Have you, or would you ever use a Bitcoin ATM? - page 3.

nullama

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Quote from: ?? on ??

No, ATM got such overpriced BTC

You pay for convenience.

Imagine a supermarket being an exchange and a convenience store being an ATM.

Sometimes it might be useful to have an ATM when visiting a foreign country for a bit, say to get a bit of their local cash with Bitcoin, without needing any banks.

rodskee

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Quote from: ?? on ??

No, ATM got such overpriced BTC

Don't bother about the overpriced BTC if this is the only way to accumulate then why deny yourself? but since your name stands for it then maybe you have a lot of way to purchase and sell Bitcoin.

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Update that I have use the bitcoin ATM machine again yesterday and good news? My officemate also have His first atm use of bitcoin together witn me yesterday .

Sayeds56

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Quote from: JayJuanGee on July 05, 2023, 01:25:04 AM

Quote from: Wiwo on July 03, 2023, 05:15:38 PM

Quote from: JayJuanGee on July 01, 2023, 12:22:11 PM

I am pretty sure that most (if not all) of the BATMs that are buy only, they still are accepting cash.. that is their main value proposition. If you are using credit/debit card to buy bitcoin, then you would not need cash for that, but surely those kinds of machines would seem to be way less useful.. and so why not just have an App for that? In other words, the physical presence of a machine seems to be useful for dealing with cash whether they have both buying and selling of bitcoin or if they ONLY have buying.

Well, I am very sure that Bitcoin ATM users will avoid those Bitcoin ATMs that are configured for buy only because since those BATMs most time request for ID scam before if usage and transaction it then means that the Bitcoin ATMs for buy only are drawing us closer to centralization since that bitcoin bought through the buy only BATMs are traceable to individuals since there is a submission of IDs.

But I can still use Bitcoin ATMs to either withdraw Bitcoin to cash or better still use Bitcoin ATMs to pay for merchants or at POS for retail shopping.

I doubt that it is safe to assume that if a Bitcoin ATM only offers buying BTC, and does not offer both buying and selling, then there is some kind of a malicious plot - because there could be a variety of reasons that a machine might ONLY offer buying BTC that might include regulations or it might include logistics.

Sure, it would be better for society overall if all Bitcoin ATMs were to offer both buying and selling - but we do not live in an ideal world, and sometimes things happen for a variety of reasons that don't always make sense on the surface.

I think there are Bitcoin ATMs available in many countries where you can buy and sell Bitcoin. In fact, many Bitcoin ATMs sre designed to offer both functionalities, allowing users to buy or sell Bitcoin by using cash or other payment methods.The availability of both options may depend on its operator or local regulatory requirements. The introduction and increasing prevalence of ATMs is a positive development towards adoption and promotion of Bitcoin as digital currency.

https://cointelegraph.com/learn/bitcoin-atms-a-beginners-guide-to-bitcoin-teller-machines

JayJuanGee

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Quote from: Wiwo on July 03, 2023, 05:15:38 PM

Quote from: JayJuanGee on July 01, 2023, 12:22:11 PM

I am pretty sure that most (if not all) of the BATMs that are buy only, they still are accepting cash.. that is their main value proposition. If you are using credit/debit card to buy bitcoin, then you would not need cash for that, but surely those kinds of machines would seem to be way less useful.. and so why not just have an App for that? In other words, the physical presence of a machine seems to be useful for dealing with cash whether they have both buying and selling of bitcoin or if they ONLY have buying.

Well, I am very sure that Bitcoin ATM users will avoid those Bitcoin ATMs that are configured for buy only because since those BATMs most time request for ID scam before if usage and transaction it then means that the Bitcoin ATMs for buy only are drawing us closer to centralization since that bitcoin bought through the buy only BATMs are traceable to individuals since there is a submission of IDs.

But I can still use Bitcoin ATMs to either withdraw Bitcoin to cash or better still use Bitcoin ATMs to pay for merchants or at POS for retail shopping.

I doubt that it is safe to assume that if a Bitcoin ATM only offers buying BTC, and does not offer both buying and selling, then there is some kind of a malicious plot - because there could be a variety of reasons that a machine might ONLY offer buying BTC that might include regulations or it might include logistics.

Sure, it would be better for society overall if all Bitcoin ATMs were to offer both buying and selling - but we do not live in an ideal world, and sometimes things happen for a variety of reasons that don't always make sense on the surface.

dansus021

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I have never used Bitcoin ATM although I watch different from youtube videos on how to use it and In my country bitcoin ATM did not exist back in 2014-2015 there is one or two in Bali but I don't know if today still exist.

Although would be great if we can use bitcoin atm so we can deposit and withdraw bitcoin very convenient.

Tho the last time I hear the news about bitcoin ATM is one of the biggest operator in the US is trying to IPO and the thread is here - https://bitcointalksearch.org/topic/crypto-atm-firm-bitcoin-depot-will-go-public-on-nasdaq-starting-july-3-5458190

xSkylarx

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Quote from: MiF on July 03, 2023, 08:36:29 PM

Quote from: SmallDoggy on April 04, 2022, 09:51:23 PM

I've seen them pop up all around me, in small convenience stores and even restaurants. I was wondering if it's a good option to buy a gift for someone else, or are the fees too high and it's not worth it? Also I'm not sure how it works but figuring they give you a private key, and how safe is that?

If there will be a bitcoin ATM in my country i will not hesitate to used it depending on the machine tx fee, for now i only use a digital wallet that convert my btc to our fiat, the worst thing is the tx fee it is very high and when btc pump the btc that we store on thay wallet is not pumping its stays the same and when the price of btc fall it also fall very quick. Its just like the we are a victim of a robbery.

For sure, it is still the same fees with online exchanges as it is still back with something or it is lower than those traditional exchanges, but still, it is not that affordable to convert a small amount of BTC to our fiat. Though no matter the fees, I would also use it if it was more handy than using our phones to convert our BTC. Though you should always be careful with it, the same cautiousness applies when you are going to withdraw your money from banks.

lienfaye

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I have not tried yet to use Bitcoin Atm since it's quite far from where I am located. The nearest one takes 4 hours of travel, hence for a working person like me it's not possible to access the Bitcoin Atm. Although if given a chance I would like to experience cashing out my Bitcoin using it.

Anyway, If i'm not mistaken there are several Bitcoin Atms already available here in our country. Usually they're located in the city, I just watched some videos of those who tried to use it. Well, it's a good thing that slowly Bitcoin is recognize here. I won't be surprise if many atms are already available in the future because of the demand of the increasing number of Bitcoin users.

MiF

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Quote from: SmallDoggy on April 04, 2022, 09:51:23 PM

I've seen them pop up all around me, in small convenience stores and even restaurants. I was wondering if it's a good option to buy a gift for someone else, or are the fees too high and it's not worth it? Also I'm not sure how it works but figuring they give you a private key, and how safe is that?

If there will be a bitcoin ATM in my country i will not hesitate to used it depending on the machine tx fee, for now i only use a digital wallet that convert my btc to our fiat, the worst thing is the tx fee it is very high and when btc pump the btc that we store on thay wallet is not pumping its stays the same and when the price of btc fall it also fall very quick. Its just like the we are a victim of a robbery.

Wiwo

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Quote from: JayJuanGee on July 01, 2023, 12:22:11 PM

I am pretty sure that most (if not all) of the BATMs that are buy only, they still are accepting cash.. that is their main value proposition. If you are using credit/debit card to buy bitcoin, then you would not need cash for that, but surely those kinds of machines would seem to be way less useful.. and so why not just have an App for that? In other words, the physical presence of a machine seems to be useful for dealing with cash whether they have both buying and selling of bitcoin or if they ONLY have buying.

Well, I am very sure that Bitcoin ATM users will avoid those Bitcoin ATMs that are configured for buy only because since those BATMs most time request for ID scam before if usage and transaction it then means that the Bitcoin ATMs for buy only are drawing us closer to centralization since that bitcoin bought through the buy only BATMs are traceable to individuals since there is a submission of IDs.

But I can still use Bitcoin ATMs to either withdraw Bitcoin to cash or better still use Bitcoin ATMs to pay for merchants or at POS for retail shopping.

Synchronice

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Mentally, it feels like you feel happier because you used Bitcoin ATM and supported Bitcoin usage in some way but on another hand, the exchange rates of these ATMs are so terrible, I wouldn't really use it, I don't want to benefit bad businessman who tries to rob me via exchange rate. Yes, I understand that there is not a demand on it but the demand won't grow if ATM owner keeps such a high rates, like I have seen 10% and even more on some ATMs. Sadly, there is no true bitcoin enthusiast in Bitcoin ATM business as far as I guess.

By the way, is there any Bitcoin ATM in this world that offers Casascius physical bitcoins? That would be very interesting.

yudi09

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Quote from: LDL on July 02, 2023, 11:45:57 PM

Same to you.
I am a citizen of Bangladesh and in my country bitcoin has been declared completely illegal by the government and central bank. Citizens of Bangladesh cannot use Bitcoin publicly but we trade Bitcoin to my local currency "BDT" or BDT to Bitcoin through P2P trading through Binance Exchange. In this case, we use our native payment system, Nagad, Bikash, Rocket and Banking system. But if Bitcoin was legalized in our country then we could use ATM system like other countries.

It is very clear that any country that does not legalize Bitcoin cannot use a Bitcoin ATM. Those of us who could only make Bitcoin and other types of crypto as a commodity asset had a Bitcoin ATM but it has been several years since it no longer exists due to the number of users, fees and regulations.

Talking about if Bitcoin and crypto were legalized, we would also be able to use Bitcoin ATMs especially since they were already available.
Because Bitcoin ATMs are better in security even though they look like fiat Bank ATM machines.
However, considering that we both live in countries that do not legalize Bitcoin and crypto as legal means of payment, we can use an exchange that supports buying Bitcoin and crypto using a debit card.
Let's take advantage.

Haunebu

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Quote from: Vaskiy on July 03, 2023, 01:42:06 AM

India have got 30% tax on gains. Along with it there is a 4% cess and on trading there is 1% tds. Thats a huge money, apart the bitcoin ATMs charge a hefty fee of 15-20% which makes buy/sell using bitcoin.

That is some messed up stuff. The Indian government tried banning all cryptocurrencies again and again only to fail miserably which is why this is their new strategy to try and regulate the crypto world.

BTC ATMs in countries like India are completely useless since you will end up spending way more than required to purchase BTC.

Vaskiy

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Quote from: 2Pizza410000BTC on July 03, 2023, 01:26:03 AM

Quote from: Learn Bitcoin on July 03, 2023, 12:02:16 AM

Bangladesh usually sees what its neighboring countries are doing and what technology they are using. India already legalized Bitcoin with a 30% tax (Which is ridiculous) on profit. Yet Bangladesh did not think about Bitcoin yet. Maybe we won't be able to see the legalization of Bitcoin in Bangladesh. But good luck to the next generation!

Our neighboring country India where Bitcoin is legalized with 30% tax and their political and economic conditions are much better than Bangladesh. Although they legalized Bitcoin at 30% tax but the political and economic condition of our Bangladesh is so bad that it is not possible to legalize Bitcoin even at 70% tax here. If the government of Bangladesh legalizes Bitcoin, its country and banking system will be in dire straits, never legalize it.

Since there is no acceptance of Bitcoin in Bangladesh especially by the government, there is no system to install Bitcoin ATMs in the country. However, I searched on Google and saw that there is no Bitcoin ATM here.

India have got 30% tax on gains. Along with it there is a 4% cess and on trading there is 1% tds. Thats a huge money, apart the bitcoin ATMs charge a hefty fee of 15-20% which makes buy/sell using bitcoin ATM very expensive compared to what's been charged on exchanges. I haven't used Bitcoin ATMs, maybe installing bitcoin ATM is profitable.

2Pizza410000BTC

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Quote from: Learn Bitcoin on July 03, 2023, 12:02:16 AM

Bangladesh usually sees what its neighboring countries are doing and what technology they are using. India already legalized Bitcoin with a 30% tax (Which is ridiculous) on profit. Yet Bangladesh did not think about Bitcoin yet. Maybe we won't be able to see the legalization of Bitcoin in Bangladesh. But good luck to the next generation!

Our neighboring country India where Bitcoin is legalized with 30% tax and their political and economic conditions are much better than Bangladesh. Although they legalized Bitcoin at 30% tax but the political and economic condition of our Bangladesh is so bad that it is not possible to legalize Bitcoin even at 70% tax here. If the government of Bangladesh legalizes Bitcoin, its country and banking system will be in dire straits, never legalize it.

Since there is no acceptance of Bitcoin in Bangladesh especially by the government, there is no system to install Bitcoin ATMs in the country. However, I searched on Google and saw that there is no Bitcoin ATM here.

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Quote from: Learn Bitcoin on July 03, 2023, 12:02:16 AM

Quote from: LDL on July 02, 2023, 11:45:57 PM

But if Bitcoin was legalized in our country then we could use ATM system like other countries.

We are still a way far from that. I don't think Bangladesh will legalize Bitcoin anytime soon because most ministers and government officials do not understand Bitcoin. Only a few people, like ICT Minister Zunaid Ahmed Palak, understand the concept of Bitcoin, and he spoke a couple of times to think about it. He invited Central Bank of Bangladesh officials to meet to discuss Bitcoin. I don't know if they had an appointment, but I heard nothing positive about it.

Bangladesh usually sees what its neighboring countries are doing and what technology they are using. India already legalized Bitcoin with a 30% tax (Which is ridiculous) on profit. Yet Bangladesh did not think about Bitcoin yet. Maybe we won't be able to see the legalization of Bitcoin in Bangladesh. But good luck to the next generation!

In nations with a more conventional financial mentality, such as Bangladesh, Bitcoin's reputation as a confusing tangle of algorithms and codes may prevent it from gaining widespread adoption. Yes, you're right; Bangladesh is seriously behind in this area. However, this is not always a dead end. Despite early opposition, other countries, like as India, have already approved Bitcoin. The 30% tax is rather high, but at least it's a beginning. Leaders and government officials in Bangladesh should make learning about Bitcoin a priority if they're serious about implementing the technology. They run the danger of impeding both innovation and economic progress if they dont.

bettercrypto

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Quote from: tjtonmoy on June 30, 2023, 12:53:03 PM

Quote from: JayJuanGee on June 28, 2023, 09:43:04 AM

~snip

They say, you never know until you try it. So jumping to a conclusion was my bad. I do not have on hand experience with Bitcoin ATMs, so giving out my negative opinion was not a good thing. The way you have explained it made it more clear to me that, under some circumstances, Bitcoin ATMs are way better than centralized exchanges. I have never thought that there could be alternative options between Bitcoin ATMs.
When you look at anything from a different perspective, you start to learn new things about it. This is quite true. Maybe not for regular use, but in situations like what you explained, could be a great help. Not running into some complex thing and doing what you want to do freely is really a blessing. And if those Bitcoin ATMs can provide us with such services, it will be really good.

Literally speaking for me Bitcoin ATM is good to use for Bitcoin holders. It's just that here in my country there is only one place that is known to have a Bitcoin ATM, and it's far from where I am. So he is not practical to me.

But even so, there are still many other alternative ways for me to use Bitcoin, because there are many merchants who accept Bitcoin in other establishments, so it's okay for me.

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Quote from: LDL on July 02, 2023, 11:45:57 PM

But if Bitcoin was legalized in our country then we could use ATM system like other countries.

We are still a way far from that. I don't think Bangladesh will legalize Bitcoin anytime soon because most ministers and government officials do not understand Bitcoin. Only a few people, like ICT Minister Zunaid Ahmed Palak, understand the concept of Bitcoin, and he spoke a couple of times to think about it. He invited Central Bank of Bangladesh officials to meet to discuss Bitcoin. I don't know if they had an appointment, but I heard nothing positive about it.

Bangladesh usually sees what its neighboring countries are doing and what technology they are using. India already legalized Bitcoin with a 30% tax (Which is ridiculous) on profit. Yet Bangladesh did not think about Bitcoin yet. Maybe we won't be able to see the legalization of Bitcoin in Bangladesh. But good luck to the next generation!

LDL

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Quote from: dercfor on July 02, 2023, 04:54:24 AM

Quote from: SmallDoggy on April 04, 2022, 09:51:23 PM

I've seen them pop up all around me, in small convenience stores and even restaurants. I was wondering if it's a good option to buy a gift for someone else, or are the fees too high and it's not worth it? Also I'm not sure how it works but figuring they give you a private key, and how safe is that?

There is no crypto ATM in my country. One guy tried to install it here and he was arrested for it citing legal issues.

Same to you.
I am a citizen of Bangladesh and in my country bitcoin has been declared completely illegal by the government and central bank. Citizens of Bangladesh cannot use Bitcoin publicly but we trade Bitcoin to my local currency "BDT" or BDT to Bitcoin through P2P trading through Binance Exchange. In this case, we use our native payment system, Nagad, Bikash, Rocket and Banking system. But if Bitcoin was legalized in our country then we could use ATM system like other countries.

nullama

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Quote from: JayJuanGee on June 29, 2023, 01:48:59 PM

~snip~
Why do people do this?

They say: "my country" and they expect everyone to either know what country is being talked about or we have to go back to your various other posts to try to figure out which country you are talking about (like a puzzle).

It's a bit annoying.. and if you don't want to say that it is your country, then just name the country.. or maybe a group of countries that you might believe (or have knowledge) to be similar or something to specify.. it would be less annoying to be able to see what country you are talking about without my having to do a bunch of work to try to solve the puzzle that you set forth.. which could even mean that it is gobbledy-gook on purpose?

Yeah, I agree, it's a bit annoying but also somewhat common.

Like people for example saying it's summer now, or winter, when in reality half of the world is living the opposite.

Or saying good morning, or happy Friday or whatever, because of different time zones people will be living the opposite of the day, and might even living a different day right now.

Basically people make the same assumptions they do in a local conversation, and forget that online conversations might have people from all around the world. Which is understandable, as we evolved with local tribes, not internet connected communities Grin

WatChe

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Quote from: JayJuanGee on June 29, 2023, 01:48:59 PM

Why do people do this?

They say: "my country" and they expect everyone to either know what country is being talked about or we have to go back to your various other posts to try to figure out which country you are talking about (like a puzzle).

It's a bit annoying.. and if you don't want to say that it is your country, then just name the country.. or maybe a group of countries that you might believe (or have knowledge) to be similar or something to specify.. it would be less annoying to be able to see what country you are talking about without my having to do a bunch of work to try to solve the puzzle that you set forth.. which could even mean that it is gobbledy-gook on purpose?

It may be because someone don't wanna name there country to hide there geographical location. But I do agree with you that we should name our country so that people can easily figure out from where one is taking about. If you don't name your country then whole discussion remain useless.
To question posted by OP regarding use of Bitcoin ATM, I would say in my country aka Pakistan crypto is ban. So there is no ATM in my country and that's the reason I cant use it. If I have the opportunity to go abroad and have chance to use it, I will defiantly give it a try.

Topic: Have you, or would you ever use a Bitcoin ATM? - page 3. (Read 2018 times)