Just an off-topic comment before I talk about the bitcoin ATM: I did finally purchase an e-bike last month, though I wasn’t able to buy it with bitcoin—there was just no easy way to do it, so I plunked down almost more money than I could afford in cash and took possession of the bad-ass machine. And the reason I mention this here is because that bike was the only reason I was able to get to the second-nearest ATM which is about 15 miles away (I don’t have a car). I wrote in a previous
post a few months back that there’s a bitcoin ATM in my town, but when I tried to use it I wasn’t able to get it to work.
Anyway, the weather was pretty good today and my motivation was high, so I pedaled the 15 miles to the gas station in which the ATM is located. I wasn’t really thinking of documenting my experience with video (or even photos, really), so I only took a few pics.
I found it interesting that there was a sign on the storefront window advertising the fact that there was a bitcoin ATM inside—bigger than the Zig Zag rolling papers advert, too! (lol)
Compared to the previous machine that I tried to use, this one was extremely simple. You basically agree to the fees, enter your mobile number to receive an SMS for verification, and then scan your wallet QR code. I kinda had some difficulty doing that last step correctly, but that was probably my own ineptitude in trying to position my QR code correctly rather than a fault of the machine. But as soon as it captured the image, it prompted me to insert cash.
My budget as of late has been kind of tight, so I only fed the machine $50, two $20 bills and a $10. After telling the machine I was done, I got this message:
I didn’t see the funds showing up on the network, but I took a chance and exited the convenience store and departed on my excellent e-bike. About 10 minutes into my ride home, I got an alert that the bitcoin was received in my wallet.
All in all, this was a pretty neat experience and I don’t regret spending my time, physical energy pedaling, or cash in order to finally try out a bitcoin ATM. I’m relieved that it was an easy process, as opposed to my last experience. Would I continue to buy bitcoin this way? No, absolutely not. I paid $50 for exactly $40 of bitcoin, and that just isn’t worth it, since I never have a dire need for crypto such that I’d pay that markup. It’s too bad the fees were that high, and I think the future of bitcoin ATMs is going to hinge on those fees being lowered. I can’t imagine there are many people who frequently need bitcoin so urgently that they’d continue to use ATMs at the present conversion rates.
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.
So anyway, I wanted to share my pretty cool experience with the community. Sorry if there aren't enough pics, but I'm not the best photographer and there was a terrible glare on the screen. Feel free to share your own experiences buying bitcoin with ATMs.
Edit: Hey, my images aren't displaying properly! Can someone help me out?