Three thousand Bitcoin ATM Installed In first quarter Of 2022

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Quote from: masterrex on April 18, 2022, 08:22:12 AM

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Bitcoin adoption hasbeen on a steady rise lately even though we have not seen much positive growth in the price of Bitcoin lately with Bitcoin having a six weeks downtrend in Bitcoin price, Bitcoin development has seen significant growth with new Bitcoin ATMs and POS which provide easy gateways. for Bitcoin transactions in other to aid p2p payments.
And also we saw how Bitcoin miner's activities have increased which is evident with the recent harsh rate all-time high which has happened consistently which indicate that miners' activities are growing despite the many regulations and attack with a ban on mining and the proposed movement from proof of work to proof of stake which many sees as a set back to the original content of Bitcoin. That being said Bitcoin has gained a wide range of publicity lately and that is what increases the number of Bitcoin services such as the ATMs being installed all around.

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Wow that was amazing information about the Bitcoin development despite all of the attacks on Bitcoin and hostile regulation issues Bitcoin and the crypto industry manage to expand their services Imagine another three thousand Bitcoin ATMs were added for me that's living proof and testament for a continued Bitcoin and cryptocurrency development and I hope it will continue further.

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Quote from: Wiwo on April 04, 2022, 11:51:18 AM

As the rate of Bitcoin ATM increased it has become evident that holders of Bitcoin can spend their Bitcoin at any shops or outlet, this give Bitcoin the mainstream adoption and the rate of Bitcoin ATM increase to a very high and the previous year 2021 saw where bitcoin ATM we're installed in gas stations and now pos outlets now accept Bitcoin debit cards for various transactions/payment. About 20,000 Bitcoin ATM was installed in 2021 and that has not stopped as the have been an installation of over 3,000 Bitcoin ATM in the first quarter of the year 2022. This data was show on the news:
https://news.bitcoin.com/tracker-shows-close-to-3000-crypto-atms-were-installed-in-2022s-first-quarter/

This would be a great initiative from bitcoin supporters around the world, in my own location there are couple of Bitcoin ATM installed late last year and this year.

so with all these thousand of new ATM having in various strategic locations , I'm sure the demand and circulation will increase and will have the best result in this whole year alone.

Thank you for this trivia.

Quote from: molsewid on April 07, 2022, 10:05:32 AM

Quote from: virasog on April 07, 2022, 04:25:44 AM

Once we have more and more bitcoin ATMs installed in first-world countries, there are higher probabilities that the under developed countries will follow the same practice. However, only those county can install these public ATMs where the government have no problem with these installations. If bitcoin is not legal in any country, there is no way we can see those machines in those countries. Making bitcoin legal in countries is the first major sign of bitcoin adoption.

That's a good thing if ever the first-world countries initiate first to installed ATMs of bitcoin which I believe will provide a higher possibility to boost the bitcoin adoption all over the world. Here in my country, I haven't seen any bitcoin atm machine existing so far which of course I am looking forward to seeing it here in our country available. But now, since it is not yet accepted as a legal tender hoping that bitcoin atm will be possibly be installed in our country is so far impossible.

it is always best for improvement , because we are in the world now in which online payment will be on the table and we need more ATM's for best result on this .

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3000 bitcoin ATMs installed since 2022 is not such a small number of course this is very much awaited by bitcoin miners and hopes that the following years will increase the number of bitcoin ATMs, which indirectly makes bitcoin more popular and so many favored by miners and the public.we really hope that bitcoin ATMs can be added again in the following years

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This is good news. Knowing thousands of bitcoin atm machines has been installed only in the first quarter of 2022 means there are more to come on the next quarters. And I'm proud that my country also have this in the city despite of being classified a third world country. And I'm sure that sooner or later we can finally see a world where large percentage of people are into bitcoin or other cryptocurrencies. Probably the right time to add more bitcoin.

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Quote from: Wiwo on April 04, 2022, 11:51:18 AM

As the rate of Bitcoin ATM increased it has become evident that holders of Bitcoin can spend their Bitcoin at any shops or outlet, this give Bitcoin the mainstream adoption and the rate of Bitcoin ATM increase to a very high and the previous year 2021 saw where bitcoin ATM we're installed in gas stations and now pos outlets now accept Bitcoin debit cards for various transactions/payment. About 20,000 Bitcoin ATM was installed in 2021 and that has not stopped as the have been an installation of over 3,000 Bitcoin ATM in the first quarter of the year 2022. This data was show on the news:
https://news.bitcoin.com/tracker-shows-close-to-3000-crypto-atms-were-installed-in-2022s-first-quarter/

Bitcoin integration does not depend on the number of ATMs. The most important thing is the BTC integration of bank payment for companies and individuals, not cash.

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Quote from: molsewid on April 07, 2022, 10:05:32 AM

Quote from: virasog on April 07, 2022, 04:25:44 AM

Once we have more and more bitcoin ATMs installed in first-world countries, there are higher probabilities that the under developed countries will follow the same practice. However, only those county can install these public ATMs where the government have no problem with these installations. If bitcoin is not legal in any country, there is no way we can see those machines in those countries. Making bitcoin legal in countries is the first major sign of bitcoin adoption.

That's a good thing if ever the first-world countries initiate first to installed ATMs of bitcoin which I believe will provide a higher possibility to boost the bitcoin adoption all over the world. Here in my country, I haven't seen any bitcoin atm machine existing so far which of course I am looking forward to seeing it here in our country available. But now, since it is not yet accepted as a legal tender hoping that bitcoin atm will be possibly be installed in our country is so far impossible.

Lucky are those countries that have Bitcoin ATMs installed and ready to use by most crypto users for they will be able to use their Bitcoins without any hassle. It will surely be another reason for more people to adapt and use Bitcoin as a currency. I hope that more countries would also experience using Bitcoin ATMs in the future because it would really cause convenience for all of us.

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Quote from: virasog on April 07, 2022, 04:25:44 AM

Once we have more and more bitcoin ATMs installed in first-world countries, there are higher probabilities that the under developed countries will follow the same practice. However, only those county can install these public ATMs where the government have no problem with these installations. If bitcoin is not legal in any country, there is no way we can see those machines in those countries. Making bitcoin legal in countries is the first major sign of bitcoin adoption.

That's a good thing if ever the first-world countries initiate first to installed ATMs of bitcoin which I believe will provide a higher possibility to boost the bitcoin adoption all over the world. Here in my country, I haven't seen any bitcoin atm machine existing so far which of course I am looking forward to seeing it here in our country available. But now, since it is not yet accepted as a legal tender hoping that bitcoin atm will be possibly be installed in our country is so far impossible.

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Quote from: romero121 on April 04, 2022, 11:58:44 AM

Bitcoin adoption around the globe is increasing with time. The installation of 3000 more bitcoin ATMs are a proof for the same. Though there is regular installation of bitcoin ATM, it isn't possible to see the same diversified around the globe. Only in specific locations the bitcoin ATMs were getting installed. Maybe this need to get diversified beyond the first world countries where 90% of the bitcoin ATMs were installed.

Once we have more and more bitcoin ATMs installed in first world countries, there are higher probabilities that the under developed countries will follow the same practice. However, only those county can install these public ATMs where the government have no problem with these installations. If bitcoin is not legal in any country, there is no way we can see those machines in those countries. Making bitcoin legal in countries is the first major sign of bitcoin adoption.

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Quote from: peter0425 on April 06, 2022, 04:57:27 AM

While there are many ATM's being installed worldwide , my question is do the ATM machines for Bitcoin really receiving support from users?

if yes then this is indeed great news but what if people has more option in trading their bitcoin into fiat and vise versa?

like in my region , there are so many places where i can buy and sell bitcoin or couple of altcoins without the need to go in ATM machines in which mostly installed in strategic places?

but yes this is one proof that the increase of Bitcoin user worldwide is really spreading .

Depending on the region you are in. Sometimes you do not "need" a business, but it is better to have alternatives and in some regions it is like that. We do have a grocery store around my house for example, but there are 3 more in a 2 mile radius too, should we close them all down?

It is basically a competition type of deal and I believe that it is working quite well. ATM for bitcoin is just an idea and provides an alternative to people who would like to use them, people who do not trust exchanges and that is how they get their coins. It is not super simple to use, but it is not difficult at all neither. Hence why it has been established in so many new places.

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Quote from: DdmrDdmr on April 06, 2022, 04:11:09 AM

My guess is that, within Europe, separate charts for specific countries were created to enable a visual drill-down on some of the major countries where ATMs were making a significant rise, and reached a respectable volume (the view wasn’t always like that).

Negative increases are decreases (there are less ATMs now in some countries than at the beginning of the year).

Currently, KYC will vary from country to country as per their regulations, and it could range from being necessary for any TX, to being necessary for TXs above a certain threshold. The KYC itself, when required, can sometimes be a scan of your Id, but in other instances providing a cell phone will suffice (you’d normally need to have it handy to complete the TX though, since they'd normally send you and SMS with a code that you need to complete the TX).

Oh, forget it. I missed that the 1st column is actually the most recent date. And 2nd column is the oldest date. I missed that detail when I first look at the table/chart and for instance for UK I was seeing 23 ATMs at the beginning of the year and 99 as of now. So, this would be an increase. However, the 3rd column is showing -76 which was weird to me. But I just noticed that the 1st column is is actually the most recent date! Forget it! :p

Quote from: bakasabo on April 06, 2022, 04:18:37 AM

Quote from: darkv0rt3x on April 06, 2022, 02:59:26 AM

Why are some European countries separated from Europe even if they are part of Europe? Like Spain and Switzerland? Any special reason? Also, why is an increase in the number of ATMs represented as a negative number? Anyway, 2k machines in the USA is an amazing increase. I would like to see more in my own country, despite the fact that the fees are probably too high.

Does these machines have any kyc??

I think there we see separate countries just to stress where most of European ATM situated. If they post 1000 ATM in Europe, people might think that they would find an ATM in every European country, but in reality it might turn that 500 ATMs are in Spain, 499 in Austria and 1 in "rest Europe". For example it is said that Europe has 1378 ATM units, while there is 0 in my country and coinatmradar.com shows we have dozens of them (answer - little shops that accept Bitcoin (I havent checked that info) mark themselves (or coinatmradar does) as an ATM).

Yeah, maybe, probably. Anyway, an increase is always good. However, there is many people still concerned with KYC and high fees.

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Quote from: DdmrDdmr on April 04, 2022, 12:48:25 PM

To try to see where the increase of bitcoin ATMs takes place during Q1, we can take a look at the growth chart and subsequent territorial charts. The readings are slightly shifted from those in the article (slight date shift), but boil down to:

Code:

Area                          01/04/2022    01/01/2022      Diff Q1        
WorldWide                     36.656         34.293         2.363          
                                                                           
Europe                        1.378          1.398          -20            
USA                           32.223         30.068         2.155          
Canada                        2.346          2.159          187            
UK                            23             99             -76            
Austria                       137            140            -3             
Spain                         196            171            25             
Switzerland                   142            137            5

Q1 is really closer to 2K (2.363) than 3K (which is what the article states), but leaving that aside, growth during Q1 is essentially concentrated in the US and at a far distance by Canada.

I am not surprised to see that the number of ATMs in Europe and the UK has decreased. What happened in the UK has already been commented on the forum:

Bitcoin ATMs forced to shutdown in the UK

In Europe I guess it is more or less the same: implementation of stricter KYC/AML policies.

The only attraction that this type of ATMs can have is to buy/sell without KYC, as they have very high fees, and to pay those fees and on top of that with KYC, better to buy or sell where the fees are considerably lower.

There may be other specific cases of people who like to try ATM with small amounts, but non-KYC seems to me to be the main reason to use them.

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Quote from: romero121 on April 04, 2022, 11:58:44 AM

Bitcoin adoption around the globe is increasing with time. The installation of 3000 more bitcoin ATMs are a proof for the same. Though there is regular installation of bitcoin ATM, it isn't possible to see the same diversified around the globe. Only in specific locations the bitcoin ATMs were getting installed. Maybe this need to get diversified beyond the first world countries where 90% of the bitcoin ATMs were installed.

I do agree with you. I would love to see it diversified to other nations aside first world countries. I am thrilled to find out that there are a total of 14 Bitcoin ATMs in South Africa according to Coin ATM Radar. The highest in Africa. Other countries where Bitcoin machines are located are: Nigeria (1), Kenya (1), Djibouti (1), Ghana (2), Botswana (1), Zimbabwe (1), Uganda (1). However, it's hard to tell if the machine actually work in some of these locations.

https://www.talk-business.co.uk/2020/12/23/bitcoin-atms-how-they-work-and-where-to-find-them-in-africa/#:~:text=Ghana%20bitcoin%20ATMs,is%20a%20local%20IT%20firm.

https://en.wikipedia.org/wiki/Bitcoin_ATM#:~:text=There%20are%20a%20total%20of,%2C%20Durban%2C%20Johannesburg%20and%20Pretoria.

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Quote from: xSkylarx on April 05, 2022, 08:08:29 AM

Quote from: tabas on April 05, 2022, 07:43:20 AM

Is someone from the forum who's into this business? I've got someone, a stranger, who got to message me how to setup this type of business but eventually he's gone and I think that person has an ill intention to scam me. But as for the information that he has talked to me about this bitcoin atm business, it makes sense to me and that's why I think there's a viable reason why they keep coming and being installed gradually and I think it's a good business these days if there's no one yet into an area or city.

I've seen some guides from @DdmrDdmr source that really require a lot of effort to setup, but this is good business. I will leave the link below. But first, you must determine whether bitcoin is legal or illegal in your country, because you cannot operate it if it is illegal.From what I researched, you need to first buy the bitcoin machine (you need to research any local dealers of this machine). For the US, there is Chainbytes, and then you need to register the machine for compliance. For the US, you need to register it in BTMCompliance. After registering, you need to setup the wallet and also decide where you would like to put your machine. There are a lot of tutorials online, but you really need to state where you are planning to put this so that you can find a reliable source for getting the machine and registering it.

Sources : https://coinatmradar.com/how-to-start-bitcoin-atm-business/
https://www.chainbytes.com/how-to-start-bitcoin-atm-business-operation/

Yes, I also think that it's actually a good business at all. With still a lot of missing in each area, there could be a great market in those crowded places if someone is going to put them there.
Well, for those countries where it isn't illegal, it's easy to make up for it but the setup and other things of putting it up are the problems. I think it makes sense that person has messaged me but also probably attempted to scam me but he has given some interesting insights about this business.
Thank you for the links, mate!

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Quote from: peter0425 on April 06, 2022, 04:57:27 AM

Quote from: Wiwo on April 04, 2022, 11:51:18 AM

As the rate of Bitcoin ATM increased it has become evident that holders of Bitcoin can spend their Bitcoin at any shops or outlet, this give Bitcoin the mainstream adoption and the rate of Bitcoin ATM increase to a very high and the previous year 2021 saw where bitcoin ATM we're installed in gas stations and now pos outlets now accept Bitcoin debit cards for various transactions/payment. About 20,000 Bitcoin ATM was installed in 2021 and that has not stopped as the have been an installation of over 3,000 Bitcoin ATM in the first quarter of the year 2022. This data was show on the news:
https://news.bitcoin.com/tracker-shows-close-to-3000-crypto-atms-were-installed-in-2022s-first-quarter/

While there are many ATM's being installed worldwide , my question is do the ATM machines for Bitcoin really receiving support from users?

if yes then this is indeed great news but what if people has more option in trading their bitcoin into fiat and vise versa?

like in my region , there are so many places where i can buy and sell bitcoin or couple of altcoins without the need to go in ATM machines in which mostly installed in strategic places?

but yes this is one proof that the increase of Bitcoin user worldwide is really spreading .

Even without checking the statistic, you will notice that it is due to the increase in bitcoin adoption by users that call for the increase in the number of Bitcoin ATMs if the number of bitcoin ATMs is on the decline it is then we will say the Bitcoin ATM initiative is not seeing support from the people but this one that the number keeps increasing it shows the level of demands.

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Quote from: Wiwo on April 04, 2022, 11:51:18 AM

As the rate of Bitcoin ATM increased it has become evident that holders of Bitcoin can spend their Bitcoin at any shops or outlet, this give Bitcoin the mainstream adoption and the rate of Bitcoin ATM increase to a very high and the previous year 2021 saw where bitcoin ATM we're installed in gas stations and now pos outlets now accept Bitcoin debit cards for various transactions/payment. About 20,000 Bitcoin ATM was installed in 2021 and that has not stopped as the have been an installation of over 3,000 Bitcoin ATM in the first quarter of the year 2022. This data was show on the news:
https://news.bitcoin.com/tracker-shows-close-to-3000-crypto-atms-were-installed-in-2022s-first-quarter/

While there are many ATM's being installed worldwide , my question is do the ATM machines for Bitcoin really receiving support from users?

if yes then this is indeed great news but what if people has more option in trading their bitcoin into fiat and vise versa?

like in my region , there are so many places where i can buy and sell bitcoin or couple of altcoins without the need to go in ATM machines in which mostly installed in strategic places?

but yes this is one proof that the increase of Bitcoin user worldwide is really spreading .

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Quote from: Wiwo on April 04, 2022, 11:51:18 AM

About 20,000 Bitcoin ATM was installed in 2021 and that has not stopped as the have been an installation of over 3,000 Bitcoin ATM in the first quarter of the year 2022. This data was show on the news:
https://news.bitcoin.com/tracker-shows-close-to-3000-crypto-atms-were-installed-in-2022s-first-quarter/

Just a quick question for everyone, has anyone tried using any Bitcoin ATMs installed in your respective countries? Are the transaction fees high; and is the process also relatively fast? So how would this operate- the Bitcoin ATM would issue currency after such exchange?

Fortunately in the Philippines, our local exchanges offer instant conversion from Bitcoin to our currency (Peso) in which you can directly pay your bills or purchase any products/services. The only downside is, the conversion rates in our exchanges are abysmal to the point that the price gap compared when you purchase vs sell is just high.

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Quote from: darkv0rt3x on April 06, 2022, 02:59:26 AM

Why are some European countries separated from Europe even if they are part of Europe? Like Spain and Switzerland? Any special reason? Also, why is an increase in the number of ATMs represented as a negative number? Anyway, 2k machines in the USA is an amazing increase. I would like to see more in my own country, despite the fact that the fees are probably too high.

Does these machines have any kyc??

I think there we see separate countries just to stress where most of European ATM situated. If they post 1000 ATM in Europe, people might think that they would find an ATM in every European country, but in reality it might turn that 500 ATMs are in Spain, 499 in Austria and 1 in "rest Europe". For example it is said that Europe has 1378 ATM units, while there is 0 in my country and coinatmradar.com shows we have dozens of them (answer - little shops that accept Bitcoin (I havent checked that info) mark themselves (or coinatmradar does) as an ATM).

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My guess is that, within Europe, separate charts for specific countries were created to enable a visual drill-down on some of the major countries where ATMs were making a significant rise, and reached a respectable volume (the view wasn’t always like that).

Negative increases are decreases (there are less ATMs now in some countries than at the beginning of the year).

Currently, KYC will vary from country to country as per their regulations, and it could range from being necessary for any TX, to being necessary for TXs above a certain threshold. The KYC itself, when required, can sometimes be a scan of your Id, but in other instances providing a cell phone will suffice (you’d normally need to have it handy to complete the TX though, since they'd normally send you and SMS with a code that you need to complete the TX).

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Quote from: DdmrDdmr on April 04, 2022, 12:48:25 PM

To try to see where the increase of bitcoin ATMs takes place during Q1, we can take a look at the growth chart and subsequent territorial charts. The readings are slightly shifted from those in the article (slight date shift), but boil down to:

Code:

Area                          01/04/2022    01/01/2022      Diff Q1        
WorldWide                     36.656         34.293         2.363          
                                                                           
Europe                        1.378          1.398          -20            
USA                           32.223         30.068         2.155          
Canada                        2.346          2.159          187            
UK                            23             99             -76            
Austria                       137            140            -3             
Spain                         196            171            25             
Switzerland                   142            137            5

Q1 is really closer to 2K (2.363) than 3K (which is what the article states), but leaving that aside, growth during Q1 is essentially concentrated in the US and at a far distance by Canada.

Why are some European countries separated from Europe even if they are part of Europe? Like Spain and Switzerland? Any special reason? Also, why is an increase in the number of ATMs represented as a negative number? Anyway, 2k machines in the USA is an amazing increase. I would like to see more in my own country, despite the fact that the fees are probably too high.

Does these machines have any kyc??

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Quote from: GeorgeJohn on April 05, 2022, 07:35:20 AM

The statistics suppose to be higher than portrayed statistics because bitcoin has turn to universal currency which no country today that's not aware of cryptocurrency, so beside bitcoin ATM supposed to be viral because it currency is decentralized and has already dominate half of the world, so Bitcoin is financial freedom.

Well to some extent I agree with you the number of Bitcoin ATM should be more than what we currently having since Bitcoin have gain mainstream adoption but then we should not forget the many set back that a decentralized currency will face in a centralized cycle were the government feels since they can't control Bitcoin their will have to undermined it growth this is why we are not seeing rapid increase in the number of BTC ATMs but I know with time the narrative is going to change.

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Quote from: taufik123 on April 05, 2022, 11:29:48 AM

Quote from: Leviathan.007 on April 05, 2022, 04:26:44 AM

Indeed, the bitcoin adoption all over the world is increasing and the speed of this process is increasing as well, a few years ago there were a few installed bitcoin ATMs and just in a few countries while none could even imagine the installation of more than 3000 ATMs just in the first quarter of the year 2022 which is really huge amount of atm for bitcoin, however in order to use these machines passing KYC is always necessary and this can be a negative point of the story of bitcoin ATMs

Meanwhile, the UK is currently shutting down all Bitcoin ATMs and banning them.
This is because there is no official permit to operate Bitcoin ATMs and bitcoin ATMs can be a loophole which regulators fear will be exploited by money launderers and illegal businesses to use janitors and make small transactions to avoid being noticed by the authorities.
https://www.bbc.com/news/technology-60709209

Therefore, KYC is indeed needed so that bitcoin ATMs are not used as a place for transactions for crime. There will be positive and negative points. Bitcoin ATMs still need development in order to comply with existing regulations and not become a place for criminal transactions.

Crypto ATM closures also occurred in Singapore after the Monetary Authority of Singapore (MAS) banned cash-to-crypto terminals as part of a wider crackdown on cryptocurrency advertising to the public.
fortune.com/2022/01/19/singapore-cryptocurrency-regulation-bitcoin-atm/
even though Singapore is one of the cryptocurrency-friendly countries

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Quote from: Leviathan.007 on April 05, 2022, 04:26:44 AM

Indeed, the bitcoin adoption all over the world is increasing and the speed of this process is increasing as well, a few years ago there were a few installed bitcoin ATMs and just in a few countries while none could even imagine the installation of more than 3000 ATMs just in the first quarter of the year 2022 which is really huge amount of atm for bitcoin, however in order to use these machines passing KYC is always necessary and this can be a negative point of the story of bitcoin ATMs

Meanwhile, the UK is currently shutting down all Bitcoin ATMs and banning them.
This is because there is no official permit to operate Bitcoin ATMs and bitcoin ATMs can be a loophole which regulators fear will be exploited by money launderers and illegal businesses to use janitors and make small transactions to avoid being noticed by the authorities.
https://www.bbc.com/news/technology-60709209

Therefore, KYC is indeed needed so that bitcoin ATMs are not used as a place for transactions for crime. There will be positive and negative points. Bitcoin ATMs still need development in order to comply with existing regulations and not become a place for criminal transactions.

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Quote from: Leviathan.007 on April 05, 2022, 04:26:44 AM

Quote from: romero121 on April 04, 2022, 11:58:44 AM

Bitcoin adoption around the globe is increasing with time. The installation of 3000 more bitcoin ATMs are a proof for the same. Though there is regular installation of bitcoin ATM, it isn't possible to see the same diversified around the globe. Only in specific locations the bitcoin ATMs were getting installed. Maybe this need to get diversified beyond the first world countries where 90% of the bitcoin ATMs were installed.

Indeed, the bitcoin adoption all over the world is increasing and the speed of this process is increasing as well, a few years ago there were a few installed bitcoin ATMs and just in a few countries while none could even imagine the installation of more than 3000 ATMs just in the first quarter of the year 2022 which is really huge amount of atm for bitcoin, however in order to use these machines passing KYC is always necessary and this can be a negative point of the story of bitcoin ATMs

I haven't had a chance to use Bitcoin ATM yet but if the usage involves KYC, I think I won't use them in the future. The fact that more and more Bitcoin ATM are installed is a good thing and hopefully Bitcoin will be widely used around the world. But with the KYC requirement it is a minus point, it is no different from our using a centralized exchange.

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Take those numbers with a large amount of skepticism. There are many listed that no longer exist.
Some are in stores that have not been open for months.
Other machines and even entire businesses that have BATMs are not listed at all as far as I can see.

For some reason LibertyX does not seem to want their machines listed.

So

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Quote from: tabas on April 05, 2022, 07:43:20 AM

Is someone from the forum who's into this business? I've got someone, a stranger, who got to message me how to setup this type of business but eventually he's gone and I think that person has an ill intention to scam me. But as for the information that he has talked to me about this bitcoin atm business, it makes sense to me and that's why I think there's a viable reason why they keep coming and being installed gradually and I think it's a good business these days if there's no one yet into an area or city.

I've seen some guides from @DdmrDdmr source that really require a lot of effort to setup, but this is good business. I will leave the link below. But first, you must determine whether bitcoin is legal or illegal in your country, because you cannot operate it if it is illegal.From what I researched, you need to first buy the bitcoin machine (you need to research any local dealers of this machine). For the US, there is Chainbytes, and then you need to register the machine for compliance. For the US, you need to register it in BTMCompliance. After registering, you need to setup the wallet and also decide where you would like to put your machine. There are a lot of tutorials online, but you really need to state where you are planning to put this so that you can find a reliable source for getting the machine and registering it.

Sources : https://coinatmradar.com/how-to-start-bitcoin-atm-business/
https://www.chainbytes.com/how-to-start-bitcoin-atm-business-operation/

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Is someone from the forum who's into this business? I've got someone, a stranger, who got to message me how to setup this type of business but eventually he's gone and I think that person has an ill intention to scam me. But as for the information that he has talked to me about this bitcoin atm business, it makes sense to me and that's why I think there's a viable reason why they keep coming and being installed gradually and I think it's a good business these days if there's no one yet into an area or city.

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Quote from: hajirkhalid2 on April 04, 2022, 09:35:01 PM

This is really good news three thousand Bitcoin ATM installed in first quarter of 2022. Cryptocurrency is the future of finance and money also but Bitcoin is the decentralised currency.

The statistics suppose to be higher than portrayed statistics because bitcoin has turn to universal currency which no country today that's not aware of cryptocurrency, so beside bitcoin ATM supposed to be viral because it currency is decentralized and has already dominate half of the world, so Bitcoin is financial freedom.

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Quote from: yazher on April 05, 2022, 06:32:22 AM

This is one indication that we are not turning back again and we are gonna proceed and step forward with our new normal regarding our financial activities.

That indication is the thrilling point for me, not minding that Africa is nowhere to be found in this scheme of things towards mass adoption for Bitcoin. Governments in Africa are busy making attempts to dissuade their citizens from actively indulging in this new tech. Reason isn't far fetched from the fact that they don't want financial freedom for their people. Look at where the world is today, and look at how Africa lags behind in far distance. It's a shame, really.

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This is one indication that we are not turning back again and we are gonna proceed and step forward with our new normal regarding our financial activities. The growth of the crypto industry for the past years has no matched compared to this year's growth we are still in Q1 and many positive things have already happened. If we still have this kind of massive ATM installation all around the world this upcoming months, prepare for the positive impact and increase of the price. People are slowly making changes about adopting cryptocurrencies and it would be good if we will have another bull-run this year too.

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Quote from: Anguwa on April 05, 2022, 05:09:13 AM

<…>

That is something to consider on a country basis y country. Even within a single country, the specific ATM company you are going to be using may vary in requirements from the next. Overall, some, to date, still do not require KYC under a certain threshold; others require you to provide a phone number, whilst some require KYC with Id Scans and so forth.

The information they therefore have on you will vary depending on their KYC policy, subject to the country’s legislation on the matter (which can and will vary as time goes by). Now from there on, an ATM company is going to be in possession of the information it obtains, and besides forwarding some to the taxation office if required, it may or may not make proper custody of your data (as any other company). We see leaks and hacks in general terms rather frequently, and any company is potentially subject to it.

One additional thing to consider is how you carry out your address management when using ATMs or other entities. Normally you should consider the strategy you need to use in order for a merchant/corporation from being able to snoop through your complete/partial TX history, and even more so if it could be tied to KYC information.

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I cannot see an increase with the figures given. If the year 2021 saw an installation of 20,000 Bitcoin ATMs, and in the first quarter of the year 2022 saw only 3,000, then within this year the number of Bitcoin ATMs installed might decrease compared to last year. That is, if the remaining quarters of the year would only have around 3,000 Bitcoin ATM installation each. So the rate of Bitcoin ATM installation doesn't have a high increase. 2021 had a high increase. 2022 will have a decrease.

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Quote from: DdmrDdmr on April 04, 2022, 12:48:25 PM

To try to see where the increase of bitcoin ATMs takes place during Q1, we can take a look at the growth chart and subsequent territorial charts. The readings are slightly shifted from those in the article (slight date shift), but boil down to:

Code:

Area 01/04/2022 01/01/2022 Diff Q1
WorldWide 36.656 34.293 2.363

Europe 1.378 1.398 -20
USA 32.223 30.068 2.155
Canada 2.346 2.159 187
UK 23 99 -76
Austria 137 140 -3
Spain 196 171 25
Switzerland 142 137 5

Q1 is really closer to 2K (2.363) than 3K (which is what the article states), but leaving that aside, growth during Q1 is essentially concentrated in the US and at a far distance by Canada.

I don't have adequate knowledge about Bitcoin, but the little I have made think otherwise. So pls I am to ask this question.
If this Bitcoin ATM safe?. Knowing the due processes involved when spending your Bitcoin from your personal wallets made me to think of how safe our personal details will be in the ATM.
Pls shade more light.

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Quote from: romero121 on April 04, 2022, 11:58:44 AM

Bitcoin adoption around the globe is increasing with time. The installation of 3000 more bitcoin ATMs are a proof for the same. Though there is regular installation of bitcoin ATM, it isn't possible to see the same diversified around the globe. Only in specific locations the bitcoin ATMs were getting installed. Maybe this need to get diversified beyond the first world countries where 90% of the bitcoin ATMs were installed.

Indeed, the bitcoin adoption all over the world is increasing and the speed of this process is increasing as well, a few years ago there were a few installed bitcoin ATMs and just in a few countries while none could even imagine the installation of more than 3000 ATMs just in the first quarter of the year 2022 which is really huge amount of atm for bitcoin, however in order to use these machines passing KYC is always necessary and this can be a negative point of the story of bitcoin ATMs

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Quote from: Ale88 on April 04, 2022, 11:41:00 PM

Quote from: cabron on April 04, 2022, 08:24:09 PM

Privacy concern is probably one reason.

Yes and no, mainly because someone who is going to buy bitcoin at an ATM probably is going to get only a few hundred dollars, not big quantities. And as far as I remember those ATM don't have very good prices but again if you buy only $100-200 you won't even notice that.

Right I will rather choose to spend on the Bitcoin ATM rather than buy, my most satisfaction will be when I can easily pay at a coffee shop with my Bitcoin debit card or using my Bitcoin card in a shopping mall 🏬 to pay for glossaries.
On the issue of kyc I think KYC is only required when you are about to make a Bitcoin purchase over the Bitcoin ATM.

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Quote from: cabron on April 04, 2022, 08:24:09 PM

Privacy concern is probably one reason.

Yes and no, mainly because someone who is going to buy bitcoin at an ATM probably is going to get only a few hundred dollars, not big quantities. And as far as I remember those ATM don't have very good prices but again, if you buy only $100-200 you won't even notice that.

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This is really good news three thousand Bitcoin ATM installed in first quarter of 2022. Cryptocurrency is the future of finance and money also but Bitcoin is the decentralised currency.

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Quote from: Ale88 on April 04, 2022, 08:00:54 PM

Quote from: Wiwo on April 04, 2022, 11:51:18 AM

As the rate of Bitcoin ATM increased it has become evident that holders of Bitcoin can spend their Bitcoin at any shops or outlet, this give Bitcoin the mainstream adoption and the rate of Bitcoin ATM increase to a very high and the previous year 2021 saw where bitcoin ATM we're installed in gas stations and now pos outlets now accept Bitcoin debit cards for various transactions/payment. About 20,000 Bitcoin ATM was installed in 2021 and that has not stopped as the have been an installation of over 3,000 Bitcoin ATM in the first quarter of the year 2022. This data was show on the news:
https://news.bitcoin.com/tracker-shows-close-to-3000-crypto-atms-were-installed-in-2022s-first-quarter/

Personally I highly doubt I'll ever buy bitcoins from an ATM but it's nice to see that other people can do it, maybe some of them will buy just out of curiosity. And another thing: if there are people/companies that keep investing money in these ATMs, it means that they are getting a good feedback!

Privacy concern is probably one reason. Come when there will be a crackdown, it is safer to stay out of the radar even before it starts.

It's not really 3K but less this Q1 of the year but convincing enough to say people must have been buying BTC thru the ATMS installed in the cities.
It would be interesting to see the demographics of who is buying from the machines, I suspect the majority are teens, and it's for gambling reasons.

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Quote from: Wiwo on April 04, 2022, 11:51:18 AM

As the rate of Bitcoin ATM increased it has become evident that holders of Bitcoin can spend their Bitcoin at any shops or outlet, this give Bitcoin the mainstream adoption and the rate of Bitcoin ATM increase to a very high and the previous year 2021 saw where bitcoin ATM we're installed in gas stations and now pos outlets now accept Bitcoin debit cards for various transactions/payment. About 20,000 Bitcoin ATM was installed in 2021 and that has not stopped as the have been an installation of over 3,000 Bitcoin ATM in the first quarter of the year 2022. This data was show on the news:
https://news.bitcoin.com/tracker-shows-close-to-3000-crypto-atms-were-installed-in-2022s-first-quarter/

Personally I highly doubt I'll ever buy bitcoins from an ATM but it's nice to see that other people can do it, maybe some of them will buy just out of curiosity. And another thing: if there are people/companies that keep investing money in these ATMs, it means that they are getting a good feedback!

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Quote from: PrivacyG on April 04, 2022, 02:31:55 PM

Are there any approximate metrics for how many of these have mandatory Know Your Customer integrated?

Isn't that this is really the case of all Bitcoin ATM? KYC integrated?
But not most of them are government regulated or has permit to operate in that specific place. That's some of these got confiscated and forcely closed.

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Quote from: PrivacyG on April 04, 2022, 02:31:55 PM

Are there any approximate metrics for how many of these have mandatory Know Your Customer integrated?

I'm not aware if any such information is compiled already, but you can research on the individual manufacturers of Bitcoin ATMs and check up their privacy policy.

From content I've followed on the forum, it appears majority of ATMs have a sort of private gateway which is needed to verify your identity, this could be a mobile number.

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Although bitcoin ATMs are a great way to spread the word of bitcoin and integrate it better in the society (the more the better) but they still have one big downside and that is the high fees which can reach upto 15% in some ATMs.traditional ATMs on the other hand don't have a withdraw fee and even if they do it's usually just couple dollars so i think that bitcoin ATMs still have a big room to improve to become trully viable.

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Over the years we have being hearing of bitcoin ATM machine but is not as much as fiat ATM machine and i began to for the reason why bitcoin deposit and debit machine is everywhere like fiat machine, is not that we don't have massive adoption of cryptocurrency or the people who don't want to use those machines, while bitcoin ATM machine is hidden?

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Are there any approximate metrics for how many of these have mandatory Know Your Customer integrated? While the numbers are definitely on a rise, I am afraid the news does not put me on as much hopium as I wish it did. Call me boring but long as Know Your Customer is enforced, it is not like they help with anything besides taking a big cut of your money AND forcing you to give up personal information.

-
Regards,
PrivacyG

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To try to see where the increase of bitcoin ATMs takes place during Q1, we can take a look at the growth chart and subsequent territorial charts. The readings are slightly shifted from those in the article (slight date shift), but boil down to:

Code:

Area 01/04/2022 01/01/2022 Diff Q1
WorldWide 36.656 34.293 2.363

Europe 1.378 1.398 -20
USA 32.223 30.068 2.155
Canada 2.346 2.159 187
UK 23 99 -76
Austria 137 140 -3
Spain 196 171 25
Switzerland 142 137 5

Q1 is really closer to 2K (2.363) than 3K (which is what the article states), but leaving that aside, growth during Q1 is essentially concentrated in the US and at a far distance by Canada.

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Bitcoin adoption around the globe is increasing with time. The installation of 3000 more bitcoin ATMs are a proof for the same. Though there is regular installation of bitcoin ATM, it isn't possible to see the same diversified around the globe. Only in specific locations the bitcoin ATMs were getting installed. Maybe this need to get diversified beyond the first world countries where 90% of the bitcoin ATMs were installed.

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As the rate of Bitcoin ATM increased it has become evident that holders of Bitcoin can spend their Bitcoin at any shops or outlet, this give Bitcoin the mainstream adoption and the rate of Bitcoin ATM increase to a very high and the previous year 2021 saw where bitcoin ATM we're installed in gas stations and now pos outlets now accept Bitcoin debit cards for various transactions/payment. About 20,000 Bitcoin ATM was installed in 2021 and that has not stopped as the have been an installation of over 3,000 Bitcoin ATM in the first quarter of the year 2022. This data was show on the news:
https://news.bitcoin.com/tracker-shows-close-to-3000-crypto-atms-were-installed-in-2022s-first-quarter/

Topic: Three thousand Bitcoin ATM Installed In first quarter Of 2022 (Read 479 times)