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[Steve1111]

There's a bitcoin atm at a convenient market near my house. I'm wondering if this would be a good way to start investing in crypto? I probably wouldn't be investing more than $50 and likely even less initially, if I decide to do this. Has anyone had any experience with bitcoin atms? Any suggestions appreciated.

 

[pepsipaloma]

I have never heard such a bitcoin ATM before since mostly in my place bitcoin payments can be done online through the use of some bitcoin wallets directly to a certain company.

 

[magicpotato]

Like @pepsipaloma, I've never seen a Bitcoin ATM close to where I live, but I think it's a great way of making Bitcoin an ordinary thing. Also, it sounds like a great option if you want to buy BTC anonymously without internet access or if you just don't want to make a wire transfer to an exchange.

To answer your second question: I don't think it's very efficient to invest in BTC by buying it through an ATM (as long as you don't want to just hold it). Instead, use some sort of exchange such as Coinbase or BitFinex.

 

[Davidafer]

The Bitcoin ATM will surely not be supported in all country but it sound really cool if i can get such in my area

 

[SandraShades]

Bitcoin ATM will prove effective for people outside and don't have internet or LTE and suddenly need to make cryptocurrency payments. But thinking about it, Bitcoin is pretty much already accessible even at home.

 

[overcast]

As long as you there are support from the govt. I don't see any issues of it. I think there has to be a way for bitcoin to local currency. Otherwise crypto is not going to be much successful. I personally don't want to get into the crypto. And I don't see much value out of the crypto as future investment. But you have to understand that it as it stands now has some value so ATMs are worth it.

 

[matt9005]

These ATMs provide you a very convenient way of purchasing and selling cryptocurrency, but they charge high fees and the exchange rate will be worse compared to crypto exchanges like Binance.

 

[Brain]

It wouldn't be a bad idea at least it will makes Bitcoin accessible to even people offline. I only read about it online because it is yet to get to my area.

 

[SCAMEXPOSER]

It a good option to have bitcoin ATMS around , it makes it easier to access them but the question I have about this ATMs is that is it possible to withdraw physical bitcoin coins or paper from these ATMs? .

 

[kaleembilal]

I think you have got a great opportunity and a good blessing by having a bitcoin ATM so near to you because I don't think I have a bitcoin ATM in my whole country or even my region

 

[SCAMEXPOSER]

I think you have got a great opportunity and a good blessing by having a bitcoin ATM so near to you because I don't think I have a bitcoin ATM in my whole country or even my region

I also don't have the bitcoin ATM I'm my region too, I guess they are mostly in the US but I don't really know mode of operations of the ATMs

 

[Balint098]

Several crypto related sites have a map where you can check the location of a btc atm near your location. Though currently, it's available only in 73 countries.

 

[SCAMEXPOSER]

Yeah I read about the bitcoin map and it truly available in 73 countries, these ATM machines are capable of splashing bitcoin out when you input cash on them or insert your debit card and request money in Bitcoin or otherwise. With a fee of 8.3%.

 

[Balint098]

Wish they would lower the 8.3% withdraw fee but thinking how these machine are still rare high upcost like that is still understandable I guess.

 

[kaleembilal]

They

I also don't have the bitcoin ATM I'm my region too, I guess they are mostly in the US but I don't really know mode of operations of the ATMs

Mostly use some of the ledger wallets or I think you have to input your private keys into it to get access to your digital currency and then you can cash out the currency in the form of dollars that is how I think it works

 

[SCAMEXPOSER]

They

Mostly use some of the ledger wallets or I think you have to input your private keys into it to get access to your digital currency and then you can cash out the currency in the form of dollars that is how I think it works

I read it just involved inserting your Bitcoin debit card into the ATM then you make either withdrawal of bitcoin or buy it easily though you will be charged.

 

[My%username%]

It would be better to invest in bitcoin with debit card. Kucoin have a debit card, gekkoin too, etc.

 

[SCAMEXPOSER]

It would be better to invest in bitcoin with debit card. Kucoin have a debit card, gekkoin too, etc.

Xapo also also have a debit card , what you need to consider again is not the debit card issue but if they are compatible to your country if they are not then it is useless.

 

[azarias]

I only saw it in online news. It would be nice if we have this here in our country. So everyone can buy it or invest on it. It may have a higher fees but it's better than being scammed online.

 

[microunit]

I only saw it in online news. It would be nice if we have this here in our country. So everyone can buy it or invest on it. It may have a higher fees but it's better than being scammed online.

actually hate to break it up to you but alot of scamming schemes online involves cryptocurrency especially bitcoin and even underground black market transactions