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Author Topic: Have you, or would you ever use a Bitcoin ATM?  (Read 2018 times)
Wapinter
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July 14, 2023, 07:39:45 PM
 #241

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 wish we would have bitcoin atms in my country too. I would definitely love to use them.
But unfortunately it seems a distant dream.
Though with crypto you don't really need atm because the very purpose of crypto is using digital forms to tranfer money.
We can always use our mobile for paying with crypto and it is a great convinence.

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July 14, 2023, 08:55:57 PM
 #242

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 wish we would have bitcoin atms in my country too. I would definitely love to use them.
But unfortunately it seems a distant dream.
Though with crypto you don't really need atm because the very purpose of crypto is using digital forms to tranfer money.
We can always use our mobile for paying with crypto and it is a great convinence.
Likewise myself, I would like to use Bitcoin ATM too because it shows that the people living in that particular region where the Bitcoin ATM is available or situated has high number of Bitcoin investors and adopters who are always ready to use it. I have seen some of the Bitcoin ATM online and I have been longing to use one at least in my lifetime so that I can share my experience with people on what it looks like operating it. Jurs like the normal fiat ATM machine that we have, I hope the Bitcoin ATM machine will not be easily hacked where users can lose there secret codes that can lead to the disappearance of there funds.









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July 16, 2023, 05:55:42 AM
 #243

~snip~
Bitcoin should make our life easier. The example you gave really helps. When you go to another country, you can use the Bitcoin ATM as if you were shopping from your own market. It's great to have such an opportunity. Considering that these ATMs are in many parts of the world, it makes our life even easier. It can be very useful if an adjustment is made to the fee charged for the transaction made at ATMs.

Everything will be much better when it is started to be used in stores as well. We need time for these to happen. We know that time passes very quickly. This is good news.

Yeah, it takes some time for people to adopt new things.

Even with bank cards it took some years for people start to use them, similar to online shopping as it was possible in the late 90s already, but not many people did it back then.

We'll see how it goes, specially with lightning, it will make everything easier. It's just money in the end.

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July 17, 2023, 07:19:01 AM
Last edit: July 17, 2023, 08:12:56 AM by lepbagong
 #244

Likewise myself, I would like to use Bitcoin ATM too because it shows that the people living in that particular region where the Bitcoin ATM is available or situated has high number of Bitcoin investors and adopters who are always ready to use it.
You are of course very lucky to be able to try it, because indeed there is an ATM in your area, but where I am it is still a separate ban and doesn't exist yet, because direct transactions with bitcoin are not yet recognized.

I have seen some of the Bitcoin ATM online and I have been longing to use one at least in my lifetime so that I can share my experience with people on what it looks like operating it. Jurs like the normal fiat ATM machine that we have,
of course there is a desire to be able to try using a bitcoin ATM because it will be different from ATM fiat in general, although maybe the transactions may be the same. but there is a distinct sensation of being able to use a bitcoin ATM, like you said of course this will be an experience in itself.

I hope the Bitcoin ATM machine will not be easily hacked where users can lose there secret codes that can lead to the disappearance of there funds.
as often happens with fiat ATMs, of course we hope that bitcoin ATMs can't happen in the same situation, because of course this is something that is very feared and it will be difficult to track down what happens in the event of a hack, when compared to fiat ATMs. it is possible that all of the funds at bitcoin ATMs will be lost, but not with fiat, it is certain that there are restrictions for each withdrawal.

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July 17, 2023, 08:26:39 AM
 #245

I think I would try using Bitcoin ATM, just to get familiar with the process and see how fast and convenient everything will go. But I think I wont be using it on a regular basis. The stories of high fees are pushing me away from using Bitcoin ATM, and p2p so far is the more profitable way. Also the possible KYC in Bitcoin ATM prevents me from using it. Third reason would be lack of cash. I nearly dont carry cash at all. I've got few tens just for emergency case, and use card everywhere.

R


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July 18, 2023, 05:35:08 AM
 #246

I think I would try using Bitcoin ATM, just to get familiar with the process and see how fast and convenient everything will go. But I think I wont be using it on a regular basis. The stories of high fees are pushing me away from using Bitcoin ATM, and p2p so far is the more profitable way. Also the possible KYC in Bitcoin ATM prevents me from using it. Third reason would be lack of cash. I nearly dont carry cash at all. I've got few tens just for emergency case, and use card everywhere.

I think you can make card transaction at some of the Bitcoin ATMs.

There is usually a small limit for those transactions because they could in theory cancel the transaction from the bank and keep the bitcoin, but I remember reading at some point that you could buy a small amount with card.

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Uruhara
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July 25, 2023, 08:53:13 AM
 #247

I think I would try using Bitcoin ATM, just to get familiar with the process and see how fast and convenient everything will go. But I think I wont be using it on a regular basis. The stories of high fees are pushing me away from using Bitcoin ATM, and p2p so far is the more profitable way. Also the possible KYC in Bitcoin ATM prevents me from using it. Third reason would be lack of cash. I nearly dont carry cash at all. I've got few tens just for emergency case, and use card everywhere.
Nowadays people are starting to rarely hold large amounts of cash. I also include people who don't hold much cash except just preparing for urgent conditions.

Using a Bitcoin ATM I think many people who have been investing and trading in bitcoins for a long time want to try but have not had the opportunity to use a Bitcoin ATM machine. Me too. I want to try it if it's available in my country. unfortunately in my country it is no longer available. only in 2014 did bitcoin ATM machines ever exist in my country. But for now it seems that it is no longer there. I just wanted to try to buy a few and make it a fun experience.

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July 25, 2023, 09:05:33 AM
 #248

Not all countries supported and have Bitcoin ATM and difficult get experienced using Bitcoin ATM service, I live in country not really supported Bitcoin as legal payment currency transaction and difficult for local exchange currencies give us service for using Bitcoin ATM. Actually we have use directly ATM trough Bank supported and withdrawing bitcoin fund to bank account before getting cash trough Bank ATM.
I heard with Bitcoin ATM take higher fees each time transaction for getting cash money, based on several countries have been supported with Bitcoin ATM deduct 8% until 12% fees for cashing out our bitcoin fund trough Bitcoin ATM.

I want to try how excited using Bitcoin ATM as my first experienced but which in Asian have supported with Bitcoin ATM as my country is in the continent of Asia? Any one know and could recommended about Bitcoin ATM available in Asian countries?

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rachael9385
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July 25, 2023, 09:31:02 AM
Last edit: July 25, 2023, 10:23:07 AM by rachael9385
 #249

I think I would try using Bitcoin ATM, just to get familiar with the process and see how fast and convenient everything will go. But I think I wont be using it on a regular basis.

Yes that's a good idea, I don't think I will be using Bitcoin 🏧 ATM anytime soon because in my country our government do not approve the idea of adopting Bitcoin, so for me using Bitcoin ATM, that will be if I live the state or the government has approved it.
I will love to use it so I can be well familiar with it, I don't think Bitcoin ATM can be completely different from Fiats ATM, based on the photos I have seen I believe anyone who is familiar with Fiats ATM can as well use Bitcoin ATM.

R


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July 25, 2023, 05:25:27 PM
 #250

I imagine if I had a huge salary, I would partner with a BTC ATM and they could film me dumping my first month's salary into the ATM for BTC. Then social media could argue about how stupid that was, while we do a followup video in a year to see how wise the choice was.


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July 25, 2023, 09:36:27 PM
Merited by JayJuanGee (1)
 #251

I think I would try using Bitcoin ATM, just to get familiar with the process and see how fast and convenient everything will go. But I think I wont be using it on a regular basis.

Yes that's a good idea, I don't think I will be using Bitcoin 🏧 ATM anytime soon because in my country our government do not approve the idea of adopting Bitcoin, so for me using Bitcoin ATM, that will be if I live the state or the government has approved it.
I will love to use it so I can be well familiar with it, I don't think Bitcoin ATM can be completely different from Fiats ATM, based on the photos I have seen I believe anyone who is familiar with Fiats ATM can as well use Bitcoin ATM.
Bitcoin actually isn't ban in the general public in Nigeria it's just the CBN that stated a restriction of transaction with btc and commercial bank and other than that people are quite enjoying their business that involves the use of Bitcoin and moreover maybe it's the locality where you are situated in that prompt you to say you haven't actually seen a BATM in Nigeria, well to shock you they are a couple of them up in Lagos Nigeria and even the Central capital being Abuja.

R


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dlightag
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July 25, 2023, 10:52:11 PM
 #252

The world is seriously Changing towards digital where assets will be more holding in digital with a help of Blockchain technology, Bitcoin ATM is not a surprise, if our local currency can be used ATM machine, Bitcoin can do more better than our local currency as the world upgrade have to follow the trend.
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July 25, 2023, 11:03:37 PM
 #253

The usage of Bitcoin ATM is a expensive process compared to that of the exchanges. This makes people prioritise exchange services over ATM usage. Large number of ATMs were installed in specific countries and this makes the accessibility good in specific region. The widespread of bitcoin ATMs need to take place, and this will help with better usage amidst the high transaction fee. Most people are interested in setting bitcoin ATM as it gives good revenue based on the company that installs it. With time the installation of bitcoin ATMs were found high, but this isn't installed all around the world.
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July 31, 2023, 08:31:00 PM
 #254

The steady growth in technology have really made it possible for everybody to just use their Mobile phone to carryout some transaction either bank transaction or Blockchain transaction,   so, it depends on the situation that am faced with, that's what can make me use the Bitcoin ATM, if  am in a situation where I can not use just my phone to carry out my Bitcoin transaction, that's only when I will use the Bitcoin ATM. There is an article I read about fees for Bitcoin ATM and it seems very expensive than the normal P2P transaction of Bitcoin.

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August 01, 2023, 09:17:23 AM
 #255

I have never used a Bitcoin ATM, because I don't see the point in it. You can buy and sell crypto on the exchange or even in a wallet.
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August 01, 2023, 01:05:25 PM
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 #256

I have never used a Bitcoin ATM, because I don't see the point in it. You can buy and sell crypto on the exchange or even in a wallet.

It's similar to the difference between a convenience store and a supermarket.

Sure, most supermarkets will probably be cheaper, larger, etc, but sometimes they close earlier, or might be far away.

That's when a convenience store would make sense. In specific cases where you need to go there sporadically.

With a Bitcoin ATM, imagine traveling the world and going anywhere, and you only need your Bitcoin wallet to get local cash, without using any banks. Quite convenient.

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Gallar
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August 03, 2023, 03:09:18 AM
 #257

So far, I have never used a bitcoin ATM machine, never even seen it in person. Even though in my country bitcoin ATMs already exist at three points(that I know). But because from where I live, the ATM is very far away, so I never tried it or saw it up close. Plus, right now I don't really need the bitcoin ATM machine. Because in my opinion, it's simpler and more practical to buy bitcoin through an exchange. In terms of security too, I think it could be more secure. Because people will never know when I buy bitcoin. But if you use a bitcoin ATM machine, at least there will definitely be lots of people passing by and passing by, while using the ATM machine. So in terms of privacy, I think this ATM machine is very vulnerable.

Because indirectly, if for example I use the bitcoin ATM machine and people see it. Automatically these people must have thought that I was a user or a bitcoin investor. It's better if, for example, the people who see me making transactions at the bitcoin ATM are good people. But what if the people who see me are bad people, I'm afraid I will be targeted by these people. So I think if you use a bitcoin ATM for now, you can say it's still not efficient. Because there are many considerations and what I read, transaction fees at bitcoin ATMs are quite expensive.

So for people who have used those bitcoin ATMs, are the transaction fees really that expensive?

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August 03, 2023, 06:26:03 AM
 #258

There are no bitcoin ATM machines because bitcoin is illegal in the country I live in. But if I get a chance to use a Bitcoin ATM machine I will never do it because I think the charges here will be expensive. But it is convenient if we use a bitcoin wallet on mobile or computer as compared to using bitcoin ATM. Transactions from Bitcoin wallets are fast and much easier and convenient than Bitcoin ATMs. So if I ever get a chance to use a Bitcoin ATM I will do it instead I will do the transactions by Bitcoin wallet on my smartphone it is cheaper and convenient all round.

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August 03, 2023, 06:55:16 AM
 #259

There are no bitcoin ATM machines because bitcoin is illegal in the country I live in. But if I get a chance to use a Bitcoin ATM machine I will never do it because I think the charges here will be expensive. But it is convenient if we use a bitcoin wallet on mobile or computer as compared to using bitcoin ATM. Transactions from Bitcoin wallets are fast and much easier and convenient than Bitcoin ATMs. So if I ever get a chance to use a Bitcoin ATM I will do it instead I will do the transactions by Bitcoin wallet on my smartphone it is cheaper and convenient all round.
Well, from your comment, its clear you don't understand the whole concept and use of bitcoin ATMs, first understand that to even use a bitcoin ATM, you need to own a Bitcoin ATM card, there are several crypto companies that issue this cards to qualified users, though its not always for free, for some the companies , you have own and lock and certain amount of their shitcoins to gain access to their bitcoin ATM, for some other companies, you have to buy the card.

After owing a Bitcoin ATM card, you have to fund the card with Bitcoins, and lf you live in a area where there is a functioning bitcoin ATM machine, and for some reasons, you need cash and want to sell some of your bitcoin for the cash, instead of first of all, going through the exchange, selling bitcoin there, maybe through p2p, instead of having to wait for minutes, ,maybe hours in some instances, for your trade partner to send you your cash to your bank account, you could simply go to the bitcoin ATM machine, slot in your bitcoin card, type in how much cash you want to withdraw, then the machine will pay you that cash directly like your bank ATM machines normally do, then the machine will minus or deduct the equivalent amount from your bitcoin balance, based on the exchange rate of bitcoin to your local currency at the time of the transaction.\

I hope this is understandable.

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August 03, 2023, 08:16:02 AM
 #260

Bitcoin ATM will be cool but not necessary because I have my hot wallet for daily transactions, also Where I am from I won't dare go near an ATM because there are always some people waiting to see the set of people that will use such machine, they could think I am well made of money that's why I can use it, I will probably wait till Bitcoin ATM is not even scare anymore and many people are using it, why I describe it this way is because of the illiteracy of my people, which have made them do stupid things that you can only see in the hands of the Barbarians.

Why use Bitcoin ATM anyway? I don't see any reason why, normal address transactions and barcode scanning for payment are enough, for me.

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