ATMs to withdraw bitcoins directly form bank account

[roosmaa]

Whenever I hear the the term Bitcoin ATM, first thing that comes to mind is a regular ATM where I can select to withdraw my money in bitcoins instead of cash. However, as far as I know none of the bitcoin ATM's do that. Instead they deal exclusively with bitcoin-cash conversion.

I'm curious - do ATMs where you can withdraw bitcoins from your bank account exist anywhere in the world? If not what could be the reason why they don't exist?

[Meuh6879]

All ATM bitcoin change ... money (cash) to bitcoin.
Somes ATM bitcoin change bitcoin in money (cash).

[countryfree]

I'm curious - do ATMs where you can withdraw bitcoins from your bank account exist anywhere in the world? If not what could be the reason why they don't exist?

Such an ATM would have to be your bank's ATM. Does your bank handle BTC transactions? Do you know a bank which does?

[roosmaa]

Such an ATM would have to be your bank's ATM. Does your bank handle BTC transactions? Do you know a bank which does?

Depends on the country. In some countries the ATMs aren't operated directly by specific banks (ie in UK you have the LINK network) in such places it could be just a simple software upgrade. (provided it's not stepping on some regulation toes. would it?)

[hua_hui]

BTCPoint Creates 10,000 Bitcoin-Enabled ATMs Using Spanish Bank Network. They are focusing on changing bitcoin into cash! http://www.coindesk.com/btcpoint-spanish-bank-network-bitcoin-atms/

[Beyonce]

Whenever I hear the the term Bitcoin ATM, first thing that comes to mind is a regular ATM where I can select to withdraw my money in bitcoins instead of cash. However, as far as I know none of the bitcoin ATM's do that. Instead they deal exclusively with bitcoin-cash conversion.

I'm curious - do ATMs where you can withdraw bitcoins from your bank account exist anywhere in the world? If not what could be the reason why they don't exist?

Probably not but I'm sure the feature could easily be implemented. You can do all sorts of stuff from atms these days like top up your phone so I see no reason why you couldn't be able to buy coins or withdraw them to your phone or something (maybe via a qr code or something).

[futureofbitcoin]

What does this even mean? That a bank exchanges your fiat currency into bitcoins for you, through an ATM?

[roosmaa]

What does this even mean? That a bank exchanges your fiat currency into bitcoins for you, through an ATM?

ATM exchanges digital money to physical cash (whatever currency) anyway. So why hasn't anyone actually implemented the software patch to let users choose bitcoins instead of cash?

[futureofbitcoin]

What does this even mean? That a bank exchanges your fiat currency into bitcoins for you, through an ATM?

ATM exchanges digital money to physical cash (whatever currency) anyway. So why hasn't anyone actually implemented the software patch to let users choose bitcoins instead of cash?

Generally ATMs change digital USD to physical USD, digital RMB to physical RMB, digital CAD to physical CAD... you get my point.

Besides, most banks don't even support bitcoins. Bitcoin ATM makers are purely in the bitcoin business, I doubt they have a strong relationship with banks.

[Slaxt]

What does this even mean? That a bank exchanges your fiat currency into bitcoins for you, through an ATM?

ATM exchanges digital money to physical cash (whatever currency) anyway. So why hasn't anyone actually implemented the software patch to let users choose bitcoins instead of cash?

Generally ATMs change digital USD to physical USD, digital RMB to physical RMB, digital CAD to physical CAD... you get my point.

Besides, most banks don't even support bitcoins. Bitcoin ATM makers are purely in the bitcoin business, I doubt they have a strong relationship with banks.

If you look above they are now starting to form that relationship with banks btcpoint already has 10,000 bank atm's and they are in talks for banks in other country's so it will not be long before it around the world and not just spain, but at least spain are leading the way and it is a big step in the right direction I am still yet to see a atm i can buy btc from i am going to look up locations after this post would rather buy (if right price) than sell.

[yui]

Yes, I also noticed that ATM at my bank doesn't let me get BTC.

[Somekindabitcoin]

If the ATM's ever spit out paper wallets, they'd probably charge insane fees on them.

[Amph]

could be because of security or legal reason, it's always about that when you can't find those type of answer

but yeah for now they just do a rate conversion and give you cash

[Possum577]

This won't happen until your "regular" bank starts dealing in Bitcoin. The ATMs are owned/operated by banks. Give it some time and you might see some duality of currency BUT ATMs currently don't offer Pounds and Euros or Yen and Dollars so perhaps the Bitcoin and Dollars equivalent will never exist.

[leopard2]

BTCPoint Creates 10,000 Bitcoin-Enabled ATMs Using Spanish Bank Network. They are focusing on changing bitcoin into cash! http://www.coindesk.com/btcpoint-spanish-bank-network-bitcoin-atms/

That's not helpful, it needs to be the other way round

Account to BTC

then we will see $1000+ bitcoins .... just from Greek fugitive funds alone 

[Omikifuse]

Whenever I hear the the term Bitcoin ATM, first thing that comes to mind is a regular ATM where I can select to withdraw my money in bitcoins instead of cash. However, as far as I know none of the bitcoin ATM's do that. Instead they deal exclusively with bitcoin-cash conversion.

I'm curious - do ATMs where you can withdraw bitcoins from your bank account exist anywhere in the world? If not what could be the reason why they don't exist?

is there any bank that deals directly with BTC so ask for a bank account - BTC would make any sense

strange question

[calme]

If those banks insist on only using one currency, just have them switch over to BTC