Topic: Are bitcoin ATMs worth using? - page 5. (Read 5398 times)
I think bitcoin ATM is very useful if you can find it in your region, but if for online transaction its better to use internet, because it has the track and the prove of the transaction and in internet you have a better security
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.
Because that is through a lot of processes and that is can make the fees is become very high, I ever trying using bitcoin debit card maybe i can say is not having a much difference with using bitcoin atm and that is very not worthed in their fees. 
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.
In my opinion for today is not, because there are not many people who know it and there are not many people use use it as payment method then there are not many stores who accept bitcoin.
Obtaining Bitcoins from Bitcoin ATM can be much less time consuming than using an online exchange. Bitcoin exchanges usually require AML/KYC verification and after that, the wire/bank transfer can take a day or two. Depending on your jurisdiction, some ATM operators can choose to not turn on the verification and the users can protect their privacy even more.
Bitcoin exchanges are arguably, cheaper and convenient. If you want to exchange fiat to Bitcoin frequently or in large amounts, online exchanges usually provide their user with a much lower fees and a higher liquidity.
Bitcoin exchanges are arguably, cheaper and convenient. If you want to exchange fiat to Bitcoin frequently or in large amounts, online exchanges usually provide their user with a much lower fees and a higher liquidity.
The high fees are certainly because of the low number of people using it, I think the fees will be lower over time.
Contacted a BTM before going to use it to make sure I could just create a paper wallet and not be forced to use my cell phone. I finally get to the location and may I say it was in a super sketchy spot with cops rolling down the block every 30 seconds. Anyways...Step to the dang machine and the very first prompt after English or French was "Please type in your cell number"!
What good is support if they are going to lie to me about their services?
Ended up having to tack a 45 minute trip on to the trip to visit another companies machine.
What good is support if they are going to lie to me about their services?
Ended up having to tack a 45 minute trip on to the trip to visit another companies machine.
The answer is simple "NO". It is because of the high withdrawal fees. Instead of paying so much fees, it is better to withdraw all your money through an exchanger in one go and use it for shopping.
Also I think bitcoin ATM is not a financially viable business. The installation and maintenance of an ATM is huge and to recover the expense, the ATM owner will have to take it from the users. So it is always better to use exchanger service to withdraw bitcoin.
Also I think bitcoin ATM is not a financially viable business. The installation and maintenance of an ATM is huge and to recover the expense, the ATM owner will have to take it from the users. So it is always better to use exchanger service to withdraw bitcoin.
Some friends and I are considering using a bitcoin ATM to do some online shopping. Would it be worth using a bitcoin ATM rather than just an internet exchange site?
What are some advantages and disadvantages to both? Any tips or anything I should know ahead of time before using an ATM?
Thanks in advance!
What are some advantages and disadvantages to both? Any tips or anything I should know ahead of time before using an ATM?
Thanks in advance!
It`s not worth it man.Bitcoin ATMs are extremely rare and i don`t think there are any merchants who accept
bitcoin as paper money.Bitcoin is invented as a virtual currency and should be used as a virtual currency.
It`s more convenient.
https://coinatmradar.com/
I like the idea of having a bitcoin ATM. Hopefully we can also have it here in Pakistan. It would be much better than a third party site to do the exchange I believe. More secure, less vulnerable and handy to have access all the time.
i see no point in it, it also cost money and require some id, which is against what bitcoin is
Well this is maybe the reason why bitcoin atm is not that popular
It just conflict the idea of bitcoin as being anonymous which is really not 100% and can be traceable with the use of the third party people. Just like what happen to someone who is known customer of coinbase LOL. Many of the naysayers here and the ANON Limites are very COUNTRY specific. Be aware. Jurisdiction IS important in this discussion.
UK is very relaxed, other places not so much.
Our ATM's (and those of our competitor) do VERY well thanks proving that ATM's ARE a greta idea when done right AND they're in the right place. And out users love them.
of course worth, you can pull out the money from your bitcoin wallet without having to do an exchange like you usually do to sell bitcoin into fiat money.
I like the idea of having a bitcoin ATM. Hopefully we can also have it here in Pakistan. It would be much better than a third party site to do the exchange I believe. More secure, less vulnerable and handy to have access all the time.
i see no point in it, it also cost money and require some id, which is against what bitcoin is
Well this is maybe the reason why bitcoin atm is not that popular
It just conflict the idea of bitcoin as being anonymous which is really not 100% and can be traceable with the use of the third party people. Just like what happen to someone who is known customer of coinbase LOL. ATMs sound like something of a lottery. You never know what you're going to be charged, how much ID they want or whether they're actually there any more. If there was a good one near me I'd make use of it but some of the premiums you here about would make me squeal.
Do you live somewhere where you have an over the counter type of thing? In the UK there've been a few attempts to offer Bitcoin via the same places you can pay your electricity bills or pick up mobile phone credit. They did all seem to fade away though.
Do you live somewhere where you have an over the counter type of thing? In the UK there've been a few attempts to offer Bitcoin via the same places you can pay your electricity bills or pick up mobile phone credit. They did all seem to fade away though.
CoinATMRadar.com is your friend, theyusually have the rates of the ATM in your area if there is one.
Some friends and I are considering using a bitcoin ATM to do some online shopping. Would it be worth using a bitcoin ATM rather than just an internet exchange site?
What are some advantages and disadvantages to both? Any tips or anything I should know ahead of time before using an ATM?
Thanks in advance!
What are some advantages and disadvantages to both? Any tips or anything I should know ahead of time before using an ATM?
Thanks in advance!
A couple of things...
What country are you in? It's a useful detail
In the UK, ATM operation is far more relaxed and an easier business to run than in somewhere such as the USA.
As an ATM operator we find that many of our customers love using them for ease, simplicity and anonymity.
Also, a number of our customers are not as tech savvy as say the forum users here that decry using one. Remember, not everyone is as competent as you (*looks around the forum.....)
Some people see/hear of BTC and rather than "risk" (in the their eyes) the wild west frontier of Exchanges (which get a bad rap due to things like Gox and Finex) they see ATM's as a Safe option in their world.
So, yes, ATM's definitely have their place in the world of BTC and they're growing in number for a reason, people WANT to use them, simple.
Fee's can be high with some yes so it pay's to shop around, but then convenience comes at a cost in most markets and in this Bitcoin ATM's are no different.
Hope that helps.
Viz
ATMs sound like something of a lottery. You never know what you're going to be charged, how much ID they want or whether they're actually there any more. If there was a good one near me I'd make use of it but some of the premiums you here about would make me squeal.
Do you live somewhere where you have an over the counter type of thing? In the UK there've been a few attempts to offer Bitcoin via the same places you can pay your electricity bills or pick up mobile phone credit. They did all seem to fade away though.
Do you live somewhere where you have an over the counter type of thing? In the UK there've been a few attempts to offer Bitcoin via the same places you can pay your electricity bills or pick up mobile phone credit. They did all seem to fade away though.
Some friends and I are considering using a bitcoin ATM to do some online shopping. Would it be worth using a bitcoin ATM rather than just an internet exchange site?
What are some advantages and disadvantages to both? Any tips or anything I should know ahead of time before using an ATM?
Thanks in advance!
for me it's better to use exchange website why because the advantage of using exchange website is where you can sell your bitcoin and then your gonna deposit it in your bank because here in philippines where we use coins.ph , and coins.ph is partner with some banks where we can use that for our withdrawal security bank is one of the best for atm and also here in philippines we have already bitcoin atm machine it called atm panda where you can withdraw your bitcoin into real cash What are some advantages and disadvantages to both? Any tips or anything I should know ahead of time before using an ATM?
Thanks in advance!
Well I would have said you use the ATM btc, cause its save and convenient.. Than internet..ATM btc will be an easy one...
The best and most convenient option s to get Bitcoin debit card and use it whenever you want to buy something. That is if you only want to cash out BTC to Fiat.
I think that if people that want to buy bitcoin have no other way to obtain bitcoin then ATM is the last opportunity to purchase bitcoins, but if people have other ways to purchase bitcoins then I would not use ATM because their fees are high and your privacy is not anonymous anymore.
Honestly, I haven't seen an actual bitcoin ATM and the most I've seen are over the net. From where I come from, I don't think this is really worth it because not a lot of people know anything about bitcoin, much less a bitcoin ATM. We have mobile phones that are easier and more accessible to use.
As well as here, to my knowledge there is no atm bitcoin in this country. Because bitcoin users here can still be said to be not much, and if there atm bitcoin I think very few people use it. But besides that, even if I needed money suddenly live contact exchanger which I believe and redeem my bitcoin became fiat. That way I can take the money in the ATM fiat, and I think this is fast. Hehe
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