[28-05-2018] General Bytes Intalls en New Bitcoin ATMs Across Prague Metro

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legendary

Activity: 2170

Merit: 1427

Quote from: Samarkand on May 31, 2018, 05:43:48 AM

Is it also possible to sell BTC/LTC/... at the General Bytes ATMs?
I couldn´t find any information on the homepage regarding this.

Or are only cryptocurrency purchases possible using these ATMs?

It depends. General Bytes has a few products that it offers, where per product it differs what you can do with it, but it certainly is possible to buy and sell if you go for the higher end models.

https://www.generalbytes.com/products/

I like how simple and quite affordable they are, but that's not the main problem unfortunately. If you want to have them operate legally, you have to obtain the proper licenses, and this can turn out to be a very expensive and time consuming process. In the US, obtaining such a license can turn out to cost you over $150,000 which is insane, and then you also have to deal with +$100,000 renewal cost after whatever period of time. Operating an ATM is definitely not as easy as some people think.

Samarkand

sr. member

Activity: 658

Merit: 282

Quote from: MrBitco.in on May 28, 2018, 02:32:27 PM

Quote from: bL4nkcode on May 28, 2018, 09:08:37 AM

Tho it might be a good idea if they will integrate some other cryptocurrency instead of bitcoin only (Crypto ATM instead of BItcoin ATM only) Cheesy

.

The ATMs run Bitcoin / Litecoin / Monero and Dash.

https://services.generalbytes.com/ for a map.

Is it also possible to sell BTC/LTC/... at the General Bytes ATMs?
I couldn´t find any information on the homepage regarding this.

Or are only cryptocurrency purchases possible using these ATMs?

veleten

legendary

Activity: 2016

Merit: 1106

Quote from: BitHodler on May 29, 2018, 10:54:47 AM

Quote from: veleten on May 29, 2018, 10:16:00 AM

good news,the more bitcoin ATMs there are around the globe,the more exposure bitcoin will have
and the more adoption there will be,Czech republic is not a big country and the amount of the ATMs they have is impressive
27 ATMs in Prague only! crazy,there are only 5 in total in my country

It is good news, but there are two sides to this. The one aside from the positive side is that these ATMs are very expensive to use, and in some cases very vague just to hide the fact that there is a hefty fee people are subject to.

I get it that there is a business behind them that needs to make profit, but in some cases a fee of $20-$30 gets charged, which is just insane, and then I am not referring to the network fees, but just the operational fee.

If someone for the first time tries to buy Bitcoin through an ATM, the first experience is very important. If that first experience is bad, then that means he will likely not advice any of his friends or family to use it, which isn't good.

People buying Bitcoin for the first time do it with a small amount of money, and if you by surprise find out that you don't have $100 worth of Bitcoin but just $75, then it will definitely sting badly. They have to become transparent.

yes,I see your point,but even if it is a rip-off in some cases (which is not always,some ATMs have decent rates)
but then again,it is a business,so if the owner sees that people are not using the ATM,he will adjust the fees and make it more competetive
in any case,I think the "pros" outweigh the "cons" by far
someone totally new to bitcoin will not be able to buy straight away,you usually need a wallet to do so

so it will be an incentitive to get home,read more about the whole idea,find out some details and this is what makes ATM awesome IMHO

BitHodler

legendary

Activity: 1526

Merit: 1179

Quote from: veleten on May 29, 2018, 10:16:00 AM

good news,the more bitcoin ATMs there are around the globe,the more exposure bitcoin will have
and the more adoption there will be,Czech republic is not a big country and the amount of the ATMs they have is impressive
27 ATMs in Prague only! crazy,there are only 5 in total in my country

It is good news, but there are two sides to this. The one aside from the positive side is that these ATMs are very expensive to use, and in some cases very vague just to hide the fact that there is a hefty fee people are subject to.

I get it that there is a business behind them that needs to make profit, but in some cases a fee of $20-$30 gets charged, which is just insane, and then I am not referring to the network fees, but just the operational fee.

If someone for the first time tries to buy Bitcoin through an ATM, the first experience is very important. If that first experience is bad, then that means he will likely not advice any of his friends or family to use it, which isn't good.

People buying Bitcoin for the first time do it with a small amount of money, and if you by surprise find out that you don't have $100 worth of Bitcoin but just $75, then it will definitely sting badly. They have to become transparent.

veleten

legendary

Activity: 2016

Merit: 1106

good news,the more bitcoin ATMs there are around the globe,the more exposure bitcoin will have
and the more adoption there will be,Czech republic is not a big country and the amount of the ATMs they have is impressive
27 ATMs in Prague only! crazy,there are only 5 in total in my country

MrBitco.in

jr. member

Activity: 38

Merit: 1

Quote from: bL4nkcode on May 28, 2018, 09:08:37 AM

Tho it might be a good idea if they will integrate some other cryptocurrency instead of bitcoin only (Crypto ATM instead of BItcoin ATM only) Cheesy

.

The ATMs run Bitcoin / Litecoin / Monero and Dash.

https://services.generalbytes.com/ for a map.

gabbie2010

sr. member

Activity: 2590

Merit: 322

SOL.BIOKRIPT.COM

Quote from: bitzamp.com on May 28, 2018, 05:38:48 AM

General Bytes, one of the largest Bitcoin ATM manufacturers in the world, has installed ten new Bitcoin ATMs spread out across the Prague Metro. With the ten new machines, the Czech Republic will now have a total of 46 Cryptocurrency ATMs and 27 of those devices are located in Prague. A large majority of the

Read More: https://news.bitzamp.com/general-bytes-has-installed-ten-new-bitcoin-atms-across-prague-metro-in-europe/

Kudos to Czech republic for being friendly to the use of bitcoin thus reaffirmed the country commitment towards adopting and accepting bitcoin as a digital currency by the provision of more bitcoin ATM machines I hope other European countries follow suit so as to promote btc all over the world.

InvoKing

legendary

Activity: 2142

Merit: 1065

✋(▀Ĺ̯ ▀-͠ )

First, you need to fix the title OP "en"--> "ten".
10 new ATMs is quite serious and imo it reflects how many users using Bitcoin via these machines.

bL4nkcode

copper member

Activity: 2142

Merit: 1305

Limited in number. Limitless in potential.

That's a bit good news and will prove that bitcoin is highly accepted and used in this place/country especially in europe area.

Tho it might be a good idea if they will integrate some other cryptocurrency instead of bitcoin only (Crypto ATM instead of BItcoin ATM only) Cheesy

.

bitzamp.com

jr. member

Activity: 140

Merit: 1

General Bytes, one of the largest Bitcoin ATM manufacturers in the world, has installed ten new Bitcoin ATMs spread out across the Prague Metro. With the ten new machines, the Czech Republic will now have a total of 46 Cryptocurrency ATMs and 27 of those devices are located in Prague. A large majority of the

Read More: https://news.bitzamp.com/general-bytes-has-installed-ten-new-bitcoin-atms-across-prague-metro-in-europe/

Topic: [28-05-2018] General Bytes Intalls en New Bitcoin ATMs Across Prague Metro (Read 137 times)