The convenience isn't the most important factor. Most Bitcoin ATMs charge a premium of at least 10%, at least in my area. That is likely going to turn away any potential Bitcoin buyers, and you're subjected to KYC anyways. If you are serious about purchasing Bitcoin, you'll more likely be interested in using a proper exchange that doesn't levy such high fees. Buying a tiny amount of Bitcoins (ie. a few dollars) is practically useless given the fees.
I never really got the point of ATM, after the surge in TX fees and the price. People looking to use Bitcoin for the long term just don't use ATMs at all.
Topic: If it is more convenient for people to buy Bitcoin, will Bitcoin be more popular - page 4. (Read 571 times)
July 23, 2021, 11:21:31 PM
July 23, 2021, 09:30:25 PM
It might be popular, but it doesn't mean it will add users. Bitcoin still has problems with scalability and efficiency as a retail store payment method. So, even though Bitcoin ATMs will be scattered everywhere, do not guarantee it will be widely used. What's more, the ATM is not a personal engine. I have never used it, but I keep the worries of solid traffic suddenly when using it. You can imagine if a long queue.
July 23, 2021, 09:22:32 PM
Bitcoin is already really really convenient for most people. I'd even go far as saying that downloading an app and buying bitcoin through it is significantly more convenient than going to a bitcoin ATM; at least for most people besides the older demographic.
A lot of people shunning out bitcoin is mostly due to ignorance and fear of volatility than the convenience of it.
A lot of people shunning out bitcoin is mostly due to ignorance and fear of volatility than the convenience of it.
July 23, 2021, 09:21:34 PM
I think any regulations or business model that ease people to buy bitcoin then it will make bitcoin more popular. In marketing make sure that the product is available in the market is important thing. Not only Cryptocurrency ATM but if there are department stores, restaurants, gas stations, stores, and etc which provide bitcoin payment option for their customers then it will boost the growth of adoption, and if it's even provide cryptocureency top up service for their customers then those companies will get more profit not only from their product but also profit from top up fee.
July 23, 2021, 09:09:08 PM
If it is more convenient for people to buy Bitcoin, will Bitcoin be more popular?
Yes, I think so. One of the most common questions I've encountered from people who have yet to buy Bitcoin is where could it be bought. They have heard about Bitcoin, understood a little of what it is, but failed to get access to it. If only there were accessible ATMs and other more convenient options to buy, they would have already bought.
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If you don’t know Bitcoin, and you see this ATM when you go to buy bread, do you buy Bitcoin with change?
No, I won't. Why would I buy something I don't even know?
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If you didn't buy it this time, when you saw these ATMs elsewhere, would you be curious to buy some?
I probably won't, but I would surely be curious as to what is being sold in there.
July 23, 2021, 08:45:47 PM
days ago i took $200 from my bank account to buy bitcoin, unbelievable that after i went through a long process to buy i finally bought bitcoin and guess how much bitcoin i got? I received the equivalent of $155 in bitcoin, it is not easy to buy bitcoin when you live in a country where the official currency is not US dollars and these hidden fees are a big headache, I was counting on at least I could have it. $180 in bitcoin, but I was only able to receive $155 in bitcoin
The reasons may be as follows:
1.Exchange losses.You convert your fiat currency into usdt, and then convert it into Bitcoin. There will be a loss due to the exchange rate in the middle.
2.Order price vs transaction price.The transaction price will be slightly higher than your transaction price.
3.When you buy, the price of Bitcoin drops.
July 23, 2021, 02:47:24 PM
If you didn't buy it this time, when you saw these ATMs elsewhere, would you be curious to buy some?
This question doesn't really make sense on a bitcoin forum, isn't it?
If it is more convenient for people to buy Bitcoin, will Bitcoin be more popular?
Maybe, but not much.
There's a problem with lack of legislation in many countries for bitcoin.
There's a problem with banks and central banks being wary and issuing warnings about bitcoin (or even ban it in certain countries).
There's a problem with influential people telling that bitcoin is bad.
There's a problem with the big variations in bitcoin price, making it not suitable for everybody to invest.
If you don’t know Bitcoin, and you see this ATM when you go to buy bread, do you buy Bitcoin with change?
You can't do that with your change. Exchange fees, withdrawal fees, ... they're too big and you will end up with nothing. So this use case is not feasible.
July 23, 2021, 02:38:45 PM
If it is more convenient for people to buy Bitcoin, will Bitcoin be more popular?
days ago i took $200 from my bank account to buy bitcoin, unbelievable that after i went through a long process to buy i finally bought bitcoin and guess how much bitcoin i got? I received the equivalent of $155 in bitcoin, it is not easy to buy bitcoin when you live in a country where the official currency is not US dollars and these hidden fees are a big headache, I was counting on at least I could have it. $180 in bitcoin, but I was only able to receive $155 in bitcoin
It will be appropriate if the fees are low, no more data is required and fast & smooth process.
I wonder if there will ever be a day when rates will be low, maybe that day won't come, the trend Is fees will be high
July 23, 2021, 05:29:10 AM
It will be appropriate if the fees are low, no more data is required and fast & smooth process.
I expect that more people will buy Bitcoin because social media and TV channels are talking positively about this technology instead of linking it to the dark internet and drug dealers.
In general, the situation will not be so bad, with high inflation and low levels of interest. Many people may not prefer to keep cash.
Glad you shared your views. I agree with you. The problems of transaction congestion and high handling fees need to be resolved as much as possible.I expect that more people will buy Bitcoin because social media and TV channels are talking positively about this technology instead of linking it to the dark internet and drug dealers.
In general, the situation will not be so bad, with high inflation and low levels of interest. Many people may not prefer to keep cash.
In addition, if people realize that holding Bitcoin is more valuable than cash, that would be a big improvement.The problem is that people haven't realized it yet.
July 23, 2021, 03:50:39 AM
1.Bitcoin or ETH Dapp is accepted by some major countries, and uses Bitcoin as legal currency.Just as the Internet took decades to create killer applications, so will blockchain applications.
2.There are more convenient channels for investors to influx，Whether it is a complex exchange or a cumbersome private key storage, these are obviously not easy for novices to enter the encryption field.
3.People lose trust in traditional investments，Just like the previous robinhood, it disappointed the players of traditional finance.
4.Bitcoin's next halving
2.There are more convenient channels for investors to influx，Whether it is a complex exchange or a cumbersome private key storage, these are obviously not easy for novices to enter the encryption field.
3.People lose trust in traditional investments，Just like the previous robinhood, it disappointed the players of traditional finance.
4.Bitcoin's next halving
I thought about how to reach another ATH.
One point I considered before is that if the way to trade Bitcoin is more convenient and easier to be accepted by ordinary people, then the price of Bitcoin will reach new heights.
It will take a long time for people to generally accept Bitcoin.
If you don't accumulate steps, you can't reach a thousand miles.
July 23, 2021, 03:32:54 AM
It will be appropriate if the fees are low, no more data is required and fast & smooth process.
I expect that more people will buy Bitcoin because social media and TV channels are talking positively about this technology instead of linking it to the dark internet and drug dealers.
In general, the situation will not be so bad, with high inflation and low levels of interest. Many people may not prefer to keep cash.
I expect that more people will buy Bitcoin because social media and TV channels are talking positively about this technology instead of linking it to the dark internet and drug dealers.
In general, the situation will not be so bad, with high inflation and low levels of interest. Many people may not prefer to keep cash.
July 23, 2021, 03:06:23 AM
1.Bitcoin or ETH Dapp is accepted by some major countries, and uses Bitcoin as legal currency.Just as the Internet took decades to create killer applications, so will blockchain applications.
2.There are more convenient channels for investors to influx，Whether it is a complex exchange or a cumbersome private key storage, these are obviously not easy for novices to enter the encryption field.
3.People lose trust in traditional investments，Just like the previous robinhood, it disappointed the players of traditional finance.
4.Bitcoin's next halving
2.There are more convenient channels for investors to influx，Whether it is a complex exchange or a cumbersome private key storage, these are obviously not easy for novices to enter the encryption field.
3.People lose trust in traditional investments，Just like the previous robinhood, it disappointed the players of traditional finance.
4.Bitcoin's next halving
I thought about how to reach another ATH.
One point I considered before is that if the way to trade Bitcoin is more convenient and easier to be accepted by ordinary people, then the price of Bitcoin will reach new heights.
July 23, 2021, 02:25:03 AM
Cryptocurrency ATM company Bitcoin Depot has announced a long-term partnership with Circle K, a convenience store chain in the United States and Canada.
Bitcoin Depot plans to install ATMs in "thousands" of Circle K convenience stores. Bitcoin Depot stated that its ATM machines enable users to exchange cash for cryptocurrency, allowing simple face-to-face transactions, giving users immediate access to Bitcoin and more than 30 other cryptocurrencies.
Bitcoin Depot has installed more than 700 Bitcoin ATMs in 30 states in the United States and Canada.
If it is more convenient for people to buy Bitcoin, will Bitcoin be more popular?
If you don’t know Bitcoin, and you see this ATM when you go to buy bread, do you buy Bitcoin with change?
If you didn't buy it this time, when you saw these ATMs elsewhere, would you be curious to buy some?
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