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

[Baofeng]

Isn't it funny though, majority here haven't used Bitcoin ATM, hehehe, well for me if there is one that is near my place then why not?

I know the fees are going to kill me, but if circumstances tells me to do it then definitely I will. Before the pandemic, I'm also thinking of doing this as sort of experiment on my end and to have the experience. But maybe before the end of the year, I will do this as sort of test on my end.

[Flexystar]

Excellent reading this thread and how everyone’s experience is completely different from location to location I guess. Because of the members claiming that they can only withdraw up to $100 everyday if you don’t upload your documents and daily limit is 2-4K USD (?).

However Some of them are able to withdraw it irrespective of their documents requirement and limitations everyday. This must be from USA since most of the ATM in US are just easy to use scan your QR and get the stuff!

However, I see no point in scanning documents if bitcoin is decentralised.

[Renampun]

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?

in my country, there is not a single bitcoin ATM circulating...

the rules against bitcoin made by the government of my country are very strict and bitcoin cannot be used as a means of payment. but I have a friend on social media and coincidentally he lives in a country where there are a lot of bitcoin ATMs there, he said that the fees charged were very large (when we buy bitcoin through the ATM), not so profitable. Is that true?

[Fivestar4everMVP]

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?

Why not?, though alot of bitcoin ATM 's are already installed in strategic places in my country, am yet to come across one in my locality.
But then, if or when I do, I can't wait to use them, will love to try it out, if not for any thing, atleast, to know how it functions, when I try it for the first time, my experience with it will tell if I should keep using the bitcoin atm or quit forever, or maybe until it becomes more rampard like fiat atms, atleast by then, there will be plenty competitions among the owners and this will bring transaction fee down.

[Artemis3]

I don't think i ever will.
First, we went cashless here years ago thanks to the magic of hyperinflation...
Second, its a physical KYC. Those things are recording you and taking your biometrics.
Third you could be spotted and followed by criminals.
Fourth, their fees are not funny. Far higher than any exchange.
Fifth the goal is to never exchange again. Pay and be paid with bitcoin is the true independence.

People from "nice" countries with low criminality and a "stable" fiat, might see a "need" for ATMs, i don't.

[elisabetheva]

if according to the information I know from the literature I've read that BTM was launched in October 2019. The number is still very limited. but with developments that continue to occur and the number of people in need will certainly continue to grow.
BTM has internet access which allows you to make transactions through its machines. The internet network will directly connect BTM with the user's Bitcoin exchange or wallet. This service makes it easy for every user to buy Bitcoin personally, without going through other parties.
about BTM security, your transactions can be completed in seconds. Its anonymity feature provides security for customers to maintain their identity. No details about your wallet are known and shared by others, especially foreigners.

[Emitdama]

in my country, there is not a single bitcoin ATM circulating...

the rules against bitcoin made by the government of my country are very strict and bitcoin cannot be used as a means of payment. but I have a friend on social media and coincidentally he lives in a country where there are a lot of bitcoin ATMs there, he said that the fees charged were very large (when we buy bitcoin through the ATM), not so profitable. Is that true?

High fees when using bitcoin ATM can be true because if you read above, some users are also saying the same thing. Indeed it's not profitable if you will only depend on it or if you will use it as your primary source of buying bitcoin but they are good for emergency use only like you need bitcoin in an instant and the other sources that you use to buy bitcoin are currently not available.

You are lucky that bitcoin in your country is still allowed even not for the means of payment but who knows, maybe they will change their view towards bitcoin in the future. Don't worry because you're soon going to experience this bitcoin powered ATMs.

[e_abrams]

No, I have never used a Bitcoin ATM. I am not even sure there are any in my country.That said, I am certainly curious to use one and I hope that some will pop up sooner or later, they seem to be popping up in plenty of places already. With Bitcoin's growing popularity that seems inevitable, I believe.

[Hyphen(-)]

Bitcoin is having great development daily due to technology advancement, so hearing about Bitcoin ATM made me think how versatile bitcoin has gone in the world and well accepted it is in the world. I am sure it was created to make transactions more easier in terms of withdrawal, and it will make people embrace cryptocurrency and bitcoin more.

[Desmong]

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 can only use a Bitcoin ATM if it has wonderful features that are not available using my wallet doing transaction. For me, I see no need of using Bitcoin ATM  although, I don't know in the future if there will be a need for it. I have not seen it nor use a Bitcoin ATM before and I don't know what features it has and the reason for it creation. If their is a need to use one and it available, then I will have no choice than to use it.

[KennyR]

I haven't used to bitcoin ATM. There is no bitcoin ATM available close to me residence. Even if it is available I couldn't have used it, because through various articles came to know that bitcoin ATMs have high charge compared to the exchanges. Why to spend more when you've got access to make a transaction from your home. If I'm not wrong, it'll take atleast few years time to see a bitcoin ATM in my region.

[24Kt]

I haven't used to bitcoin ATM. There is no bitcoin ATM available close to me residence. Even if it is available I couldn't have used it, because through various articles came to know that bitcoin ATMs have high charge compared to the exchanges. Why to spend more when you've got access to make a transaction from your home. If I'm not wrong, it'll take atleast few years time to see a bitcoin ATM in my region.

I think, it is the high fees that comes with it while many people are avoiding this machine. But for some, they just want to try and experience a bitcoin ATM. But for most transactions, crypto users still opt for online trading platforms. Maybe, convenience also is one reason why people are using ATM. But if you want to save some fees, you will look for other online options.

[btc78]

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 .

I think that the biggest competitors to Bitcoin ATMs are local crypto exchanges where you can buy and sell crypto in your local currency. I'm not sure if it's the same in all countries, but in the European union KYC is not needed if you are selling or buying less than 2.000€ worth of crypto. And most of those local exchanges charges much less fee than 10%.

Indeed mate because I myself is a regular user of local exchangers in which more accessible and easy to use , because the price can easily change by seconds so the very moment that i Needed cash then i will automatically convert my funds here or there.
so basically?  KYC is the only problem as we need to complete data from time to time and that made us sometimes doubt the trut on them .

[AicecreaME]

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?

Haven't really stumbled upon bitcoin ATM in our country just yet. Perhaps there's none in our area because we haven't really adopted and legalized bitcoin here, but it is recognized by the central bank and government, though not openly and widely in favor about it. They still perceive it like everyone else not ready for its in-depth benefits. Hence, the reason why none is installed here.

Based on previous articles I've read about it, there are certain fees you'll need to pay for the transaction processes which happens to be a little higher compared to usual. Maybe because this is a kiosk and of course, they have to maintain it. I'm not really sure about the KYC part, but if they really require it if you're transacting amount, it would be hard to drop off details just like that. Especially to those who are uncomfortable with it.

[RyanSmith23421]

If you're trying to keep your anonymity, I wouldn't recommend you to use a BTC ATM. In my case, I think I would use it...

[amihada]

I am very jealous of countries that already have bitcoin atm hopefully in my country there will be a bitcoin atm soon, maybe in the near future I will visit a country that uses bitcoin I want to feel how to use a bitcoin atm.

[Anonohmon]

Only way I buy bitcoin now because I want anonymity. Use a burner phone paid for via cash and this is how you can still get anonymous bitcoin in the 2020s..... damned I hate I wasn't into this back in the day when you could buy bitcoin on an exchange no KYC needed

One day soon probably, they'll get rid of this.

However, with the high rates they charge? 60 f***king thousand dollars for bitcoin when it's only 38k....
Yeah you know, I think that should count as paying taxes.

[BlackBaron]

Based on previous articles I've read about it, there are certain fees you'll need to pay for the transaction processes which happens to be a little higher compared to usual. Maybe because this is a kiosk and of course, they have to maintain it. I'm not really sure about the KYC part, but if they really require it if you're transacting amount, it would be hard to drop off details just like that. Especially to those who are uncomfortable with it.

Everyone may not agree to be required KYC because they value being anonymous for silence funds, but I believe that bitcoin ATMs have to get permission from the government and maybe they have implemented tax rebates and requests for personal data from every transaction on Bitcoin ATM.

[mindrust]

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 don't think I would ever use one. First of all, they are ripping you off. They buy very low, sell way too high. They probably do it because it is a bit risky to own ATM's but no matter what their excuses are, the fact still stays same, they are expensive to use. Security is a concern too but it is less important. The main deciding factor is their fees and it is not pleasant.

[rodskee]

Based on previous articles I've read about it, there are certain fees you'll need to pay for the transaction processes which happens to be a little higher compared to usual. Maybe because this is a kiosk and of course, they have to maintain it. I'm not really sure about the KYC part, but if they really require it if you're transacting amount, it would be hard to drop off details just like that. Especially to those who are uncomfortable with it.

Everyone may not agree to be required KYC because they value being anonymous for silence funds, but I believe that bitcoin ATMs have to get permission from the government and maybe they have implemented tax rebates and requests for personal data from every transaction on Bitcoin ATM.

the Only question is for you to use Bitcoin ATM why need to further more? just answer directly lol.

Me? I will use ATM as long as there is available machine in my location , but the sad part is that we are very far from the ATM machine installed , it was in the city while Mine is far from the place.