ATM

Terror3y3z

Not if USDC is used. This is about revamping the entire payment industry. Payments will almost certainly have to made in a stable coin of some kind I agree. And because they are currently pegged to the American dollar does not mean that they have to stay that way. It just makes sense ATM because the USD is the world's currency ATM.

Rey_Mezcalero

I’ve been traveling internationally for a long time and its easy to use an ATM machine for getting money and getting the near best rates. Who goes to forex exchanges anymore overseas with large sums of money? They rip you off on rates big time. As for crypto, what you going to do if you from one country and then are at another country? How you going to cash out if places only accept cash and you just have crypto? I find it doubtful you can easily survive going to another country and just using crypto, unless you have like a CDC card that “spends” crypto like a Visa/MC as majority of places are cash/credit only. I wouldn’t want the volatility of crypto if I went on a big trip. Imagine going right before the crash and then notice your spending balance has been reduced by half or more.

onlyherefortheclout

Talking about bringing cash and wiring it. BTC ATM solves that, though the fees need to come down. There's one at my local grocery store 2 mins from my house

FCB_1899

My bank doesn’t even have employees for that, at best they can assist you at the 3 ATM’s there or the the PC installed there for non cash operations, help you install the app on your phone or give you the phone number if you need to be at home And be assisted there.

DavLithium

Its definitely useful. Tho the majority are here for the money and some are to gamble. Truth be told even if crypto is completely useless theres one thing that i said in another thread aswell thst crypto has it going for itself. Money transfer. As someone who lives in a third world shithole i never ever felt more connected to the rest of the world. If id like to transfer you 100$ i can do so almost instantly wherever you are. I cant say the same about fiat. A wire transfer takes 5 working days for me, and i cant even do it outside outside workdays. I cant buy online with my cards coz our banks r shit and aren’t recognized by SEPA, i need to open a special card for online purchases which costs a maintenance monthly fee. Even if i go to the ATM to get some cash theres a ceiling and if i want more i need to wait in line for at least one hour to get my own money from my own bank account. Crypto removes this whole charade. On top of it its a good investment if dont wanna gamble on shitcoins and memecoins. And as someone from the third world i cant even invest in stocks and such im left with the option of ridiculous bank “interests” or crypto and ill choose crypto any day of the week for long term investments.

jakekick1999

Uhh the whole article misses the point sorely. It repeats financial inclusion a lot. But having internet connectivity and phones and wallets within the phone are more scarse than people having currency notes in their pockets. So BTC does nothing for financial inclusion. Secondly, they used BTC for transactions but also then used ATM where BTC can be exchanged for dollars. So its like you want to use BTC but you can't do without dollar. So then don't use BTC for transactions, use it as an investment. It just seems like a big show or circus basically

RipperFromYT

Litecoin is in pretty much every single ATM that Bitcoin is in. Monero? Litecoin is on pretty much every single crypto exchange. Monero? Litecoin is meant for transactional use. It's privacy isn't meant to hide illegal activity. It's meant so when I pay the guy who cuts my grass in Litecoin that dude doesn't see my wallet contents. If the US government wants to backtrace transactions thats fine. I'm not hiding shit from them. Just like they could get access to my bank account. It doesn't mean the cashier at Target needs to know what my checking account balance is.

hyperfaded_

Also alts are very risky ATM. They can drop another 50% from here and stay that way for another year or two. It's ok to buy them just be aware of the risk. It's not 2021 any more.

GibbsSamplePlatter

So to be clear: 1) you do work 2) get paid in paypal 3) buy btc and send to your chivo 4) convert to USD 5) cash out via ATM ? Interesting to hear a day to day real life use case

DavLithium

While i agree with 99% of what you wrote i have to say that there is something that is useful to the masses without the need for them to understand alot about crypto. Money transfer. If u wanna transfer money to someone on the other side of the world you can do it almost instantly through crypto, which can be again converted instantly in cash and all that with a few clicks. If you wanna send money to someone a wire transfer takes quite a while, lets not even start with banks needing to be part of international SEPA/SWIFT and all that jargon i cant make sense of. Ill give u my example. I live in Albania a shithole of a country whos banks arent worth their salt. If i wanna make a wire transfer it take like 5 days to do so and theres a good chance that the bank wont process it. Let alone the fact that i cant do that at all during weekends. If i wanna buy stuff online again ill have to go through the trouble of opening a card for online purchases that has a maintenance monthly fee. With crypto i buy pass all that. If i have lets say crypto i can immediately exchange it for cash on an exchange that does transfer in my country (thank god for Cex.io even tho fees r a killer). And the pay is instant. On top of it banks here have a limit of expenditure which again needs to be removed. Or if i wanna pullout cash from an ATM it still has a ceiling ill need to wait in line for more than an hour to get my own money out of my own bank account.

Linux_goblin

I agree, but can't understand why some institutional players are investing in this market now. (it's a far west with no rules ATM)

acidichusk

Crypto ATM's are everywhere in the US. link below to a map. Just zoom in on your location and click on an icon to see what crypto is offered through that particular ATM. ​ [https://coinmap.org/view/#/world/34.59435666/-98.40316772/4](https://coinmap.org/view/#/world/34.59435666/-98.40316772/4)

Jenglr

When I was in high school there was a sketchy cell phone store in town that actually had a Bitcoin ATM.

ReputationSavings184

At an ATM

LilBlueFire

I just bought some pants with Bitcoin and the transaction fees were non existent. Also I just wired some money from one bank to another and it cost 3 bucks. I also just transferred Bitcoin from one wallet to another using lightning and again, basically free. Twice in the recent past I needed some cash and the ATM I went to first was broken, which was annoying and made me feel not in control of my own money. I'm sure I could come up with a lot of examples where I used my credit or debit card and it was a quick seamless transaction too. That's my reason.

parkranger2000

Are u sure it works? Terms seem to indicate that might not fall under qualifying purchases. “Qualifying Purchases” are signature credit purchases and PIN debit purchases. Qualifying Purchases do not include any other payment or transfer, including incoming transactions, outgoing transactions where you are the receiving party, peer to peer transactions, ACH Transactions, ATM transactions, fees, chargebacks, adjustments, or wire transfers.

Competitive-Clerk-97

After market news. Cisco dropping ATM down 15%. Keep eye on this one

Areshian

I doubt there are many places in the EU where it is profitable ATM

Sup3rPotatoNinja

Just stop holding stables. ATM the risk/reward is absolutely effed.

coinfeeds-bot

tldr; Kwik Trip has announced a partnership with Coinsource to put Bitcoin ATMs in more than 800 stores in Wisconsin, Minnesota, Illinois and Iowa. Coinsource describes itself as the leading Bitcoin ATM network in the United States. Kwik Trip Rewards members will have access to lower rates. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Labius

So what? That's just some buzzword salad. It doesn't make my life easier or more convenient in anyway ATM. And no, I'm not an Ethiopian living in the middle of nowhere sending remittance to family in Venezuela.

RookieRamen

I'd much rather use wrapped euros and dollars but stablecoin issuers are making billions ATM so yeah..

graben_

Seems like it's holding pretty well ATM above 30

910coins

Because you have to stand there all day hoping someone will buy btc off a stranger hanging around an ATM all day..

xiangqiu

Step 1:Destroy the ATM Step 2:Sell the parts for cash Step 3:Sign up at LocalBitcoins.com Step 4:Find someone with good reviews Step 5:Buy BTC

vasilenko93

>So let’s say it will cost her 23$ to send that 200 $ home Also that is not true, you can send dollars from a US bank to a ecuador bank for $5 using Western Union and it will most likely be instant. Recipient does not need to do anything besides provide bank account number. It will just get deposited and they can spend it with debt card, wire transfer, or get cash from ATM. Crypto people lie. Remittances are not fixed by crypto.

alcasperboy

Pretty typical of ATM style machines. They take 10% of your money as a fee. Same fees apply to those coin counter machines (eg Coinstar).

Papazio

The biggest thing for me is the switch from structural supply to structural demand. ATM it takes fresh buy millions per day to keep the price from dropping, after the merge it will take millions in sells to prevent the price from going up.

serega28rus

Any ATM that takes your money without question is a very powerful tool for obvious reasons.

shauniebabes

The transaction fee will have cost around $10 so the ATM fee was closer to 10%.

dacryptokid

Xmr as currency ok however they have problems with their hash pools right now. Pretty centralized needs to be solved asap. Love XMR respect it more than any other alt. Hash pools way centralized ATM.

andreiextrem

You pay a premium for not just buying/selling through a KYC compliant exchange. The ATM operator is taking a risk that you’re gonna cash out coins linked to crime, which causes them a headache (at least) when it comes to their own accounting.

renapeng

Bottom line is the ATM rates are the correct going rate to pay for that convenience.

brando2131

I always forget America were late to NFC payments. In Australia we've exclusively use NFC for the past 15 years, and was probably rolled out 20 years ago. I haven't inserted or swiped my card in 10+ years except if I've had to go to an ATM few years back. I need to read up more on why American is so financially backwards. Instant bank transfers is another thing they don't have...

tradincoins

Wow! never knew there are ATM that actually buy and sell bitcoin .

NicknameInCollege

They sign up for an account on the ATM using their phone number as a login/2FA method and they do need to hold up their ID to a camera on the machine to get started. Our machine happened to have the highest daily limits available for new accounts, and so we literally become a regional hotspot for people who use these machines. Once they've logged in it asks people to scan their wallet using the camera on the machine. Despite built in warnings that they should only send to their own wallet address, many people would receive QR codes through text messages, Whasapp, or other chat clients and ask me to help them scan them. Usually I'd catch a glimpse of the contact name while doing so, and in one case a specifically a gentleman who came in every single week had a person in his contacts called "The Blackmailer" who would request the full daily limit in Bitcoin and send him the QR codes to send it to. The guy refused to believe he was being scammed. It was helping people with that machine for so long that made me realize that some scam victims will actually fight the truth, even when the evidence is overwhelming that they're being scammed. I believe it's because the realization would crush them, as many have spent multiple tens of thousands on these false promises, and if they stop then they realize it was all for nothing.

Daniel18001

HOLY SHIT! This just unlocked a distant memory in my mind. So back when I was in high school around 13-14 years old ... I would go to my school by bus and I would always wait at this one bus stop and across the street was some small shop (I never really knew what was the purpose of it and what it was selling...) and in that shop there was an atm but not any ATM... it was a BITCOIN atm and I was always wondering if I should check it out and that was back in 2014 if I am not mistaken... damn I should have been a bit more curious I might have had a couple bitcoin by now eh...

Sufficient_Tooth_949

Interesting what do they actually sell? Is it just a crypto ATM or do they have shirts and hardware wallets or any physical goods?

robrnr

This is again begging the question. The question is not how the crypto model is secure, nor did I raise questions about the security of Ledger or Trezor. My point has been that it is idealistic to think that the average person is going to use this for a mainstream replacement of banks. There's simply not a risk/reward incentive in that as soon as "seed phrases" and "Ledger" have been introduced into the discussion, a significant chunk of people—perhaps even the majority—are going to say "no, thank you" and head to the ATM. Centralized crypto wallets like on Coinbase would be the preferred means of storage, if anything. Perhaps you'll see Chase, JPM, and BodA enter *this* space in the future. There's also the insecurity of linking all of one's money to a single point of failure: the seed phrase. It seems to me that the primary safeguard of your seed phrase is your anonymity, not encryption. Someone breaks into my neighbors house, they're able to steal valuables, maybe a credit card or two, and maybe identification. Introduce a seed phrase into that household and one is far more susceptible to financial ruin. If we're talking about significant sums of money, then expect the introduction of violence to procure that seed phrase. And again, before you talk to me about "dividing up one's seed phrase" or "storing that information instead on a computer with added layers of encryption," pause and ask why the average person is going to continue to listen at this point. Bank security can be improved, perhaps by blockchain. But you're not going to replace it.

MrPlaceTX

Tor browser and use Freefloat, Changelly, or Instaswap. A lot smaller premium than those ATM's. TBH though, We have looked at buying and placing a few of these. The investment returns are okay for passive inccome.

TronixPhonics

I'm trying to figure out how these ATMs are NSFW 🤔 Oh wait, ATM...got it.

GBArcturus

Most bitcoin ATM's require KYC anyways.

ankaa1118

I love the bitcoin ATM idea but man 100% of them are pretty much a scam.

gybemeister

Sorry for asking but what does the ATM gives them back? A slip with the passwords and a new wallet address?

InteractiveLedger

Bitcoin ATM users: Are people really dumb enough to sacrifice their identity being exposed at a near $7,000 discount?

whitslack

I could walk into this bar in Honduras and buy a drink with zero preparation. Contrast with having to withdraw USD cash from an ATM, take it to a forex exchange counter, and exchange it for Honduran lempira at a hefty markup. Bitcoin is global.

thatmanontheright

Government here charges about 20% on profit. Bitcoin ATM only about 5-10%

Burntout_Bassment

People do a similar thing on ATMs that charge you to withdraw money where I live. They will use a marker pen to write on the ATM giving directions to the closest free one .

NicknameInCollege

A retail shop that I worked at ran a Bitcoin ATM for 2 years while I worked there. From the moment the machine was put in the store, we'd have a whole new demographic of customers who came from all over just to utilize their full daily limit ($10,000) on the machine to buy Bitcoin. Well over 95% of them were older than 50, and a significantly larger portion of them were female, though there were plenty of male regulars as well. It was a common practice for me to help people when they inevitably struggled with the machine, and I'd always work in a way to ask them what they're buying it for. An overwhelming majority were buying it to send to someone else, and their cover stories ran everywhere from "Sending it to my girlfriend in Canada" to "My husband in the military" and even the rare "Poor family in Africa." When it wasn't that, it was people being scammed by fake 'electric companies' or refund scammers. In my time there I asked the question "Are you an investor in crypto?" multiple times a day, and never once was I answered with an affirmative. Now the important part of this story is that the machine itself claimed to have "No fees" but marked up the price of Bitcoin by TWENTY percent. During the recent Bitcoin ATHs, the price of bitcoin was listed well over $10,000 above it's realtime market price. I even pleaded with a few of the regulars who I had grown to have a mutual respect for to use an exchange like Coinbase or some other respectable gateway, but they were all much older and just couldn't beat the feeling that they were dealing in cash. Either that, or many were participating in money laundering schemes that involved them receiving large amounts of cash in the mail and converting it to Bitcoin for their bosses, possibly unknowingly.

sleeknub

Are you talking about the ATM? I’m talking about P2P.

faireducash

I bought BTC at an ATM in Colombia in 2019. Somewhere around 6k I think. It was pretty sweet. I had extra cash leftover and it was the easiest way to get it into a savings vehicle.

cssblondie

Wait, so are all BTC ATM’s just arbitrage opportunities as a business?

Hot-Canceld

yeah there was an ATM at the mall near here a few years ago and it's gone now

BigPlayCrypto

It sucks I saw an ATM with prices at $50,000 when the price was $47,500 this is absurd!

LiveCommunication344

I did once. I bought Bitcoin for 100€ in one of those ATM. It was start of the hell of a ride in Cryptoland. Btw BTC back then was 18K so i am in profit even with Premium.

CrypoFiend

Most of the ATM's require KYC now.

fan_of_hakiksexydays

If you want to buy Luna. There's a simpler process. Go to an ATM, withdraw your cash. Then go to your local store, buy some matches. Then light up all that cash on fire.

ptyblog

I have done it myself while traveling: use my debit card and get money from ATM at decent rate, I just had to find an ATM from same interbank system. That's the only downside I found.

ptyblog

Which bank lets you do that? Are you doing a deposit is your bank and they retrieve it using a debit card on an ATM in local currency? That's the only way I seen it.

series_hybrid

There are places in the world where inflation is at ridiculous amounts, like Turkey, Venezuela, and Zimbabwe. Businessmen there are using crypto to buy wholesale pallets of stuff from China, and when the crates arrive they break the items down into individual products which they sell retail to local customers, also using crypto. That was one of the things that got me into crypto about a year ago. Almost nobody is using crypto in the US. I know if you look you can find places where people have used it, but it's still rare. User-features are being worked out, and that takes time. For someone to want to use crypto, there has to be a reason that can't be handled by an ATM card, a credit card, or paper cash. I don't see CC, ATM, and cash going away, but I can envision crypto use rising and taking over a portion of commerce. Monero is private like cash, but digital, like paying someone over Paypal instead of mailing cash in an envelope. The reason I want to hold some Bitcoin, Ethereum, Cardano, Litecoin, etc is because I think over the next year they will go up in value, so I am a speculator. Crypto isn't useful to me..."right now", but...I can see it becoming useful. It will take time.

NacogdochesTom

Also: I can use dollars in my bank account to buy any number of goods and services very many places in the world by simply going to an ATM and withdrawing in local currency. That's infinitely more useful to me than to carry a currency that is unstable in price and deflationary by design. (Though again--the "medium of stored value" is an orthogonal use case.)

NacogdochesTom

Also: I can use dollars in my bank account to buy any number of goods and services very many places in the world by simply going to an ATM and withdrawing in local currency. That's infinitely more useful to me than to carry a currency that is unstable in price and deflationary by design. (Though again--the "medium of stored value" is an orthogonal use case.)

Revolutionary-Cow862

Im already down 70% im well in the red BUT what i look at (average cost) is coming down so in a way i am winning ATM. I havnt put in more then im willing to lose each week so if it disappears it disappears 🤷‍♂️

Possible_Scene_289

Ah yes open my vault...to get moons. I gather this is a reddit crypto without value ATM, how does one earn these?

cj-tb

So I had a short on Avax that was profitable Lost a trade on mana long and now in 1 more long from a lower point I dunno I'm just trying our different set ups ATM What about you? Any luck?

cj-tb

True they usually pump and then find a point where the market is done with them and then dump the worst. I can see how the strategy would lose. 😅😅 I find DCA and buying dips doesn't work ATM since nothing really holds in price long term. So I'm just trading charts ATM

vnielz

100k is not that spectacular as its not even 1/3 further than its ATM. easy target in 2024.

throwaway_overrated

Maybe convert it to cash first? Like at a BTC ATM

reddit_0885

A friend said he'll transfer me 3000$, to go to an ATM and buy some crypto because he doesn't know how to buy it. What is the catch here? It makes no sense, he'll have to pay for the transfer and the ATM fees. He is not new to crypto but said that every time he's buying, he's asking someone to do it for him, but that person is unavailable now (at work).

ImpressiveLocal438

Reality is, we've been through some unprecedented things (at least in living generations' experience). It should be no surprise that the rollercoaster isn't over yet. Like several ppl in my community who run some small businesses and franchises-:trying to apply usual methods of profit projection is next to worthless ATM, because the data the past 2 years carry mucks up the entire thing. IMHO, rather than collectively wring hands, we need to remember that adaptability is one of mankind's greatest assets. We're prime for some real innovation... Unless first world comfort really has made us all so intellectually lazy and complacent that we can't. Has the American middle class been "just comfortable enough", for just long enough, to know prefer denying problems are on their way? I sure hope not.

boxOsox4

You’ll get a chance to buy DOT around 7 in my opinion. DOT is the future but macro events are not done pushing the market down. You could think of what’s happening now as gamblers going back to the ATM to put their last bit of money on the table in the hope of saving some loses. It’s pushing the market up temporarily. Any number of things like sudden rising unemployment, another spike in CPI, regulation announcement, war escalation, etc. will cause another drop. Think of last summer. The market dropped mid May but the actual bottom wasn’t until mid July. Just my 2 cents for whatever their worth.

StormPupper

Been out of the loop for a little so sorry for sounding stupid but can you explain what a mixer is? Also, I do find XMR fascinating, I don't own any crypto ATM (well except what I get from brave lol)

BigPlayCrypto

Bitcoin ATM’s may be your only option but I could be terribly wrong 😑

C3P0wn

Yes it is. It's extremely frustrating too. It's crazy how they are not fully automated like the other types of ATM's I have used. Let me know if you get your btc and I will do the same.

DrestinBlack

Personally, I’m chilling. I feel good about most of my choices and not too heavy in the shakier ones. I did not invest more than I can afford to lose. The scariest part of that chart isn’t quite defined but it exists in the lowest part of that low curve. This is the part where various projects, tokens, coins, whatever - just fail. They go down all the way. And we know this will happen. We know it will happen to a large number of the crypto that is here today. It isn’t a stretch to say hundreds will simply die, it isn’t impossible that thousands will. And yet, if you cruise through any projects sub you find the same thing repeated over and over: “I’m holding for er, I will never sell, I’m just gonna keep buying. The lower it goes the more I’m gonna buy.” And that’s followed by the ultimate bit of financial “wisdom”, I’ll just hold forced because it will always go up and probably beyond the prior ATM - just because I keep holding.” “Just because I kept holding” - and that’s the one that kills me. So many truly believe that, *no matter what* if you just keep holding the price will rise again. As if the simple mechanism of HODL alone will do it. This is when we’ll start to hear cries of pain, from the ones who’ll even admit it. They held and they held “like they were supposed to” and yet that project (“awesome use case, great team, did you see that tweet, have you read the white paper”) will fall and die. And, yet, they’ll keep holding they down. 99.99% and maybe even buy a handful, still calling it DCA. Like someone once sang, “You gotta know when to fold’em, know when to hold’em.” - I hope some of them will leave but not the hard way. Maybe they’ll listen to those who have been through a long bear market, weathered a crypto winter. … naaaahhh, they won’t. Sad.

Romando1

First off - there IS NO SELLING. Next - you need an ID. An ATM might work. Have fun with the overhead costs.

Userid77

Do Bitcoin ATM’s require an ID?

Trevor_GoodchiId

I don’t get what’s going on on ByBit. It’s still being traded in 0.01-0.03 range. ETH deposits are suspended ATM, so it’s insulated from other exchanges.

wildbillc13

Futures are up ATM

Revolutionary-Cow862

This is why i just stick to DCA and not "buying the dip" i have money sitting aside that i could pour into crypto ATM but i will just stick to a DCA amount im comfortable with each week. Eventually we will hit ATH's again just gotta hope i have not picked the nxt LUNA

RipperFromYT

Being that Bitcoin even with lighting network can't possibly handle mass world adoption onto it's network it blows my mind how Litecoin is constantly overlooked. Litecoin has all the same principles as Bitcoin. Decentralized (no one can shut it down), Proof of work, it's faster, it's substantially cheaper to use (it's also the 3rd most transactioned on network on a daily basis).. In a couple weeks it literally gets privacy which makes the coin fungible... So weird how this sub always forgets about it or worse they say "Charlie Lee sold all his LTC at the top" (which isn't true at all, and he has been constantly behind the scenes these last few years and also helped fund the LTC foundation..etc)... They say "Litecoin isn't needed because of Bitcoin". As I stated at the beginning Bitcoin can't handle the worlds decentralized money on it's own. Period. LTC is already in pretty much every ATM Bitcoin is available in. It's one of the very very few coins that the SEC wont call a security.. Litecoin gets used more than almost every single network out there already. Yet the trading market being blinded by NFT's or other new and shiny coin forget about fundamentals. 10 years uptime, zero downtime. Not even Bitcoin can say that let alone every single other coin out there.

Nada_Lives

Bitcoin transfers money P2P, wallet to wallet. That is all that it does. The camera, the water company, the bank, the ATM, and the unfair system were not within Bitcoin's control.

koottravel

Down 50% for the year ATM.

AXTurbo

bank robbers which are blowing up a money ATM incl. half of the bank, are also "here for the money"... doesn´t mean that this is the exemplary way for anyone.

2Panik

Btc ATM

Brew-Drink-Repeat

Ah fuck ‘em, find a BTC ATM and slide that useless fiat arsepaper in with abandon!