Are people still using bitcoin ATMs?

shield132

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Quote from: Plaguedeath on March 09, 2024, 08:53:31 AM

Probably they use it for tax avoidance, that's why even though people are really rare to use ATMs, but the number of Bitcoin ATMs are still high. There are no stupid businessmen, there must be something that they can use it to take advantage or benefit.

Have you ever see small business in your country that have no customer and still survive until now? it's the another example.

It's not a good choice for tax avoidance. In my country, crypto ATMs require you to submit your ID number and confirm that by receiving a message on your phone number and entering that into the ATM. Also, I have heard that in some countries sometimes you have to pass a KYC procedure. It's not a good way for tax avoidance. Besides KYC, ATM fees are so high that it's better to pay taxes.

Quote from: LLCrypto on March 09, 2024, 10:58:16 AM

Never used a Bitcoin ATM but curious about what the fees are.

ATM owners set the fees but from my experience, fees are sometimes up to 25%. I have never seen fees lower than 10%. I include the spread in it.

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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?

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?

Not in new york but in near office in my city in which back in 2018 when there is existing
bitcoin ATM but now its gone maybe because there are lots of exchange and local wallets that
already offers bitcoin so why a need to expose yourself in public when you can safely buy/sell
silently .

and also there new Vending machine installed in convenience store in the ground floor
but only accepting Bitcoincash in which one of the currency that I will never use meaning I have
no chance trying that machine forever.

Quote from: Troytech on March 10, 2024, 01:00:28 AM

I'm not really leaving in very developed area where I spot Bitcoin ATM at all but I've heard of it before and I heard there have a very high gas fees, so for real who would use them when you can sell lower with centralized exchanges on you device, I wonder why people even use them unless they have have a very urgent issue and wants to sell or maybe buy bitcoin

correct, that is the disadvantage of using ATM in bitcoin because the fee is really disappointing
and this is also the reason why we need to use such when there are exchange that can directly send to our wallers.

Oasisman

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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.

Convenience I guess? well, not the kind of convenience we get behind our computer and mobile screens, but the kind of convenience when you are around the city and you needed to withdraw some bitcoin and you needed cash outright.
To be honest, I haven't seen one yet, since I live in a municipality far from big cities and when I visit big cities I don't have time to find one either. But, just in case I see one, I'd definitely love to try to withdraw at least just for the experience.
I'm just wondering though, how many confirmations does it take for the bitcoin ATM to dispense cash? I've heard bitcoin ATMs has higher transaction fees compared to other options online.

Casdinyard

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Probably not anymore. At best there's probably a handful of ATMs globally, with even less people capable or eager to use them as well. The thing is, and let me be real here, the only reason why ATMs for bitcoin/crypto even came into existence is because of a massive marketing campaign made by the crypto industry to promote just how usable crypto is, by allowing people to use and convert their fiat into crypto and vice versa using familiar machines and affects.

BItcoin's walking on its own feet now and needs no further introduction, even those who don't know about it's got a couple compelling information about bitcoin that could very well drive them into investing or at the least research more about the cryptocurrency titan. ATMs are no longer necessary and just like what happened a few months ago, could even become a security risk to those who use it. Some Bitcoin ATMs keep track of the users who access the machine, complete with all their identifiable information. Hackers and scammers may steal these machines and even though they wouldn't really get that much money from it, they could use the information stored in this machine to further their scamming goals, which is a massive threat.

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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 google for bitcoin ATM map and you would get your answer. Look at the links some users posted.

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.

Fees are an issue, you should compare it to selling bitcoin and getting fiat to pay, buying giftcards to pay and directly using bitcoin in the city. Things are not as streamlined as we bitcoiners want them to be, but its getting there slowly. When I first came to this forum, most of these options were also off, except trading.

Quote

Have you ever used a bitcoin ATM in NYC?

I live somewhere else and hence No. Where I live, there no bitcoin ATMs yet, the law enforcement confiscated the previous ones.

Troytech

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I'm not really leaving in very developed area where I spot Bitcoin ATM at all but I've heard of it before and I heard there have a very high gas fees, so for real who would use them when you can sell lower with centralized exchanges on you device, I wonder why people even use them unless they have have a very urgent issue and wants to sell or maybe buy bitcoin

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Quote from: AmoreJaz on March 09, 2024, 02:33:46 PM

I believe that's the major problem when it comes to bitcoin ATMs, the fees involved are quite unreal when you compare it to the regular online exchange. Hence, traders or crypto users are just using their online local exchanges to withdraw their coins via their local banks or local payment accounts.

The companies offering Bitcoin ATM need to work on their fees, the charges are always too much, it'll be less expensive to use the local currency of the country that you're visiting as a tourist than to use Bitcoin ATM. It's not a good business decision to make a new experience that needs adoption to be more expensive than what is normal and being used more by the society. I won't use a Bitcoin ATM if I have to pay more to use them, it'll be better I use exchanges to trade my Bitcoin or through P2P to the local currency of the country that I'm visiting. I love to travel and would had love to to use Bitcoin ATM when I visit a new country that has one, the experiment alone is worth it but the fees is what will hold me back and many tourists too

dansus021

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I am not from New York and never tried a Bitcoin ATM before but if there any here in Indonesia I am going to definitely using it as my to-go place when i need a cash hahah. but my question is Can the bitcoin Atm turn the Bitcoin into cash and act like P2P because I watched on the internet the bItcoin atm is very small standing PC

EFS

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I don't know about NYC, but in my city there are ATMs like this and they are usually used by tourists. It's easier and cheaper for citizens to withdraw money from centralized exchanges, but for tourists such ATMs are very convenient. When I travel abroad, if such an opportunity is available I would probably use it as well.

GreenInk

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In the UK, Most of the BTC ATM's only paid the crypto to your wallet if it was for an amount <£50.

Anymore and the ATM would take your cash and tell you to phone/email.

Hence they wasn't taken seriously.

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Quote from: dothebeats on March 09, 2024, 12:54:06 PM

There used to be some ATMs in the Philippines but the last time I heard of it was 4 years ago. Never knew if it’s still around or whether it has been utilized as the fees are extremely high. I remember those being the hype in the metros and a lot of news outlets covered it and made some articles. Then again upon the realization of the public that you will not get the value of your coins in there, they have since moved on and just went with exchanges.

Anyway, a lot of people already showed you the link to check whether there’s a nearby bitcoin ATM to you or not, but I doubt that website is still updated unless the operators themselves enter the data in there.

I believe that's the major problem when it comes to bitcoin ATMs, the fees involved are quite unreal when you compare it to the regular online exchange. Hence, traders or crypto users are just using their online local exchanges to withdraw their coins via their local banks or local payment accounts.

Most people who are using physical bitcoin ATM are only for the mere purpose of experiencing it. Afterwards, they go back to what they usually do, which is more on online transactions.

dothebeats

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There used to be some ATMs in the Philippines but the last time I heard of it was 4 years ago. Never knew if it’s still around or whether it has been utilized as the fees are extremely high. I remember those being the hype in the metros and a lot of news outlets covered it and made some articles. Then again upon the realization of the public that you will not get the value of your coins in there, they have since moved on and just went with exchanges.

Anyway, a lot of people already showed you the link to check whether there’s a nearby bitcoin ATM to you or not, but I doubt that website is still updated unless the operators themselves enter the data in there.

Z-tight

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Quote from: LLCrypto on March 09, 2024, 10:58:16 AM

Never used a Bitcoin ATM but curious about what the fees are.

The fee is expensive, when you use a BTC atm you should expect to pay fees as high as from 7%-20%, it all depends on the atm operator and how much they charge, these operators would fix their charges or fees based on their operational cost in the business, so if you are not ready to pay fees as high as this, don't use a BTC atm. However, take note that after buying BTC from an atm, if you want to send the coins to another BTC wallet, what you are going to pay is on-chain tx fees to miners to confirm your tx.

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Yes of course but all depends on the country or the location because not all countries have the bitcoin ATM 🏧 but I believed place like America, El Salvador, UK and Central Africa Republic would have the machine so if you are traveling to these places then you will see them. As for me, I have not even seen the machine physically but seen in internet. If the ATM machine nis not faulty then you can make use of it to buy and make transaction with it.

And for now it is not everyone can use bitcoin ATM machine because not everyone has it in their countries and you also have that experience too.

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Quote from: shield132 on March 09, 2024, 07:38:28 AM

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?

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?

Can't talk about New York City but everywhere I have ever been and seen Bitcoin ATMs, they all have been very terrible. I don't know why Bitcoin ATM owners think it's a good way to manage business with extraordinarily high fees but besides Bitcoin enthusiasts no one uses ATM. People only use Bitcoin ATMs just once to test it and experience what it looks like, just like a fan thing. A friend of mine has Bitcoin ATM in his restaurant since 2016 and rarely one or two tourists a month come to use it and take pictures of it, that's all.
Don't use Bitcoin ATMs. It's better to buy Coinbase card if you live in the USA or get a XAPO card if you travel often. You'll get better fees compared to Bitcoin ATMs and these cards offer good ATM withdrawal fees.

Never used a Bitcoin ATM but curious about what the fees are.

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Quote from: shield132 on March 09, 2024, 07:38:28 AM

Can't talk about New York City but everywhere I have ever been and seen Bitcoin ATMs, they all have been very terrible. I don't know why Bitcoin ATM owners think it's a good way to manage business with extraordinarily high fees but besides Bitcoin enthusiasts no one uses ATM. People only use Bitcoin ATMs just once to test it and experience what it looks like, just like a fan thing. A friend of mine has Bitcoin ATM in his restaurant since 2016 and rarely one or two tourists a month come to use it and take pictures of it, that's all.
Don't use Bitcoin ATMs. It's better to buy Coinbase card if you live in the USA or get a XAPO card if you travel often. You'll get better fees compared to Bitcoin ATMs and these cards offer good ATM withdrawal fees.

Probably they use it for tax avoidance, that's why even though people are really rare to use ATMs, but the number of Bitcoin ATMs are still high. There are no stupid businessmen, there must be something that they can use it to take advantage or benefit.

Have you ever see small business in your country that have no customer and still survive until now? it's the another example.

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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?

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 haven't been to NYC before but i was in Thailand few weeks ago for vacation and i saw a couple of people using it.

shield132

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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?

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?

Can't talk about New York City but everywhere I have ever been and seen Bitcoin ATMs, they all have been very terrible. I don't know why Bitcoin ATM owners think it's a good way to manage business with extraordinarily high fees but besides Bitcoin enthusiasts no one uses ATM. People only use Bitcoin ATMs just once to test it and experience what it looks like, just like a fan thing. A friend of mine has Bitcoin ATM in his restaurant since 2016 and rarely one or two tourists a month come to use it and take pictures of it, that's all.
Don't use Bitcoin ATMs. It's better to buy Coinbase card if you live in the USA or get a XAPO card if you travel often. You'll get better fees compared to Bitcoin ATMs and these cards offer good ATM withdrawal fees.

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I just don't see any reasons to use them. I hate regular ATMs. They're simple to use, but I don't feel comfortable dealing with money like that in a public space. Bitcoin ATMs can attract even more attention because some think that all people who have cryptos are rich or whatever. Plus, a lot of people are saying that Bitcoin ATM fees are the worst.
Also, while there are a lot of Bitcoin ATMs, it's important to note that they're not widely distributed around the world. More than 90% of Bitcoin ATMs are in North America (just the US and Canada), while many countries in other regions have just a few of those machines.

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Quote from: adaseb on March 09, 2024, 01:35:49 AM

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.

I did not even know that bitcoin ATM is available in my country. I don't think people will make use of it even if it is available. P2p have made everything easy. One you don't need to leave the house. But if you want to make use of the ATM you need to leave your house. And having to do with kyc. For does people that love privacy it should be avoided. If bank ATMs i don't have talk more oh having a bitcoin ATM card. That 10% fee would annoy me. And from the explanation your given there is no way you can escape kyc if you want to make use of that service. There are people that will gladly enjoy using such service but as for me is a no.

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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 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/

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Quote from: PX-Z on March 09, 2024, 12:22:06 AM

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.

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Quote from: Z_MBFM on March 09, 2024, 04:47:02 AM

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?

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.

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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.

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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?

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.

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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.

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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?

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

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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?

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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.

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Quote from: God bless u on March 08, 2024, 04:28:03 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 .

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Quote from: Poker Player on March 08, 2024, 11:43:27 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.

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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.

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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, 11:43:27 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.

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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.

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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.

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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.

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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, 05:59:06 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.

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Quote from: coinerer on March 08, 2024, 01:11:45 PM

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?

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 have not had the chance to use Bitcoin ATM because ATM is not yet available in my country. Bitcoin's ATH will take a long time to roll out globally. However, if the ATM is enabled, it will be possible to remain anonymous when someone goes to cash out bitcoins from the ATM So in decentralized things I don't like to reveal my identity. So I am not interested for ATM. For that I am not enthusiastic about it. But it would be great to see if ATM is available around us

I am yet to see a BTC ATM, let alone think of using one.
In my country these days, people even hardly go to use the ATM machines because they would rather use the point of service terminals which is known as the POS machines and also mobile banking apps has done more to ease the burden of either visiting an ATM, a POS vendor or carrying large cash about.

A country that has BTC ATM machines is one that has allowed its citizens to use and own crypto currency. A place where it is legal to transact with crypto.

These days we find more regulated crypto agencies springing up and that's an issue in a way to the idea of decentralization that BTC stands to uphold, so if I claim to be an anonymous BTC holder, why would I go to use an ATM that is probably fitted with cameras to identify its users?

coinerer

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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?

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 have not had the chance to use Bitcoin ATM because ATM is not yet available in my country. Bitcoin's ATH will take a long time to roll out globally. However, if the ATM is enabled, it will be possible to remain anonymous when someone goes to cash out bitcoins from the ATM So in decentralized things I don't like to reveal my identity. So I am not interested for ATM. For that I am not enthusiastic about it. But it would be great to see if ATM is available around us

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Quote from: Helena Yu on March 08, 2024, 11:27:00 AM

Based on Bitcoin ATM installations growth, there's a slight decline in the last year, but it continue to rise until now. The demand should be high, if not there's no reason for them to open a new ATM machine.

But personally I didn't use it, I feel like it's not safe with my privacy and the fees is ridiculously high. I'd go for no KYC P2P instead, I don't have to go out and I won't need to pay fees as high as in ATMs.

Those who do not support the use of bitcoin ATMs because of privacy issues also do not support the use of bitcoin in payments, because that also causes them to lose their privacy. So how can bitcoin become more popular or popular and become a world currency? I'm not criticizing you but I want to ask those who are not willing to use ATMs or use bitcoin in public. Are they the ones who don't want bitcoin to become popular?
How can we ensure privacy when using bitcoin in public such as in payments?

AVE5

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Honestly I've also been hearing of bitcoin ATM but haven't sighted anyone in my country. I can be so assured that we still don't have one yet because the State of bitcoin and crypto access in adoption is not up to a 💯%. I came from a country where the governments bans and lifts the bans time after time over cryptocurrencies. So there's still this unclearity between my country and Cryptocurrencies yet so I wonder if there'd ever be a resolution between both and until then I wonder if they'd ever be one of the bitcoin ATM machines here, although many of us here in the country that holds and invests on bitcoin are on expectations that things gets resolved soonest and forth looking up to have ATM machines at all corners just as how there are Fiats ATM machines everywhere here too.

Rikafip

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Quote from: Nwada001 on March 07, 2024, 06:14:43 PM

I believe Bitcoin ATMs are just means for those who are too lazy to do normal research on how to buy bitcoin online

Believe it or not, some people don't want their banks/government know that they are buying bitcoin.

Quote from: Nwada001 on March 07, 2024, 06:14:43 PM

Most of them think it's an anonymous way of buying, which is far from that because the ATM captures their face and their mobile number is also taken.

If you are worried about cameras, you can always wear mask, sunglasses and baseball cap and pretty much completely hide your face and regarding the mobile number, not all BATM require that (at least not in Europe). I am not saying that its a best way to buy bitcoin/sell because it simply isn't, but I'll rather have more options than not.

The Sceptical Chymist

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Quote from: Z-tight on March 07, 2024, 01:12:44 PM

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

Good on you for linking to that site, which is fantastic for keeping track of where all the BTCATMs are--and said locations have definitely expanded over the past few years. Right now there's at least 5 of them in my town, whereas when I made a thread about my first time using a BTCATM (and why can't I find that thread??) there was only one, and it wasn't working.

But coinradaratm doesn't give any indication as to whether these machines are being used or not. Around here, I'm in the gas stations where they reside all the time and never see anyone using them. In NYC, though? I betcha at least some of them get used a lot. But NY is a pretty crypto-unfriendly state if I recall correctly, even though they were supposed to be big supporters of it. Eh. The ATMs have existed for years, so I'd imagine they're not going to go away anytime soon.

alexforneus

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I don't get idea of that ATMs. If you want to buy some coins there are places with much lower fees. If you want to make it anonymously you still can find option to make it cheaper

Helena Yu

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Based on Bitcoin ATM installations growth, there's a slight decline in the last year, but it continue to rise until now. The demand should be high, if not there's no reason for them to open a new ATM machine.

But personally I didn't use it, I feel like it's not safe with my privacy and the fees is ridiculously high. I'd go for no KYC P2P instead, I don't have to go out and I won't need to pay fees as high as in ATMs.

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Since we're in a digital gold rush, Bitcoin ATMs were pioneers in cryptocurrency exchange. When Bitcoin was hard to get, they were crucial, like the early prospectors. Imagine that a few years ago, these machines gave the masses quick access to Bitcoin.

Bitcoin ATMs still exist in New York City, but they're less common. Why? Since the environment changed. The cryptocurrency world has advanced like we have from panning for gold to trading gold equities on sophisticated platforms. Today, many platforms offer secure, convenient, and affordable Bitcoin trading.

When was the last gold ATM you saw? You havent because gold's value increased and its acquisition methods improved. Bitcoin has no distinction. The digital gold of our time. Bitcoin ATMs showed the possibilities of decentralized cash, but technology and customer behavior have made them less popular.

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Quote from: thecodebear on March 07, 2024, 01:27:17 PM

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.

In my region, the growth of Bitcoin ATMs have not been visible recently unlike in the last one year when some citizens and members in this forum from my local board shared news about a new Bitcoin ATM in their locality, but lately there have been a lot of financial crisis in the country economy where the government is closing down on all medium of exchanges within the economy so at the moment the development is kept on low key since the government come after any available bitcoin ATM in the nearest future

nakamura12

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If there's more expansion of Bitcoin ATM like they are planning to put other Bitcoin ATM then yes there are still people who use Bitcoin ATM. I can't really tell about other places or other countries if they are still using Bitcoin ATM and in my country, I didn't heard anything about Bitcoin ATM and if there's any Bitcoin ATM placed in my country. It was popular before and many have used it and once again, if you heard someone planned to put a Bitcoin ATM then you can say yourself that someone still use it.

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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.

In my opinion and understanding, Bitcoin ATMs can never be considered the best way to buy bitcoin. To start with, they have one of the worst fees when compared to what a normal bitcoin transaction fee should be, and their price is always, on the other hand, much higher than what Bitcoin is trading on the crypto market.

I believe Bitcoin ATMs are just means for those who are too lazy to do normal research on how to buy bitcoin online because they are just required to either use their card or pay with cash and their mobile number, and they are good to go. Most of them think it's an anonymous way of buying, which is far from that because the ATM captures their face and their mobile number is also taken.

Sandra_hakeem

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I haven't seen people use them in reality, just in here..well the first impression anyone would have when they hear of Bitcoin ATMs would be - "maybe I could withdraw my Bitcoins and store them in my home someday for more safety"? Lol....

I think it'll help a whole lot... And it features would include running rbf on transactions, accessing some block chain informations, adjusting the scale of txn fees per(Vbyte).

Sandra 🧑‍🦰

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Well, I haven't physically used a bitcoin ATM, and I just recently learned about this bitcoin ATM. It's amazing that there's already an ATM dedicated to bitcoin. I'm curious about how it works. I mean, I looked it up and learned how it works, but I'm more curious about experiencing it firsthand or physically. But the thing is, can this innovation be implemented worldwide? Well, it depends if there will be a strong desire in bitcoin to pursue it or if the country itself is welcome to the idea of bitcoin because all things should be done with process. Anyway, yeah, I'm very curious about how it will be used personally. I want to experience it just once, but the problem is I can't go to another country or to NYC, as the OP said there is a bitcoin ATM there. But has this ATM been used by those holders or investors? As we know, we are long-term holders, so are they actually using it?.

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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.

TBH I'm not interested anymore.

Aside from the fees and spread, all the bitcoin ATMs that weren't too far from us required folks to submit an ID. I try to control the platforms I give my personal documents so if I'm gonna do an identity verification, I might as well pick an exchange offering a variety of products/services I plan to use for a long time.

Odohu

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Bitcoin ATM was very popular in the past when the one in my country came on board, the excitement was too much. Unfortunately, it stopped working and the news about Bitcoin ATM started fading away. I don't know if it will be fair to conclude that that technological innovation is phasing away with the news because should it still be fashionable, we would have been seeing posts about it even in this forum. People would have been dropping their experiences with the machine regularly

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I'm not sure but still possible that there are a few who are using this. But for me, I don't find it a reasonable and wise thing to do when fees are too high. I'd rather use an exchanger to make transactions than of paying huge fees with these machines.
Maybe, this is the reason why the spread of Bitcoin ATM has not been too aggressive this time unlike in the past few years because the demand is not that big enough to keep the business alive and probably, it was not really profitable. In fact, we have a lot of options to send Bitcoin to another person.

If the developer will take actions to lower transaction cost that possibly encourage people to use this machine. I think they have to consider this but if not, this won't make us see a good option.

Upgrade00

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Quote from: sokani on March 07, 2024, 05:13:50 PM

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.

I'll be wary of what privacy information they collect and what they do with those information.

I have used https://coinatmradar.com/bitcoin-atm-map/ for a long time now and it works fine to the best of my knowledge. To know how well it works, I'll have to compare it with other ATM tracking services and check for discrepancies, but without that I'll recommend them.

Ryu_Ar1

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You can search for it here https://coinatmradar.com/countries/ and if you look at the list there and by saying specifically for New York it seems like there is none because I see that even in the USA there are a lot of ATMs but when I search for New York I don't find any.

Talking about bitcoin ATMs, I actually want to try it but indeed in my country Indonesia it is no longer there. Previously there were 2 bitcoin ATMs located in the capital and another one was placed in Bali because there is a tourist destination and many tourists visit there but it seems that it is not too interested so it is left abandoned and until now there is no more news about bitcoin ATMs in Indonesia.

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

.

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.

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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? (Read 533 times)