Bitcoin ATM - page 2. | Bitcointalksearch.org

OROBTC

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Quote from: Restmand on May 10, 2017, 10:59:49 AM

Quote from: ConCoins on March 24, 2017, 12:09:13 AM

I just tried a new Bitcoin atm that was installed about 5 min from my house. I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100? What gives?

If it is real atm card, i didnt want it. I must prefer an online wallet. I have been doubting it because for hackers they will be easily hack accounts without a prior notice of the users. They will easily tapped any electronics device on it and then they will get all the infos including the passwords obviously, the email, address and everything thay they wanted.

Every BTC ATM I have every used (machines in various cities, six total machines, all but one in the USA) used CA$H, not credit cards nor debit cards. So, credit card skimmers are not an issue.

Perhaps hackers may find it useful to steal cell phone info, BTC public keys (addresses), etc., but I have not heard of that -- yet!

I once had to send a copy of my Driver's License to their HQ in one case, a photo from my smartphone of it and my smiling face as proof of identity (USA).

Restmand

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Quote from: ConCoins on March 24, 2017, 12:09:13 AM

I just tried a new Bitcoin atm that was installed about 5 min from my house. I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100? What gives?

If it is real atm card, i didnt want it. I must prefer an online wallet. I have been doubting it because for hackers they will be easily hack accounts without a prior notice of the users. They will easily tapped any electronics device on it and then they will get all the infos including the passwords obviously, the email, address and everything thay they wanted.

OROBTC

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Quote from: tiggytomb on May 10, 2017, 01:35:11 AM

The price of bitcoin via an ATM will always be higher than the market price, I experienced this on my first go and it worked out at a 6% difference, the price you pay convenience I guess.

I have heard of a price premium as low as 6% which to me appears very reasonable. I have never paid less than 8% and have paid as high as 14% (once!). As mentioned above by a couple of psoters, they have to buy the ATMs and maintain them, as well as have someone go around once a day or week to take the money out. It adds up.

On the other hand, it has always been fairly hard for m but better than the ATMs.e to arrange meetings via localbitcoins. Then drive over, spend the time doing the deal and deal with the (very slight in my case) risks. So, a level of 12% is not unreasonable IMO.

Yes, you can get better rates through exchanges, etc. bitcoin.com offers the service for 7.5%, which is kind of high but better than the ATMs. I had used Circle, but they started getting very difficult to use (intrusive as well), even though their premium was something like 1% - 2%.

(USA experiences, once in Canada)

tiggytomb

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The price of bitcoin via an ATM will always be higher than the market price, I experienced this on my first go and it worked out at a 6% difference, the price you pay convenience I guess.

magneto

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Quote from: ConCoins on March 24, 2017, 12:09:13 AM

I just tried a new Bitcoin atm that was installed about 5 min from my house. I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100? What gives?

Well you are very very lucky because most of the world don't have access to a bitcoin ATM this close to them. I mean 5 minutes from your house is just ridiculously easy to get bitcoins, it's probably eaiser than purchasing online even with a credit card or with your paypal balance to be completely honest because you'd need to go through all the verification etc.

The rates can be worse than actual big exchanges but i find them a lot better than localbitcoins sellers...

rajasumi3

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Bitcoins price is changing every second,thats why i would suggest you to buy bitcoins through online as it is better.Bitcoins atm according to me is kinda useful and many people get shocked like you when they buy through bitcoin atm.

Vaskiy

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Quote from: GreenBits on May 09, 2017, 11:24:36 PM

Quote from: MingLee on May 09, 2017, 10:56:53 PM

Quote from: emezh10 on May 09, 2017, 10:35:14 PM

Quote from: ConCoins on March 24, 2017, 12:09:13 AM

I just tried a new Bitcoin atm that was installed about 5 min from my house. I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100? What gives?

Great news that you use it at the right time but be careful in bitcoin atm you know that many atms are cheaters also your gonna get high fees when using a bitcoin atm i already see a youtuber get scam by a bitcoin atm by not paying a miner fees so it will be safe and not recommemded using a bitcoin atm. Surely when you exchange you bitcoin to cash youre gonna get a high fees 💰💰 but great news you buy a bitcoin at low price you already invested nicely.

To be fair to Bitcoin ATM operators, they aren't exactly a hugely popular service and they do have to maintain their physical machines, so I would almost expect for higher fees to be quite common among Bitcoin ATMs and their various counterparts. Does that mean they should be used? Not really, since you shouldn't be spending extra money to not really do anything to benefit anyone.

Have to agree. Every time I've used an ATM, I've paid from 8 to 10 percent. This is money; taking a 10% haircut before I even get to the exchange, sounds like a losing strategy. To be fair, they are convenient; but convenience isn't worth that much of a premium.

Fee will always be high than the exchange services. As quoted maintenance is one reason, as well the bot development needs to be done depending upon the location. This needs large funds to make it a popular service, because right now only very few ATM service is found around and few have decreased the number of implemented ATM's due to the reduced profit.

GreenBits

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Quote from: MingLee on May 09, 2017, 10:56:53 PM

Quote from: emezh10 on May 09, 2017, 10:35:14 PM

Quote from: ConCoins on March 24, 2017, 12:09:13 AM

I just tried a new Bitcoin atm that was installed about 5 min from my house. I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100? What gives?

Great news that you use it at the right time but be careful in bitcoin atm you know that many atms are cheaters also your gonna get high fees when using a bitcoin atm i already see a youtuber get scam by a bitcoin atm by not paying a miner fees so it will be safe and not recommemded using a bitcoin atm. Surely when you exchange you bitcoin to cash youre gonna get a high fees 💰💰 but great news you buy a bitcoin at low price you already invested nicely.

To be fair to Bitcoin ATM operators, they aren't exactly a hugely popular service and they do have to maintain their physical machines, so I would almost expect for higher fees to be quite common among Bitcoin ATMs and their various counterparts. Does that mean they should be used? Not really, since you shouldn't be spending extra money to not really do anything to benefit anyone.

Have to agree. Every time I've used an ATM, I've paid from 8 to 10 percent. This is money; taking a 10% haircut before I even get to the exchange, sounds like a losing strategy. To be fair, they are convenient; but convenience isn't worth that much of a premium.

MingLee

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Quote from: emezh10 on May 09, 2017, 10:35:14 PM

Quote from: ConCoins on March 24, 2017, 12:09:13 AM

I just tried a new Bitcoin atm that was installed about 5 min from my house. I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100? What gives?

Great news that you use it at the right time but be careful in bitcoin atm you know that many atms are cheaters also your gonna get high fees when using a bitcoin atm i already see a youtuber get scam by a bitcoin atm by not paying a miner fees so it will be safe and not recommemded using a bitcoin atm. Surely when you exchange you bitcoin to cash youre gonna get a high fees 💰💰 but great news you buy a bitcoin at low price you already invested nicely.

To be fair to Bitcoin ATM operators, they aren't exactly a hugely popular service and they do have to maintain their physical machines, so I would almost expect for higher fees to be quite common among Bitcoin ATMs and their various counterparts. Does that mean they should be used? Not really, since you shouldn't be spending extra money to not really do anything to benefit anyone.

SoulBargain

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Quote from: emezh10 on May 09, 2017, 10:35:14 PM

Quote from: ConCoins on March 24, 2017, 12:09:13 AM

I just tried a new Bitcoin atm that was installed about 5 min from my house. I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100? What gives?

Great news that you use it at the right time but be careful in bitcoin atm you know that many atms are cheaters also your gonna get high fees when using a bitcoin atm i already see a youtuber get scam by a bitcoin atm by not paying a miner fees so it will be safe and not recommemded using a bitcoin atm. Surely when you exchange you bitcoin to cash youre gonna get a high fees 💰💰 but great news you buy a bitcoin at low price you already invested nicely.

Yep. You should know first how much fee they charged and decide whether this is fair enough with you because if not then find another one. The common mistake is that people only knows and learns after they have committed the mistake but also there are times that it is the other way around.

Question123

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In my country Philippines they have also Bitcoin ATM and thats only one. In less than a minute a you can buy and sell bitcoin thats my friend told me. Ill never try to use that and I hope someday I can use also . But my friend told me if you see the price of buy and sell in Bitcoin ATM the price is very big difference its $150 more . So he told me must better to buy and sell in exchanges site because the difference price is near compared to Bitcoin ATM.

emezh10

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Quote from: ConCoins on March 24, 2017, 12:09:13 AM

I just tried a new Bitcoin atm that was installed about 5 min from my house. I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100? What gives?

Great news that you use it at the right time but be careful in bitcoin atm you know that many atms are cheaters also your gonna get high fees when using a bitcoin atm i already see a youtuber get scam by a bitcoin atm by not paying a miner fees so it will be safe and not recommemded using a bitcoin atm. Surely when you exchange you bitcoin to cash youre gonna get a high fees 💰💰 but great news you buy a bitcoin at low price you already invested nicely.

xiboothrezi

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If there is an ATM bitcoin it is helpful

grandy

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Quote from: roadbits on March 27, 2017, 06:04:02 AM

Quote from: robelneo on March 27, 2017, 12:12:45 AM

Quote from: ConCoins on March 24, 2017, 12:09:13 AM

I just tried a new Bitcoin atm that was installed about 5 min from my house. I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100? What gives?

Bitcoin is one of the most volatile commodities in the market today,it just happen that when you purchased it there was a price drop,but like all the other poster here,it will soon recover,try to check bitcoin price history for reference,I also experience that in my local exchangers so you should first and compare the current price in various exchange before buying.

Most reputed exchanges will give bit high margin to buy Bitcoin and less margin to sell your Bitcoin. But the new sites will give your good margin to buy and sell your coins because of their site promotions. But dealing with old exchangers is better transaction fee is bit high, but they are safe.

but to me i think the well amputated exchanges can give you quality service and as their income is more therefore they will give you more preference to you. and will give you good margin also.

roadbits

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Quote from: robelneo on March 27, 2017, 12:12:45 AM

Quote from: ConCoins on March 24, 2017, 12:09:13 AM

I just tried a new Bitcoin atm that was installed about 5 min from my house. I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100? What gives?

Bitcoin is one of the most volatile commodities in the market today,it just happen that when you purchased it there was a price drop,but like all the other poster here,it will soon recover,try to check bitcoin price history for reference,I also experience that in my local exchangers so you should first and compare the current price in various exchange before buying.

Most reputed exchanges will give bit high margin to buy Bitcoin and less margin to sell your Bitcoin. But the new sites will give your good margin to buy and sell your coins because of their site promotions. But dealing with old exchangers is better transaction fee is bit high, but they are safe.

Taki

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We'll I think it is the sane theory as with banks. The ATM is standing there not for free and surly the price for bitcoin is lower there than in real. This difference in the price is going to that company who installed the ATM, simple.

robelneo

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Quote from: ConCoins on March 24, 2017, 12:09:13 AM

I just tried a new Bitcoin atm that was installed about 5 min from my house. I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100? What gives?

Bitcoin is one of the most volatile commodities in the market today,it just happen that when you purchased it there was a price drop,but like all the other poster here,it will soon recover,try to check bitcoin price history for reference,I also experience that in my local exchangers so you should first and compare the current price in various exchange before buying.

OROBTC

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Quote from: asdalani on March 26, 2017, 07:55:25 AM

Quote from: asuryan180 on March 25, 2017, 12:39:21 AM

Better to watch out buddy,the ATM's rates are often different-I don't know why,maybe they need time to get to the current rates,however that is not a good excuse to hold such a big margin-and this surely doesn't encourage more people to use them

Another thing to look out for is the card skimmers on those Bitcoin ATM's there's crooks that like to steal peoples Bitcoin for money. Bitcoin ATM's are quite easy to carry out from the places that they are in, since they all have money inside of them those ATM's could be a payday of $3,000 or so if they open up certain machines.
If you think Bitcoins fees are high then you have no idea about the people who have to pay a premium for their coins and not receive it after purchasing.

I have used six BTC ATMs in the past three years or so. ALL charged a fee from 8.5% - 15% (or so). Fees vary by owner of the ATM.

All the machines I used were for CA$H, so card-skimmers were not an issue. Also, I wait around for that first confirmation before I leave the store or coffee shop w/ the machine. No problems other than high fees, but as pointed out above, ATM owners invested money to buy the machines and have to maintain them.

Rajchandu

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ATM for bitcoin withdrawal is not getting more popularity just due to its increased fee compared to the exchange websites. Exchange websites provides the ease of access, that the amount directly gets credited to the respective account.The Bitcoin price is very volatile at the moment with people buying and selling in fear of a hard fork. So even if the price dropped by $200, it will correct it self over time.

asdalani

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Quote from: asuryan180 on March 25, 2017, 12:39:21 AM

Better to watch out buddy,the ATM's rates are often different-I don't know why,maybe they need time to get to the current rates,however that is not a good excuse to hold such a big margin-and this surely doesn't encourage more people to use them

Another thing to look out for is the card skimmers on those Bitcoin ATM's there's crooks that like to steal peoples Bitcoin for money. Bitcoin ATM's are quite easy to carry out from the places that they are in, since they all have money inside of them those ATM's could be a payday of $3,000 or so if they open up certain machines.
If you think Bitcoins fees are high then you have no idea about the people who have to pay a premium for their coins and not receive it after purchasing.

Topic: Bitcoin ATM - page 2. (Read 2939 times)