Are bitcoin ATMs worth using? - page 3.

shinratensei_

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Quote from: awesome31312 on August 30, 2016, 01:52:59 AM

Quote from: shinratensei_ on August 30, 2016, 01:37:34 AM

Quote from: awesome31312 on August 29, 2016, 02:26:26 AM

There was a Bitcoin ATM down the street where I used to live, they used to charge $1,000+ per BTC when the average price was between $490-500

Of course they will charge more. Not worth it unless you want the anonymity.

Damn, I think you're just making jokes with an irrelevant example... please correcting about your post... maybe you're not remembering your full experience about bitcoin atm.

I'm not joking, this was at a Hasty Market outlet in Canada.

But I just understanding your post is charge $1000+ for 1 BTC is withdrawal from the atm? okay but you're giving more detailed information about that but I think that is really like a jokes man, I'm sorry if I'm miss understanding. Huh

BitLinkInvestments

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All a matter of preference at the end of the day my friend! Personally I like ATM's only because I have many very near by my house here in vegas.

nizamcc

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Bitcoin ATMs is surely a great deal if you are to get your funds instantly, but remember, to get better services, you need to pay something higher too.
Costs are much high compared to converting your coins and getting them handy. So, I would recommend you to convert your coins into fiat instead of paying such high fee to vendors, let them cool down.

jostorres

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Quote from: barbara44 on August 30, 2016, 08:05:02 AM

Quote from: erikalui on August 16, 2016, 04:35:16 AM

Exchange websites are better and have reasonable prices but Bitcoin ATMs are too exchange and seriously I don't get why the prices are so high while withdrawing the money in a local currency. There are costs for activating costs as well for the debit cards and then a list of other fees charged. It's seriously not worth.

I have to agree with you. For now just use your exchange of choice and think ahead of time. Bitcoin ATM’s are not everywhere and more importantly the fees are high since not many people use them. But like fiat ATMs, these bitcoin ATMs will serve you in peculiar situations like in a mid-night emergency.

Bitcoin ATMs' advantage right now is that you can withdraw at any given time, even if you don't have any access to internet connection. However, the price for that is you have to pay tremendous fees. If you're okay with that, then it's all fine. Generally, however, it's not preferable to use bitcoin atms because of the high fees.

barbara44

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Quote from: erikalui on August 16, 2016, 04:35:16 AM

Exchange websites are better and have reasonable prices but Bitcoin ATMs are too exchange and seriously I don't get why the prices are so high while withdrawing the money in a local currency. There are costs for activating costs as well for the debit cards and then a list of other fees charged. It's seriously not worth.

I have to agree with you. For now just use your exchange of choice and think ahead of time. Bitcoin ATM’s are not everywhere and more importantly the fees are high since not many people use them. But like fiat ATMs, these bitcoin ATMs will serve you in peculiar situations like in a mid-night emergency.

TastyChillySauce00

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Quote from: hope4ever on August 30, 2016, 05:22:23 AM

in present time as bitcoin is not yet so much introduced in the people and its users are also not so therefore i think itis not too much worth to use bitcoin ATM.

bitcoin will be well known and it's matter about the time,a bitcoin ATM could also help the bitcoin to introduce itself to people who just curious when seeing this ATM,so a bitcoin ATM is actually worth it,and also bitcoin ATM is not about how much people who use it but how the atm could make bitcoin users feel simple when using bitcoin

hope4ever

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in present time as bitcoin is not yet so much introduced in the people and its users are also not so therefore i think itis not too much worth to use bitcoin ATM.

icecube45

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Atm bitcoin is suitable if a region has many bitcoin users and many stores that use bitcoin payments. If in the area I may not be suitable because it is very difficult to find a place to use bitcoin payments. I myself do not know the shape of the atm bitcoin as to what, if in my area there and many are using it possible I will also use it.

Carlsen

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That actually could be the problem with atms: Nobody uses them.
If more people would get their coins from atms, they would most likely have lower rates.
To all those here who have used an atm already, what was the lowest fee you had to pay?

DomesticTrader

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I dont think a atm for bitcoins will work allot because there are not many people with more than 10 bitcoins so i dont think that the atm for bitcoins will be used very much you know so i think you should better make another plan to let them get real coins.

Legasean

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I dont know what you mean with the atm is that where you can take money. If there was such a machine that gives you coins from your card maybe it will work but i dont think that there are allot of people with more than 10 coins.

awesome31312

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Quote from: shinratensei_ on August 30, 2016, 01:37:34 AM

Quote from: awesome31312 on August 29, 2016, 02:26:26 AM

There was a Bitcoin ATM down the street where I used to live, they used to charge $1,000+ per BTC when the average price was between $490-500

Of course they will charge more. Not worth it unless you want the anonymity.

Damn, I think you're just making jokes with an irrelevant example... please correcting about your post... maybe you're not remembering your full experience about bitcoin atm.

I'm not joking, this was at a Hasty Market outlet in Canada.

shinratensei_

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Quote from: awesome31312 on August 29, 2016, 02:26:26 AM

There was a Bitcoin ATM down the street where I used to live, they used to charge $1,000+ per BTC when the average price was between $490-500

Of course they will charge more. Not worth it unless you want the anonymity.

Damn, I think you're just making jokes with an irrelevant example... please correcting about your post... maybe you're not remembering your full experience about bitcoin atm.

awesome31312

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Also, keep in mind that the whole goal of Bitcoin is to be decentralized. It's not decentralized if you give some corporation the power to horde your Bitcoin and then charge insane rates to purchase some. If people stop using them altogether, maybe they will be pressured to reduce their prices.

Divinespark

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ATM's provide a little more privacy (phone no: vs more elaborate KYC processes at exchanges), but also usually charge a heftier premium than the best exchanges (up to 7%). That said, ATM's spot you the coin instantly.

dearbesz1219

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Quote from: puremage111 on July 26, 2016, 02:10:54 AM

Yea agree on most of the statement above, ATM fees might be high and on trading platform, we have variety of platform which offer different rates of withdrawal or deposit, it depends

True, there are some other exchange platform who charge expensively, some are they charge 0.0002 Satoshi, and other's are 0.0005 Satoshi. Now its up on the individuals where they gonna place their bitcoins in the exchange platform.

danherbias07

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Quote from: OROBTC on July 26, 2016, 12:34:45 AM

...

Bitcoin ATMs have two "features" lately that I do not much like:

1) They insist on ID. The first "BTM" I ever used (in NYC years ago) at that time did not... I spent ALL the cash in my wallet to buy BTC...

2) They have gotten VERY EXPENSIVE in my city: 14% !! Forget it.

Since buying from Circle was no worse (from KYC/AML standpoint), I just switched to them because they are cheap.

I have bought via localbitcoins (cash at a Starbucks), that works well if you actually can meetup.

Actually this is not much needrd. It is just the wallet exchange that needs to be linked in a bank and you got like an ATM where they just need to give you a one time account with the price of how much you want to withdraw. Just simply go to the atm machine and input the said account and how much.

Doamader

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Quote from: Ryan Dugan on August 29, 2016, 02:58:31 PM

Quote from: OROBTC on July 26, 2016, 12:34:45 AM

...

Bitcoin ATMs have two "features" lately that I do not much like:

1) They insist on ID. The first "BTM" I ever used (in NYC years ago) at that time did not... I spent ALL the cash in my wallet to buy BTC...

2) They have gotten VERY EXPENSIVE in my city: 14% !! Forget it.

Since buying from Circle was no worse (from KYC/AML standpoint), I just switched to them because they are cheap.

I have bought via localbitcoins (cash at a Starbucks), that works well if you actually can meetup.

It is unfortunate to have the bitcoin ATM making some fee. That is not what bitcoin is about. That is people wanting monopoly. 14% ?? That is too high not even worth it. Just sell online rather to bank transfer it will be better on the returns.

Bitcoin atm is currently a big mistake as bitcoiners do like bitcoin because low fees, and some others features it has. The atm should be implemented when all people do know and use it, not now.

Ryan Dugan

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Quote from: OROBTC on July 26, 2016, 12:34:45 AM

...

Bitcoin ATMs have two "features" lately that I do not much like:

1) They insist on ID. The first "BTM" I ever used (in NYC years ago) at that time did not... I spent ALL the cash in my wallet to buy BTC...

2) They have gotten VERY EXPENSIVE in my city: 14% !! Forget it.

Since buying from Circle was no worse (from KYC/AML standpoint), I just switched to them because they are cheap.

I have bought via localbitcoins (cash at a Starbucks), that works well if you actually can meetup.

It is unfortunate to have the bitcoin ATM making some fee. That is not what bitcoin is about. That is people wanting monopoly. 14% ?? That is too high not even worth it. Just sell online rather to bank transfer it will be better on the returns.

awesome31312

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Quote from: bitcointank on August 29, 2016, 02:28:27 AM

Quote from: awesome31312 on August 29, 2016, 02:26:26 AM

There was a Bitcoin ATM down the street where I used to live, they used to charge $1,000+ per BTC when the average price was between $490-500

Of course they will charge more. Not worth it unless you want the anonymity.

This fee is ridiculously high, I don't think anyone will use it, this is about 100% fee. It doubles the price of that time, it is double fee. I feel atm it is useless due to the fee.

I think the reason this particular ATM was charging so much was because they never bothered to update the prices. That has got to be the reason.

Although I agree, they do cost an awful lot. Even outside of Bitcoin, ATMs are generally known for ripping people off.

I wouldn't say they are "useless" though, I saw many people using the ATM, to my surprise.

Topic: Are bitcoin ATMs worth using? - page 3. (Read 5398 times)