Bitcoin/ Crypto ATM's - page 3. | Bitcointalksearch.org

Jaycee99

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Quote from: VXII on August 29, 2018, 01:04:12 PM

Do people actually use these machines or is it something noone is really interested in? Please share your opinions.

About this ATM/crypto ATM which you can buy and widraw a money out it that came from bitcoin to foriegn money.

This bitcoin ATM is unique in our country which 2 ATM are standing here in the philipines in the city of Manila. Still I would say that even if this is 2 bitcoin is papular but not that much because for me I would see half the people in the Philippines here are not interested. Even if people in the country of mine know all about bitcoin andwill not say no more that bitcoin is a scam.
PS
Also you can also widraw or buy bitcoin at our 7/11 store here in the Philippines ang that is great but it has fee which is small.

shivansps

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Quote from: shield132 on August 30, 2018, 04:10:56 PM

Quote from: sunsilk on August 30, 2018, 05:52:05 AM

Quote from: bob123 on August 30, 2018, 04:40:39 AM

Quote from: sunsilk on August 29, 2018, 05:18:57 PM

How can people aren't interested with bitcoin ATM?

Well, the fees mostly are pretty high and the maximum tradeable amount is low.
It is much easier / more convenient to register at an exchange and buy/sell there.

Yeah the fees are pretty high but that's just it, bitcoin ATM providers are companies that has to earn as well for providing this type of service and I'm sure that every coiner will understand the fees.

This is just a case that if you ever want to use it and experience on how it is integrated in real life just like our bank accounts.

Can't see any interest in bitcoin ATM, especially when rates are so out from reality. How much do they have to earn? Unlimited? They have worst prices on bitcoin exchange in this unvierse, you lose so much if you use them that it worth to stay without money for some time or get XAPO or any other debit card and exchange/withdraw cheaply. Personally I am amazed but number of Bitcoin ATMs worldwide are nearly 4000 if not more.

I agree with you partially, I don't see any other situation to use ATM to buy crypto just for the normies, newbies, etc, the people who want to get "some bitcoin" just to have it, because it's cool and everyone is talking about it become digital gold or something like that. I wouldn't use crypto ATM because I know how to do it with lesser fees and using just web exchanges or app.

shield132

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Quote from: sunsilk on August 30, 2018, 05:52:05 AM

Quote from: bob123 on August 30, 2018, 04:40:39 AM

Quote from: sunsilk on August 29, 2018, 05:18:57 PM

How can people aren't interested with bitcoin ATM?

Well, the fees mostly are pretty high and the maximum tradeable amount is low.
It is much easier / more convenient to register at an exchange and buy/sell there.

Yeah the fees are pretty high but that's just it, bitcoin ATM providers are companies that has to earn as well for providing this type of service and I'm sure that every coiner will understand the fees.

This is just a case that if you ever want to use it and experience on how it is integrated in real life just like our bank accounts.

Can't see any interest in bitcoin ATM, especially when rates are so out from reality. How much do they have to earn? Unlimited? They have worst prices on bitcoin exchange in this unvierse, you lose so much if you use them that it worth to stay without money for some time or get XAPO or any other debit card and exchange/withdraw cheaply. Personally I am amazed but number of Bitcoin ATMs worldwide are nearly 4000 if not more.

VXII

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Thank you all for the input.

From my impression so far these things are working better in some countries than others, probably related to the level of economy and general trust within that country. A transparent fee structure should be mandatory, otherwise these machines are no less than a scam and most people would not use them again.

LTU_btc

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I've never used an Bitcoin ATM. First reason why - there are no Bitcoin ATM in my location.
Secondly, I don't see many reasons to use it. Their fees are high, trading rates aren't very competetive, this is why I would prefer to use common Bitcoin/crypto exchange. But probably I would try Bitcoin ATM just for curiosity.

Samarkand

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Quote from: sunsilk on August 30, 2018, 05:52:05 AM

...
I'm sure that every coiner will understand the fees.
...

I´m not so sure about this. Most Bitcoin ATMs that I have seen
are not exactly transparent about the fees that they charge.
Instead of displaying in red letters that you are paying a 6 %
fee to cover the costs of the operator and the BTC transaction, they
simply give you a worse rate that includes the fee.
By doing this, a newcomer may be completely unaware that he
is getting screwed by an uncompetitive rate.

Professional buyers surely don´t use these ATMs, because why would
you want to pay a 6 % premium when you can buy Bitcoin at an exchange
like Bitstamp for 0.25 % in fees.

sunsilk

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Quote from: bob123 on August 30, 2018, 04:40:39 AM

Quote from: sunsilk on August 29, 2018, 05:18:57 PM

How can people aren't interested with bitcoin ATM?

Well, the fees mostly are pretty high and the maximum tradeable amount is low.
It is much easier / more convenient to register at an exchange and buy/sell there.

Yeah the fees are pretty high but that's just it, bitcoin ATM providers are companies that has to earn as well for providing this type of service and I'm sure that every coiner will understand the fees.

This is just a case that if you ever want to use it and experience on how it is integrated in real life just like our bank accounts.

bob123

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Quote from: sunsilk on August 29, 2018, 05:18:57 PM

How can people aren't interested with bitcoin ATM?

Well, the fees mostly are pretty high and the maximum tradeable amount is low.
It is much easier / more convenient to register at an exchange and buy/sell there.

Quote from: ?? on ??

Does all bank do that? Because as far as I know that there are limited ATM machines or banks accept it but I hope this will be applicable for everyone banks that they should consider cryptocurrency

No. They are not from banks. And these ATM's are not related to banks in any way.
Private businesses/institutions/people buy or build them and deploy them at local places. That's a business model.

harizen

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Quote from: VXII on August 29, 2018, 01:04:12 PM

Do people actually use these machines or is it something noone is really interested in? Please share your opinions.

Depends on the situation.

Here in my country, there was an installed Bitcoin ATM machine few blocks away near in my former workplace wherein everyday I used to get passed on that tower where the ATM was located. In my months or nearly years of seeing that machine everyday, I never see any single person using it. Maybe I just don't have a chance to see it but it's impossible that whenever I passes there, no one is using. So my conclusion is, there are only rare usage of that machine.

I just don't know if that machine is still there as I changed my job several months ago so I don't have a chance now to see that machine.

sunsilk

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Yes people that are close to these ATM's are actually using it. Having a nearby ATM is very helpful if you need cash or you have spare money and you wanted to buy if you are an investor.

How can people aren't interested with bitcoin ATM? it's very interesting to have this on your locale and this only means that adoption in your locale is increasing.

If you want to know if there's one nearby you.
https://coinatmradar.com/

Yaunfitda

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Quote from: VXII on August 29, 2018, 01:04:12 PM

Do people actually use these machines or is it something noone is really interested in? Please share your opinions.

https://www.statista.com/statistics/343127/number-bitcoin-atms/

I'm assuming based on the statistics on that website, people are using ATM's because its growing year-to-year. At a business standpoint, why would someone put a ATM when people are not going to used it?

So for me, people are actually using it but we might not have the statistics. And as crypto adoption grows overtime, perhaps people will find convenience using Bitcoin ATM just like regular fiat ATM in my opinion.

VXII

newbie

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Do people actually use these machines or is it something noone is really interested in? Please share your opinions.

Topic: Bitcoin/ Crypto ATM's - page 3. (Read 10496 times)