Topic: Bitcoin ATM - page 2. (Read 3210 times)

Personally i prefer to use online exchange to buy bitcoin, ATM can be comfortable but you have to pay an higher fee on your purchase

i never use bitcoins ATM,but i see some bitcoins ATM on my country,they look quiet and just like unused ATM,maybe people with bitcoins more like to use online transaction from their computer or smartphone,i think its more simple.

LA has several Bitcoin ATMs. Most are on the west side. There's one on Sunset, one on Hollywood Blvd, one in the Westwood Mall..

As one of the above user has indicated clearly about the bitcoin ATM's located in various locations in various cities is increasing. Only due to certain market situation few ATM's has got shut. Now bitcoin debit cards are into circulation. So at this moment increase of ATM's will lead to increase of adopters.

Find the limits fluctuate a bit due to supplier and I can never be sure if they have changed limits.
Talking mostly about the Robocoin DT Vancouver,they often would put limits up that did not match the atm finder sites.
The farther out of downtown I get the more sketchy the operations get,one was listed that was gone for about 6 months.
Kind of a bother when you are treking 30 minute drive to the closest location to see it is send only or limited to $500.

As I see from online info (if you click check online button). Limit is $600 per purchase, and daily limit is $1000, so I assume you can do a second operation right after the first one for $400 more.
Didn't know they ask for ID from the very beginning, this is not usual scenario. However, operators are free to do different verifications based on their KYC/AML compliance program.

Regarding fees, this one (13.4%) is calculated online based on price feed and is calculated against to BitcoinAverage. I use the same feed for all machines to make fees comparable.
So sometimes operators might advertise different rate in case they use different feed, e.g. BitStamp, Coinbase etc, BitRocket uses by the way Coinbase feed as it is seen on the site, but I calculate fees myself. Will be good if you could check it at a new Satoshi machines and update in case it is wrong.

There are no ATM's related to bitcoin in my area, I would like it certainly if I could get bitcoin by inserting bills in a machine rather than meeting someone physically and completing the exchange, I don't know if there are allot of followers for it though.

There is an ATM, I used it only once when it was first launched and not even sure if it's still operating or not, The fees are just too much for a normal exchange where you just pay a fraction in normal exchanges "Although this type of ATM's was really convenient".

I think they remove it since none has been using it for quite some time or there are user but still it cant pay the electric bill and the payment for the mall that why the atm has been move away.

My country used to have an BTC ATM at the central of the country. The shopping mall is packed with people and the atm is standing there out in the open with no shop or decro blocking the view. Yet hardly anyone used it at all. So within half a year, they remove it away. Sadly, now i cant find a btc atm in my country.

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CoinATMRadar

A very useful set of comments and website!

I have used two of the three in Miami, yes, they changed the machines.  $600 limit per visit, ID required.  I believe that "Subsequent Visits" have somewhat less onerous requirements, as the machine (system) remembers who you are, you enter your phone number and PIN number.

I will have to re-check the premium, it WAS 9%.  13.4% is distressingly high (I did not even bother to do the arithmetic when I last bought BTC).

The newer machines are more robust than the older Lamassu's.

Yep, sorry for misleading you. But in general I think the usage is about similar in the city of similar size in the same country.
From what I hear from operators Canada and US are quite similar in usage.
And it is more depends on the location itself and done promotion, here are the average figures I know at the moment.

Usage:
buy ~90% vs. sell ~10%
In very volatile price market these proportions change quickly, but then return to about these figures in stable market.

Volume:
An average machine at average location gets about $20-30K volume per month.

Average transaction is about $200-400 from what I know, but the distribution might be skewed with many small and several significantly big ones. There are about 50-70 users per month.

These are kind average figures for average location in developed country (Europe and North America are quite similar in figures).

However, I know locations where more than $100K was done per month, although there are definitely some which even didn't make return on investment. It all varies.

@CAR

Sorry my bad I misunderstood what you had access too. When you referenced region I presumed you had more details on stuff like that.

Unfortunately, I have no such info. Obviously, I meant the publicly available data, like fees, limits, verifications, one-way vs. two-way, etc.
Info you ask about is available only to operator of each machine, which they don't share.

I have a post about how much some machines did with respect to volume, but again this info is based on public announcements.
You can read it here: http://coinatmradar.com/blog/bitcoin-atm-profitability-part-2-real-examples/


This one is removed long time ago. It was a Lamassu unit, which was available for small purchases. As far as I know it was due to strict German laws regarding operating bitcoin ATMs, that's why it was removed. Basically there were several other machines, like the one in Münich later, which was also removed and while it was there it was operating in demo mode selling very small amounts (up to 100 EUR to all customers per day as far as I remember). Germany sucks with respect to bitcoin ATMs, I think you need something of the bank level license to operate them there.

Has everyone here used the BTC ATM in Berlin (in the bar: Room77)? Any feedback on it is welcome.

While a bitcoin atm near me sounds cool, it kind of just takes away from bitcoin being digital currency and makes it more of a real life thing.  I don't believe it was supposed to be that way.  There seem to be none near me,  but if there is one soon ill be the first to try it haha.

Would be really interested in Vancouver,B.C (Canada) stats for usuage especially Richmond and Vancouver if that is possible. Been trying to gauge Richmond but they seem to be set up for buy only,at least what I noticed so far.

Hey guys. Very interesting discussion here.

Just wanted to address OP question - there are actually about 35 bitcoin machines in CA, not 2.
You can find here the full list of bitcoin ATMs in California.
Of course, there are several main areas with concentration of machines in Los Angeles, San Diego and San Francisco.

Also I mentioned several times people were mentioning like there are no machines, e.g. only 1 in Sydney. There are actually 5 machines in Sydney.

For latest locations - one can use CoinATMRadar bitcoin machines map. I keep this map up to date for quite a long time. Not 100% guarantee, but many machines should reflect real data as I'm in touch with many operators. Also user feedback can be found on pages, in case I'm not that fast at updating listings.

Addressing the comment regarding the bitcoin machines lack of installation, and that the most boom was when the price was high, well, actually when the price was falling, many closed locations.
I know this because was in touch with many operators, and many still were using the model, when they held bitcoins in their hot wallet (not connecting to exchange for immediate mirror transactions).
So when price fell, BTC holdings also lost value. This was additional loss for many, that's why it was not working good.

However, since price stabilized - conditions became better. Actually what we see lately - there is a much faster growth of bitcoin ATM installations.
Check stats here http://coinatmradar.com/charts/#growth


Addressing the concern about high fees. They are at the moment 8% average for buy bitcoin, 5% sell bitcoins. In the U.S. the fees are a bit higher than average, in Europe I believe lower (have not checked it for a while).
I also found this high at the beginning, but then having conversations with people running ATMs, it is not really that high. I mean operators are not doing crazy money here, it is kind of balance of costs on one side and revenue on the other. Of course, they are doing profits, but not as a rip-off of customers. Nowadays, more and more there is a trend to follow KYC/AML, especially in the U.S. and this adds to costs as well.

In the end of the day, comparing locabitcoins, when you need to meet with some stranger you don't know, or use a bitcoin ATM at about same fee level, I would prefer bitcoin ATMs personally.

Regarding following KYC/AML - yes it's happening, but this is reasonable usually. Also as some mentioned here - Lamassu are by design don't really fit into this model and many machines in operation don't require any phone or ID verification. Rest machines - usually have phone/ID verifications. But these checks are also based on some limits. E.g. normally you can purchase some amount w/o verifications, e.g. up to $500, then up to $1000 you need phone by SMS check, and then up to $3000 you need to scan ID. It is not like you need check phone and ID for purchasing $20 in bitcoins. Usually those requirements make sense. However, as I said there are still many machines, which don't require any kind of verifications.

I find bitcoin ATMs quite useful at least at this stage of development:
- it helps people to get into crypto world quickly and smoothly (now machines are quite reliable, you don't have this Robocoin experience anymore). Also some random people can see it in public places and gets interested. I see daily many twitter posts like "you won't believe, I just saw a bitcoin ATM".
- immediate transactions without previous opening account/verifications for days etc.
- I also see more and more an opportunity for cheap money transfers. Although buy bitcoin fees are quite high I see at many locations sell bitcoin price is quite low. Sometimes it may be even -2% to the market, so even better than market. This is due to lack of bank relationships and basically operators need bitcoins to run business (90% of transactions are buy bitcoin, only 10% is sell), so operators set very low fees for sell operations. And this creates an opportunity to send money from abroad, buy using another bitcoin ATM for buy bitcoin out of the country. So e.g. if one charges 5% for buy bitcoins and another charges -2% for sell bitcoin in country, you can send money from cash to cash for 3% immediately.

If someone has any particular questions, e.g. about some stats as I have access to full database of all locations - let me know, will try to address.

That is true. But still, there are no many BTC ATMs, at least not in my country, so when they enlarge the number they will become much more convenient. But people are showing interest and ATM network i slowly growing.

Bitcoin ATM's are convenient when they are close and easy to use, definitely better than regular exchanges and don't require any document verification, the fees are relatively high though.