I have been following Crypto ATM's quite closely in Italy.
They used to be a nice way to buy bitcoin in a Privacy oriented way. Actually some of them allowed the user to buy Crypto without being KYC'd (like I described in my thread Comprare Bitcoin senza KYC: Bitcoin bancomat a Milano rispettoso della Privacy - sorry- in italian).
As in the EU the KYC/AML5 directive has made the legal use of such instruments very difficult, and for sure a KYC-less use is now borderline illegal (with some nuances, as detailed in the linked thread), I am progressively losing interest in this channel to buy Bitcoins.
Higher fees were justified by the privacy these ATM warranted to the user. If such advantage is not guaranteed anymore, then I prefer the efficiency (cost and liqidity wise) of traditional exchanges.
Topic: There Are Now More Than 8,000 Bitcoin ATM's Worldwide - page 4. (Read 1271 times)
Are there really a lot of people using Bitcoin ATMs?
Honestly, I haven't seen one, yet what I have read from some of the reviews that the fees is a bit higher than the other options of buying and selling Bitcoin.
Pretty sure the people in the US are really using these ATMs because 80% of them were deployed there.
However, that's a good way to make Bitcoin more popular.
Honestly, I haven't seen one, yet what I have read from some of the reviews that the fees is a bit higher than the other options of buying and selling Bitcoin.
Pretty sure the people in the US are really using these ATMs because 80% of them were deployed there.
However, that's a good way to make Bitcoin more popular.
True, that's one reason one crypto people are staying away from Bitcoin ATM is because of the exorbitant fees. Bitcoin ATM operators are simply creating a 'fake' demand here, and just build their ATM brand across America but only minority are using them.
And if people are going to use ATM, its just for the 'experience' and tell their friends about it.
Only 8000? I figured with the 2017/2018 boom we would have atleast 5x the amount.
There might be some delays on other places due to the pandemic or there’s no much demand on using BTC ATM and in my country you can see that machine in one place only which is very impossible for other people to use it. This is already a good number for a new currency, but since making online transactions are more easier, maybe people still have to do this online instead of going out just to transact on Btc atm. It will still grow in time definitely we just need to wait for more demand in the market.
I don't believe in crypto ATMs, they're definitely not the way to mass adoption.
Most of them have a ridiculously high exchange fee of between 7-10% (some even more), and most now require KYC verification to use.
Why the hell would I go through all of that, when I can do exactly the same through Coinbase for a far lower fee and have the money in my account within seconds?
STRONG PASS ON CRYPTO ATMS.
Most of them have a ridiculously high exchange fee of between 7-10% (some even more), and most now require KYC verification to use.
Why the hell would I go through all of that, when I can do exactly the same through Coinbase for a far lower fee and have the money in my account within seconds?
STRONG PASS ON CRYPTO ATMS.
When viewed from the percentage the figure indeed jumped dramatically. And the country with the largest number of Bitcoin ATMs is The US, which is 6000 Bitcoin ATMs. In this country, Bitcoin ATMs have increased since March by 17%. What a fantastic number. This proves that many more people can use this ATM more easily. This will then become a normal and usual thing to use in some countries. However, for countries that do not yet have it, I hope they will soon adopt this. However, maybe they are indeed constrained by the laws in force in the country. In addition, another influence is the urgency of people who use Bitcoin ATMs in a country.
Are there really a lot of people using Bitcoin ATMs?
Honestly, I haven't seen one, yet what I have read from some of the reviews that the fees is a bit higher than the other options of buying and selling Bitcoin.
Pretty sure the people in the US are really using these ATMs because 80% of them were deployed there.
However, that's a good way to make Bitcoin more popular.
Honestly, I haven't seen one, yet what I have read from some of the reviews that the fees is a bit higher than the other options of buying and selling Bitcoin.
Pretty sure the people in the US are really using these ATMs because 80% of them were deployed there.
However, that's a good way to make Bitcoin more popular.
We need both increment in number of ATMs available and decrement in fees involved. Personal traders mostly provides a margin upto 10% of buy and sell while the bitcoin ATMs averages about 20%. Most people look for ATMs when they are not in their locality and such high fees would certainly make them think of other ways to carry money.
I think the high percentage margin, is one of the bottlenecks why many of us is not using bitcoin ATM.
I, for example, would just transfer my money to my local exchange and convert it to fiat rather than get my fiat via ATM.
And I guess most of the bitcoin ATM users are those that wanted to try using this machine or they have no choice at that moment but to cash out some of their crypto.
But increasing the presence of bitcoin ATMs would lead some noncrypto users to check out this new currency, thus, may increase adoption in the process.
So Austria and Switzerland, with a population of 17 million have more ATMs than....all of Asia, Africa, and South America combined, 6.2 billion.
Actually, in terms of ATM/pop they are on par with the US.
AFAIK, Switzerland and Austria are both countries that quickly adapt to what's new. Austria had a lot of ATMs years ago when Romania only had one.Actually, in terms of ATM/pop they are on par with the US.
The thing is, the number might not be accurate. This totally depends on whether you also consider terminals that only sell Bitcoin as part of the ATM list too.
Romania has two providers that don't show up on CoinATMRadar for example unless you choose specific filters, and these providers are little machines you could only buy BTC from (they probably don't count as ATMs though). One of them is Qiwi which is also available in Russia, and as you can see we have a LOT of Qiwi terminals in Romania we could buy BTC from but those aren't counted among the 8k! The second terminal is NTS Pay which runs on the Qiwi soft too. NTS Pay probably doesn't show up on Coin ATM Radar even with specific filters.
Years ago we had ZebraPay selling Bitcoin too - there were thousands of terminals available literally at 2-3 streets away from you no matter where you lived. I guess it somehow went wrong now that they aren't selling crypto anymore.
So yeah, it totally depends whether you count these terminals too or not because if you do, then there are lots of options around you that you probably missed.
I have never used (and probably will never use) a Bitcoin ATM, but it's still good to have them around for people to see that BTC is a real thing that's being trusted. It's like a promo banner with practical utility
We need both increment in number of ATMs available and decrement in fees involved. Personal traders mostly provides a margin upto 10% of buy and sell while the bitcoin ATMs averages about 20%. Most people look for ATMs when they are not in their locality and such high fees would certainly make them think of other ways to carry money.
This isn't mass adoption unfortunately, because most of people aren't able to get facilities from that ATM machine. Expanding ATM machine on same jurisdiction isn't helping us. I believe even bitcoin ATM not available all countries those are bitcoin friendly. Although there is high transaction fees but it would be nice if its available all countries even with small quantities of ATM. It would help bitcoin adoption IMO. At least people would buy sell their bitcoin without hassle. But the problem is most of countries aren't accepting bitcoin. Don't know when we will see a mass adoption with bitcoin ATM all over the world.
Nice number, but there is only one problem in that story - more than 6200 crypto ATMs are located in the USA + almost 800 in Canada. So 7000 such ATMs are located on one continent, and the other 1000 are scattered around the rest of the world.
Well...they are not really that scattered
83.4% are in North America, and 14% are in Europe, leaving for the rest of the world 2.6%..just wow!
I'm one of the guys who constantly makes fun of that news about how BTC is going mainstream in whatever 3rd country is next in line for the revolution, but those numbers are pretty amazing even for me.
So Austria and Switzerland, with a population of 17 million have more ATMs than....all of Asia, Africa, and South America combined, 6.2 billion.
Actually, in terms of ATM/pop they are on par with the US.
Third world countries with favorable government regulations should welcome these companies and these companies should aggressively market their ATM's in those countries. The problem with these companies are that they are renting these machines at first world country tariffs, which is much higher than most third world countries can afford. 
The problem is not the companies, the problem is that people in 3rd world countries don't have one important thing, MONEY!
Without money, you can't buy BTC, the harsh reality that everyone tries to deny with random numbers pulled out of you know what by a crypto-journalists.
This is why 3rdworld countries don't have ATMs, don't have shops, don't have nodes, money!!!
Only 8000? I figured with the 2017/2018 boom we would have atleast 5x the amount.
Bitcoin adoption will not explode or go to the Moon, if these Bitcoin ATM manufacturers only concentrate on the USA. Your article says there are 8000+ Bitcoin ATM's globally and 6000+ are in the USA and that is where the problem is.
Third world countries with favorable government regulations should welcome these companies and these companies should aggressively market their ATM's in those countries. The problem with these companies are that they are renting these machines at first world country tariffs, which is much higher than most third world countries can afford.
A lot of people do not like Bitcoin ATM's, because they say they are adding unnecessarily high fees to Bitcoin transactions.
Third world countries with favorable government regulations should welcome these companies and these companies should aggressively market their ATM's in those countries. The problem with these companies are that they are renting these machines at first world country tariffs, which is much higher than most third world countries can afford.
A lot of people do not like Bitcoin ATM's, because they say they are adding unnecessarily high fees to Bitcoin transactions.
Worldwide is too broad a term, and a generalization that hides the fact that growth is basically taking place in the USA. If we break down growth by the main countries listed on Coinatmradar’s stats (https://coinatmradar.com/charts/growth/), only the USA is increasing it’s ATM base at a fast pace, whilst being behing the vast majority of existing ATMs worldwide. Europe is coming to a stall, Canada barely grows, UK and Austria decrease, Spain and Switzerland are flat.
I’ve no idea if the reason behind the above is cultural, law based, or investment related, but only the USA seems to be knee deep into the business.
I’ve no idea if the reason behind the above is cultural, law based, or investment related, but only the USA seems to be knee deep into the business.
true that what you say is the reality that actually happened, I also feel that most bitcoin atm is actually growing in the US. in my country there are only two big cities and many are visited by tourists, maybe to make it easier.
but with the passage of time they finally closed also because it was rarely used by tourists and coincidentally the country had issued rules.
only banknotes issued by the government and legitimate money may be used, others are not allowed.
Worldwide is too broad a term, and a generalization that hides the fact that growth is basically taking place in the USA. If we break down growth by the main countries listed on Coinatmradar’s stats (https://coinatmradar.com/charts/growth/), only the USA is increasing it’s ATM base at a fast pace, whilst being behing the vast majority of existing ATMs worldwide. Europe is coming to a stall, Canada barely grows, UK and Austria decrease, Spain and Switzerland are flat.
I’ve no idea if the reason behind the above is cultural, law based, or investment related, but only the USA seems to be knee deep into the business.
I’ve no idea if the reason behind the above is cultural, law based, or investment related, but only the USA seems to be knee deep into the business.
The number of crypto ATM's worldwide has grown to more than 8,000 just a month after passing the 7,000 mark in March.
It shows continued growth of Bitcoin and other cryptocurrency.
It shows continued growth of Bitcoin and other cryptocurrency.
Nice number, but there is only one problem in that story - more than 6200 crypto ATMs are located in the USA + almost 800 in Canada. So 7000 such ATMs are located on one continent, and the other 1000 are scattered around the rest of the world. This shows nothing more than that one part of the world is obviously making tremendous progress in that direction, while the rest is lagging far behind.
Buying and selling crypto on ATMs is obviously quite popular in North America, although in most cases it is the most expensive way to buy or sell crypto. But I think that such devices are not only a place to buy and sell, but also a kind of promotional points for Bitcoin. Some people are certainly interested in Bitcoin when they see such devices, probably because they equate it with ordinary fiat ATMs that have become so important for some time that there is a real panic when a mass breakdown occurs and people cannot get their money.
The number of crypto ATM's worldwide has grown to more than 8,000 just a month after passing the 7,000 mark in March.
According to the monitoring resource coinATMradar, there are currently 8,208 ATM's in 73 countries allowing users to buy and sell Bitcoin and Altcoins for Cash. More than 6,000 of them are in the United States.
https://cointelegraph.com/news/there-are-now-more-than-8-000-bitcoin-atms-worldwide
It makes people to have a convenient bitcoin transaction for those who are nearby ATM's machine.
It shows continued growth of Bitcoin and other cryptocurrency. The mass adoption for bitcoin will surely increase and someday many people now without knowledge in bitcoin will engage in cryptocurrency because as time passed,bitcoin became more and more popular and recognizable.
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