Well, it will depends on how much the rate and i haven't seen one yet hopefully soon so i can see for myself. And also, the fee for if its covered by the machine or the person.
And having this machine all over the world will most likely to be recognize more but some countries might need a implementation and how government wikl resct to this since it is decentralized and can be used for illegal transaction.
Topic: Can more ATM's increase adoption for Bitcoin? - page 4. (Read 2092 times)
I have used a number of BTMs in the USA, including fairly recently. I have noticed that ALL the machines I have looked at very recently now ALL demand at least a cell number (SMS text message) and inputting a name, even for low amounts of BTC/$.
Can't you use an email address or a prepaid SIM card since those don't require personal information?
Last time I was in the UK I found some machines in London that did not ask for ID or cell phone numbers. Comments from European residents would be nice, as then we could then know if the era of buying BTC anonymously via BTMs is now over...
Some have KYC here, some don't. In Poland none do, there's just a per transaction limit close to the legal limit of 15k EUR.
...
So far, the increase in BTMs (BTC ATMs) has not really led to use of Bitcoin as far as I can tell. Reasons might include:
-- difficulty among new users to use the machines and/or deal with addresses and wallets
-- worry that the machine might eat their money and not send the BTC...
-- high costs/transaction fees
-- location of machines not being ideal (many above have mentioned that there is not even ONE machine close to them)
* * *
I have used a number of BTMs in the USA, including fairly recently. I have noticed that ALL the machines I have looked at very recently now ALL demand at least a cell number (SMS text message) and inputting a name, even for low amounts of BTC/$.
My *guess* is that KYC/AML in the USA has now reached the point where you cannot buy BTC anonymously any more, which is a damn shame.
Last time I was in the UK I found some machines in London that did not ask for ID or cell phone numbers. Comments from European residents would be nice, as then we could then know if the era of buying BTC anonymously via BTMs is now over...
So far, the increase in BTMs (BTC ATMs) has not really led to use of Bitcoin as far as I can tell. Reasons might include:
-- difficulty among new users to use the machines and/or deal with addresses and wallets
-- worry that the machine might eat their money and not send the BTC...
-- high costs/transaction fees
-- location of machines not being ideal (many above have mentioned that there is not even ONE machine close to them)
* * *
I have used a number of BTMs in the USA, including fairly recently. I have noticed that ALL the machines I have looked at very recently now ALL demand at least a cell number (SMS text message) and inputting a name, even for low amounts of BTC/$.
My *guess* is that KYC/AML in the USA has now reached the point where you cannot buy BTC anonymously any more, which is a damn shame.
Last time I was in the UK I found some machines in London that did not ask for ID or cell phone numbers. Comments from European residents would be nice, as then we could then know if the era of buying BTC anonymously via BTMs is now over...
I haven't seen any ATM yet that offers Bitcoin around my place so I'm having mixed emotions regarding if I'd prefer to buy a Bitcoin using ATM services. But if Bitcoin ATM has the same or even almost the same uses such as banks do, I'd probably use it. It' kinda difficult to use a service that is half supported by the government and is always tagged as a scam. I know in my self that cryptocurrencies especially Bitcoin has been here for years now and compare to its value years ago, it is making its improvement somehow.
I think yes, because more and more people will recognize and become interested in cryptocurrency. Most likely it will push a new wave of people.
I would if someday i really needs some bitcoins, the fees on bitcoin ATM is a bit high, so bitcoin ATM is like my last option lol.
It's probably going to be the "initial" cost of fees. But once the "business" runs smoothly, the fee could be reduced quite handsomely.
This proves that more people and countries are accepting bitcoin as a currency. and in my opinion the presence of this ATM does increase the adoption of bitcoin. but unfortunately the cost of making transactions at ATMs is more expensive. so that the majority of bitcoin users prefer to do p2p transactions because they are cheaper.
It's not that more people are accepting Bitcoin as a currency ('cause its already a currency), but rather "businesses" are adopting Bitcoin as a business. Not directly increases the adoption but rather spread awareness and convenience. Bitcoin ATM can be considered as p2p transaction, imo.
I believe so, at least it give more exposure to bitcoin and more people know about bitcoin. For example in my country, there are only 2 bitcoin ATMs in my country and almost all people around that area know bitcoins.
I would if someday i really needs some bitcoins, the fees on bitcoin ATM is a bit high, so bitcoin ATM is like my last option lol.
~slip~
We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah?
We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah?
I would if someday i really needs some bitcoins, the fees on bitcoin ATM is a bit high, so bitcoin ATM is like my last option lol.
We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah?
I have never bought bitcoin at an ATM because in my country there is no bitcoin ATM. but according to CoinATMradar the number of bitcoin ATMs is always increasing. so far the number of bitcoin ATMs worldwide has reached 5588. This proves that more people and countries are accepting bitcoin as a currency. and in my opinion the presence of this ATM does increase the adoption of bitcoin. but unfortunately the cost of making transactions at ATMs is more expensive. so that the majority of bitcoin users prefer to do p2p transactions because they are cheaper.
They might increase adoption as they get people notice the fancier ATMs and, out of curiosity, they might check what they are for. The biggest problem as of now is, imo, learning how to use BTC and that it's pretty hard to exchange BTC for the local fiat currency. As soon as these get fixed, it's gonna be easy for people to join the blockchain tech. An awfully big number of people are afraid to use cryptocurrencies due to the fear of losing their money. It's like moving to China without knowing the language. You'll get lost at one point.
Maybe can increase adoption for bitcoin if have many ATM's bitcoin, maybe just one way how to make bitcoin legal transaction with prepare first bitcoin ATM and make seriously respond from government about bitcoin become adoption, the government giving solution if have bitcoin ATM because many people can make cash out with bitcoin ATM.
Yup the more ATMs the more people use cryptocurrencies. the problem that people currently face is the difficulty of taking cash from their investments,with the lack of ATMs currently installed, it becomes an obstacle for crypto users. because most people cash their currency using third parties from banks. if provided an ATM will provide convenience and extraordinary impact on the community. although currently the use of cryptocurrencies in various countries is still limited.
Maybe can increase adoption for bitcoin if have many ATM's bitcoin, maybe just one way how to make bitcoin legal transaction with prepare first bitcoin ATM and make seriously respond from government about bitcoin become adoption, the government giving solution if have bitcoin ATM because many people can make cash out with bitcoin ATM.
in my country there some atm bitcoin but i think its not give effect for people to use it. and this atm just for user domestic or foreign. many obstacles why they are not using atm bitcoin, the simple is they must learn from beginning. bitcoin adoption relate to, whether the government accepts bitcoin or not.
Recently, 7-11 announced that all their branches here in my country, people can now easily buy Bitcoin through an ATM like machine. Whats funny is Yes we can buy Bitcoin in any of their branches now here the Philippines but we cant use it buy items from any of their stores. Same with the ATM installed in a commercial district here in the Philippines, its the first Bitcoin ATM, but only a handful of stores or establishments are accepting Bitcoins around it.
It only shows that the presence of Bitcoin ATM doesn't mean there will be more stores who will accept it, even if theres no Bitcoin ATM, if an establishment wants to accept Bitcoin, they can do that. I think it can only increase awareness of Bitcoin.
It only shows that the presence of Bitcoin ATM doesn't mean there will be more stores who will accept it, even if theres no Bitcoin ATM, if an establishment wants to accept Bitcoin, they can do that. I think it can only increase awareness of Bitcoin.
In my country there are only 2 Bitcoin ATM at the moment but I expect it to increase by next coming year througout the cities since one of the largest bank here are already on the process of adding virtual currency ATM's, as far as I remember they've a made a few test and just waiting for the approval of central bank.
Increasing Bitcoin ATM's will surely gain attraction since most of the employees here get their salary via ATM so if these Bitcoin ATM's is spread along with the current ATM's then these people will be aware of what Bitcoin is.
Increasing Bitcoin ATM's will surely gain attraction since most of the employees here get their salary via ATM so if these Bitcoin ATM's is spread along with the current ATM's then these people will be aware of what Bitcoin is.
More ATM's will do only good for Bitcoin adoption. However ATM's needs to be spread in that country in more cities besides the capital as that will reduce a lot the number of adopters , more ATM's in more cities will bring more adopters. So far in my country , we have over 15 bitcoin ATM's spread in 5 major cities and Romania is not a big country to be honest and yet the adoption is here and we are buying, also we can buy Bitcoin/Ethereum for any grocery store which is perfect.
I wouldn't choose to buy Bitcoin from ATMs, because of huge fees and especially because it is more convenient to buy it online, instead of going to an ATM. But I believe it has a good effect on popularization of cryptocurrency as people will start to ask questions and wonder what it is. Not adoption, but still it is important.
People go to ATM because it is easier for them to buy from an ATM without going through any lengthy process. They can easily buy bitcoin on the go. Again buying online takes a lot of time. You need to go through a lot of paper works and verification stuffs. Sometimes your bank account even rejects the transaction. The wait time vs the high fee counter balances the pros and cons. But, some atms uses very low miner fee and seen people complaining about very slow confirmation time due to the low fee. 
I wouldn't choose to buy Bitcoin from ATMs, because of huge fees and especially because it is more convenient to buy it online, instead of going to an ATM. But I believe it has a good effect on popularization of cryptocurrency as people will start to ask questions and wonder what it is. Not adoption, but still it is important.
I think this as well, bitcoin ATMs can help spread awareness since people will notice this strange looking ATM and they will probably ask what it is, but from that point it will be up to each person to decide what to do with that information, most will never think about it again, while some will try to find more information about bitcoin and what it is, but very few will see the potential of bitcoin, but there will be a few that will and will join this market and most likely this forum as well. 
ATM for bitcoin, i think that is great!
People will curious if they see it. What is bitcoin atleast.
But the problem is, to place ATM is not cheap. There is some cost like electricity, tax, fees. So if we buy Bitcoin with ATM, i know will expensive. That is bad... if you take advantage to make profit. Also if placed free outside maybe will get broken by bad people.
People will curious if they see it. What is bitcoin atleast.
But the problem is, to place ATM is not cheap. There is some cost like electricity, tax, fees. So if we buy Bitcoin with ATM, i know will expensive. That is bad... if you take advantage to make profit. Also if placed free outside maybe will get broken by bad people.
I think ATMs will continue to spread in various countries in the future, with ATMs, all buyers and sellers will have easier access. With easy access to where to buy bitcoin, adobtion will also continue to increase. This will also trigger the price of bitcoin to be higher.
Jump to: