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Author Topic: Does Bitcoin really need an ATM?  (Read 6249 times)
Takuul
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June 15, 2017, 06:42:21 AM
 #121

it might not have been as critical as it is now in 2012, but in 2016, ATM's are one of the best methods to buy BTC's and would be amazing if accepted to "buy" as well.
Exchanges all require identification "and heavy" documentation, P2P are risky now, with fraud in all methods but direct cash, which is risky in another way.
Personally I see bitcoin ATMs as a successful idea.
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June 15, 2017, 08:05:05 AM
 #122

In my oppinion, yes, instead of paying fees for EVERY SINGLE MICRO TRANSACTIONS, you can pay only one-time fee for a Bitcoin ATM so that you can use that cash to pay for real things in real life
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June 15, 2017, 08:11:25 AM
 #123

In my oppinion, yes, instead of paying fees for EVERY SINGLE MICRO TRANSACTIONS, you can pay only one-time fee for a Bitcoin ATM so that you can use that cash to pay for real things in real life
You're right, never do I do such a stupid actions like paying fees for every transaction in my life, using an ATM is much more convenient for me
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June 15, 2017, 08:18:38 AM
 #124

In my opinion do not need an ATM, the cost to buy a machine and ATM care is very expensive, who will pay it? Even if it exists only in some special places, it is unlikely that bitcoin ATMs exist in every village, so bitcoin ATMs should not be a top priority
The local bitcoin company will provide it (all the costs for the machine itself and the maintenance) and as an exchange, they'll take a pretty high fee for a transaction as already occurred to all people that they're complaining about how high the transactions fee were using ATMs.
Though, sometimes people are misunderstanding about the function of bitcoin ATM and Bitcoin vending machine, they can't even see the differences before getting explained.

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June 15, 2017, 08:25:03 AM
 #125

So Far Bitcoin for me is very useful since i can use it payment as option for my online business .Does Bitcoin really need an ATM? Yes ! changing on price of bitcoin from time to time is one of the uniqueness . Atm machine for bitcoin has disadvantage and advantage .
You can easily withdraw your money once  high value . unlike today you have to covert always fee is higher sometimes i don't notice.

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June 15, 2017, 08:28:40 AM
 #126

Well seeing this post to be way back 2012, I think the circumstances have change. ATMs are not really needed but they can be an option for people who does not have direct access of buying and selling Bitcoin. The downside of using this ATMs are they have a high exchange rate in which you certainly will not have the value for your money in both sides.

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June 15, 2017, 08:59:53 AM
 #127

✨I appreciate the fact that you actually read my reply and your responses are clear & thoughtful✨ Now, I have to tell you that on any given day, I will be seen at the bitcoin atm despite my long-winded answer, above.  I HATE the fee, but I love the convenience.  It is an evolving perspective and soon I hope to offer a mobile solution in Vegas at least, as soon as my kiosks are funded fully !! 

Exactly. Bitcoin ATMs also provide instant withdrawals, which are quite convenient. Exchanges, on the other hand, usually take a couple of days (if not more) to process withdrawals.

Looking forward to knowing more about your solution.

In my opinion do not need an ATM, the cost to buy a machine and ATM care is very expensive, who will pay it? Even if it exists only in some special places, it is unlikely that bitcoin ATMs exist in every village, so bitcoin ATMs should not be a top priority

The cost of buying and maintaining the BTM is not a concern for the consumer. It's the responsibility of the Bitcoin company/ATM operator that installs the ATM. (That is what they charge the fee for).
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June 15, 2017, 09:12:08 AM
 #128

Bitcoin doesn't really need an ATM. The fact that people have been using it for some reasons and they can check or update it in their own way. Good thing is that Bitcoin is getting more popular in some countries yet it's still private. I,myself say that it really helps a lot when it comes to transacting money discretely wherein you don't need to bring atm with but only using your phone is really convenient for your transaction so it doesn't need an ATM.
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June 15, 2017, 09:20:35 AM
 #129

ATM's aren't necessary but are for a small group of people, it is not a fundamental part of bitcoin at all, exchanging through exchanges and through ATM's almost have the same interest and cost..
The ATM might be good to people with less regular traders using bitcoins and exchanging them, since they do not need people to exchange with but automatically.
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June 17, 2017, 02:54:04 PM
 #130

In my oppinion, yes, instead of paying fees for EVERY SINGLE MICRO TRANSACTIONS, you can pay only one-time fee for a Bitcoin ATM so that you can use that cash to pay for real things in real life

Oh wait.
You're idea is to....stop using bitcoin and start using fiat?
Really?
Why are you still here then. Go to lukejrtalk or fiat talk.


✨I appreciate the fact that you actually read my reply and your responses are clear & thoughtful✨ Now, I have to tell you that on any given day, I will be seen at the bitcoin atm despite my long-winded answer, above.  I HATE the fee, but I love the convenience.  It is an evolving perspective and soon I hope to offer a mobile solution in Vegas at least, as soon as my kiosks are funded fully !! 

Exactly. Bitcoin ATMs also provide instant withdrawals, which are quite convenient. Exchanges, on the other hand, usually take a couple of days (if not more) to process withdrawals.

Looking forward to knowing more about your solution.

Change you exchanger.
I've never used one that takes ore than 24 hours for the cash to enter my account.
I'm going to to name it but one of the major ones is paying even faster than that during weekdays if you work with some banks.

And I'm not going to pay a 15% fee to a damn vending machine.

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June 17, 2017, 02:59:03 PM
 #131

bitcoin ATM is one of the best methods to get Bitcoins if you think about it, the fees of %5 which is mostly used in Exchanges and this is not worse than the exchange methods and the like of cost of exchanges.
ATM is open as well, and you don't need to identify yourself with KYC which is very relaxing if you think about it.
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June 17, 2017, 03:05:44 PM
 #132

Change you exchanger.
I've never used one that takes ore than 24 hours for the cash to enter my account.
I'm going to to name it but one of the major ones is paying even faster than that during weekdays if you work with some banks.

And I'm not going to pay a 15% fee to a damn vending machine.

I'm based in India, and there is a delay in payment here these days, due to the increase in demand.
I agree, the fees that Bitcoin ATMs charge are ridiculous.. It needs to drop down to 1-2%.
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June 18, 2017, 02:42:12 PM
 #133

Change you exchanger.
I've never used one that takes ore than 24 hours for the cash to enter my account.
I'm going to to name it but one of the major ones is paying even faster than that during weekdays if you work with some banks.

And I'm not going to pay a 15% fee to a damn vending machine.

I'm based in India, and there is a delay in payment here these days, due to the increase in demand.
I agree, the fees that Bitcoin ATMs charge are ridiculous.. It needs to drop down to 1-2%.

Well, I stick to my opinion , change it.
Cause if there is an increase in btc demand it means the exchange is flooded with fiat so they should be paying easily.
Also I tend to stay away from exchanges that claim delays are because of volume.
It's the first sign you;re dealing with amateurs and your funds are at risk.



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June 18, 2017, 02:53:10 PM
 #134

it is never a bad thing to have more exchange methods, I've been using Bitstamp (Europe based) and everything is working fine with them BUT I would not mind buying from an ATM if one is located close to me because it is instant unlike bank deposits taking a little while, the fees reported in this forum (%5) are not excessive compared to SEPA + Exchange fees.
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June 19, 2017, 09:40:35 AM
 #135

In my opinion do not need an ATM, the cost to buy a machine and ATM care is very expensive, who will pay it? Even if it exists only in some special places, it is unlikely that bitcoin ATMs exist in every village, so bitcoin ATMs should not be a top priority
In whole thread i found your point is valid . Who will take care about ATM machine expenses ??. Here is my suggestion there is lots of exchange wallet in each country they can maintain machine if they are having proper plan and then they can charge small amount for transaction.
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June 19, 2017, 09:56:05 AM
 #136

Well, I stick to my opinion , change it.
Cause if there is an increase in btc demand it means the exchange is flooded with fiat so they should be paying easily.
Also I tend to stay away from exchanges that claim delays are because of volume.
It's the first sign you;re dealing with amateurs and your funds are at risk.

I agree, the exchange is flooded with fiat, but that is not what the problem is.
The problem is that they aren't able to keep-up with the rising demand.

This is something that they are working on improving.

In whole thread i found your point is valid . Who will take care about ATM machine expenses ??. Here is my suggestion there is lots of exchange wallet in each country they can maintain machine if they are having proper plan and then they can charge small amount for transaction.

Cost of maintaining and purchasing the ATM machine is not a responsibility of the consumers.

In my opinion do not need an ATM, the cost to buy a machine and ATM care is very expensive, who will pay it? Even if it exists only in some special places, it is unlikely that bitcoin ATMs exist in every village, so bitcoin ATMs should not be a top priority

The cost of buying and maintaining the BTM is not a concern for the consumer. It's the responsibility of the Bitcoin company/ATM operator that installs the ATM. (That is what they charge the fee for).
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June 19, 2017, 05:16:49 PM
 #137

it is never a bad thing to have more exchange methods, I've been using Bitstamp (Europe based) and everything is working fine with them BUT I would not mind buying from an ATM if one is located close to me because it is instant unlike bank deposits taking a little while, the fees reported in this forum (%5) are not excessive compared to SEPA + Exchange fees.

First the atms fees do not go below 7%.
Secondary SEPA fees? Are we seriously talking about that?

The actual withdraw from bitswamp costs you exactly 0.90 cents according to thier own fees table.
https://www.bitstamp.net/fee_schedule/

Sorry but only gas you're spending driving 4 or 5 km will cost you more than that.


In my opinion do not need an ATM, the cost to buy a machine and ATM care is very expensive, who will pay it? Even if it exists only in some special places, it is unlikely that bitcoin ATMs exist in every village, so bitcoin ATMs should not be a top priority
In whole thread i found your point is valid . Who will take care about ATM machine expenses ??. Here is my suggestion there is lots of exchange wallet in each country they can maintain machine if they are having proper plan and then they can charge small amount for transaction.

The fee for installing ATMs in countries is not a problem, the duration of bitcoin transactions is too long; it's a problem for an ATM, it needs speed in seconds, but bitcoin can not do that.

There are a lot of costs.
Here in my average wealthy town it will cost you around 200 euros a month to have an atm inside a shopping mall , another 50 for the connections , then you will have to pay an insurance (mandatory) then you will have to pay the service for taking out and trasnporting the cash deposited so in the end it will cost you quite a lot.
That's why the fees are so big.

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June 20, 2017, 05:07:04 PM
 #138

Yes, Bitcoin does need to have ATM machine around the whole world in order to grows into a much bigger users base. It is essential to attract people that doesn't know anything about bitcoin to take a look on how bitcoin actually works, I see it as a marketing strategy to make bitcoin into being more recognize by the world. And it also provides users with an alternative way to purchase bitcoin without the risk of getting scam by scammers.

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June 20, 2017, 05:32:51 PM
 #139

obviously Bitcoin need an ATM.people can transaction flexible if every where have ATM.you can see fiat currency have ATM everywhere and people can used ATM for cash out anytime.if every where have bitcoin ATM use of bitcoin will be more popular.people can easily cash out spend for his daily expenses.
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June 20, 2017, 06:17:02 PM
 #140

Bitcoin does not literally needs an ATM. However, having an ATM for Bitcoin would give convenience for its users. Just like banks across the world, do they need an ATM? No. ATMs are just made for convenience of the users and not to cope with their needs. That alone shall answer your concern, simple and without any complexities.
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