Can more ATM's increase adoption for Bitcoin? - page 9.

elisabetheva

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Quote from: jrrsparkles on September 24, 2019, 03:27:04 AM

For sure it will be helpful for the people to identify what is bitcoin but it is not the most convenient way to buy bitcoin when you are in need of huge amount of bitcoin or having fiat of other country.

I strongly agree with your opinion that this tool is not the best solution for buying and selling bitcoin, because there are many easier and accountable ways.
to introduce bitcoin is possible, but there might be a better and simpler way to explain it.

bering

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Having bitcoin ATM indeed will very helpful to the people because people can convert their bitcoin without register and provide their real identities but i'm not sure this is could be good solution to increase adoption for bitcoin because as far i know there is no significant effect for bitcoin development in the countries who have plenty of bitcoin ATM but based on my experience that several years ago there was several ATM available on my country buy eventually thosr became to lack of interest and people are more likely to convert their bitcoin through an regular exchange rather than using ATM

nienzer

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Quote from: phillymogul on September 22, 2019, 10:54:41 AM

It does makes you wonder who is the target audience?

I think the target audience are beginners who want to get Bitcoin for cash for sure.

shark1006

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Quote from: phillymogul on September 22, 2019, 10:33:02 AM

https://i.ibb.co/WBgt52n/bitcoin-atm-vietnam.jpg

We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah?

I do not use Bitcoin ATMs, I find it dangerous to use physical replenishment. Better use the services of an exchange or online wallet

cheezcarls

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I did made a transaction in a Bitcoin ATM before in a Singapore mall. I do believe that these Bitcoin or cryptocurrency ATMs are regulated. For now, we are still very far away from massive adoption even with the rise of Bitcoin ATMs worldwide.

But not a bad start either too, it’s just that people need to be aware about Bitcoin. It only has little impact right now, as most people would prefer cash than paying in crypto. The only way for people to finally shift into Bitcoin is by keep educating them about the real use cases and not focusing on the negative news being published by the media.

romero121

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Quote from: boris2470 on September 25, 2019, 02:37:32 AM

Quote from: phillymogul on September 22, 2019, 10:33:02 AM

We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah?

I have never used a Bitcoin ATM to buy coins. I know there is a more inflated BTC price than on the exchange. However, for regions like Venezuela, Argentina, Africa, this is a necessary way to buy BTC.

Buying bitcoin through ATMs costs high than buying through an exchange. This is all because of the implementation cost and other regular service charges that needs to be paid to render good service. These were collected out of the transaction cost, and countries like Venezuela are in hard economic crisis. Implementing ATMs will help them get an alternate way to secure themselves and this could increase the usage and adoption level.

shoreno

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why almost any bitcoin atm's that i see are seem to be dusty or look old ? and also they are only being placed on a not orgainzed area ? but i know not all are doing like that but seeing some that are only being treated like this always breaks my heart . sorry for emoting but by the way to answer the topic , i dont think that btc atm's can increase adoption . its useless if there are btc atm's but people dont have a cash to afford a btc although this atm can bring convinience which is still helpful afterall .

boris2470

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Quote from: phillymogul on September 22, 2019, 10:33:02 AM

We know consumers love ATM's and the convenience. Would you buy Bitcoin at ATM or nah?

I have never used a Bitcoin ATM to buy coins. I know there is a more inflated BTC price than on the exchange. However, for regions like Venezuela, Argentina, Africa, this is a necessary way to buy BTC.

jrrsparkles

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For sure it will be helpful for the people to identify what is bitcoin but it is not the most convenient way to buy bitcoin when you are in need of huge amount of bitcoin or having fiat of other country.

bitbunnny

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I'm not sure. At the begininig Bitcoin ATMs were very popular and in short period of time couple of them emerged in my country.
But these days people have more ways to get Bitcoins not to get out of the house so I think ATMs are losing popularity. I'm not saying we don't need them but I don't think they might influence addption significantly.

EdvinZ

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Certainly, the more there will be Bitcoin ATMs in the world, the greater will be the distribution of digital currency. It’s more convenient for some people to buy something offline. In addition, the ATM itself, installed in a crowded place, is a direct advertisement of Bitcoin.

CryptoBry

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Generally speaking, Bitcoin ATMs can be helping a lot towards more adoption and usage of cryptocurrency. Plus, ATMs can be good advertising tool for the said coin and cryptocurrency as a whole. Now, I am not saying that we should only rely on this tool but certainly there is no question these machines can be contributing as we are here talking about fast and easy access to either buy or convert Bitcoin. I am even hoping that here in my country there can be more additional of these machines especially in bigger cities where the populations are more than a million.

Reid

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Out of curiosity then Yes.
I have never tried one and I will be willing to sacrifice a minimum amount to deposit if ever there is just so to try this out.
But, with the second one, I doubt I will do it again specially if there is a fee which is higher than any exchange where you could also deposit at a better price difference.
We know there is a huge difference already with the buy and sell amount and this might also have the same thing with just a different number and could be expensive.

rdbase

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They certainly can promote adoption! This is from a post I made a while ago with a crypto atm located in the middle of nowhere in the jungle of central america! Cool

Quote from: rdbase on June 12, 2019, 07:35:17 PM

This has to be the most remote location for one of these atms to be located in the middle of the jungle of central america. Grin

https://www.reddit.com/r/mildlyinteresting/comments/807wnk/this_bitcoin_atm_in_the_middle_of_the_costa_rican
But I can still see people using it since it is a tourist destination and if they can get it powered by electricity then it has to be near some sort of resort.
Dont know if it is on the atm locator as some users have mentioned with most of them being on a map to find where the closest one to you might be.

meanwords

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ATMs does increase adoption and helps advertise Bitcoin to the public. To be honest, I wouldn't use ATM because anything could happen. I don't want people knowing that I have cryptocurrency in me. There's a lot of news and things going on around that cryptocurrency owners are getting kidnap or something like that. Using ATM risk my security.

Nonetheless, it helps with the adoption in my opinion.

leowonderful

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I've actually used several of these over the years I've been active using Bitcoin. Fees can be somewhat high for selling and buying, though, so watch out. CoinATMRadar shows fees for the kiosks and ATMs around you, and they can vary from something like 6% to even 13-15%. Many of the ATMs I've spotted in the U.S don't require any sort of verification for smaller sums of money and then perhaps some form of I.D over that amount. Pretty convenient if you want some Bitcoin quick, but you don't want to go through KYC.

I do believe these are increasing adoption for Bitcoin at least somewhat, but likely not by much.

bright4mech

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This a very good one, by sharing the ATM Machine picture, and that we create many people into crypto, by investing trading etc,
Therefore bitcoin is a digital asset, nothing much to say is that bitcoin is real money in a digital form.

gentlemand

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Quote from: DarkDays on September 22, 2019, 02:31:27 PM

However, I don't think that these are the way forward. We need integration with a major chain or retailer in order to truly spur adoption.

In fact, if we could get a huge retailer providing a discount for paying in Bitcoin, that would probably do a huge amount for adoption.

It would have to be a HUGE discount to spur otherwise indifferent people into taking the plunge, and even then one bad morning's market action and whatever discount they thought they were getting can be wiped out and then some before they spend it.

I'll guess most retailers are on such thin margins there's no way they could afford to offer anything that would compel people to look deeper.

Retail is a dead end. If it ever does happen it's going to be the final thing to fall into place, not one of the first. People who already own it don't want to spend it. People who are yet to arrive won't have the slightest interest in buying something so they can buy something else.

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Quote from: DarkDays on September 22, 2019, 02:31:27 PM

There are plenty of Bitcoin ATMs lying around. Practically every major city has several Bitcoin ATMs in quite convenient locations.

However, I don't think that these are the way forward. We need integration with a major chain or retailer in order to truly spur adoption.

In fact, if we could get a huge retailer providing a discount for paying in Bitcoin, that would probably do a huge amount for adoption.

When a bank embraces bitcoin and becomes payment processor or exchange, and adds bitcoin to their regular ATMs, then they may become more attractive. In the meantime, internet is the best source of bitcoin.

The other way is when the exchange becomes bank like, and starts handling fiat. But there is so much regulation, so i don't know if the likes of Coinbase could set up ATMs. Thing is an ATM is a type of exchange from to fiat, and the fiat handlers are those banks.

I see little point for Bitcoin ATMs at the moment, again, maybe if the banks finally embrace bitcoin, which i think will start happening sooner or later anyway.

FlamingFingers

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More bitcoin ATM will go a long way in hasten the adoption of bitcoin. If only this can be put in place, more points of acceptance will be awesome, I believe that all this is gonna be a talk by in future because we are still early stage and bitcoin still got a long way to go

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