Are people still using bitcoin ATMs? - page 4.

Mahanton

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Quote from: zakservers on March 07, 2024, 04:17:46 PM

Actually as long as we do have good options for p2p, spending such a huge fee for bitcoin ATM makes no sense, unless its like that you need cash very quickly or need to buy it so quick.

Totally on point on which i could say that this is something the word that i do have in my mind on the time that i do make out such comparison when it comes to fees.

When you use a Bitcoin ATM to buy or sell Bitcoin (BTC), expect to encounter fees in the range of 10% to 23%. These fees can vary greatly, influenced by factors like your geographical location, the total value of the transaction, and the specific Bitcoin ATM provider you're dealing with.
Source: https://www.cryptodispensers.com/blog/bitcoin-atm-fees

Who would be on their right minds that would be paying up with those % if you could be able to have that much less
on doing P2P on exchangers? For sure no one on their right minds would be doing so not unless if you are in a rush or just simply on what you have said.

sokani

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Quote from: AnnaBayd on March 07, 2024, 12:43:10 PM

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?

https://www.bitcoin.com/bitcoin-atm/

This website claims to help find Bitcoin ATM machines that are closer to you, though I can't confirm if it's working because there's none presently at my location. So you can check it out and see the ones in your area in NY.

Quote from: AnnaBayd on March 07, 2024, 12:43:10 PM

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.

I think Bitcoin ATM comes very handy when vacationing especially in Bitcoin friendly countries, but if your reason for wanting to use one, is just to buy bitcoin, then you can simply use an exchange because of the fees.

Obari

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I’ve heard of a friend who received bitcoin from a friend in the United States and I was told that it was charged a huge fee for a $700 transaction and I guess that’s a huge turn off for bitcoin atms.
I’ve seen several replies and I’m also interested in knowing if there are also bitcoin atms in the New York and the United Kingdom in general as I think I could remember someone asking me about the possibility of sending money from the uk to my country through cash and all I told him was to locate a bitcoin atm but I don’t know if it was later sent as the guy that asked me about this was a random guy at the restaurant that claimed his cousin had cash and needed to send it across to him.

Bitcoin ATMs are one of the easiest ways to send bitcoins but I’ve heard a lot of stories about the charges which I think are discouraging.

TravelMug

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Quote from: AnnaBayd on March 07, 2024, 12:43:10 PM

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?

Who wouldn't? I mean if you like to go for the experience then do it. Fee's though are very high as far as what we have heard to those who have tried it already.

Quote from: AnnaBayd on March 07, 2024, 12:43:10 PM

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?

If you are looking to buy then it might be the wrong way, to be honest, as I have mentioned the fees is exorbitant. I would rather look for other ways to buy BTC. If you are that Bitcoin enthusiast and privacy is your concern. You want want to check out the website below for buying and selling.

https://kycnot.me/

zakservers

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Actually as long as we do have good options for p2p, spending such a huge fee for bitcoin ATM makes no sense, unless its like that you need cash very quickly or need to buy it so quick.

uneng

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Quote from: yhiaali3 on March 07, 2024, 03:50:27 PM

Quote from: uneng on March 07, 2024, 01:32:39 PM

In every cases, the best alternative is always P2P transactions. The issue is that hardly ever you are going to find someone willing to negotiate. Maybe if there was a shop where P2P traders could meet would be a nice idea to be introduced in a cosmopolitan city like NY.

P2P transactions are good in countries that ban Bitcoin or consider Bitcoin illegal, so people resort to such methods. However, in countries that do not ban Bitcoin and have exchange services, P2P is not necessary.

As for your statement, “If there was a store where P2P traders could meet, it would be a good idea,” I think that this is not a good idea at all, because all P2P transactions depend on maintaining privacy and take place anonymously, far from the eyes of the government, so it is not appropriate for them at all to meet in a known place.

For me it's not a problem to reveal my identity when dealing with BTC. I just would like to sell and buy for the current fair market's prices, but through exchanges it's impossible, because there are always spread or order's fees, besides the abusive withdrawal fees many exchanges charge, going beyond costs the blockchain demands.

I consider P2P transactions to be important even in countries where Bitcoin isn't banned due to the reason presented above. It's annoying to become an "hostage" of exchanges, what means that if you want to deal with BTC, you have to do this through their services or you can't adopt the digital currency at all.

ATMs could be a great alternative, if fees weren't abusive as well...

Rikafip

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Quote from: AnnaBayd on March 07, 2024, 12:43:10 PM

Have you ever used a bitcoin ATM in NYC?

Haven't used them there, but I did use them in several Europe countries and up until ~2019-2020 it was my prefered way of buying/selling bitcoin, despite the high fees.

At some point already high fees went up even more and they introduced KYC for higher amounts which turned me way from BATM completely as I (luckily) have much cheaper ways to buy and sell bitcoin. I am not saying that say I won't use them ever again, but at the moment they are my last option.

yhiaali3

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Quote from: uneng on March 07, 2024, 01:32:39 PM

In every cases, the best alternative is always P2P transactions. The issue is that hardly ever you are going to find someone willing to negotiate. Maybe if there was a shop where P2P traders could meet would be a nice idea to be introduced in a cosmopolitan city like NY.

P2P transactions are good in countries that ban Bitcoin or consider Bitcoin illegal, so people resort to such methods. However, in countries that do not ban Bitcoin and have exchange services, P2P is not necessary.

As for your statement, “If there was a store where P2P traders could meet, it would be a good idea,” I think that this is not a good idea at all, because all P2P transactions depend on maintaining privacy and take place anonymously, far from the eyes of the government, so it is not appropriate for them at all to meet in a known place.

Dr.Bitcoin_Strange

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Quote from: AnnaBayd on March 07, 2024, 12:43:10 PM

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Have you ever used a bitcoin ATM in NYC?

Although the Bitcoin ATM in my country is not functional again, and I would not have even used a Bitcoin ATM because of the high transaction fee, according to the experience of Nwada001 on this thread, https://bitcointalksearch.org/topic/m.61845469

New York City is not the only country that has a Bitcoin ATM; other countries include Poland, Australia, Spain, Canada, Switzerland, the United States, have a Bitcoin ATM, and I believe it's still very functional in some of those countries.

kentrolla

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I have not seen Bitcoin ATM in my country and there was an startup who had installed one at a mall but they were arrested which clearly shows how much the government is opposing crypto and Bitcoin. I think we really don't need Bitcoin ATM as we have exchanges and everything like transfer, buying/selling can be done virtually. I don't think it would be useful and will just attract unnecessary problems to the users and it will just snatch the privacy.

Husires

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General Bytes (Major Crypto ATM Manufacturer) About a year ago, there was a security gap in the devices and that gap of Zero-Day Vulnerarability, which led to the withdrawal of dozens of devices from the market, and the ATM fees are high compared to many places that enable you to buy bitcoin at the cheapest price of all these reasons It led to the ATMS number compared to the past years, but it is still good tools if you want to spend 100 to 1000 dollars.

AirtelBuzz

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Quote from: AnnaBayd on March 07, 2024, 12:43:10 PM

Have you ever used a bitcoin ATM in NYC?

Hey stay away from using Bitcoin ATMs I have never actually seen a Bitcoin ATM machine. Bitcoin can be purchased through ATM machines using a debit card.If Bitcoin was legal in our country we might have considered ourselves one of the lucky ones because we would have been able to use Bitcoin ATM machines.

Quote

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?

If you are in New York City you can definitely get a little help if you visit this link.
libertyx

uneng

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I have never seen a Bitcoin ATM for real and I think it to be a waste of money, due to fees' costs. Nowadays every transactions can be done virtually, especially in a city like NY, so there isn't really a good point to use ATMs when you have exchanges and banking apps connected with each other. ATMs must be a good deal only for its owner who is going to profit from transactions, and that is only in case he doesn't have to pay a huge rent price to let his machine somewhere in the city.

In every cases, the best alternative is always P2P transactions. The issue is that hardly ever you are going to find someone willing to negotiate. Maybe if there was a shop where P2P traders could meet would be a nice idea to be introduced in a cosmopolitan city like NY.

thecodebear

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Occasionally I hear about Bitcoin ATMs expanding to more and more places. So I would have to assume people use them. It sure seems like a pretty bad way to buy bitcoin, considering the fees, but people must be using them since they keep growing their numbers.

Z-tight

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Quote from: AnnaBayd on March 07, 2024, 12:43:10 PM

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 check this website^[1] to find out if you can find BTC atm's around New York.

Quote from: AnnaBayd on March 07, 2024, 12:43:10 PM

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.

It depends, probably if you are on a vacation and you are not with all your devices and there is no way you can purchase BTC at that time, then a BTC ATM is a good option if there is one near you, and if you really need the coins. However, BTC ATM's charge very high fees, and while it may be a good option to buy BTC without kyc, some machines require kyc either before you even trade or if you want to make a tx above a certain amount, or if they have any reason to suspect you.

[1] https://coinatmradar.com/

AnnaBayd

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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?

Topic: Are people still using bitcoin ATMs? - page 4. (Read 533 times)