Because of the fees, it's a turn off for me. I wouldn't use them.
If you need them ASAP, localbitcoin seems legit.
Topic: Are bitcoin ATMs worth using? - page 7. (Read 5398 times)
I prefer localbitcoins and Bitpay. ATMs must pay rent.
If you don't mind paying for an insane amount of fee and you are in a hurry to obtain cash, then bitcoin ATM is for you. Personally I would prefer exchanges on the internet rather than a bitcoin ATM just to save a couple of dollars. Though bitcoin ATMs do not ask for any verification, your main concern would probably be the fees incurred during the transaction.
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!
Well depending on what you are using it for, if you want to change cash and coin discreetly and do not want your name anywhere, it is a lot better then sending fiat from your bank to bitcoin exchange websites. You can just withdraw your cash and buy coins. 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!
Tough if it is your method of acquiring bitcoin it is still the most discreet and private possibility but most have higher fees then regular bitcoin exchange websites.
No, it's not worth at all because those reason :
1. They charge you huge fees for buy/sell bitcoin
2. They could track you because bitcoin address that you use for send/receive bitcoin and they usually have CCTV too.
3. Sometimes, they ask you to input personal information or ID to use their ATM.
4. I heard that bitcoin price at ATM isn't realtime (not sure it's true or not)
ONLY use bitcoin ATM if you really need to buy/sell bitcoin as fast as you can.
1. They charge you huge fees for buy/sell bitcoin
2. They could track you because bitcoin address that you use for send/receive bitcoin and they usually have CCTV too.
3. Sometimes, they ask you to input personal information or ID to use their ATM.
4. I heard that bitcoin price at ATM isn't realtime (not sure it's true or not)
ONLY use bitcoin ATM if you really need to buy/sell bitcoin as fast as you can.
I have been to two. One in vegas area and it had ridiculous fees and definitely not worth it with things like bitpay now out. Maybe like
2 years ago so you can get money even with bad fees. The second one was south of san francisco and it had a pretty big spread in fees
also and required a ton of info (ID etc) and took like 45 minutes so i didnt bother
No, it's not worth at all because those reason :
1. They charge you huge fees for buy/sell bitcoin
2. They could track you because bitcoin address that you use for send/receive bitcoin and they usually have CCTV too.
3. Sometimes, they ask you to input personal information or ID to use their ATM.
4. I heard that bitcoin price at ATM isn't realtime (not sure it's true or not)
ONLY use bitcoin ATM if you really need to buy/sell bitcoin as fast as you can.
1. They charge you huge fees for buy/sell bitcoin
2. They could track you because bitcoin address that you use for send/receive bitcoin and they usually have CCTV too.
3. Sometimes, they ask you to input personal information or ID to use their ATM.
4. I heard that bitcoin price at ATM isn't realtime (not sure it's true or not)
ONLY use bitcoin ATM if you really need to buy/sell bitcoin as fast as you can.
I have never seen a bitcoin ATM but. If I did I would not trust the company that runs it and the ATM its self.
It's a good place to start if you need bitcoins. It's instant and you do not need to sign up meaning that it is more anonymous than a bitcoin exchange or using something like localbitcoins where you have to upload your ID before you get bitcoins.
The have charge very high fees and are generally not worth it. They also need you to give them a bunch of information like finger print and ID.
Try buying Bitcoins at a place like Btc-e where they don't need any government documents nor do they report you to the government.
Try buying Bitcoins at a place like Btc-e where they don't need any government documents nor do they report you to the government.
i think in present time it may not be so much usable as most of the people have no idea about bitcoin . but in future it will be so much important and will have so much value when all the people will be using bitcoin then they will fee the need of ATM for withdrawal of bitcoin from their accounts.
You forget that we are moving away from physical cash. Bitcoin is fully digital, why does everybody want to return to physical access to their coins again? With bitcoin you don't need an atm anymore! You load your phone with coins and you scan the QR code in the shop.
Bitcoin ATMs are good for getting the word about bitcoin out in the world, but as far as i'm concerned, that's their only real use especially considering the insane fees.
i think in present time it may not be so much usable as most of the people have no idea about bitcoin . but in future it will be so much important and will have so much value when all the people will be using bitcoin then they will fee the need of ATM for withdrawal of bitcoin from their accounts.
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!
Used an atm bitcoin more practical , i suggest use an agreement before using atm bitcoin payments 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!
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!
When you have an ATM right around your corner it is a nice to have.Especially when you have no bank account or your bank is making trouble when you transfer some of your funds to an Bitcoin exchange.
But the fees these machines have are very often not less than 8-12%.That's theft is you ask me!!
Using an online exchange instead will be much cheaper.Just make sure your bank will not put you into trouble by freezing the transaction or closing your account for a while.
I would not use a bitcoin atm if you can help it. There are two in my city. The one I have seen/tried to use is owned by a private individual. I know because when I called the service number on the screen it was a guy who said he owned it. Anyway, it wasn't functioning correctly and I was glad I wasn't able to use it because there was an extra 10% fee on top of a crappy exchange rate (I don't remember what it was exactly since it was over a year ago). The guy offered to drive over and do a transaction in person, but I declined, saying I didn't have time to wait around.
I have used an ATM a while ago and the fee was at 10% which is not the greatest, it is extremely quick and easy though, well the one I used was, I was in and out of the shop within minutes which surprised me as I thought it would be a lengthy process.
Circle, Coinbase, Localbitcoins or bitylicious would probably be better options, but if you do have an ATM in your area it would be worth just getting a small bit just to have done it
Circle, Coinbase, Localbitcoins or bitylicious would probably be better options, but if you do have an ATM in your area it would be worth just getting a small bit just to have done it
I would rather buy Bitcoins in the currency exchange section or any local currency exchange site than travel all the way to place with Bitcoin ATM and whats worse is after travelling hours on the road, spending some money for gasoline, you'll find out that Bitcoin ATM is offline.
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
I would avoid the ATMs. The fees are incredibly high.. There are online services that offer the same ease of use, but at lower fees (e.g. bitonic in the Netherlands). You pay a bit higher fees then on exchanges, but you don't have to wire fiat, wait for it to arrive and then put an order. You just buy and get your coins instant.
Another thing that would have me worried is shady people hanging around the ATM and potentially stealing your new bitcoins or following you home knowing you are into bitcoin and hoping to score a bigger stash at your house.
Another thing that would have me worried is shady people hanging around the ATM and potentially stealing your new bitcoins or following you home knowing you are into bitcoin and hoping to score a bigger stash at your house.
From what I've seen so far it'd be more reliable to purchase your BitCoins via an ATM as opposed to trying to cut a deal online with someone you probably have never met.
At least if its from an ATM and anything goes wrong you have the shop owner to talk to who can give you the ATM owner's number and you can go from there. I can't say I've heard of any problems with BitCoin ATM's - have a try with a small amount (or their minimum if they have one) and then work out how quickly the transaction is sent via the block chain etc.
I'll be keen to hear how you go.
At least if its from an ATM and anything goes wrong you have the shop owner to talk to who can give you the ATM owner's number and you can go from there. I can't say I've heard of any problems with BitCoin ATM's - have a try with a small amount (or their minimum if they have one) and then work out how quickly the transaction is sent via the block chain etc.
I'll be keen to hear how you go.
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i think the advantages is you don't have to keep your money on your wallet but you just have keep your bitcoin in your bitcoin ATM card. and for the disadvantages is not all country will be available for this bitcoin ATM only a few that i know and this is only small part in over all country. but if in your country is much bitcoin ATM available, then you can try to use bitcoin ATM card and you can tell us how its feel. i'd prefer to keep ATM card rather than keep my money on my wallet because the risk to get stolen is always watching us.
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