still, we got to these stores for convenience. And so with these ATMS. Some will people will use it for convenience even with high fees involved.

[adzino]

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.
-snip-

Bitcoin ATMs are quite common where I live. Like you will see at least one bitcoin ATM on every major spot. Good thing that they are setting up more ATMs. The more bitcoin ATMs, the more people will know about this. At least people who don't know what bitcoin is will end up being curious when they see those ATMs and may look it up later. Who knows, they might even start investing because of that one ATM.
But I doubt you will be able to pay for your gas using bitcoin. Imagine you have to wait more than 10 mins (lets not talk about the situation where the network is congested) for getting a confirmation.

[Rengga Jati]

I am so happy to know many more countries allow many more ATMs installed in their area. And many more countries legalize Bitcoin as currency as one of the payment methods.
This is very different in my country where Bitcoin and also cryptocurrency is not legal as payment method.
But fortunately, they're legal as digital assets or commodities.

However, I found that there are several ATM Bitcoin also in my country.
Well, aside in my country the development of Bitcoin ATMs around the world is so fast and we can track it much more installed.
It means that many more people concerned about using Bitcoin ATM for any transactions or utility. It may be mainstream someday

[Yatsan]

I have already read about Bitcoin ATMs being present on some cities that are intended to make people be more accessible on getting into Bitcoin through nearby ATM outlets present on their places. Well the existence of such machines is already a great example of how Bitcoin adaptability is being presented to the mass crowd to be able to let them know Bitcoin existence. Now with regards to Bitcoin ATMs being installed into gas stations, that is already a great innovation on how users can be able to make use of their Bitcoins upon purchasing gas wherein they can directly make payment through their Bitcoin. I just do hope that this may be present also into other places soon.

[kawetsriyanto]

Bitcoin ATMs are quite common where I live. Like you will see at least one bitcoin ATM on every major spot.

Unfortunately, it is very different from the situation in my country. Here, Bitcoin can't be a payment tool, so we only have 3 Bitcoin ATMs in my country till today. Those 3 Bitcoin ATMs never improved because people just use the Bitcoin ATM for buying, while buying with Bitcoin ATM requires more expensive fees. So, the number cannot improve and people aren't interested to use it. Well, this makes no Bitcoin ATMs in the major spots like in a gas station.

[MrcMrc]

Bitcoin ATM in a gas station is a significant improvement in the BTC ATM sector, I used one recently in a Miami nightclub. But the major challenge is the KYC security process, which requires personal details. Such as scanning your driver’s license and ID number.

But it’s an excellent development for those who don’t care about privacy.

[Kong Hey Pakboy]

Bitcoin ATM in a gas station is a significant improvement in the BTC ATM sector, I used one recently in a Miami nightclub. But the major challenge is the KYC security process, which requires personal details. Such as scanning your driver’s license and ID number.

But it’s an excellent development for those who don’t care about privacy.

Maybe if these ATM created their own cards so that you don't have to worry about scans of your personal details, Iove the idea of this one but the only available bitcoin ATM doesn't have the ability to do some bitcoin to fiat transactions, maybe if a company were to improve upon the bitcoin ATM hopefully we can see one or maybe there is one already and I haven't heard of it yet.

[nutildah]

They've been popping up in the weirdest places. So far I've seen bitcoin ATMs in an organic health food store, inside a surf shop and then also a tattoo parlor. We went from having none to several in the course of a year. I notice that most such ATMs around here are made by CoinCloud and serviced by BitAccess... They seem to be the Ford Motors of bitcoin ATMs.

[macson]

This is another step forward to bitcoin ATMs. I'm still waiting to see how the other countries are going to accept bitcoin and we see more bitcoin atm devises in all over the world. From 2010 to 2021 everything changed. People have much more interest to bitcoin and they are usually buying bitcoin as safe investment for long term.

i grateful to live in a country that is not hostile to Bitcoin so we see many BTC ATM machines in crowded places.  over the last ten years, Bitcoin has grown enormously.  hopefully, it will spread throughout the world.

Bitcoin ATMs are quite common where I live. Like you will see at least one bitcoin ATM on every major spot.

Unfortunately, it is very different from the situation in my country. Here, Bitcoin can't be a payment tool, so we only have 3 Bitcoin ATMs in my country till today. Those 3 Bitcoin ATMs never improved because people just use the Bitcoin ATM for buying, while buying with Bitcoin ATM requires more expensive fees. So, the number cannot improve and people aren't interested to use it. Well, this makes no Bitcoin ATMs in the major spots like in a gas station.

sorry for what happened in your country, people's understanding of Bitcoin is not evenly distributed around the world, your country may still not be aware of or are studying the benefits of Bitcoin.  wait a few more years, maybe it will be different in your country.

[isaac_clarke22]

~

I remember a thread made by "The Pharmacist".
There are numbers of ATMs that don't need KYC verification as well.
Here in my country, I am not sure if those rare ATMs I can see in the metropolitan area even require KYC, but I am pretty sure they are because government here is aware that cryptos are being used for scams by different people.

[milani]

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

Not every ATM draws lines of customers, it is true. And may be someone will consider the fee variety diapason not suitable, but in my opinion it is good that such ATMs appear, and the opportunity to use them appears for those who will prefer ATM to online payment. All in all in case lots of people that visit gas station may prefer to buy in some mini shop there something to eat instead of water. It does not mean that the water should not be on the shelves. There will be some clients that will search for water. And it is good that people of businesses or companies think about different things that can make their business to get on higher level. Because crypto gives such an opportunity.