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Author Topic: BITCOIN ATM MACHINES  (Read 7839 times)
Anjing Lu
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May 05, 2017, 10:21:00 AM
 #81

This is a good idea, with the presence of ATM bitcoin ensure easy bitcoin users conduct transactions mainly take the money without having to use the services of the exchangers.

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May 05, 2017, 10:25:35 AM
 #82

This is a good idea, with the presence of ATM bitcoin ensure easy bitcoin users conduct transactions mainly take the money without having to use the services of the exchangers.
Recently bitcoin ATM's gained more popularity. This in a short got out of use in most of the places causing a reduction in the number of bitcoin ATM's around the world which is mostly due to the increased withdrawal fee than what's been levied by the exchanges.

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May 05, 2017, 11:03:36 AM
 #83

This is a good idea, with the presence of ATM bitcoin ensure easy bitcoin users conduct transactions mainly take the money without having to use the services of the exchangers.
Yes, i know it sounds it is easy to transact.
But if atm bitcoin there have been many is in all countries therefore should the bank bitcoin in agree on by government.
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May 05, 2017, 11:34:27 AM
 #84

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   
I am waiting for that day to come...!!
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May 05, 2017, 12:27:13 PM
 #85

This is a good idea, with the presence of ATM bitcoin ensure easy bitcoin users conduct transactions mainly take the money without having to use the services of the exchangers.
Yes, i know it sounds it is easy to transact.
But if atm bitcoin there have been many is in all countries therefore should the bank bitcoin in agree on by government.

Bitcoin ATM machines are a good thing and will help bitcoin a lot but the problem is the huge miner fees. In our country the charge per transaction in withdrawing local currency to atm is 7 pesos but the miner fees per transaction for bitcoin is at 60 pesos. Now you see the huge difference the banking charges is much lesser than the miner fees, if only I am not earning bitcoin the huge miner fee will discourage me from using it.
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May 05, 2017, 02:09:35 PM
 #86

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.
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May 05, 2017, 02:24:52 PM
 #87

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.

That's because there are few bitcoin ATM machines, there is not much competition, nor are there many other places where users can exchange their bitcoins for fiat money. As more ATMs are installed and more establishments offer the possibility of exchanging bitcoin for fiat or directly making purchases with bitcoin, then the fees will tend to be smaller.


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May 05, 2017, 06:17:49 PM
 #88

In our country we do not have BTC Atm machine and certainly it will not come because it's not mangef by any institutions here and without any government authority you cannot place such things and it's not even controlled by government this coins . So no question of such machines to be placed.

Me too in my country doesn't have bitcoin ATM Machines. But it not more needed we just need a exchanger that we can exchange our Bitcoin (BTC) to a real money. Well definitely we have a reliable exchange that often us to exchanges our Bitcoin to a real cash and its good. Hopeless that also we have Bitcoin ATM Machines
Why are you hopeless and what drives your moral and motivation down ?

It is still the early age of the bitcoin its recognition and recommendations yet have to be adopted by many of the people. Look at where the bitcoin is standing now it was not there a year before… Why is it like that? These are the thing that keeps me motivated.
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May 05, 2017, 06:38:09 PM
 #89

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.

Same for me , an extra 6% on an "average" rate I don't form where they take it.
Also I have to scan my id to get cash so it's big no  for me.

I'd rather user localbitcoins with cash in person than the atm.

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May 05, 2017, 08:54:47 PM
 #90

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.

That's because there are few bitcoin ATM machines, there is not much competition, nor are there many other places where users can exchange their bitcoins for fiat money. As more ATMs are installed and more establishments offer the possibility of exchanging bitcoin for fiat or directly making purchases with bitcoin, then the fees will tend to be smaller.

There is only one Bitcoin ATM machine available here in our country. It is located in one of the cities in the capital which makes it unreachable for people, like me, in the provinces. We use other other available cards that supports bitcoin transactions which enables us to withdraw bitcoin into our currency and then to paper money.

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May 05, 2017, 09:23:39 PM
 #91

My country today I wasn't able to see any bitcoin atm machines, but there were banks recommended to cash out your bitcoin balances that you needed. A hope for future implementation in my country soon, and I thinks that's much more profitable with the banks and to the people to have bitcoin atm machines provided by bank owners in my country.

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May 05, 2017, 09:37:37 PM
 #92

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   
It is very cool to have an Bitcoin ATM machine in every places of the world. How I imagine if that happen it will surely a very convenient for us to withdraw our bitcoin balance and will dispense according to our currency. Cheesy
This is no doubt , this idea will be get warm welcome but it should be feasible. I am not recommending every place of the world but on the average where the bitcoin is used commonly. Even if you install it at a place where there are less number of people using the BTC can work as a marketing tool for the BTC and people can come to know about it and adopt it.

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May 06, 2017, 03:23:08 AM
 #93

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   
Here in our country we have an web and application wallet that support the ATM machine it's have a cardless ATM cash out so that the cash out here in our country is not that hassle you will just cash out through ATM by just inputting the 16digit code that sent to your email and then you can cash out your money without card just bitcoin only and it is hassle free and no risk at all.

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May 06, 2017, 03:47:59 AM
 #94

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.
Well, people in need of bitcoin or fiat and want to exchange it with the convenient way as you mentioned may not thinking twice because it's kinda emergency situation if there's a way they'll seem to use the another.
Paying Kraken's rate +7% is really expensive indeed, but, it's not a big problem as long as you can get either bitcoin or fiat withing few minutes.

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Faiyz
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May 06, 2017, 03:51:42 AM
 #95

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.

Where is your country? hmm im curios too. if that would be possible then does it have taxes?
i think most of us here just converts to fiat?
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May 06, 2017, 12:52:21 PM
 #96

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.

Where is your country? hmm im curios too. if that would be possible then does it have taxes?
i think most of us here just converts to fiat?

I think that's what he means dude. Bitcoin doesn't have any physical form anyways. Another thing is when banks allow btc withdrawal. It's not exclusively for bitcoins but there are banks who offer cardless withdrawals connected to a btc wallet. Though again it's converted to fiat before you can withdraw

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stompix
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May 06, 2017, 01:37:37 PM
 #97

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.

That's because there are few bitcoin ATM machines, there is not much competition, nor are there many other places where users can exchange their bitcoins for fiat money. As more ATMs are installed and more establishments offer the possibility of exchanging bitcoin for fiat or directly making purchases with bitcoin, then the fees will tend to be smaller.

There is only one Bitcoin ATM machine available here in our country. It is located in one of the cities in the capital which makes it unreachable for people, like me, in the provinces. We use other other available cards that supports bitcoin transactions which enables us to withdraw bitcoin into our currency and then to paper money.

You should make up your mind is it located in one of the cities or it is located in the capital.
Never heard of a country with more cities as a capital , lol.

And what you;re doing is basically having a card with fiat money and you're using both the bank and the visa network.
What's the point of bitcoin then...

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May 06, 2017, 05:15:14 PM
 #98

A better idea is for the machine to display a QR Code, you scan it and send your bitcoins to that address (using your own device), then you get your cash. Putting your private key data on a public machine is kinda dumb. The problem is that an ATM can't afford to wait several minutes for confirmation (though there are solutions).

Exactly!!!

Send coins to the machine from your phone, get USD cash. Doesn't even need to wait for confirmations.
I also like the idea of this bitcoin ATM. Im sure many people will also like the idea of these. It will be less hassle for people goingtodifferent country with different currencies. I think it will be more easy to convert bitcoins to cash. Just gotta have proper machines to handle this to be sure that you bitcoins will be protected.
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May 06, 2017, 07:01:00 PM
 #99

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   
It is very cool to have an Bitcoin ATM machine in every places of the world. How I imagine if that happen it will surely a very convenient for us to withdraw our bitcoin balance and will dispense according to our currency. Cheesy
This is no doubt , this idea will be get warm welcome but it should be feasible. I am not recommending every place of the world but on the average where the bitcoin is used commonly. Even if you install it at a place where there are less number of people using the BTC can work as a marketing tool for the BTC and people can come to know about it and adopt it.
I am not sure what is the good idea about it, I mean it is good for people who don’t know where to get bitcoin and good for promotion but other than that, people who already know and use bitcoin everyday it wants be efficient for them because as you would imagine bitcoin ATM are just like regular ATM they take fees when you want to withdraw from them, and probably even more fees since it requires to exchange it.
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May 06, 2017, 08:29:01 PM
 #100

I think bitcoin ATM was no used, because how can we used it? Digital currency was a numbers only, that appears in our account. However if Bitcoin currency is withdrawable to the ATM it's a big help to us to easily encash our money.
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