Crypto ATM - Would you use them? - page 3.

lazanas

newbie

Activity: 3

Merit: 0

Bitcoin ATM fees are incredibly high. I have seen prices ranging from 10 to 30%!! Angry

(at least where I checked) The only thing they are good for is anonymity. Owners of those ATM machines makes huge profit. Stay away from them.
EDIT: check out this BTC ATM map – https://coinatmradar.com/ if you are going to use one, be very careful and check the fees!

ylnar123

member

Activity: 350

Merit: 10

Quote from: sammyh on January 25, 2018, 01:04:59 PM

Lately, I have been seeing many crypto ATM that converts cash into crypto. I am having a tough time understanding the logic behind such machines. I mean, why wouldn't I just go to an exchange and buy crypto? I see no added benefit other than the rather high fees being charged.

Would like to know if any of you have used such an ATM? If so, why?

If you have never used such an ATM, under what circumstances would you consider using it?

If this ATM requires only your wallet address then it is a good idea because it anonymity remains for the purpose of cryptocurrency. If you want to exchange your fiat to cryptocurrency using ATM and just insert the cash in the machine then good. But if it requires personal information and cards be produced to use ATM, then thank you, I better use crypto exchange than using ATM which debanks my privacy.

tegarp90

full member

Activity: 546

Merit: 100

it depends how much fee if we cash out the money with this ATM, if the fee just as same as we transfer bitcoin to a different wallet, i would not use it.
better we sell it first to fiat and then we cash out in paypal or others

boy130

sr. member

Activity: 616

Merit: 263

To be honest, whilst I do see that crypto ATMs may become a thing of necessity in the future, I really don't think there is much of a market for them, except perhaps in a few specific regions. However, as cryptocurrency becomes increasingly widespread, and merchant acceptance increases, we may find a society where pretty much everywhere accepts crypto payment. I think these ATM companies are just getting their foot in the door, so that when crypto really takes off, they'll have the first mover advantage. Still wondering how they're going to get around the KYC issues by distributing crypto from an ATM, plus the risks of chargebacks. Seems like a goldmine for scammers using stolen or duplicated credit cards.

royalbittinz

newbie

Activity: 382

Merit: 0

[/quote]

I think if you are travelling around and don't want to use credit cards (with all the fees they charge when you use them outside the country), these ATMs are handy. You stock up with bitcoin before you go, and then use the ATM to convert to cash at your destination.
[/quote]

This come in handle, especially when I have enough money in my crypto account.

MattMurdockxDD

newbie

Activity: 13

Merit: 0

Quote from: sammyh on January 25, 2018, 01:04:59 PM

Lately, I have been seeing many crypto ATM that converts cash into crypto. I am having a tough time understanding the logic behind such machines. I mean, why wouldn't I just go to an exchange and buy crypto? I see no added benefit other than the rather high fees being charged.

Would like to know if any of you have used such an ATM? If so, why?

If you have never used such an ATM, under what circumstances would you consider using it?

Have you checked the exchange rate and the transaction fees for crypto ATM's? If they would offer faster transaction with lesser fees then I think it is just logical to use them instead of exchanges. Plus the fact that crypto ATM's offers convenience in getting fiat money. So with every angle considered I think crypto ATM's would be better than the traditional exchanges.

Cryptorianer

newbie

Activity: 12

Merit: 0

Definitely yes! In a few years when cryptocurrencies are less volatile Wink

marjon

member

Activity: 350

Merit: 10

Why can't give a try if we're passionate enough tackling things related to crypto. I would really love to discover and step on to exactly know limitations of Bitcoin regardless of its uncertainty.

kiendepzai24

newbie

Activity: 45

Merit: 0

Quote from: bitorama on February 08, 2018, 01:18:51 PM

I never see a crypto ATM, if I found one, surely I would try it

Yea, i want try too, why not?

Carlsen

hero member

Activity: 910

Merit: 501

A few years ago bitcoins were hard to get so I was thinking about using one of those things.
Unfortunatelly the next one in my area was a few hundred miles away, so I never made it there.
But the difficulty in getting bitcoins, that has changed.
Buying bitcoin online is really no problem anymore, I would not use an ATM today.
And I suppose many others think the same way. So I wonder how profitabe a bitcoin ATM can be these days especially when I think about the fees they demand.

mdead

newbie

Activity: 25

Merit: 0

If I need I have one of those atm's I will use them to buy crypto. Because there is no other way to buy crypto directly from website from my country.
So I will use them for buying crypto if its available to me.
Its a good move for crypto world.

Anewor

newbie

Activity: 98

Merit: 0

Quote from: sammyh on January 25, 2018, 01:04:59 PM

Lately, I have been seeing many crypto ATM that converts cash into crypto. I am having a tough time understanding the logic behind such machines. I mean, why wouldn't I just go to an exchange and buy crypto? I see no added benefit other than the rather high fees being charged.

Would like to know if any of you have used such an ATM? If so, why?

If you have never used such an ATM, under what circumstances would you consider using it?

There is not much of a difference between a crypto ATM and a real ATM. It's just another version of money in digital form. The records you see in the ATM is also money in digital form, except that it is yet to be converted to the common currency before, it can be cashed out directly unlike the real money. High fees might not be a great question for the ones who would want to invest in bitcoins. This is what they love and what they want to do to gain profit. And for most of the time it was also proven effective as an investment.

Don Pedro Dinero

legendary

Activity: 1358

Merit: 1565

The first decentralized crypto betting platform

I wouldn’t use them to buy because they have very high fees. I’d prefer sell bitcoin using those ATMs but in my city they don’t have the sell option, if they did I would try to sell some bitcoin for instant cash,

Nerman

full member

Activity: 364

Merit: 107

Yes, if i need the money. It will be very useful if you are on vacation and got short. Instead of withdraw using your bank card then you can use your bitcoin instead because international transaction using your credit/debit card is actually expensive.

zarados

full member

Activity: 364

Merit: 130

Quote from: sammyh on January 25, 2018, 01:04:59 PM

Lately, I have been seeing many crypto ATM that converts cash into crypto. I am having a tough time understanding the logic behind such machines. I mean, why wouldn't I just go to an exchange and buy crypto? I see no added benefit other than the rather high fees being charged.

Would like to know if any of you have used such an ATM? If so, why?

If you have never used such an ATM, under what circumstances would you consider using it?

Some countries that have legalized bitcoin as a means of payment or a legitimate transaction already require this tool in order to facilitate its users in the purchase transaction cryptocurrency. Another case for countries that have not issued permission to cryptocurrency and even claim to not support the use of cryptocurrency in their country. If there is a crypto atm in a country like this, I'm sure the machine will not make a significant change to the public transactions.

CryptoBeefy

full member

Activity: 378

Merit: 100

If it was the other way around so you use your cryptocurrency to exchange for Fiat, I can see that being more popular. Most retail outlets don't accept crypto so it would give you an opportunity to convert and spend.

Marileno

full member

Activity: 214

Merit: 101

✔ Crypto portfolio | ✔ Telegram/APP

I love the concept and would use them for sure, provided the security measures were in place to protect us and that cost comes WAYYYY down. Right now i am not convinced either of these issues are close to being dealt with. Too early.

J Gambler

hero member

Activity: 910

Merit: 500

Quote from: sammyh on January 25, 2018, 01:04:59 PM

Lately, I have been seeing many crypto ATM that converts cash into crypto. I am having a tough time understanding the logic behind such machines. I mean, why wouldn't I just go to an exchange and buy crypto? I see no added benefit other than the rather high fees being charged.

Would like to know if any of you have used such an ATM? If so, why?

If you have never used such an ATM, under what circumstances would you consider using it?

Well, I think I would. It would be a much more easier transaction for me if I could instantly turn my cryptocurrency or my bitcoin to cash just by withdrawing it on a cryptocurrency atm. This would be a major breakthrough if this happens because now, transaction costs can be reduced and people will have a much more easier access in changing their digital money to paper money and they can buy the things they are intended to buy

bitfocus

member

Activity: 532

Merit: 15

People will get used to with crypto ATMs and such step will help Bitcoin and other Cryptos to gain popularity and acceptance fast. Yes, I would use one.

tatnM

member

Activity: 434

Merit: 10

Quote from: sammyh on January 25, 2018, 01:04:59 PM

Lately, I have been seeing many crypto ATM that converts cash into crypto. I am having a tough time understanding the logic behind such machines. I mean, why wouldn't I just go to an exchange and buy crypto? I see no added benefit other than the rather high fees being charged.

Would like to know if any of you have used such an ATM? If so, why?

If you have never used such an ATM, under what circumstances would you consider using it?

This is just the beginning. Over time, they will be even larger and the range of services is also greater. The commission will gradually fall, everything goes to ensure that the crypt will drive out the Fiat!

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