Have you, or would you ever use a Bitcoin ATM?

[SmallDoggy]

I've seen them pop up all around me, in small convenience stores and even restaurants. I was wondering if it's a good option to buy a gift for someone else, or are the fees too high and it's not worth it? Also I'm not sure how it works but figuring they give you a private key, and how safe is that?

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[suryana]

for now we have not used bitcoin ATMs or seen bitcoin ATMs themselves because in my country it is not yet fully public for widespread adoption of bitcoin and also in coins it is still not officially legalized.so to make transactions or use bitcoin ATMs it has not been realized until now because these factors.but if bitcoin has begun to be accepted and adopted in various worlds, it is not impossible that we can also make legitimate transactions or use bitcoin ATMs to carry out a transaction process.

[ChiBitCTy]

This is a great question.  I had looked in to using an ATM before but once I did the research, I decided against it.  I was first looking to see how much money you could exchange for bitcoin without having to provide a lot of personal details.  There was some sort of small amount, one hundred bucks or so then you had to provided personal data for anything else.  I think I had limits of like 2-4k a day for buying and selling, something like that ( don't quote me 100% on that).  At the end of the day I came to realize it was just too much of a pain and too expensive.

[Vaskiy]

There is no bitcoin ATM available in my location. Going through the internet came to know about an ATM located around 2k miles away from my location. When studied about the transaction costs I found it to be 7% to 20% depending on the brand which has installed the ATM kiosk. This is a much higher fee against the cryptocurrency exchange cost on a transaction. Even if more ATMs were installed on third world countries, it is a must to concentrate on low transaction fee to make users use it.

[peter0425]

I've seen them pop up all around me, in small convenience stores and even restaurants. I was wondering if it's a good option to buy a gift for someone else, or are the fees too high and it's not worth it? Also I'm not sure how it works but figuring they give you a private key, and how safe is that?

if it is available in your area then never spare time to try and check it out imagine that in many countries and many places? crypto users is dreaming of having ATM for them to experience but you are still asking?

I have used ATM bitcoin once and yeah it is a great experience .

so take your chance and use it now, and trust me you'll come back if having opportunity again though nowadays there are lot of option in my place to cash out funds from crypto to fiat so ATM does not really in that demand .

[Fundamentals Of]

For as long as premium fees are not that terribly high and that personal details are not asked, it is actually a convenient way to buy, especially if you have a Bitcoin ATM near you or one that is accessible. Especially if what you have is only cash and you don't have much payment option to buy Bitcoin like paypal, cards, bank accounts, etc buying through an ATM is a good alternative. But I haven't used one. With my circumstances I think I won't be looking for a Bitcoin ATM to buy Bitcoin.

As to private keys, I don't think you are normally provided one. But there are ATMs I think where you could provide your own address, one that is not custodial.

[davis196]

There aren't any Bitcoin ATMs in the town where I live.
Even if there were Bitcoin ATMs,I can't find any reason to use one.There's no point for me to use an BTC ATM.
Bitcoin ATMs are a dead business model,if you ask me.We have computers and smartphones,what's the point of ATMs?Using a BTC wallet on your computer or smartphone is way more convenient and probably cheaper.
ATMs are good for fiat money,not for crypto.I've been using ATMs for fiat money and I won't stop doing so.

[slackovic]

There are several Bitcoin ATMs where I live but all of them have pretty high fees. If I remember correctly, fees were close to 10% and I'm not paying that much. Because of that I prefer P2P trading when I need cash - it's cheaper and you get to talk to a crypto person about crypto. A win-win situation

[Poker Player]

I've seen them pop up all around me, in small convenience stores and even restaurants. I was wondering if it's a good option to buy a gift for someone else, or are the fees too high and it's not worth it? Also I'm not sure how it works but figuring they give you a private key, and how safe is that?

I tried once, selling a small amount. I simply wanted to test how they worked in person. In my case the one I used did not require KYC, you simply send the amount in Bitcoin required, when the payment is confirmet a QR code appears on your mobile, you scan it on the machine and it gives you the money. I don't remember exactly the fees but it was something like 5-10%. It didn't seem that expensive for what I had heard and a non-kyc system of selling fast.

[worle1bm]

Till now not have experienced using any Bitcoin ATM as don't have any around me but yes surely wants to try it out once to get used to the working.Although aware about how it actually works but want to test it in reality but the fees varies for the different ATM's which i know but giving out once is worth trying.So whenever get the chance or visit the place having such services then will give it a shot.

[avikz]

I've seen them pop up all around me, in small convenience stores and even restaurants. I was wondering if it's a good option to buy a gift for someone else, or are the fees too high and it's not worth it? Also I'm not sure how it works but figuring they give you a private key, and how safe is that?

Frankly, I have never used a bitcoin ATM because it doesn't exist in my country. One company tried to setup one ATM and the owner of the company got arrested by the police on the same week of installation. So I don't think I will be able to see anymore ATM in my country in near future. But I am not very eager to use bitcoin ATM unless it is completely anonymous. ATM has cameras and the company may ask you to do a quick KYC before you can actually use it. If that is the case, I would never use a bitcoin ATM personally and would not recommend anyone to do so.

But yes, if it is anonymous where no cameras will be installed and no KYC will be needed, I may try it once out of curiosity. That's it!

[Jasad]

Still not yet have experience using Bitcoin ATM because my country not adopt bitcoin as legal currency payment and not allowed using Bitcoin ATM, I think better not using Bitcoin ATM when cashing out our money because prefer hidden with my self as cryptocurrency investor. I want to keep hidden to public about my job as investor and trader on cryptocurrency because getting risk from asking some people to teach them how to get profit in cryptocurrency trading. Not easy when getting profit from crypto many people claimed as cryptocurrency as the best investment how to earn much profit. I hope keep not allowed bitcoin as legal currency transaction and haven't with Bitcoin ATM in my country.

[Rikafip]

I was wondering if it's a good option to buy a gift for someone else, or are the fees too high and it's not worth it?

It all depends what your other options are. One of the biggest advantage of BTC ATM is that they often don't ask for any sort of documents, but then again that depends on the country you are living (in my country I can do it completely anonymously). Regarding fees, they are generally high so if anonymity is not your priority or if you can't buy via BTC AM anonymously, there are much better ways to buy and sell Bitcoin.

Also I'm not sure how it works but figuring they give you a private key, and how safe is that?

No, you don't have to give your private key and anyone asking you for that is scammer. The way it works is simple: you choose on ATM the amount of BTC you wanna buy ( for example $100 worth of BTC), then the machine scans qr code of your wallet so it has the address where BTC will go, and in the end you insert the bills in the machine and that's about it. BTC will be sent to your address and you will get a receipt.

About my personal experience, I've been using BTC ATM exclusively for several years, but when fees became too high for me (iirc 2 years ago) I decided to find other ways. I still use it occasionally, but only as a sort of  last resort.

[TheNineClub]

I have to admit, I haven't used a Bitcoin ATM, however, I know people who have and do it regularly. I don't see anything wrong with it. If anything, I would say it makes crypto perceivable more real to the average consumer. The ease of accessibility is a big factor in mass adoption. Are ATMs safe? Well, I'd say more or less the way FIAT ATM's are safe, you can still get robbed in front of it, or in the system XD

[Mauser]

I've seen them pop up all around me, in small convenience stores and even restaurants. I was wondering if it's a good option to buy a gift for someone else, or are the fees too high and it's not worth it? Also I'm not sure how it works but figuring they give you a private key, and how safe is that?

For now I haven't used a Bitcoin ATM, the idea of ATMs that accept cryptos is a good and should be supported worldwide. I am not even aware that there is one close to my home. If there was one close to my home, I probably wouldn't be using it to be honest. I rarely use cash these days, paying with cards is just so much easier and faster. Carrying around large amounts of money is a thing of the past. Also I am trying to build up my crypto portfolio, so withdrawing coins from my wallet and converting them to Fiat money is not really my interest right now. It could be a big alternative when travelling on vacation to have the option to get local cash from our crypto wallets instead of paying high fees to our banks.  

[pakhitheboss]

I have personally never used a Bitcoin ATM but, I have read that the fees in these ATMs are very high when compared to an exchange. There have been instances when they have also displayed the wrong USD value of Bitcoin. Considering those two issues it would be wise to either avoid them or be careful while using them. I am not discouraging anyone here but why pay a high fee when you can buy on an exchange for less fee.

[bakasabo]

Two facts that repel users from using Bitcoin ATM: 1) exchange fees are usually higher compared to making similar exchange on  exchanges, with users help or by using telegram bots (for example) 2) they dont offer 100% anonymity right now (have cameras close to where ATM is installed or ask to receive SMS for deal verification).

I would have used Bitcoin ATM, if there were one close to me. I definitely not gonna go there on purpose, as buying Bitcoin ATM from home is still more comfortable.

[btc78]

I've seen them pop up all around me, in small convenience stores and even restaurants. I was wondering if it's a good option to buy a gift for someone else, or are the fees too high and it's not worth it? Also I'm not sure how it works but figuring they give you a private key, and how safe is that?

it is our privilege to use ATH machine as they are designed for all Bitcoin users to have an advantage  but that was back in the days as we now have more option in using our bitcoins , there are even stores directly accepting crypto payments and even Online casino and grocery and shop offers as well.

and there are many option in exchanging Crypto to Fiat  as p2p is open now in many online wallets and meet ups.

There are several Bitcoin ATMs where I live but all of them have pretty high fees. If I remember correctly, fees were close to 10% and I'm not paying that much. Because of that I prefer P2P trading when I need cash - it's cheaper and you get to talk to a crypto person about crypto. A win-win situation

yeah those are the disadvantage of using ATM because of the higher fees when in local wallet conversion we can only lose penny .

[btc_angela]

I've seen them pop up all around me, in small convenience stores and even restaurants. I was wondering if it's a good option to buy a gift for someone else, or are the fees too high and it's not worth it? Also I'm not sure how it works but figuring they give you a private key, and how safe is that?

Found some similar threads in the past.

• My first time using a Bitcoin ATM
• Finally used a bitcoin ATM successfully!
• What do you think about Bitcoin ATMs?
• Bitcoin/ Crypto ATM's

Personally, I have used one, but the fees is expensive as per discussions on the threads above. I'm not sure if this is viable as a gift though, you might want to look at Opendime: https://opendime.com/

[PrivacyG]

Used them until Know Your Customer has been enforced.  Now I have to drive a long way to find the ATM I need.

I would use an ATM long as it provides the privacy I am looking for.  As in, long as I do not have to scan my ID to purchase or cash out.  Otherwise it makes no sense and I would rather use an exchange instead.  Imagine giving up your ID and cashing out 5 to 15 percent less due to exaggerated fees.  It makes more sense to create an exchange account instead, verify your identity and cash out at spot price.

Also.  High fees are typically for selling Bitcoin.  If you want to purchase Bitcoin, they typically offer spot prices or at most a 1% fee.  For this reason, purchasing Bitcoin through ATM's is worth it.

2) they dont offer 100% anonymity right now (have cameras close to where ATM is installed or ask to receive SMS for deal verification).

It is VERY hard to get 100% anonymity nowadays.  Only if you very carefully do a Peer to Peer trade in a spot with no cameras, but then you wonder why would you meet a random stranger in a place with no cameras to complete a transaction.  I still believe ATM's provide more anonymity than a Centralized Exchange does.

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Regards,
PrivacyG