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cafucafucafu

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Quote from: Gibbar on August 11, 2017, 03:55:10 PM

Last week I went to the only bitcoin ATM that was nearby that both bought and sold coin. Had to travel 8 miles, was in use when i got there, so had to wait a few minutes. Then had to wait for one confirmation to cash out(around 1/2 hour) The map showed a few others bitcoin atm's nearby that only sold. It paid at a rate of $3000 per coin, about a 10% discount at the time.

Thats seems like it is so much work, just to sell and buy your bitcoin. Do the Bitcoin atms have good prices or not, even with your 10 percent discount I wouldn't be wasting 30 minutes of my time just to sell my bitcoin.

Why don't you use Local bitcoins or something like that? You would probably get better prices than what you have right now and you wouldn't waste petrol driving to a Bitcoin atm.

orions.belt19

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There's not a single bitcoin ATM in my country so I haven't tried using one ever. Having a bitcoin ATM seems convenient to have especially for bitcoin users like us but the fees and waiting time makes it a bit discouraging. That sounds like a long time for you to wait for confirmation. If that's the case, wouldn't it be easier and more convenient to just use an exchange wallet instead?

grermezter

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Quote from: Aveatrex on August 11, 2017, 04:13:25 PM

Quote from: Gibbar on August 11, 2017, 03:55:10 PM

Last week I went to the only bitcoin ATM that was nearby that both bought and sold coin. Had to travel 8 miles, was in use when i got there, so had to wait a few minutes. Then had to wait for one confirmation to cash out(around 1/2 hour) The map showed a few others bitcoin atm's nearby that only sold. It paid around $3000, about a 10% discount at the time.

Well atleast you got a bitcoin ATM near you.In my case,in my country we don't have 1 single ATM people barely know bitcoin here anyways.You have to feel happy that you have that opportunity though Cheesy

The same goes for my country, there isn't any bitcoin ATM machine neither is there any plans to bring one into the country, I am sure that even the government officials know anything about the cryptocurrency. I think in a way it's a good thing before they start to impose taxes on its buying and selling.

phr0stbyt3

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I really loved the part of getting a 10% discount we actually need these types of atm. On this forum we can see the monopoly of so called reputed buyers of bitcoin who charge 15% fees when we want to buy bitcoin and 10% fees of just selling them. Anyways i have heard about a bitcoin atm in my country but never really found much information about it on the net maybe one day I'll just go to that area and share my experience soon

BigBall

sr. member

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Huh you got discount that is the most important thing.I also have my special ways to witdrawal bitcoin to my real life pocket and I am really good.Fees are 1%+fee for exchanging from usd to my local value after i changed btc to usd.

Yakamoto

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Quote from: Gibbar on August 11, 2017, 03:55:10 PM

Last week I went to the only bitcoin ATM that was nearby that both bought and sold coin. Had to travel 8 miles, was in use when i got there, so had to wait a few minutes. Then had to wait for one confirmation to cash out(around 1/2 hour) The map showed a few others bitcoin atm's nearby that only sold. It paid at a rate of $3000 per coin, about a 10% discount at the time.

Sounds about right for Bitcoin ATMs, they aren't really anything special and they're typically pretty clunky when it comes to their use. There's one a city away from me that I know of (and probably more within the city I'm in that I don't know about), and the one I know of is pretty bad when it comes to fees/differences in spot prices, and that was years ago. I'd hate to see what it is like now.

It's kind of weird to think about how it's been such a long time since I got involved with the community and the kinds of things I've seen (like the ATMs) that were never really popularized.

seleme

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Duelbits.com

Quote from: Gibbar on August 11, 2017, 03:55:10 PM

Last week I went to the only bitcoin ATM that was nearby that both bought and sold coin. Had to travel 8 miles, was in use when i got there, so had to wait a few minutes. Then had to wait for one confirmation to cash out(around 1/2 hour) The map showed a few others bitcoin atm's nearby that only sold. It paid at a rate of $3000 per coin, about a 10% discount at the time.

What about fees when you withdraw cash from btc ATM? Unfortunatetly there isnt even single btc atm near my city. That's why i ordered numerous debit cards from btc debit card services which i will use them to handle big amounts.

Clement Kaliyar

hero member

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Quote from: paragoncoin on August 11, 2017, 04:22:02 PM

When will we stop needing cash? ATMs will always belong to someone? who should it be or should it be anyone at all?

Does it matter if you could sell and buy bitcoin through ATM,i am not sure about the fees they are charging,but if the fees are fair and square then certainly many will use that facility to deal bitcoin,we need to have more bitcoin ATM throughout the country and it is a really good thing to see progress.

darkangel11

legendary

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Don't let others control your BTC -> self custody

It's strange that you had to wait so long for a confirmation. They are much faster and cheaper at the moment, maybe that ATM was lagging Cheesy

You mentioned the main reason why I'm not using ATMs - 10% discount. Their fees are discouraging most potential users and they are making money only on those tech geeks who really want to check them out and see how they work. IMO paying so much is not worth the "privilege".

paragoncoin

newbie

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When will we stop needing cash? ATMs will always belong to someone? who should it be or should it be anyone at all?

Kaller

hero member

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Quote from: Gibbar on August 11, 2017, 03:55:10 PM

Last week I went to the only bitcoin ATM that was nearby that both bought and sold coin. Had to travel 8 miles, was in use when i got there, so had to wait a few minutes. Then had to wait for one confirmation to cash out(around 1/2 hour) The map showed a few others bitcoin atm's nearby that only sold. It paid around $3000, about a 10% discount at the time.

This actually seems like a lot of work. :s
You could have bought from LocalBitcoins FYI from the comfort of your own home. Tongue

Anyways, I think you are happy you already made $500 in just one week. Grin

Aveatrex

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Quote from: Gibbar on August 11, 2017, 03:55:10 PM

Last week I went to the only bitcoin ATM that was nearby that both bought and sold coin. Had to travel 8 miles, was in use when i got there, so had to wait a few minutes. Then had to wait for one confirmation to cash out(around 1/2 hour) The map showed a few others bitcoin atm's nearby that only sold. It paid around $3000, about a 10% discount at the time.

Well atleast you got a bitcoin ATM near you.In my case,in my country we don't have 1 single ATM people barely know bitcoin here anyways.You have to feel happy that you have that opportunity though Cheesy

Gibbar

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