Topic: Finally used a bitcoin ATM successfully! - page 2. (Read 721 times)
I'm glad to hear that BTC ATM experience can be simple, but the fees are killing me! Paying $50 with $10 of those going on fees - that's just crazy 20% fees there. And I thought that around 10% in fees was common for ATMs but still too much. I agree that the fees should get reasonable for more people to use such ATMs. I usually buy BTC online on local exchange websites and spend about 5% on all the fees with getting my fiat when I'm selling BTC in about 20 minutes (sometimes up to an hour). But even this is quite a significant fee (at least, in my country) because transfers in fiat usually involve around 1-2% in fees, not 5% or 10%... And this means that Bitcoin kind of loses to fiat transactions here which doesn't make it attractive to newbies.
Hey The Pharmacist, congrats on buying an awsome bike, making your first purchase of bitcoin via ATM.
I'm interesting to know about this black circle object above the screen. Seems like a camera, 100% sure of that. This means your were taken picture/recorded. Does it means your personal info now is held come where? Can it be possible now to match your phone number (you got an sms) with your face and reveal your identity to security service ?
I'm interesting to know about this black circle object above the screen. Seems like a camera, 100% sure of that. This means your were taken picture/recorded. Does it means your personal info now is held come where? Can it be possible now to match your phone number (you got an sms) with your face and reveal your identity to security service ?
Thank you for sharing your experience using Bitcoin ATM, unfortunately in my place there is no Bitcoin ATM yet. I always hope to
feel using Bitcoin ATM too, even though the fees is expensive I will still try it. Most importantly I can feel directly how it feels
a transaction using Bitcoin ATM. Hopefully in my country there can be at least one Bitcoin ATM, so I can try it.
feel using Bitcoin ATM too, even though the fees is expensive I will still try it. Most importantly I can feel directly how it feels
a transaction using Bitcoin ATM. Hopefully in my country there can be at least one Bitcoin ATM, so I can try it.
Hey man good on you. Trying something new.. again after a negative experience and getting out for some exercise is a big win. I've never bothered with the ATM's and likely never will. There are probably 20 or so within a few hours of me in the larger cities I frequent. It's just the damn fees that are crazy. If the meetups I was attending fire up again as Covid dies down a bit - here anyways - the organizer has a fleet of them. He does offer us a discount to buy through it - or just to do some direct deals with him at a decent rate.
Truth be told though is I can generally purchase BTC from 2 reliable spots with my Fiat easier and with 0 fee or significantly less fee. The beauty of these machines are that you can in theory pay that premium to get your coins in an anonymous fashion. The SMS verification can throw a wrench in that but all the operators machines are different.
I am curious about 2 things though
1) Did you notice any scam prevention documentation on or around the machine??
2) Did you grab a pack of zigzags
Truth be told though is I can generally purchase BTC from 2 reliable spots with my Fiat easier and with 0 fee or significantly less fee. The beauty of these machines are that you can in theory pay that premium to get your coins in an anonymous fashion. The SMS verification can throw a wrench in that but all the operators machines are different.
I am curious about 2 things though
1) Did you notice any scam prevention documentation on or around the machine??
2) Did you grab a pack of zigzags
Well done to you! I have never seen a Bitcoin ATM up close, I live too far in the suburbs to make the very long journey to the city where I know there is one. Never actually also saw anyone I know use it so it's interesting to see. I doubt we will ever have a lot of business here (the local currency is cheap so $50 is a LOT of bills) and most people are afraid of ATMs that don't have guards:) Enjoy your life and e-bike OP:)
It doesn't matter if it's via ATM or via online purchasing.The giant transactions fees will always be a problem,when buying Bitcoins.
Traveling 15 miles and paying such transaction fee seems like a big sacrifice.
There aren't any bitcoin ATMs in the region where I live,but if there are some ATMs installed,I'll most likely refuse to use them.
I don't know what to say-congratulations for using that ATM or not congratulating you for wasting your time,money and energy.
Well, it's the experience that counts I suppose. He didn't deposit that much so I suppose the transaction fees aren't that much of a problem. But really, based on price for when I checked right now, can I assume that the fee for the transaction is around ~20%? Damn, Crypto-ATM's are really there to suck the money out of your wallets. Congrats on that 15mile travel that costed you around $20 I think? Traveling 15 miles and paying such transaction fee seems like a big sacrifice.
There aren't any bitcoin ATMs in the region where I live,but if there are some ATMs installed,I'll most likely refuse to use them.
I don't know what to say-congratulations for using that ATM or not congratulating you for wasting your time,money and energy.
It doesn't matter if it's via ATM or via online purchasing.The giant transactions fees will always be a problem,when buying Bitcoins.
Traveling 15 miles and paying such transaction fee seems like a big sacrifice.
There aren't any bitcoin ATMs in the region where I live,but if there are some ATMs installed,I'll most likely refuse to use them.
I don't know what to say-congratulations for using that ATM or not congratulating you for wasting your time,money and energy.
Traveling 15 miles and paying such transaction fee seems like a big sacrifice.
There aren't any bitcoin ATMs in the region where I live,but if there are some ATMs installed,I'll most likely refuse to use them.
I don't know what to say-congratulations for using that ATM or not congratulating you for wasting your time,money and energy.
I often saw OP's thread about buying this kind of bike through bitcoin, I am happy for you even though you haven't bought it directly from bitcoin.
I just want to share, we also have a convenient way of buying bitcoin. I guess we cannot really escape from huge convenience/transaction fee, or whatever the fee is when converting fiat to bitcoin. The process is like this:
You open up your mobile wallet app Coins ph.
Click cash in and type how much you like.
Show the receipt to 7/11.
pay it.
Then you have your bitcoins already. If they could make this process purely automated, it will be a big business to start with. More people are now engaging to bitcoin and having bitcoin ATM will give you tons of cash.
I just want to share, we also have a convenient way of buying bitcoin. I guess we cannot really escape from huge convenience/transaction fee, or whatever the fee is when converting fiat to bitcoin. The process is like this:
You open up your mobile wallet app Coins ph.
Click cash in and type how much you like.
Show the receipt to 7/11.
pay it.
Then you have your bitcoins already. If they could make this process purely automated, it will be a big business to start with. More people are now engaging to bitcoin and having bitcoin ATM will give you tons of cash.
Congrats Pharamacist for the e-bike and your first transaction. And 15 miles back and forth for bitcoin ATM on your first e-bike must totally be worth it. The fees of course is outrageous. Did they charge it just for transfer or some form of "convenience fee' is also billed on the receipt?
SOMEBODY GIVE THIS MAN A "STICKER"...@minerjones
That’s a bitcoin sticker on the top tube of my bike, BTW, which I think I got from minerjones. If I had more stickers I’d plaster them all over it.
SOMEBODY GIVE THIS MAN A "STICKER"...@minerjones
Congrats for your first BTM use. Feeling excited, but fortunately I don't have, such as an opportunity. I am curious about how you input USD into the machine (sorry if I am missing something on the OP). I mean, did you used a credit / debit card to buy bitcoin? And is there required credit/debit card if you want to sell your bitcoin?
Sadly fee is quite high, but at least there is an opportunity buy/sell your bitcoin in emergency case. Wondering you paid fee $10 to buy $50. Is it will increase if you buy $2K comparatively? Or its fixed fee for a single transaction? If its fixed for a single transaction, then likely it would reasonable when someone buy higher amount. Otherwise really fees are high.
Sadly fee is quite high, but at least there is an opportunity buy/sell your bitcoin in emergency case. Wondering you paid fee $10 to buy $50. Is it will increase if you buy $2K comparatively? Or its fixed fee for a single transaction? If its fixed for a single transaction, then likely it would reasonable when someone buy higher amount. Otherwise really fees are high.
I haven't tried any bitcoin ATM because we don't have that kind of ATM her in our Country, I think it would be a great thing if we also have that so whenever we want to buy something or we need money we can use our phone for pulling out our money and it would be great so we don't need to go for some remittance center and fall in line just to get our converted fiat money but I think it wouldn't be possible because our country banned the cryptocurrency but there are still many people who are using it for some online transaction and doing some crypto activities.
This story lacks full picture of your bike with its full description. Just joking
Anyway, great experience. Nice that you share it with others, because many don't have a chance not only to try to spend $50 just for a test; but even try to use such ATMs.
P.S. I have a Xiaomi m365 electric scooter, might gonna ride it to buy some crypto.
Thats true, many people wanted to try that ATM, it would be a great feeling for all of the bitcoin user. Hoping that we would have that kind of ATM in our country. Anyway, great experience. Nice that you share it with others, because many don't have a chance not only to try to spend $50 just for a test; but even try to use such ATMs.
P.S. I have a Xiaomi m365 electric scooter, might gonna ride it to buy some crypto.
This is a very good experience. I have first time listened the real and practical experience of using bitcoin ATM. This is surely one of the great advancement of bitcoin exploration. Though this access is very limited, it will help others to spread this opportunity all over the world. Very few countries have permitted such facilities and very few people are enjoying it still now. But we expect, one day we will be able to use Bitcoin for all types of transaction and this facility will be available for us.
I got a bike too and willing to pedal a mile long road to test this out if we have it here haha. Now it's kinda clear to me the steps into buying bitcoin with this machine, I'm just wondering if they also print the receipts with the Tx on it, it would be cool to keep those things tho. I would not be buying on these if the fee is too high, could just do it with any local wallet with lesser fees and effort.
Imagine a guy on your back tell you to stop, '' now send me the bitcoin you bought or imma shoot your head'', lol
Imagine a guy on your back tell you to stop, '' now send me the bitcoin you bought or imma shoot your head'', lol
I think the process look very simple for anyone to adopt and I think the adoption of the ATM will grow fast across all continent as year passes. I only think purchase of bitcoin with fiat will be appropriate than spending your crypto on daily need, it is a better way to save fast in asset, I wish the transaction fee was mentioned and the period from purchase and deposit was observed.
This story lacks full picture of your bike with its full description. Just joking
It might be a tad bit off-topic, but this is my thread so:
It's a Specialized Turbo Vado 5.0, which was the bike I was looking to purchase with bitcoin, and I'd asked the community how I could go about making that happen (and created another thread about it that apparently got deleted) but to no avail. I didn't just want to buy the bike with bitcoin; I really wanted the bike, period.
I'm very happy with it and have no regrets buying it, even though it cost a pretty penny.
I have not used bitcoin atm before but I have watched several videos, while selling bitcoin to receive money may require you to input your phone number or email to get a message when you will be able to withdraw the money and a QR code is printed out. But when using it to sell bitcoin, no phone number is not needed for anything. The videos I watched was way back in 2019 and I think bitcoin atm is being modified.
I think, bitcoin atms are getting modified in a way to reduce privacy. After the high transaction fee, you still have to use phone number for verification, and the atm needs to verify you for higher transaction amount. I even watched a video now because the phone number verification for buying is strange.
https://m.youtube.com/watch?v=xajKjxxRL04
I think, bitcoin atms are getting modified in a way to reduce privacy. After the high transaction fee, you still have to use phone number for verification, and the atm needs to verify you for higher transaction amount. I even watched a video now because the phone number verification for buying is strange.
https://m.youtube.com/watch?v=xajKjxxRL04
Never speed read someone's post, you might miss the details.. I read through your post and saw $50... 2 x $20 and a $10 and my quick assuption was that you fed the machine $100 (50 + 20 + 20 + 10) and then saw you posted that you got $40 worth of Bitcoin.... wanted to reply with ...."You got robbed, because I thought they charged you $60 in fees to get $40 worth of bitcoin. 
((Luckily I read it slowly again and I spot my mistake))
I have to say, Bitcoin ATM's are charging way too much fees for people to even consider converting their fiat to Bitcoin. I did it once and I promised myself NEVER to do it again.
((If they consider to lower the fees, more people would use it and they would make more profit))
((Luckily I read it slowly again and I spot my mistake))I have to say, Bitcoin ATM's are charging way too much fees for people to even consider converting their fiat to Bitcoin. I did it once and I promised myself NEVER to do it again.
((If they consider to lower the fees, more people would use it and they would make more profit)) 
Congratz @The Pharmacist you're not BTM virgin anymore 
Coincloud has one of the higher fees btw.
@o_e_l_e_o with this issuer the limit is up to $2000 you need a phone number. For anything above (and up to $10k per day) you need to scan your ID. To compare, with Shitcoins.club they can buy up to €10k without ID
Coincloud has one of the higher fees btw. @o_e_l_e_o with this issuer the limit is up to $2000 you need a phone number. For anything above (and up to $10k per day) you need to scan your ID. To compare, with Shitcoins.club they can buy up to €10k without ID
This story lacks full picture of your bike with its full description. Just joking
Anyway, great experience. Nice that you share it with others, because many don't have a chance not only to try to spend $50 just for a test; but even try to use such ATMs.
P.S. I have a Xiaomi m365 electric scooter, might gonna ride it to buy some crypto.
Anyway, great experience. Nice that you share it with others, because many don't have a chance not only to try to spend $50 just for a test; but even try to use such ATMs.
P.S. I have a Xiaomi m365 electric scooter, might gonna ride it to buy some crypto.
I notice the machine also says "Scan your ID for higher limits". Do you know what those limits were?
I got from their faq that;Quote
The limits to purchase/sell Bitcoin are a limit of $2,999 per transaction and $10,000 per day with a verified account. To verify your account, you will need to submit a valid driver's license or passport book.
They also stated in their faq that transactions would usually take up to 10-15 minutes to be confirmed, so that should settle the fears of most users of their service. Jump to: