Topic: Includes happiness and Bitcoin (Read 298 times)
Too bad for our country as we have yet to legalize bitcoin. Good to see other countries taking the right path with crypto ATM and accepting bitcoin payments in shopping malls.Although developed countries like Turkey are far ahead of our country.As far as I know ATM are very secure,But my concern is, can it be hacked and have questions about the commission rate of Bitcoin ATM.How much is bitcoin ATM fee from other ATM. I don't know about bitcoin ATM.
This is the first Bitcoin ATM machine you've ever seen that makes you so happy. But I haven't seen a Bitcoin ATM machine yet but have seen many online. Bitcoin is completely illegal in the country I live in and any information about Bitcoin transactions in my country is subject to legal action. However, shopping malls and many stores in various countries also accept Bitcoin payments. Bitcoin can be easily exchanged through ATM machines. Cryptocurrencies are currently gaining popularity in the world at large and Bitcoin will only become more popular.
Crypto ATMs are having high commission rate comparing with the exchange trading fees but if the exchange doesn't have any KYC requirement for buying and selling then its worth celebrating and hopefully the ATMs will increase across the world so the emergency withdrawal can be more convenient.
But what about the regulations and how much the commission rate, is it affordable or unfair?
I think most people are using Bitcoin ATM because they're curious and want to get experience, but it's not for long term usage when they're have many choices. But what about the regulations and how much the commission rate, is it affordable or unfair?
The commission rate of Bitcoin ATM is unfair because you're overpaid the fee, when the Bitcoin network is busy, the fee will increase too. Bitcoin ATM seems successful because not many people know the place to trade Bitcoin via P2P, but when Bitcoin already adopted as legal tender and it's already common to use Bitcoin. It's either Bitcoin ATM will bankrupt or they will adjust the commission rate.
Crypto ATMs are having high commission rate comparing with the exchange trading fees but if the exchange doesn't have any KYC requirement for buying and selling then its worth celebrating and hopefully the ATMs will increase across the world so the emergency withdrawal can be more convenient.
But what about the regulations and how much the commission rate, is it affordable or unfair?
I think most people are using Bitcoin ATM because they're curious and want to get experience, but it's not for long term usage when they're have many choices. But what about the regulations and how much the commission rate, is it affordable or unfair?
The commission rate of Bitcoin ATM is unfair because you're overpaid the fee, when the Bitcoin network is busy, the fee will increase too. Bitcoin ATM seems successful because not many people know the place to trade Bitcoin via P2P, but when Bitcoin already adopted as legal tender and it's already common to use Bitcoin. It's either Bitcoin ATM will bankrupt or they will adjust the commission rate.
Agreed on the high rates, it's annoying and will keep most serious investors away for now. However I think there are some very "valid" reasons for this:
- Currently Bitcoin ATMs are a high-risk business, it's still very niche and most people are probably very skeptic when encountering such an ATM
- usually only small amounts are traded via ATMs
- these businesses are mostly small start-ups. Hardware and software maintanance are not easy, unless they are already esablished on the market for a longer time, so they probably need to get their initial investments back
- it's still such a tiny market, you won't find much competition, so they are not really incentivised to have competitive rates.
All this should change to the better over time, resulting in lower, more competitive rates (compared to regular exchange rates).
Crypto ATMs are having high commission rate comparing with the exchange trading fees but if the exchange doesn't have any KYC requirement for buying and selling then its worth celebrating and hopefully the ATMs will increase across the world so the emergency withdrawal can be more convenient.
But what about the regulations and how much the commission rate, is it affordable or unfair?
I think most people are using Bitcoin ATM because they're curious and want to get experience, but it's not for long term usage when they're have many choices. But what about the regulations and how much the commission rate, is it affordable or unfair?
The commission rate of Bitcoin ATM is unfair because you're overpaid the fee, when the Bitcoin network is busy, the fee will increase too. Bitcoin ATM seems successful because not many people know the place to trade Bitcoin via P2P, but when Bitcoin already adopted as legal tender and it's already common to use Bitcoin. It's either Bitcoin ATM will bankrupt or they will adjust the commission rate.
Crypto ATMs are having high commission rate comparing with the exchange trading fees but if the exchange doesn't have any KYC requirement for buying and selling then its worth celebrating and hopefully the ATMs will increase across the world so the emergency withdrawal can be more convenient.
But what about the regulations and how much the commission rate, is it affordable or unfair?
But what about the regulations and how much the commission rate, is it affordable or unfair?
What does the camera on the bitcoin ATM do? If not for the camera, then it would be just the perfect decision to purchase btc. And thus the question arises in whose hands the information about transactions and the buyer will fall. Now it will not be a problem to find out information about a person from his photo.
Tell us in more detail, what kind of transaction can be carried out using the phone? Is it an opportunity to buy BTC by deducting money from a phone number or not? What did you mean?
Tell us in more detail, what kind of transaction can be carried out using the phone? Is it an opportunity to buy BTC by deducting money from a phone number or not? What did you mean?
this is great news, and this is the first time I've heard of a bitcoin atm, I'm sure that having a bitcoin atm will make people more enthusiastic about investing in bitcoin, and maybe people who don't like bitcoin will start liking bitcoin and buying bitcoin .
hopefully atm bitcoin spread and more and more. because exists a bitcoin atm is of course very helpful, especially for people who invest in bitcoin.
hopefully atm bitcoin spread and more and more. because exists a bitcoin atm is of course very helpful, especially for people who invest in bitcoin.
Great to see some countries are seemingly taking the correct route regarding crypto ATMs. (and thanks for sharing btw)
However I am aware of quite a few EU-based states that slowly but steadily made ATM either completely illegal or have high entry-barriers that prevent tiny companies to try their luck in that area. Hope this will change again in the future - indeed "tiny" things like ATMs can have a very nice impact on adoption in the long run.
However I am aware of quite a few EU-based states that slowly but steadily made ATM either completely illegal or have high entry-barriers that prevent tiny companies to try their luck in that area. Hope this will change again in the future - indeed "tiny" things like ATMs can have a very nice impact on adoption in the long run.
Access to crypto will become easier with the spread of Bitcoin and crypto money ATMs in Turkey. It was an incredible source of happiness for me to see a Bitcoin ATM for the first time where i live.
Do you know if they ask for identification to operate with them? The main attraction of crypto ATMs is usually that they do not ask for identification, at least for transactions below certain limits. The fact that they are starting to appear in shopping centres is good, as you said, because people will start to see it as a normal thing, but the use of these ATMs by people who understand them will depend on whether or not they ask for identification and the fees. Usually the fees are high but they don't ask for KYC, and that suits a lot of people.
I have never seen a Bitcoin ATM physically and didn't know some of them are asking for identification like what you've said. But one thing I always thought I'm pretty sure about is that, it will have higher fees compared to the local exchange and custodial wallets, because of its convenience and availability and it is inside a mall, well everything inside the mall is a bit pricey lol.
I was wondering about that myself, and like you Oasisman I have never seen one, If I
had access to one though I would definitely use it to buy Bitcoin particularly if I didnt
have to provide identification and even if the fees were high. To be able to buy Bitcoin
with cash is definitely a big advantage.
I think its also a viable substitute for P2P transactions particularly short term
Wow this is great and I really will be glad if we can get something like this in my country someday
It seems the machine might be a very easy one because it truly looks so but on the other hand, I thought Bitcoin was banned in turkey, I haven't heard any recent news about turkey but I hope this fellow aren't flaunting any rules of the country.
Based on the talks on this thread, if there were Bitcoin machines before the ban, there would possibilities of the government not figuring out all the machines while implementing the law but if the machines where installed after the ban then the citizen has flaunted the law
It seems the machine might be a very easy one because it truly looks so but on the other hand, I thought Bitcoin was banned in turkey, I haven't heard any recent news about turkey but I hope this fellow aren't flaunting any rules of the country.
Based on the talks on this thread, if there were Bitcoin machines before the ban, there would possibilities of the government not figuring out all the machines while implementing the law but if the machines where installed after the ban then the citizen has flaunted the law
As mentioned earlier in the thread, Bitcoin trading isn't banned in Türkiye. In fact we have very big exchanges such as BTCTurk that have high volumes around the globe. ATM's should fit under this category and are completely legal. They are probably used mostly by foreigners anyway. Because trading fee rates aren't competitive between these machines and local exchanges. The ban to use cryptocurrencies for purchases is complete nonsense but what do you expect from this government? They are very inconsistent in making decisions about cryptocurrencies.
Wow this is great and I really will be glad if we can get something like this in my country someday
It seems the machine might be a very easy one because it truly looks so but on the other hand, I thought Bitcoin was banned in turkey, I haven't heard any recent news about turkey but I hope this fellow aren't flaunting any rules of the country.
Based on the talks on this thread, if there were Bitcoin machines before the ban, there would possibilities of the government not figuring out all the machines while implementing the law but if the machines where installed after the ban then the citizen has flaunted the law
It seems the machine might be a very easy one because it truly looks so but on the other hand, I thought Bitcoin was banned in turkey, I haven't heard any recent news about turkey but I hope this fellow aren't flaunting any rules of the country.
Based on the talks on this thread, if there were Bitcoin machines before the ban, there would possibilities of the government not figuring out all the machines while implementing the law but if the machines where installed after the ban then the citizen has flaunted the law
What I believe is, If Bitcoin is Banned in Turkiye, The ATM Was built before the ban, and the Turkey government didn't check if there are Bitcoin ATMs.
That's not the case here. The ATM is new and Bitcoin isn't banned in Türkiye. You can trade Bitcoin legally but you can't use Bitcoin to buy any goods or services. Regulation on this issue was published in 2021.
No one would make an attempt to set the ATM in a mall without legal permissions. This regulation blocks many initiatives. Unfortunately the potential in the country isn't used well. There are elections in 2 months, maybe new government look more positively and change these rules and regulations.
If that's the case, then I would say it's a dumb decision from the government. They allow you to transact Bitcoin, but they don't allow you to use it. Do they explain why they do not allow people to buy goods or services? About elections, I know political parties promise many things before the election. But, when they win the election, they turn 360 degrees and forget everything. I hope this is not going to happen in Turkiye.
You state that "Turkey government didn't check if there are Bitcoin ATMs" when They issued The Regulation of Banning Bitcoin, This statement is not make sense at all, but no problem that at least you tried to deliver what you think.
Why it doesn't make sense at all?
I am not from turkiye. Not knowing their situation is not surprising. Suppose you running a mining machine inside your house, and the Government has banned Mining. They were unable to check your house if you were mining or not because it's impossible for every house. Does it make sense to you?
The reason that i know is inability of the goverment to monitor and control the transactions and excessive market volatility and use in illegal activity.
That's basically similar things. Government cannot monitor Bitcoin Transactions. Also, they cannot monitor every house and private sector. It's not impossible to run a Bitcoin ATM in a secret club even if they ban Bitcoin transactions. That was just my assumption which I mentioned the end of my post. 
How ironic is that Turkish government let these Bitcoin ATM's but prohibit its use in the purchase and sale of goods and services. Their decisions are constantly contradicting each other. You can buy Bitcoin from that mall by using that ATM, but you can't use that Bitcoin to buy anything at the same place.
I didn't know that Bitcoin Transaction is not allowed in Turkey. I know another country where Bitcoin and all other crypto are banned. -snip- What I believe is, If Bitcoin is Banned in Turkey, The ATM Was built before the ban, and the Turkey government didn't check if there are Bitcoin ATMs. Just like in some cities, casinos are banned. Still, there are some casinos inside some Expensive hotels and Bars. Sometimes they get caught, and the government takes action against them. I believe the shopping mall owner or whoever sets the ATMs will be in trouble if the government finds there is a Bitcoin ATM. Just my assumption.
You state that "Turkey government didn't check if there are Bitcoin ATMs" when They issued The Regulation of Banning Bitcoin, This statement is not make sense at all, but no problem that at least you tried to deliver what you think.The reason that i know is inability of the goverment to monitor and control the transactions and excessive market volatility and use in illegal activity.
Reference :
1. Turkey to Ban the Use of Crypto for Payments; Bitcoin Falls
This must be very exciting for you to see your first Bitcoin ATM where you live. I still haven’t used a bitcoin ATM which is surprising for me because I’m a pretty big fan of Bitcoin.
I think I would be interested in trying one. One of the main reasons would be curiosity and just general interest. I would love to see how the process works and check out the whole process.
I have noticed more BTC ATMs around and I think it’s nice to see them showing up. Typically though with my BTC I prefer to hodl so I maybe will buy some to test the ATM.
I think I would be interested in trying one. One of the main reasons would be curiosity and just general interest. I would love to see how the process works and check out the whole process.
I have noticed more BTC ATMs around and I think it’s nice to see them showing up. Typically though with my BTC I prefer to hodl so I maybe will buy some to test the ATM.
Yes, I think the manufacturers and distributors of Bitcoin ATMs has mostly focused on first world countries at the start, but they are slowly shifting their focus to smaller countries in Europe and even Africa and South America. 
I also share your joy, because the same thing happened to me when I saw our first Bitcoin ATM in my country. Just the fact that you are now part of the bigger Bitcoin family, gives you that warm feeling of comfort.
I also share your joy, because the same thing happened to me when I saw our first Bitcoin ATM in my country. Just the fact that you are now part of the bigger Bitcoin family, gives you that warm feeling of comfort.
What I believe is, If Bitcoin is Banned in Turkey, The ATM Was built before the ban, and the Turkey government didn't check if there are Bitcoin ATMs.
That's not the case here. The ATM is new and Bitcoin isn't banned in Türkiye. You can trade Bitcoin legally but you can't use Bitcoin to buy any goods or services. Regulation on this issue was published in 2021.
No one would make an attempt to set the ATM in a mall without legal permissions. This regulation blocks many initiatives. Unfortunately the potential in the country isn't used well. There are elections in 2 months, maybe new government look more positively and change these rules and regulations.
Access to crypto will become easier with the spread of Bitcoin and crypto money ATMs in Turkey. It was an incredible source of happiness for me to see a Bitcoin ATM for the first time where i live.
Do you know if they ask for identification to operate with them? The main attraction of crypto ATMs is usually that they do not ask for identification, at least for transactions below certain limits. The fact that they are starting to appear in shopping centres is good, as you said, because people will start to see it as a normal thing, but the use of these ATMs by people who understand them will depend on whether or not they ask for identification and the fees. Usually the fees are high but they don't ask for KYC, and that suits a lot of people.
I have never seen a Bitcoin ATM physically and didn't know some of them are asking for identification like what you've said. But one thing I always thought I'm pretty sure about is that, it will have higher fees compared to the local exchange and custodial wallets, because of its convenience and availability and it is inside a mall, well everything inside the mall is a bit pricey lol.
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Access to crypto will become easier with the spread of Bitcoin and crypto money ATMs in Turkey. It was an incredible source of happiness for me to see a Bitcoin ATM for the first time where i live.
Do you know if they ask for identification to operate with them? The main attraction of crypto ATMs is usually that they do not ask for identification, at least for transactions below certain limits. The fact that they are starting to appear in shopping centres is good, as you said, because people will start to see it as a normal thing, but the use of these ATMs by people who understand them will depend on whether or not they ask for identification and the fees. Usually the fees are high but they don't ask for KYC, and that suits a lot of people.
How ironic is that Turkish government let these Bitcoin ATM's but prohibit its use in the purchase and sale of goods and services. Their decisions are constantly contradicting each other. You can buy Bitcoin from that mall by using that ATM, but you can't use that Bitcoin to buy anything at the same place.
I didn't know that Bitcoin Transaction is not allowed in Turkey. I know another country where Bitcoin and all other crypto are banned. But, When miners import ASICs to mine Bitcoin or other coins. Customs release them because they do not understand what it is. I don't know how they import it. But, they are running their miners. What I believe is, If Bitcoin is Banned in Turkey, The ATM Was built before the ban, and the Turkey government didn't check if there are Bitcoin ATMs. Just like in some cities, casinos are banned. Still, there are some casinos inside some Expensive hotels and Bars. Sometimes they get caught, and the government takes action against them. I believe the shopping mall owner or whoever sets the ATMs will be in trouble if the government finds there is a Bitcoin ATM. Just my assumption.
This is good news because by increasing the facility to buy BTC in these public places it will increase people's curiosity to be able to know what BTC is and start adopting it, whether it's as an investment asset or just for their transactions. Moreover, Turkey is a country with a fairly high level of crypto adoption, so these facilities will further increase the number of crypto adopters there.
How ironic is that Turkish government let these Bitcoin ATM's but prohibit its use in the purchase and sale of goods and services. Their decisions are constantly contradicting each other. You can buy Bitcoin from that mall by using that ATM, but you can't use that Bitcoin to buy anything at the same place.
Yeah, it has been mentioned here since 2021 [1] but it's still good even though Bitcoin is banned in banking, but the Turkey's bank didn't mind if the original source is come from Bitcoin. In Nigeria the bank doesn't accept any money which related with Bitcoin, so they're just use it through P2P. However with the recent earthquake where Turkey government receive a lot donation through cryptocurrency, I think they might be more friendly about crypto usage in the future.
[1] https://en.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory#Turkey
It's worth celebrating mate. I have only seen his ATMs online and have never used it them. It's good to hear that Turkey supports the growth of Bitcoin. The spread of Bitcoin ATMs will be swift If more government remove the ban on Bitcoin operations. And the availability of these machine will promote the use of Bitcoin as a currency. Hoping to see mine someday.
How ironic is that Turkish government let these Bitcoin ATM's but prohibit its use in the purchase and sale of goods and services. Their decisions are constantly contradicting each other. You can buy Bitcoin from that mall by using that ATM, but you can't use that Bitcoin to buy anything at the same place.
I don't know about that, mate. As I have never used one, so I have no experience on it. But as every ATM works in such way that it could be hacked. Don't get me wrong on this, as I think it is a great way to reduce scams instead of P2P buy/sell. But my concern is that, could it be hacked?
Even if they find a way to hack the device, it wouldn't be wise to hack the ATM in an environment where every moment is recorded with cameras.
But my concern is that, could it be hacked?
Every system and software that's connected to the web could be hacked, there's always that possibility of being in that scenario. But the developers and companies that produce such ATMs, they've taken measures to their security, and for sure that it won't be easy for the perpetrators to commit such acts. There could be attempts and that's why securities of such systems are continuous in terms of updates to avoid into being potential abuses. As for having a bitcoin ATM nearby, it really brings joy to the enthusiast out there. I wish that I'm also near to one of it in my country, there are two already but I need to allot travel time on it since it's not from a nearby station/mall. this Atm do reduce the rate of scam in buying and selling of Bitcoin
I don't know about that, mate. As I have never used one, so I have no experience on it. But as every ATM works in such way that it could be hacked. Don't get me wrong on this, as I think it is a great way to reduce scams instead of P2P buy/sell. But my concern is that, could it be hacked? I have no fear regarding stealing, as they are stored digitally and can't be taken away if anyone tries to. But as every digital asset is moved through the internet, it is quite possible to get hacked. So can you share some knowledge with me in order for me to better understand this concept?
Congrats this is good news. Nigeria got their first Bitcoin Atm in 2020 but there have been ban in cryptocurrency activities since 2021 and so I don't think it's still functioning and its really disappointing because this Atm do reduce the rate of scam in buying and selling of Bitcoin and The Kyc verification doesn't require you to place all your personal information as most CEX does but just require a basic information like your phone number
Access to crypto will become easier with the spread of Bitcoin and crypto money ATMs in Turkey. It was an incredible source of happiness for me to see a Bitcoin ATM for the first time where i live. It was an ATM located inside a central shopping mall. I hope this initiative which makes me very happy will take its place in all cities and ATM points.
It's worth celebrating mate. I have only seen his ATMs online and have never used it them. It's good to hear that Turkey supports the growth of Bitcoin. The spread of Bitcoin ATMs will be swift If more government remove the ban on Bitcoin operations. And the availability of these machine will promote the use of Bitcoin as a currency. Hoping to see mine someday.Quote
I think we will see advanced versions of this ATM which is just a simple purchase and sale for now. The ATM has a language option and you can perform your transaction with your phone number.
From picture there are also options for buying and selling of bitcoin. I am also glad to know that this ATMs promotes privacy. One of my greatest attraction to Bitcoin is because it promotes anonymity to a large extent.
Access to crypto will become easier with the spread of Bitcoin and crypto money ATMs in Turkey. It was an incredible source of happiness for me to see a Bitcoin ATM for the first time where i live. It was an ATM located inside a central shopping mall. I hope this initiative which makes me very happy will take its place in all cities and ATM points.
I think we will see advanced versions of this ATM which is just a simple purchase and sale for now. The ATM has a language option and you can perform your transaction with your phone number.
I think we will see advanced versions of this ATM which is just a simple purchase and sale for now. The ATM has a language option and you can perform your transaction with your phone number.
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