Are people still using bitcoin ATMs? - page 2.

SquirrelJulietGarden

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Quote from: AnnaBayd on March 07, 2024, 11:43:10 AM

I've been long fascinated with bitcoin ATM machines and love to spot them wherever I go traveling but haven't seen one for a long time in New York – are there any of them left in the city at all?

You can find ATM with https://coinatmradar.com/bitcoin-atm-near-me/ and enter New York to search.

Quote

I keep hearing anecdotal stories of people using them but wonder if they are still considered a good way to buy bitcoin, given the steep fees these machines often charge.

There are risk when using Bitcoin ATMs like their very expensive fees.

Bitcoin ATM Deposit Exchange Rate shocks

You have alternatives
https://bitcoinwide.com/
https://spendabit.co/
https://btcmap.org/

Z-tight

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Quote from: PX-Z on March 08, 2024, 11:22:06 PM

Asking KYC on ATMs? How will they do that? It will be their huge loss if that happens.

Some BTC atm's require kyc before you can even trade on their machine, while some only ask for kyc when you carry out a tx that is above a certain limit or if they have any reason to be suspicious about you or your tx. You will be required to display your ID and the machine will also scan your face for kyc, and it is possible that very soon most machines will require kyc before ANY tx.

Iranus

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Quote from: Z_MBFM on March 09, 2024, 03:47:02 AM

Quote from: AnnaBayd on March 07, 2024, 11:43:10 AM

Hi guys,

I've been long fascinated with bitcoin ATM machines and love to spot them wherever I go traveling but haven't seen one for a long time in New York – are there any of them left in the city at all?

I keep hearing anecdotal stories of people using them but wonder if they are still considered a good way to buy bitcoin, given the steep fees these machines often charge.

Have you ever used a bitcoin ATM in NYC?

I am very interested in using Bitcoin ATM but Bitcoin is not considered legal currency in my country yet. So it is still illegal in my country by the government. Due to this there is no chance of it being launched in my country till now. But I think from where there are Bitcoin ATMs people definitely use it and use it very happily. People's interest in Bitcoin will increase even more when Bitcoin ATMs are launched worldwide. And everyone will start thinking of Bitcoin as fiat money. It will happen in the future but requires a long patience.

From the above comments, you can also see that not too many people are willing to use bitcoin ATMs for a number of reasons such as high transaction fees, potential privacy exposure, and fear of bitcoin robbery threats. ..So I think that even if we install more bitcoin ATMs, it will be very difficult to reach many people.

Furthermore, just because people use Bitcoin ATMs, that doesn't mean it has a chance of becoming currency. That's not the way to turn Bitcoin into currency, and it's not that simple. Personally, I think bitcoin has no chance of becoming a currency even if we had more time.

highalch

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Quote

The downside is mainly the ATM fee itself, which is usually high (usually 3-4%).

Here in Europe, ATMs with 10% fees are pretty normal. Lately, I'm seeing them disappear though. Wonder why.

Z_MBFM

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Quote from: AnnaBayd on March 07, 2024, 11:43:10 AM

Hi guys,

I've been long fascinated with bitcoin ATM machines and love to spot them wherever I go traveling but haven't seen one for a long time in New York – are there any of them left in the city at all?

I keep hearing anecdotal stories of people using them but wonder if they are still considered a good way to buy bitcoin, given the steep fees these machines often charge.

Have you ever used a bitcoin ATM in NYC?

I am very interested in using Bitcoin ATM but Bitcoin is not considered legal currency in my country yet. So it is still illegal in my country by the government. Due to this there is no chance of it being launched in my country till now. But I think from where there are Bitcoin ATMs people definitely use it and use it very happily. People's interest in Bitcoin will increase even more when Bitcoin ATMs are launched worldwide. And everyone will start thinking of Bitcoin as fiat money. It will happen in the future but requires a long patience.

RioBlemz

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P2P has always been the best option to buy and sell for me. I have not seen a BTC ATM and I have not used such. Interesting is the fact that your device can do all that the ATM is offering.

2Pizza410000BTC

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Quote from: AnnaBayd on March 07, 2024, 11:43:10 AM

Hi guys,

I've been long fascinated with bitcoin ATM machines and love to spot them wherever I go traveling but haven't seen one for a long time in New York – are there any of them left in the city at all?

I keep hearing anecdotal stories of people using them but wonder if they are still considered a good way to buy bitcoin, given the steep fees these machines often charge.

Have you ever used a bitcoin ATM in NYC?

Bitcoin is not legal in the country where I live. I have been using Bitcoin to be safe from administrative hassles. Bitcoin is not legal in my country There are no Bitcoin ATMs in this country. I have never used a Bitcoin ATM as there are no Bitcoin ATMs in my country. But I can convert my money from my country to my country current very easily via Binance p2p. I don't want to bring any other medium here as I can easily make up the money in my native currency. If anyone has experience using nyc they can definitely share their experience here I have no experience using nyc I can't share here

btc78

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In my country, I personally have not heard of a bitcoin ATM. I don’t know if there are really none or are there just too few in the country. Anyway, I am quite curious and would want to use it for myself. Where are the locations of these ATMs and are they safe? I get scared just talking about bitcoin in public what more to purchase or withdraw it in public?

God bless u

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Most people don't use Bitcoin ATMs for security concerns because what if someone is watching or following them and then they are attacked for money? When someone goes to an ATM, those who are watching them while they use a machine would know that they have money on them. So if someone who goes to a Bitcoin ATM is chased for his Bitcoins, that could be a bad thing and it is threatening.

It is much easier to sell the Bitcoins through online P2P platforms and receive the money in your bank account and do the same if you wish to purchase Bitcoins because it is easier and also doesn't charge a lot of fees.

adaseb

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In Canada people stopped using them years ago because you need to KYC. And if you need to KYC you might as well just using an exchange. Instead of using the atm and paying 10% fees.

Perhaps you can get away without KYC if you buy $100 worth however even that needs some phone verification at least, so it always will have some form of KYC either way.

fuguebtc

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Quote from: God bless u on March 08, 2024, 03:28:03 PM

Most people don't use Bitcoin ATMs for security concerns because what if someone is watching or following them and then they are attacked for money? When someone goes to an ATM, those who are watching them while they use a machine would know that they have money on them. So if someone who goes to a Bitcoin ATM is chased for his Bitcoins, that could be a bad thing and it is threatening.

It is much easier to sell the Bitcoins through online P2P platforms and receive the money in your bank account and do the same if you wish to purchase Bitcoins because it is easier and also doesn't charge a lot of fees.

Bitcoin ATMs are like cash ATMs, if you think you will be attacked when using a bitcoin ATM, you should not withdraw cash at the ATM . This sounds funny to me, why are only people with bitcoins targeted by thieves while people with millions of dollars in the bank are not? People who don't use bitcoin ATMs just because they want to protect their privacy, we should not have the illusion that anyone who owns bitcoin is rich .

I'm out of luck because I've never seen any bitcoin ATMs, but if I get a chance I'll definitely try them . As a bitcoin investor, I don't like using bitcoin for regular payments or having to use it continuously because it's wasteful but I will experience anything related to bitcoin at least once .

blckhawk

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Quote from: Poker Player on March 08, 2024, 10:43:27 PM

I occasionally use Bitcoin ATMs without KYC to sell small amounts of Bitcoin. They are easy to use, and fast, and without KYC it is worth paying the fees. Basically every time I use them I think that maybe this will be the last time, as I think it won't be long before they impose KYC 100% and then I will stop using them.

Youre not scared that they might have some ATM skimmer installed there? That's what scares me the most whenever I have to use an ATM, the skimmers are really tricky to spot too so at best I avoid bitcoin ATMs, so far I haven't used one but I know that I'd have to avoid it because of that fear, other ways to sell my bitcoin has worked for me and have encountered no issues with that method yet so I'm not that excited to use a bitcoin ATM. Maybe I'll try but I don't think I'll see any of that being built in my country because there's more people that are used to ATMs that are mostly for cash so it's probably a long time before I see any, I want see one even if I don't plan on using it.

siedemtrzy

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I don't have BTC ATMs where I live, but I don't really understand the point of them. Why would you want to use it when you can just buy crypto on an exchange, sitting at home? There are many places where you can easily buy it even if you don't want to do the KYC.

PX-Z

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Never had experienced using one of those as there is nothing here yet in my area. But i don't think i will use them regularly for cashing out or even buying bitcoin as its fee is always the case, it's too high compare to others, but using it once or twice will be good add up experience.

Quote from: Poker Player on March 08, 2024, 10:43:27 PM

as I think it won't be long before they impose KYC 100% and then I will stop using them.

Asking KYC on ATMs? How will they do that? It will be their huge loss if that happens.

Poker Player

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I occasionally use Bitcoin ATMs without KYC to sell small amounts of Bitcoin. They are easy to use, and fast, and without KYC it is worth paying the fees. Basically every time I use them I think that maybe this will be the last time, as I think it won't be long before they impose KYC 100% and then I will stop using them.

coolcoinz

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I won't say anything specific abut NY, but I do use bitcoin ATMs all around the EU, especially when I travel. They're very easy to use, usually located in shopping centers. The way I usually use them when I want to withdraw some cash is I send a transaction, go eat something and come back in an hour and the money is waiting for me. Yes, it can take an hour or more if you don't want to overpay for fees.

The downside is mainly the ATM fee itself, which is usually high (usually 3-4%). If you add it to the tx fee tha's like $10, it makes ATM pretty useless when you just need $50 for a meal or a train ticket.

God bless u

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Most people don't use Bitcoin ATMs for security concerns because what if someone is watching or following them and then they are attacked for money? When someone goes to an ATM, those who are watching them while they use a machine would know that they have money on them. So if someone who goes to a Bitcoin ATM is chased for his Bitcoins, that could be a bad thing and it is threatening.

It is much easier to sell the Bitcoins through online P2P platforms and receive the money in your bank account and do the same if you wish to purchase Bitcoins because it is easier and also doesn't charge a lot of fees.

Captain Corporate

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I do not think that they have the usefulness that people think they may have. Sure there might be "some" benefits to it, but people prefer digital over physical overall anyway so it doesn't get much attention. Doesn't mean that ALL people prefer digital, this is why they are still around, there are few that likes to go and get their coins which makes them still useful to a few people but the overall market doesn't really care about it. We are fine using the exchanges and not really deal with anything else in general. I personally hope that it gets a lot better one way or another, it should be something long gone, and its not which means that it can sustain some more.

umbara ardian

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One of the primary drawbacks associated with BTMS is their inherent fee structure. Transaction costs levied by BTM operators can significantly erode user profits. Given the plethora of established cryptocurrency exchanges and user-friendly banking applications offering seamless integration with digital wallets, the convenience factor of BTMs seems to diminish when weighed against the associated costs.

The economic viability of BTMS appears to primarily benefit their owners. Profit margins hinge on transaction volume, with strategically placed, low-rent locations offering a distinct advantage. However, in a city like New York with its notoriously high real estate costs, this advantage becomes negligible. So, P2P transactions hold immense appeal, fostering a decentralized marketplace for cryptocurrency exchange. The concept of a physical location facilitating P2P interactions within a major city like New York is intriguing.

Orpichukwu

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Quote from: Sandra_hakeem on March 07, 2024, 04:59:06 PM

I haven't seen people use them in reality, just in here..

In my country, I have seen receipts from about two people who have used it sometimes years ago when I visited a family friend in Lagos, Nigeria, and there are a few bitcoin ATM machines that are active that people are making use of, but I don't currently know how active they are right now.

The world is very exposed right now, and means to buy bitcoin have been made very easy, so people don't have to waste time walking down to the machine anymore, but rather they can sit in their house and make whatever transaction they want to make it safer. That way, no one will know what you are doing or when you visit the machine.

Topic: Are people still using bitcoin ATMs? - page 2. (Read 614 times)