Grocery Stores In U.S Set To Install Bitcoin ATM

AmoreJaz

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Quote from: Marykeller on August 24, 2022, 12:12:18 PM

I wonder what the charges will be to transact with the bitcoin ATM since the bitcoin price is never stable. Shiba is trying harder to make herself relevant in the crypto space. This is a nice move, if I am to say. Going by the same initiative with bitcoin.
This is the kind of bitcoin adoption news I want to be listening to from other countries. Countries installing bitcoin ATMs

if nothing else, this is indeed a good move for SHIB. because if the fees are cheaper than using btc, then there's likelihood that people will try to get SHIB instead of BTC. and SHIB is now available in a lot of trading platforms which is not a burden anymore for traders. and definitely, people will get curious and maybe try to use it if it is already available within their area.

Marykeller

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I wonder what the charges will be to transact with the bitcoin ATM since the bitcoin price is never stable. Shiba is trying harder to make herself relevant in the crypto space. This is a nice move, if I am to say. Going by the same initiative with bitcoin.
This is the kind of bitcoin adoption news I want to be listening to from other countries. Countries installing bitcoin ATMs

Osteoid

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Bitcoin ATMs in grocery store will not only help bitcoin holders for faster, secure transactions using bitcoin, but the presence of Bitcoin and ShibaInu ATM in a place like the grocery store where all kinds of people are present, will definitely attract people and make them feel interested into knowing what is crypto, what is bitcoin, how is it different from normal currency, etc. This will also increase the volume of transactions of bitcoin daily, and the number of people involved in this community.

TheNineClub

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That's not a bad experiment. But it really depends where those stores are located and what demographics they attract, because that will be the biggest factor in how successfull it will be. However, the timing might be off a bit with the market being down.

Pesona1

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Although a few months ago the installation of bitcoin ATMs decreased due to uncertain world geopolitical conditions, but now according to Cointelegraph the installation of bitcoin ATM machines in various worlds is starting to increase again, although not as much as what happened in 2019, but the increase that is happening now shows that the existence of ATM bitcoin is starting to happen again and is consistent throughout the june, according to available data, currently bitcoin ATMs have spread around the world about 38,000 units.

Source : Cointelegraph

so98nn

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More ATM’s and that’s way intriguing stuff on going in USA. Im so happy to see such companies are putting efforts for the bitcoin. I'm startled with the tweet by the way, they are also trying for SHIBA ATM? Im wondering how they are going to compete with the low value distribution of the SHIBA? One will have to have millions of SHIBA to sell off to get plenty of cash. Lolz. Anyways, its good to see different coins has ATM now. Gives us more freedom to buy and sell en route.

asimi.io

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Good thing for the stores. A step towards mass adoption. However, I don't think that those who are concerned about privacy would want to use these bitcoin ATMs for purchasing Bitcoin.
Bitcoin crypto card is really needed the company like Binance and other who work with VISA also great

xSkylarx

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This is a good news if the atm accepts payment from non-custodial wallet like metamask or trust wallet. But if it only accepts a centralized bitcoin wallet that is owned by a company then I would avoid using it. Using centralized wallets requires KYC and their company is regulated by the central bank of that country. So if you use that atm, the government would know that you own some crypto assets which I think is not good because it destroys the purpose of bitcoin itself.

rby

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Quote from: Asiska02 on June 23, 2022, 04:26:53 PM

New Bitcoin ATMs are set to be installed in 59 Latino grocery stores around the United States.

A bitcoin ATM is used to purchase and trade cryptocurrencies like bitcoin using cash. More than 10,000 bitcoin machines have been placed in various locations around the US since it first became available in 2015.
As its operation will appear safe and the same as using a regular ATM that they have been accustomed to for years, it looks more convenient and pleasant to be used with those who are new to cryptocurrencies.

The Bitcoin ATM brings a number of benefits to your company, including:
1. Standing out from other companies in terms of market competition
2. Increase revenue generation
3. Create space for more clients
4. Possibilities for marketing
5. Continuing the current financial vogue.

Always cool to see bitcoin ATMs installation in rampant and in streets, it is showing us that bitcoin has come to stay and we have nothing to be afraid of about Bitcoin. Apart from the bitcoin ATM, this is my first time of hearing that altcoin has ATM. Not even a very top altcoin, but a meme coin. This will be a very goodnews for Shiba investors because it is giving hope that Shiba will last more longer.

Not everyone will spend huge money for installation without making research about the feasibility of the project. Maybe unless it is very simple to load the ATM with another coin, incase a particular project fails.

The Cryptovator

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Well, installing a new Bitcoin ATM machine is definitely positive. But there should be an easier process that will encourage users to use that. I know when it comes to fiat KYC would be mandatory and since it's on US tax is a matter as well. So there should easy procedure to complete all the related tasks. And shouldn't charge a high fee to withdraw or deposit Bitcoin anyway.

24Kt

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Quote from: Lucius on June 29, 2022, 04:16:13 AM

Quote from: 2stout on June 28, 2022, 03:04:22 PM

Not my preference but I can understand the thought behind it since people would want more familiarity and comfort and most everyone knows how to use an ATM.

Classic ATM requires a simple operation of inserting the card, then entering the PIN, and selecting the amount to be withdrawn. When you buy BTC, the process is a bit more complicated because you have to understand some basics - you need a crypto wallet, knowing what a public coin address is and what a private key is - although some ATMs offer the option to get a private key print, but I would always prefer direct transaction.

As an additional step in the whole process, KYC can be included in the form of scanning a personal document or even verification by recording a video - of course all with confirmation by the code you receive on your mobile number.

Once you experienced using the btc atm, it will be easier the next time around. So for me, this won't be a problem. And nowadays, it is getting sophisticated everyday. You may just use your smartphone to scan the code to proceed your transaction. So the installation of btc ATMs would be a good initiative to reach out more people to introduce the crypto market. If it is readily available, some people will use it for convenience purposes.

Lucius

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Quote from: 2stout on June 28, 2022, 03:04:22 PM

Not my preference but I can understand the thought behind it since people would want more familiarity and comfort and most everyone knows how to use an ATM.

Classic ATM requires a simple operation of inserting the card, then entering the PIN, and selecting the amount to be withdrawn. When you buy BTC, the process is a bit more complicated because you have to understand some basics - you need a crypto wallet, knowing what a public coin address is and what a private key is - although some ATMs offer the option to get a private key print, but I would always prefer direct transaction.

As an additional step in the whole process, KYC can be included in the form of scanning a personal document or even verification by recording a video - of course all with confirmation by the code you receive on your mobile number.

2stout

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The biggest advantage of this is exposure of Bitcoin to the masses and raising their curiosity and awareness. Not my preference but I can understand the thought behind it since people would want more familiarity and comfort and most everyone knows how to use an ATM.

lixer

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Quote from: virasisog on June 27, 2022, 10:37:06 AM

Quote from: ?? on ??

It is great to see the Bitcoin ATM are installed on U.S . It has its advantages and also has disadvantages. The advantage of this is that it can be used to quickly convert Bitcoin into cash. But it will be a lot more expensive Bitcoin ATMs always charge high free.

It's still more convenient compared to withdrawal from crypto to banks. The existence of Bitcoin ATM is visible proof that Bitcoin is emerging in different areas. In most cases where we're having a hard time encashing our Bitcoins, these ATMs will provide convenience for us. I hope that more countries would consider installing Bitcoin ATMs.

Some of the advantages of it are already posted by the OP but it would be better if he also include its disadvantages. It's like we are introducing btc and cryptos. We don't want others to feel surprised and complain later on. Take note that it's not only bitcoin atm's that will be installed but there's also shiba inu atm's along with it. It sounds crazy isn't it? That they keep on pushing this meme coin.

I thought that this meme coin is close to dying already but despite of it maybe this is a good alternative for those who want to save fees and don't want to use a bitcoin atm but id be glad if other much better altcoins are also going to become available.

Lucius

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Quote from: CryptoHeadlineNews on June 27, 2022, 10:57:12 AM

This is actually a wise step to increase a mass adoption of Bitcoin, but however, base on what I heard from online and other forums, I was told that withdrawing fiat from a Bitcoin ATM machine is quite expensive, as the operators charges high transaction fees just because they have only few of them, but if this number could be added, I think this will bring more competitors into the market, and as a result, cause a decrease in the transaction charges

If you missed reading my previous post, the US has over 34 000 crypto ATMs, and if I'm not mistaken with the ones located in Canada it holds over 90% of the total number of such ATMs globally. Regardless of the number of such devices, one should not hope that the fees will drop significantly, because the costs of purchasing, maintaining, and installing such devices are not cheap.

Maybe someday in the future every ATM will have a crypto option and then the fees will be much lower than today, but until then we should not expect to buy or sell Bitcoin on such devices cheaper than on online exchanges.

CryptoHeadlineNews

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This is actually a wise step to increase a mass adoption of Bitcoin, but however, base on what I heard from online and other forums, I was told that withdrawing fiat from a Bitcoin ATM machine is quite expensive, as the operators charges high transaction fees just because they have only few of them, but if this number could be added, I think this will bring more competitors into the market, and as a result, cause a decrease in the transaction charges

virasisog

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Quote from: ?? on ??

It is great to see the Bitcoin ATM are installed on U.S . It has its advantages and also has disadvantages. The advantage of this is that it can be used to quickly convert Bitcoin into cash. But it will be a lot more expensive Bitcoin ATMs always charge high free.

It's still more convenient compared to withdrawal from crypto to banks. The existence of Bitcoin ATM is visible proof that Bitcoin is emerging in different areas. In most cases where we're having a hard time encashing our Bitcoins, these ATMs will provide convenience for us. I hope that more countries would consider installing Bitcoin ATMs.

ven7net

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Quote from: Asiska02 on June 23, 2022, 04:26:53 PM

New Bitcoin ATMs are set to be installed in 59 Latino grocery stores around the United States.

A bitcoin ATM is used to purchase and trade cryptocurrencies like bitcoin using cash. More than 10,000 bitcoin machines have been placed in various locations around the US since it first became available in 2015.
As its operation will appear safe and the same as using a regular ATM that they have been accustomed to for years, it looks more convenient and pleasant to be used with those who are new to cryptocurrencies.

The Bitcoin ATM brings a number of benefits to your company, including:
1. Standing out from other companies in terms of market competition
2. Increase revenue generation
3. Create space for more clients
4. Possibilities for marketing
5. Continuing the current financial vogue.

I think that using bitcoin ATMs is certainly a great solution, but it is not suitable for everyone. The thing is that buying BTC usually takes a long time to confirm, as well as large commissions. Based on this, this option is well suited for large buyers, and for the rest it will probably not be profitable. Personally, I see a solution to this problem, for example, using not only ATMs to buy BTC, but also to buy other cryptocurrencies. It would also be nice if transactions on the BTC network would be faster and fees lower, but this is apparently a question for the BTC developers. But be that as it may, the mass appearance of such ATMs would be a great action to increase access to the purchase of cryptocurrencies, thereby increasing the adoption of crypto in the world.

Lucius

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Quote from: Asiska02 on June 23, 2022, 04:26:53 PM

A bitcoin ATM is used to purchase and trade cryptocurrencies like bitcoin using cash. More than 10,000 bitcoin machines have been placed in various locations around the US since it first became available in 2015.

Only 10 000 crypto ATMs in the US? At first it seemed to me that the number was much higher than that, and I was right -> Total number of Bitcoin ATMs / Tellers in United States: 34066

In general, I don't mind someone setting up such devices, but it bothers me that people are literally robbed of fees when they use them (I've seen fees of up to 20%), and that they are increasingly used to promote some new alts and tokens, which is the case here. The average person usually always looks for a cheaper option when buying something, and some will always rather buy 100 coins for $10 than 0.00010000 BTC for the same price.

Rikafip

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Quote from: wiss19 on June 26, 2022, 01:02:02 PM

I don't know, there is still a good reason to use it. I get that it may not be ideal because KYC is a good reason why we should use BATM and not exchanges, but in that case you could go with P2P as well. The main reason why it makes sense to me is the fact that you could cash out your crypto very quickly from those places when you need it, and that is a very good thing to do.

hen I said that there is no reason to use it, I mainly though about using as a main option.

I've been using BATM for years to buy and sell bitcoin, back then when we didn't have so many options as we have now. Even though I was able to do it without KYC, I eventually stopped as I got sick of high fees ( last time I visited my local BATM fee was 6%). I mean, why pay 6% when there are ways to do it for 2-3% fee, and also without KYC. So now I use BATM only as a sort of last resort, and thank God that I didn't have to use it in a year or so.

Topic: Grocery Stores In U.S Set To Install Bitcoin ATM (Read 632 times)