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?
Sure some members here have raised issues about personal security - so then location of the BATM might well be important..
and thus, the people walking by is one potential attack vector, yet a more obviously relevant attack vector would be if the BATM takes your identification and then what they might do with that information from there.
If the BATM does not take personal information (or maybe it takes a kind of minimal personal information that might not necessarily be traceable back to you), then if your only concern is that "bad people might be watching," that seems to be a pretty weak concern.. let's say in a mall? the people walking by what are the odds that they give any shits? Sure it is possible, but what are the odds? Maybe it is not a busy mall, and then maybe we consider how often is the BATM being used? Is it actually attracting people who have an incentive to watch? Is the BATM in a poor neighborhood or a middle class neighborhood (relative to the standards of the country)?
In terms of practicality, it seems to me that many people are more worried about either the government and/or the BATM owner taking and/or retaining KYC information rather than the scenario that you describe.. even though surely some people have raised the physical security matter. because whether you are depositing or withdrawing there is going to be both cash involved and BTC.. so that is the reason why they would exist to be able to receive or deposit cash potentially 24/7/365... or whatever hours of the venue... but then if the neighborhood is questionable, then surely you would consider the time of day that you go and maybe even whether you "bring a friend."
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.
smartphone wallet and Bitcoin ATM are providing different services, so even if you are not finding a use for BATM, it does not mean that others might not figure out a need (or a preference) for a BATM... and whether fees are high or not is likely to vary a lot.. perhaps vary based on competition and whether there is competition and/or incentives to attract people to BATMs as contrasted with other ways that they might transact or exchange in bitcoin.
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.
Not all BATMs require a BATM card. If you sell bitcoin, they might issue a paper (and maybe that is not even necessary), and then after the transaction has gone through with the requisite number of transactions then you can claim your cash from the machine. If you deposit cash, then you will not have to wait. You merely have to provide a bitcoin address for the BTC to be sent, and there are a variety of ways to provide a BTC address - and sure maybe there are restrictions in terms of the kinds of BTC addresses that would be acceptable.
Why use Bitcoin ATM anyway? I don't see any reason why, normal address transactions and barcode scanning for payment are enough, for me.
Why use
bolded text for your whole post?
Do you need to make sure that your post is noticed?
I am pretty sure that kind of habit is against the forum rules.. so you might end up getting in trouble for your desire to be noticed in terms of the kind of font that you use.
In regards to your specific question, the fact that you don't see any reason to use a BATM does not mean that others might NOT find a use for a BATM... and surely, if you ever travel, you might even realize more potentials for a BATM.. perhaps? perhaps?
