Topic: Why arnt we seeing more bitcoin ATM popping up? - page 4. (Read 7737 times)

The demand for Bitcoin ATM's is low probably due to the unreasonably high fees that operators of these machines tend to deliberately set up in order to price gouge their customers. I have seen Bitcoin ATM's only in the touristy areas in my country and in some of the bigger shopping malls. I don't see a reason to use them because I can get better rates and lower fees on the exchanges though. But I do admit that Bitcoin ATM's offer fast transactions when you need cash or coins urgently.

Honestly, I haven't seen any BTC machine in my country, much less had the need to use it. Maintenance would surely be an issue because of the operating costs associated with it. If it ain't a necessity and people are not looking for it, why bother having one?

Personally, I don't see the need for a special Bitcoin ATM. The reason why no one makes them is because of their inconvenience, cost and the lack of usage. No one uses the machines because their fees are, as you said, 'ridiculous'.

There aren't more Bitcoin ATM's being built because they are very expensive to make and not many people would use them. In Sydney, Australia, there are only 3 Bitcoin ATM's. Like WTF.

FWIW, we have two bitcoin atm's in my city (Dallas, Texas, USA).

i think it some thing new. it need a little more time to be stable. i think there are still some banks who have no ATM system available. so i m hopeful that in future you will see a lot of ATM machines regarding bitcoins.

The main reason there is bitcoin is really not known of all people globally and some doesnt bother to look at it now because banker do not really knew it was existing and those who knew they have few like here in philippines we have only one bitcoin atm machine here and located in makati city And its nice to see its really existing.

If anyone in Australia has a spot for a bitcoin ATM that they think might generate a lot of business send me a PM and i we can talk.

Do they really pull that much juice? Most if the big chain atms are run out of cafes and I do not think they would be bringing them to so many locations if this was the case. Not sure about this aspect and will look into it.
The fees can be as low as 1 percent if you know when to buy, merchants offer special days here.
I know some places are robbing people on fees but none of them here are doing that.

Those Bitcoin ATM should be operated by exchanger's because if it's owned and operated by an individual, who will pay for the electricity, lease of space and maintenance. Who ever will operate and run a Bitcoin ATM must have a very deep pocket to begin with.

I don't think Bitcoin ATMs are the way bitcoin should follow. I don't like them - maybe they are good as promotional tools and cool gadgets, people will be talking about them etc.
But their real use is limited AFAIK, fees are ridiculous and I doubt that anyone who never used bitcoin before will be buying first BTC through ATM.

Only in some Countries do you need to supply a photo or palm scan. I just need to scan the code or have it scan mine and the transaction is done in a short time. Just waiting for . confirmation.

probably because bitcoins is anonymous currency and basically by using ATM you're showing your identity?

They are very expensive to install and maintain. There's none in my area which is quite sad for me. As they are expensive they take awhile to get back their original cost back.

Interesting to think the atms are expensive to buy and run. Always feel like I am the only guy using them, yet they keep popping up. Its like a shadow economy or people that are here using bitcoin that I never see.

I think it is because they are expensive and costly to run. Will also take a while to get a ROI from running the machine.

This is pretty much it, the return of interest on these machines varies heavily on location and usually people don't use these machines as some have high fees.

I think it is mostly due to how expensive it is to buy on, plus it's an internet thing so why get it from the 'real world' when you can just get it on a computer

The city I live in has but one that I am currently aware of. Same location (Hemp Clothing store) going on 2 years now I believe. I've used it a half dozen times and though I'm uncertain that there's a camera I think it most likely. The fee to buy is 5% in USD. There is no ID requirement to purchase bitcoin and the maximum one time purchase is $5,000.00 CAN. No minimum!

I have yet to withdraw cash for bitcoin but I believe there is a similar fee and cash limit. I believe higher amounts do require scaled ID requirements. The store itself offers a 10% discount on purchase of goods with bitcoin. It's situated in a high traffic area and it's a tourist/university town I live in, which is also the Provincial Capitol. I haven't been lately but I expect they're doing as good as ever with the low Canadian dollar.

It's a Robo brand BTM, simple to use, so I expect there is always a way when the will is there. I do know the store does not own the machine so they are more than likely compensated to their satisfaction for having it placed not more than 3 strides from their door.

A local bitcoin group owns it and I can only surmise they have recouped their cost for the machine and any maintenance required. So it's a win win proposition for all concerned. Unless of course you don't want your image recorded while making a transaction. There's business cards and pamphlets available if one should choose to go the local bitcoin route at a nearby coffee shop.

All in all a smooth operation.

imho
fdyl

yes i also not see many bitcoin ATM on my country,just on some big city or capital city of course,i'm sure this is about the customer of that ATM,bitcoin user still have no knowledge about using bitcoin ATM,and they still comfort being use bitcoin with online transaction on computer or smartphone.