Have you, or would you ever use a Bitcoin ATM? - page 7.

BenCodie

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Quote from: yat97 on June 25, 2023, 06:15:41 PM

Quote from: serjent05 on June 25, 2023, 05:25:40 PM

Quote from: BenCodie on June 25, 2023, 04:45:46 PM

Quote from: SmallDoggy on April 04, 2022, 08:51:23 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?

It isn't safe, it's cost-inefficient and if you have an alternative (which everyone does) then use the alternative.

The alternative?
P2P markets like AgoraDesk, which allows you to trade Bitcoin to-and-from for cash, gift cards and more. The fee is 50-80℅ lower than Bitcoin ATMs, so it's a no brainer to try P2P marketplaces before using an ATM.

In terms of safety, P2P is a lot safer than how ATMs go about their operation.

It is also inconvenient since I have to go out of the safety of my house just to convert my Bitcoin to fiat or vice versa when I can just transact online using either centralized or decentralized exchanges. Besides micro payment processing apps have cryptocurrency features where we can exchange and convert fiat and crypto accordingly.

I am always worried about being scammed on sites like that. The ATM gives you bitcoin when you put in money. What if someone says they didn't get your payment? But you already mailed out the money?

There is a reputation system and an automated escrow system on AgoraDesk to counteract scamming. If you only deal with reputable traders, you will never be scammed.

If you are mailing out money, the buyer/seller will have their coins locked until they receive the cash. If they claim they don't receive it, the team can intervene and review the case. Again, this very rarely happens if you deal with reputable traders because their whole business can stop with one bad review or issue. There's no point in scamming when you can make 3-10% per trade for as long as there is demand.

Haunebu

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BTC ATMs are pretty much useless currently primarily thanks to the crazy high fees associated with BTC transactions. You would need to pay upwards of 10% or higher as fees which is completely messed up.

Purchasing from p2p platforms is way, way better in comparison since the fees are extremely low and there are a plethora of domestic and international payment methods available.

I advise avoiding such ATMs completely unless you need BTC urgently for various reasons.

nullama

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Quote from: Bitcoin_people on June 25, 2023, 08:31:44 PM

I have never seen a Bitcoin ATM machine before. Bitcoin is not accepted at all in the country I live in. For which no bitcoin or crypto is transacted in my country. Bitcoin is not officially legal in my country which is why there are no Bitcoin ATM machines either. But currently Bitcoin ATM machines are being used in different parts of the world. It's very easy and cool to trade Bitcoin in different ways through ATM machines although I've never done it. But I have a dream that one day I will use Bitcoin ATM and fulfill my feelings.

Bitcoin ATMs usually have a large fee, so think of them as convenience stores. It's much cheaper to exchange your Bitcoin at a local exchange where you would pay a lot less in fess, but again, that would require having a local bank account, which might not be possible if you are just visiting a place for a few days.

Sebas.tian

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I think, it will be difficult for me to use Bitcoin ATM in my country, because Bitcoin is not legalize in my country and there is no way government will allow such a machine to exist now in the country. Based on the information I had from those citizens their government made it legal tender, they are enjoying the benefits that attached to it because the network work is more faster and safe compared to fiat ATM machine that is giving fiat ATM users stress before the transaction will be successful. Since our government is working towards it, to ensure the citizens have access to Bitcoin in the country show that very soon there will be Bitcoin ATM machine everywhere in the country so that Bitcoin users can have access to their Bitcoin through ATM easily.

southerngentuk

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No, I have never seen or experienced a Bitcoin ATM with my own eyes. My country currently does not accept bitcoin as a legal currency, although I see quite a few people who know about it and use it as a form of daily payment. The government is still advising people on traditional media not to use cryptocurrencies because of the dangers. That's why it doesn't appear in my country. Although I see a lot of countries have this form, I have not experienced it, so I don't know how, but maybe this is a good form that solves many payment problems.

Bitcoin_people

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I have never seen a Bitcoin ATM machine before. Bitcoin is not accepted at all in the country I live in. For which no bitcoin or crypto is transacted in my country. Bitcoin is not officially legal in my country which is why there are no Bitcoin ATM machines either. But currently Bitcoin ATM machines are being used in different parts of the world. It's very easy and cool to trade Bitcoin in different ways through ATM machines although I've never done it. But I have a dream that one day I will use Bitcoin ATM and fulfill my feelings.

AmoreJaz

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Quote from: serjent05 on June 25, 2023, 05:25:40 PM

Quote from: BenCodie on June 25, 2023, 04:45:46 PM

Quote from: SmallDoggy on April 04, 2022, 08:51:23 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?

It isn't safe, it's cost-inefficient and if you have an alternative (which everyone does) then use the alternative.

The alternative?
P2P markets like AgoraDesk, which allows you to trade Bitcoin to-and-from for cash, gift cards and more. The fee is 50-80℅ lower than Bitcoin ATMs, so it's a no brainer to try P2P marketplaces before using an ATM.

In terms of safety, P2P is a lot safer than how ATMs go about their operation.

It is also inconvenient since I have to go out of the safety of my house just to convert my Bitcoin to fiat or vice versa when I can just transact online using either centralized or decentralized exchanges. Besides micro payment processing apps have cryptocurrency features where we can exchange and convert fiat and crypto accordingly.

i guess, that's the main reason why BTC ATMs are not popular even to long-time crypto users. nowadays, it is so easy to access via online trading platforms, and you can easily transfer it to your bank accounts if needed. most are just for experience purposes only why some are trying to use the bitcoin ATM. even the p2p is already very accessible online like binance p2p, and you're lucky if they are supporting your fiat currency because you can easily transfer it to your account. but if btc ATMs will find a way to lower their fees, maybe, some will continue to use their services.

yat97

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Quote from: serjent05 on June 25, 2023, 05:25:40 PM

Quote from: BenCodie on June 25, 2023, 04:45:46 PM

Quote from: SmallDoggy on April 04, 2022, 08:51:23 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?

It isn't safe, it's cost-inefficient and if you have an alternative (which everyone does) then use the alternative.

The alternative?
P2P markets like AgoraDesk, which allows you to trade Bitcoin to-and-from for cash, gift cards and more. The fee is 50-80℅ lower than Bitcoin ATMs, so it's a no brainer to try P2P marketplaces before using an ATM.

In terms of safety, P2P is a lot safer than how ATMs go about their operation.

It is also inconvenient since I have to go out of the safety of my house just to convert my Bitcoin to fiat or vice versa when I can just transact online using either centralized or decentralized exchanges. Besides micro payment processing apps have cryptocurrency features where we can exchange and convert fiat and crypto accordingly.

I am always worried about being scammed on sites like that. The ATM gives you bitcoin when you put in money. What if someone says they didn't get your payment? But you already mailed out the money?

yat97

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Quote from: SmallDoggy on April 04, 2022, 08:51:23 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?

Long as they're not the type that asks for ID. Yes. It's the only bitcoin I buy because KYC is very bad to go through to buy bitcoin.

Don't ever give your ID.

serjent05

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Quote from: BenCodie on June 25, 2023, 04:45:46 PM

Quote from: SmallDoggy on April 04, 2022, 08:51:23 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?

It isn't safe, it's cost-inefficient and if you have an alternative (which everyone does) then use the alternative.

The alternative?
P2P markets like AgoraDesk, which allows you to trade Bitcoin to-and-from for cash, gift cards and more. The fee is 50-80℅ lower than Bitcoin ATMs, so it's a no brainer to try P2P marketplaces before using an ATM.

In terms of safety, P2P is a lot safer than how ATMs go about their operation.

It is also inconvenient since I have to go out of the safety of my house just to convert my Bitcoin to fiat or vice versa when I can just transact online using either centralized or decentralized exchanges. Besides micro payment processing apps have cryptocurrency features where we can exchange and convert fiat and crypto accordingly.

BenCodie

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Quote from: SmallDoggy on April 04, 2022, 08:51:23 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?

It isn't safe, it's cost-inefficient and if you have an alternative (which everyone does) then use the alternative.

The alternative?
P2P markets like AgoraDesk, which allows you to trade Bitcoin to-and-from for cash, gift cards and more. The fee is 50-80℅ lower than Bitcoin ATMs, so it's a no brainer to try P2P marketplaces before using an ATM.

In terms of safety, P2P is a lot safer than how ATMs go about their operation.

nullama

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Quote from: KiaKia on June 20, 2023, 02:21:34 PM

I've seen Bitcoin ATMs only in videos from friends that are living in foreign countries, not in person but I would love to give it a try someday, I think the transaction fee will be the same just as when you are sending Bitcoin from your crypto wallet, unless there are some extra charges that I don't know about.

The Bitcoin transaction fee presently is looking good enough and you can get away with a cheaper feel depending on the time of operation because for example I sent Bitcoin to exchange yesterday using $0.80 and today it's $0.56 so you see that it's always lower and higher too.

It is unlikely that all countries will have Bitcoin ATMs as Bitcoin is not yet legalized globally, something that may never happen in the future, maybe we will have a Satoshi island or nation where Bitcoin is the sole currency someday, that will be good for tourism where crypto lovers and adopters will love to visit, how crazy is this?

Bitcoin ATMs are actually quite handy when traveling abroad.

You can get local fiat from your "international wallet" aka Bitcoin. It's a great solution for the time being while most countries still not have Bitcoin as legal tender.

adzino

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Quote from: KiaKia on June 20, 2023, 02:21:34 PM

I've seen Bitcoin ATMs only in videos from friends that are living in foreign countries, not in person but I would love to give it a try someday, I think the transaction fee will be the same just as when you are sending Bitcoin from your crypto wallet, unless there are some extra charges that I don't know about.

The Bitcoin transaction fee presently is looking good enough and you can get away with a cheaper feel depending on the time of operation because for example I sent Bitcoin to exchange yesterday using $0.80 and today it's $0.56 so you see that it's always lower and higher too.

It is unlikely that all countries will have Bitcoin ATMs as Bitcoin is not yet legalized globally, something that may never happen in the future, maybe we will have a Satoshi island or nation where Bitcoin is the sole currency someday, that will be good for tourism where crypto lovers and adopters will love to visit, how crazy is this?

You are going to be surprised when you will be seeing the fee lol. The exchange rate is the worst you can find. You have to pay exchange fee and then the "operator" fee. So all together you will be spending extra 5%-10%(in extreme cases) in fees. People use to still use it before because, you didn't have to verify yourself and you could instantly withdraw cash up to certain amount each day without providing any identity. But eventually, all ATMs started to ask for IDs and stuffs, so I don't know why anyone would want to use one, unless it is extreme emergency for them to have cash.

yohananaomi

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Quote from: BVeyron on June 20, 2023, 11:31:12 AM

Quote from: SmallDoggy on April 04, 2022, 08:51:23 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?

Bitcoin ATM is a good thing, but I think that there are some problems with exchange rates. The other problem of such devices is that there are not many of them, so it's impossible to find one in most locations, while money is usually needed instantly...

it seems that a bitcoin ATM may indeed be needed, but it is also necessary to pay attention to the security factor of the ATM. but for me, it's not too important because of the need for transactions, because most of them are done with other banking products. it is also true that there is still not much availability, not to mention the exchange rate that must be done first, it seems that there are still many who need local money for transactions that are very necessary compared to bitcoin ATMs.

KiaKia

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I've seen Bitcoin ATMs only in videos from friends that are living in foreign countries, not in person but I would love to give it a try someday, I think the transaction fee will be the same just as when you are sending Bitcoin from your crypto wallet, unless there are some extra charges that I don't know about.

The Bitcoin transaction fee presently is looking good enough and you can get away with a cheaper feel depending on the time of operation because for example I sent Bitcoin to exchange yesterday using $0.80 and today it's $0.56 so you see that it's always lower and higher too.

It is unlikely that all countries will have Bitcoin ATMs as Bitcoin is not yet legalized globally, something that may never happen in the future, maybe we will have a Satoshi island or nation where Bitcoin is the sole currency someday, that will be good for tourism where crypto lovers and adopters will love to visit, how crazy is this?

BVeyron

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Quote from: SmallDoggy on April 04, 2022, 08:51:23 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?

Bitcoin ATM is a good thing, but I think that there are some problems with exchange rates. The other problem of such devices is that there are not many of them, so it's impossible to find one in most locations, while money is usually needed instantly...

erep

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Quote from: ginsan on June 20, 2023, 08:21:07 AM

Bitcoin ATM are not yet fully available in several countries because maybe a country is not ready to accept Bitcoin ATM in its country.
In my country, there are several places that already have bitcoin ATM, but they are very far from where I live, which makes me want to be curious about the form of a bitcoin ATM and how to use it. Regardless I think someday I'll try using a Bitcoin ATM if one is available in the area closest to where I live.

You are lucky to live in a country that has Bitcoin ATMs in several locations, which means that cryptocurrency regulations in those countries are crypto-friendly and bitcoin ATMs are added at other points if crypto users increase, even though their use complies with government regulations.

Other developed countries are currently still monitoring economic developments in countries that have bitcoin ATMs and reviewing the number of crypto communities in their countries, but it is possible that in the next few years more and more bitcoin ATMs will spread to other developed countries.

Farma

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So far, there are no Bitcoin ATMs in the location that I have. however, if there is, I might consider the fee. besides that, in my country bitcoin is prohibited from being used as currency, or a medium of exchange, and is only allowed as an investment. so, I think it is very unlikely that a Bitcoin ATM can exist in my location. besides, there are not that many crypto users, so I think it will take a very long time before I can give it a try. Anyway, I want to know the feeling when using Bitcoin ATM. it must be awesome.

ginsan

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Quote from: Alisha FR on April 20, 2022, 09:05:16 AM

I often hear bitcoin ATMs in this discussion room. but I've never owned it, let alone used it as a transaction, I've never seen the shape. maybe I'm still in a place where there is no bitcoin ATM. however, if this were in my country, I would set up a bitcoin ATM for card collection and make it easier for me to send Bitcoins as gifts to my coworkers.

Bitcoin ATM are not yet fully available in several countries because maybe a country is not ready to accept Bitcoin ATM in its country.
In my country, there are several places that already have bitcoin ATM, but they are very far from where I live, which makes me want to be curious about the form of a bitcoin ATM and how to use it. Regardless I think someday I'll try using a Bitcoin ATM if one is available in the area closest to where I live.

But I see that there is a significant development for developed countries to have many ATM in their countries such as the USA, CADANA, UK and AUSTRALIA and I also found a thread about the development of BITCOIN ATM in this part of the world
https://bitcointalksearch.org/topic/shareinfodiskusi-data-pertumbuhan-atm-crypto-dunia-5258364

Anonohmon

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Quote from: BD Crypto on April 20, 2022, 01:25:04 PM

There is no Bitcoin Atm in my country because it's totally illegal to use any kind of Cryptocurrency. Hope soon Bitcoin will legal worldwide and we will be able to use crypto ATMs. But it's tough enough in my country.

The bitcoin community needs to fund a way for people in countries where it is illegal to be able to buy it. Like what's the point of bitcoin if it can be banned?

Topic: Have you, or would you ever use a Bitcoin ATM? - page 7. (Read 2067 times)