Trying the new Bitcoin ATM near my house - page 4.

dearbesz1219

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Quote from: benperrin117 on April 03, 2017, 08:17:03 AM

There's a new Bitcoin ATM in the mall down the block from me, so I went over and checked it out.

https://www.youtube.com/watch?v=xajKjxxRL04

Having an a ATM near at my house it means the community in my location is already a bitcoin fanatic or bitcoin users. Because it will be useless to put bitcoin ATM in one area if there is no bitcoin users.

TTMNewsK

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I wish that there's also Bitcoin Atm in my country so I will try to use it.

Bitcoin Atm is a great way and also an easy way for many people to cash out their money.

xcajun21

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Quote from: roadbits on April 06, 2017, 06:21:15 AM

Quote from: sportis on April 06, 2017, 05:45:58 AM

People many times prefer to buy or sale bitcoin using the cryptocurrencies ATMs, usually because they afraid the person to person transactions, but unfortunately the rate there is very high. In my area there are 2 atm where the buy is kraken or average price plus 8%. Therefore for me is better to use an exchange like this in my signature.

Yes dealing with the machine is better than dealing with a person. With the person, we may get the cheat, but the machines will not cheat us easily. And I think the charges is common in all country. It's 8 to 10% charge. But it is safe to compare other type of exchanges. In my country still, it's not coming don't know when it will come. My country people are also waiting for this Bitcoin ATM.

8% - 10% Is quite high. I'm guessing a good deal would be to get 5% or 10% spare change - poker change, so the sum is meaningless, but the value of the machine higher.

shield132

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Great video, I didn't know if this process of withdrawing bitcoins was like you showed us. In my situation, I have bank's card with very, very low exchange rate (that's great for me) and when I want to withdraw money, it automatically converts btc into local currency.
And ATM which you showed us, is great way for people which is using blockchain.info's wallet or other wallets, it's great especially when you want to withdraw money from bitcoin gambling websites.

PrintCoins

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Nothing about the fees in your video - interesting.
I understand that it's a paid video, but still - you should be open and honest about everything.
And as usual - it requires ID - of course they are trying to control and track users.
No ATM's for me, thank you.

LLec

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Nice to see more atm's available and especially in a high traffic area like a mall where they can get alot of public exposure.

asuryan180

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That's great,it's always nice hearing such stories and at least people will get curious what this is for and hopefully get introduced to BTC that way.And for us,this is a win situation because we got to use what has been made and benefit from the publicity that BTC will get and eventually lead to increase in it's usage.I often think that a great idea would be to make some kind of banner and put it on a sign saying "BTC-keep your cash" for example.And get people to wonder what that is and then tell them-hey,you have to hear about BTC

maydna

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its good to see that finally OP have new experience when using bitcoin ATM and he tells us how it feels with the video. i hope in future, we can see that there is bitcoin ATM available in many place and many country so we can trying to use it like what the OP do. but for now, as bitcoin ATM is still difficult to found, i think i still use third service that will help me to withdraw or exchange my bitcoin into fiat and i am really satisfied for now with the service.

daringdiscovered

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Quote from: YTBitcoin on April 03, 2017, 08:46:49 AM

I also wish that there would be an ATM in my country as with ATM we can use our bitcoin very easily in our country we can spend our bitcoin even in those places where there will not be any connection to our phone so we will go to ATM and will withdraw our money for our needs.

Trust me, this Bitcoin's ATM that you are wishing for will just ask you high transaction fees when you sre going to use it, and besides why would you guys want to spend bitcoin in everything that you do in your everyday lives when you could simply use fiat since it is the usual thing that we use in our everyday expenses, and don't you think that you could lose profits when you are going to use it on everything, I mean, you could get more profit when you are going to save it and hold it in the long run.

Juggy777

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Quote from: paul gatt on April 06, 2017, 07:03:19 AM

I've heard a lot about ATM bitcoin, however, I have never experienced it. It's a far cry from my country. It is too poor and backward, bitcoin is not possible for everyone. I really want to know how it works, thanks for your video tutorial, it was awesome. I wish I could live in your country, where technology evolves, and bitcoin ATM is just a normal thing. I do not know when I can use it. I wish I could use it soonest.

Which is your country mate, I am sure it will come to your country to. You are lucky op that you already have a atm installed in your place. But what I have usually heard is the rate the transaction happens are usually very high. So beware of it, even if you just want to try it. Also make sure you execute it properly cause if a transaction is a error who will you complain to

paul gatt

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I've heard a lot about ATM bitcoin, however, I have never experienced it. It's a far cry from my country. It is too poor and backward, bitcoin is not possible for everyone. I really want to know how it works, thanks for your video tutorial, it was awesome. I wish I could live in your country, where technology evolves, and bitcoin ATM is just a normal thing. I do not know when I can use it. I wish I could use it soonest.

roadbits

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Quote from: sportis on April 06, 2017, 05:45:58 AM

People many times prefer to buy or sale bitcoin using the cryptocurrencies ATMs, usually because they afraid the person to person transactions, but unfortunately the rate there is very high. In my area there are 2 atm where the buy is kraken or average price plus 8%. Therefore for me is better to use an exchange like this in my signature.

Yes dealing with the machine is better than dealing with a person. With the person, we may get the cheat, but the machines will not cheat us easily. And I think the charges is common in all country. It's 8 to 10% charge. But it is safe to compare other type of exchanges. In my country still, it's not coming don't know when it will come. My country people are also waiting for this Bitcoin ATM.

sportis

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People many times prefer to buy or sale bitcoin using the cryptocurrencies ATMs, usually because they afraid the person to person transactions, but unfortunately the rate there is very high. In my area there are 2 atm where the buy is kraken or average price plus 8%. Therefore for me is better to use an exchange like this in my signature.

btcdiggingmaster

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Nice, Even we are also waiting for bitcoin ATM in our country. In my country, there are many people who are supporting bitcoin, so very soon our government can able to set up bitcoin atm machine. Once the atm machines spread to different parts of countries so that every country will start legalizing the bitcoin.

LeGaulois

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Nice video showing your favorite Bitcoin ATMs and how to use it. I didn't know it is so easy to use it to buy your bitcoin. Yes the rate is a bit higher but that didn't surprised me. I never see one until today, thanks for sharing. By the way, this ATM is from BitcoinBrains but do you know any company building/selling such machine? I am just curious

carlfebz2

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Quote from: zeaderza on April 05, 2017, 02:35:36 PM

Quote from: benperrin117 on April 03, 2017, 08:17:03 AM

There's a new Bitcoin ATM in the mall down the block from me, so I went over and checked it out.

https://www.youtube.com/watch?v=xajKjxxRL04

Just be careful about ATMs that aren't at a bank branch. I have read a lot of articles about people using pen cameras to steal peoples pins. I would think one in a mall would be safe but you never know so be careful. That is awesome that they made that available though! I need someone to put one near where I live!

Oh i didnt expect that this thing does still happen on Bitcoin ATM i thought its just only on Local Fiat ATM and im sure one of those hackers/scammers/thiefs are bitcoin lovers too. We should really be careful on this matter and thanks mate for reminding or giving us caution related to this matter.

LoyceV

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Quote from: benperrin117 on April 03, 2017, 08:17:03 AM

https://www.youtube.com/watch?v=xajKjxxRL04

Very nice video!

Does this mean you can buy/sell up to 3000 CAD without any identification? Are KYC/AML-regulations that loose in Canada?

It seems a bit weird to walk around with your receipt, waiting for your Bitcoins to be confirmed before you can pick up your cash. If someone manages to take a picture of your receipt, he can claim it and walk away with your money.
It may also be possible to find the transaction for the amount shown on the screen in a Block Explorer. The observer can then recreate the QR-code, and walk away with your money.

I see many people in this thread complain about the fee, but it's not that bad at all: 20 CAD gets you 10.99 mBTC, and 12.77704 mBTC gets you back your 20 CAD. You've lost just under 2 CAD on this transaction, less than 5% one way.
I can imagine fees go down when enough people use Bitcoin ATMs. Now the machine has to be paid back by not too many customers. If customers would line up, competing machines could compete on fees.

densuj

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Quote from: benperrin117 on April 03, 2017, 08:17:03 AM

There's a new Bitcoin ATM in the mall down the block from me, so I went over and checked it out.

https://www.youtube.com/watch?v=xajKjxxRL04

That is good video you are lucky man, unfortunately not all of cities in every countries
there are bitcoin ATM machine avaliable because moshtly countries there are not bitcoin ATM machine,
bitcoin ATM machine is still be considered bad business because bitcoin is something new
and not all of people know about bitcoin and use bitcoin in real life for payment method.

ivanst776

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Quote from: Davkul on April 04, 2017, 03:55:27 PM

Quote from: ivanst776 on April 04, 2017, 03:17:15 PM

Quote from: benperrin117 on April 03, 2017, 08:17:03 AM

There's a new Bitcoin ATM in the mall down the block from me, so I went over and checked it out.

https://www.youtube.com/watch?v=xajKjxxRL04

That's perfect, the explanation is just perfect for everyone even for those that don't know much about bitcoin.

One thing that could irritate people is the waiting time, for this tutorial it took you 5 minutes but in reality it takes more to sell bitcoin but shorter to buy bitcoin.

What kind of verification are needed for the second and third option? Why it didn't require phone number when you wanted to buy bitcoin worth 20 CAD?

P.S let us know where and how much have you purchased the sunglasses Tongue

, I'm gonna buy something similar hehe.

No clue about the verification system, but from what I've seen the ATM asked for his phone number in order to let him know through a message when he could have taken the $, since the process requires time. In the other case, there was no reason to insert his phone number as the transaction had been instantly sent to his wallet.

I think that if we send a bitcoin transaction then the ATM estimates if the fees are enough or it waits for the first confirmation.

But what are the next "level" of verification in order to sell or buy higher amount of bitcoins, if they require something like ID verification then I dont know how can they verify it or the process will take too long.

xcajun21

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Bitcoin ATM's are cool to show off to friends, but they aren't worth using at all. Grin

Here's why:

For one, you need to scan your government ID and all of your information. This kind of defeats the purpose of anonymity with Bitcoin. Secondly, the transaction fee's are too high for the convenience. It is just as easy, if not easier (and cheaper) to buy Bitcoin from a smartphone than an ATM.

How is high for convenience if is right in a mall and it gives you instant access to your deposit? Cash means access and the liberty to have them.

Topic: Trying the new Bitcoin ATM near my house - page 4. (Read 6000 times)