Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: JorvikCoin on February 28, 2025, 05:31:55 AM
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
For those who are fortunate to have access to bitcoin ATM may prefer using it, while those who doesn't have access to bitcoin ATM may prefer using exchange. It's just like limitation to have access to the bitcoin atm, I can have access to exchange and use them to trade and send out money (fiat) to my local bank and uses it to purchase whatever I want, but those who that singly have access to bitcoin ATM can only use their atm and make purchase or carry out online payment, then, the shops or center must accept bitcoin before one could use the ATM for buying items.
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I don't have any access to a Bitcoin or crypto ATM so there is no choice for me but to use an exchange be a CEX or DEX depending on the specific coins or tokens that I need to exchange. Now, I am actually looking forward to experiencing withdrawing real cash money from a BTC ATM but this is not available in my country right now maybe due to no demand. However, am also concerned on price and fees involved...if an exchange can be better on this aspect then I would do it there most especially if there is already a P2P option which can be so convenient for anyone as I can then use my local money wallet app to finalize any transaction. These days, there are now many options and BTC ATM is now one of them though this is not as accessible as the usual ATMs from banks. Maybe 10 or 20 years from now even normal ATMs will be offering this as one of their products as banks are now looking at how they can make some money from cryptocurrency too.
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
I think it depends on what you value most. Bitcoin ATMs are great for quick, private transactions, but the fees can add up. Online exchanges often have better security and lower costs though they take a bit longer and need more personal info. I'd go with whatever feels right for your needs.
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I lean toward BTC ATMs for their speed and privacy, love grabbing crypto quickly without sharing personal details. But online exchanges feel safer for me with lower fees and better security features like 2FA. I think it depends on what you value most, speed or peace of mind. But for me I value both so maybe having an ATM machine with high security system is a plus to me.
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If crypto ATMs were available in my country I would be happy to use them for convenience purposes, provided that the fees they would take are reasonable.
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
It's basically a matter of choice. To start with, not everyone has access to bitcoin ATMs and in some regions they are basically just too foreign. As for exchanges people may make use of either centralized or decentralized exchanges and this actually depends on the preference of that person and how seriously he takes his privacy.
More of the persons that prefer to make use of decentralized exchanges are usually the ones that have more privacy awareness especially more than the average person.
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
We don't have a Bitcoin ATM yet here in our country. I wish we could have one day, so our locals only trade on online exchange, so I cannot compare the differences.
But I'm ok with online exchange; the fee is still cheap, but like all the other cryptocurrency holders, we want to have more options to trade our coins; the more, the better for the community.
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The uses of ATM differ from the uses of Online Exchange, as you use ATM machines when you want to withdraw cash to buy products or from stores that do not accept payment in cryptocurrencies, while the uses of Exchange are broader and can be used in trading, staking, lending, and financial transfers.
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
There are no Bitcoin ATMs here, so the main option is online exchange. I think both have their own advantages and disadvantages, but for me whichever is faster transaction speed and security will be my priority and that is what I will choose.
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
Bitcoin ATM are expensive and not available at every corner while exchanges are available 24/7, so what do you prefer privacy or the convenience. Even with online exchanges you got ways to buy or sell cryptos without going through KYC verification via anonymous exchanges or decentralised P2P like Bisq.
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OP, to the best of my knowledge, not all countries are currently opportuned to have Bitcoin ATM at the moment, although some countries do have it and Crypto enthusiasts in that countries do make use of it because of its privacy but however, in some part of the world, online Crypto exchange are mostly preferable because of the privacy and safety it entails. Exchange have p2p functions were you can convert your token or coin to cash just like the ATM and it is more convenient than going to the bank and standing on the que.
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
Using ATM will more easier to cash out bitcoin but for this moment it is very hard to find bitcoin ATM. People are not used to Bitcoin yet. And Bitcoin is not legalized in all countries and even in countries where it is legalized, Bitcoin is not widely used as open as FIAT money. So Bitcoin ATMs are very hard to find everywhere. Those who have access to ATM can use ATM but those who do not have access to ATH must use exchanger.
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I lean toward BTC ATMs for their speed and privacy, love grabbing crypto quickly without sharing personal details.
Where is the speed and privacy in this?
The ATM is not right in your bedroom you have to go there, you have to come back, you need to deal with the steps in buying it, veryign your address one hundred times to be the same, wait for the confirmation, hold to dear life on the receipt, and then the privacy? Most of them ask for ID for sums over a few hundred dollars, and if you buy less, the fees will take 1/3 of your coins.
Plus, ATMs have cameras, the guys selling you the coins know your face, know your address where you deposited the coins, the so-called privacy is highly misleading.
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I lean toward BTC ATMs for their speed and privacy, love grabbing crypto quickly without sharing personal details.
Where is the speed and privacy in this?
The ATM is not right in your bedroom you have to go there, you have to come back, you need to deal with the steps in buying it, veryign your address one hundred times to be the same, wait for the confirmation, hold to dear life on the receipt, and then the privacy? Most of them ask for ID for sums over a few hundred dollars, and if you buy less, the fees will take 1/3 of your coins.
Plus, ATMs have cameras, the guys selling you the coins know your face, know your address where you deposited the coins, the so-called privacy is highly misleading.
On top of that, ATMs are not suitable for big purchase or selling, let's say someone wants to buy 100 Bitcoins which is not feasible through any ATM, and also some of the countries where ATM is available has cap limit per Transactions that makes it highly inconvenient.
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Honestly, I have never tried Bitcoin ATMs before because they are not available in my country, so it is difficult to judge which one is better, them or online exchanges.
But I expect Bitcoin ATMs to be an attractive option for me instead of transferring from exchanges to a bank account and then withdrawing from the bank, I think withdrawing from Bitcoin ATMs will be easier and better even if there is a slight increase in fees.
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Unfortunately, there are no Bitcoin ATMs in my country. If there were, I would use them. In my opinion, it would be more efficient to withdraw my Bitcoins, just like with a regular fiat ATM. However, I do not rule out the possibility of still using an exchange where I still have altcoins that I want to exchange.
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
I prefer the availability option we don't have Bitcoin ATMs here so I have to choose either online exchanges for p2p or either I have to make face-to-face or offline P2p but till now I have used most of the time exchanges p2p to cash out my bitcoin into fiat.
That is not the most anonymous way to convert your cash therefore we can also prefer decentralized platforms too for p2p but I prefer centralized ones. Bitcoin atms have high fee and they have to be visited in person to cash out not safe in a country like mine if we have one. I would go for online p2p in any condition but to test out Bitcoin ATMs I will give it some try.
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I haven't been to any Bitcoin ATM myself but I have read that they require you to pass some KYC verification before you could use them too which is similar to a centralized exchange. If that is the case, how's the privacy different in that? Depending on the area where it's located, security is also going to be an issue.
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Unfortunately, there are no Bitcoin ATMs in my country. If there were, I would use them. In my opinion, it would be more efficient to withdraw my Bitcoins, just like with a regular fiat ATM. However, I do not rule out the possibility of still using an exchange where I still have altcoins that I want to exchange.
In my country Bitcoin is only permitted for investment not yet used as a means of payment, so in my country there is also no Bitcoin ATM.
Maybe if Bitcoin has begun to popular in the future, we will see Bitcoin ATMs.
The government allows Bitcoin as an investment, for me it's good. because before we always heard bad news
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I prefer the Bitcoin ATM mechanism when withdrawing to FIAT.. but because in my area there is no Bitcoin ATB yet, so the only option is through an exchange... using a Bitcoin ATM is actually simpler, although the exchange rate will be slightly different, but it is worth it for the privacy offered because without having to use KYC...
On the exchange, we will indeed get some advantages too, such as more updated exchange rates and a transaction process that is not so long for working hours, but the KYC that we have sent when registering makes our financial flow open and privacy is lost.. if there is a Bitcoin ATM machine, I will use it...
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Unfortunately, there are no Bitcoin ATMs in my country. If there were, I would use them. In my opinion, it would be more efficient to withdraw my Bitcoins, just like with a regular fiat ATM. However, I do not rule out the possibility of still using an exchange where I still have altcoins that I want to exchange.
In my country Bitcoin is only permitted for investment not yet used as a means of payment, so in my country there is also no Bitcoin ATM.
Maybe if Bitcoin has begun to popular in the future, we will see Bitcoin ATMs.
The government allows Bitcoin as an investment, for me it's good. because before we always heard bad news
It's the same in my country there are no bitcoin ATMs, only local exchanges, but that doesn't rule out the possibility of people investing in bitcoin, especially since our society is tempted by FOMO, a trend, so many people already know about crypto adoption in society, hopefully in the future bitcoin will be legalized to be used as a legitimate investment
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The uses of ATM differ from the uses of Online Exchange, as you use ATM machines when you want to withdraw cash to buy products or from stores that do not accept payment in cryptocurrencies, while the uses of Exchange are broader and can be used in trading, staking, lending, and financial transfers.
Bitcoin is a digital asset or money, Btc ATM machine is just for transfers and payments of item bought online from the online shops that accept payments on bitcoin. I think that ATM machine is not yet a global thing, there are many countries that has not started using Bitcoin ATM, and with time in near future, the use of ATM machine will spread to others countries, especially as awareness and adoptions increases.
As it stands, exchanges on Bitcoin is very common and there are actually many options for transactions worldwide.
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
I still prefer transacting online because of the fact that Bitcoin ATM's could have a much more expensive or higher fees compared to exchanges. I have heard and read some conversations before from the other forum that some of our local member tried to transact and yeah fee is quite high maybe that was because it has no competitors and using ATM for me is not an option to be honest if fees are intolerable.
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On top of that, ATMs are not suitable for big purchase or selling, let's say someone wants to buy 100 Bitcoins which is not feasible through any ATM, and also some of the countries where ATM is available has cap limit per Transactions that makes it highly inconvenient.
100 BTC?
Atm are not good for anything above 0.1 BTC, let's assume you're paying cash, even in the US or EU that means 100 bills, good luck not dying of anger while you keep feeding those to the machine. Let's assume you're in Russia and the highest denomination would get you 200 bills, in India 40,0 and these are some random examples.
But more importantly, how do you get that amount of cash in the first place?
And if you pay with card, then why not do the purchase online anyhow?
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
I don't think we can make use of the bitcoin ATM if we are more concerned about making a lower transaction fee rate, because the use of ATM charges higher fee than most exchanges, but on the other hand, we also have to consider the implications of using the exchanges as well, because they have their own disadvantages such as revealing of private informations and how they appear to be a custodial storage to our crypto assets.
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
I have never used a Bitcoin ATM, so I cannot say for sure, but personally, my preference at the moment is online exchanges. When I finally get to use an ATM for Bitcoin, I'm pretty sure it will not overtake the preference I have for online exchanges because of the extra privacy I can have using my mobile phone in a private corner, unlike a Bitcoin ATM that will be situated in a public place.
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It's the same in my country there are no bitcoin ATMs, only local exchanges, but that doesn't rule out the possibility of people investing in bitcoin, especially since our society is tempted by FOMO, a trend, so many people already know about crypto adoption in society, hopefully in the future bitcoin will be legalized to be used as a legitimate investment
Bitcoin has become a legal investment in my country, unfortunately it cannot be used as a payment method. even though we also heard news in Elsavador that bitcoin can be used as a payment.
but with it being legalized as an investment tool, we are grateful. Because previously we were hesitant to invest in crypto, because we were afraid of getting into legal trouble.
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It's the same in my country there are no bitcoin ATMs, only local exchanges, but that doesn't rule out the possibility of people investing in bitcoin, especially since our society is tempted by FOMO, a trend, so many people already know about crypto adoption in society, hopefully in the future bitcoin will be legalized to be used as a legitimate investment
Bitcoin has become a legal investment in my country, unfortunately it cannot be used as a payment method. even though we also heard news in Elsavador that bitcoin can be used as a payment.
but with it being legalized as an investment tool, we are grateful. Because previously we were hesitant to invest in crypto, because we were afraid of getting into legal trouble.
The decision to accept Bitcoin as an investment must be absolutely right for many citizens who until now did not decide to participate in this process. There is always regulatory risk and what will help is having legal certainty as we can invest without fear of experiencing some issues down the road. While in several other countries it cannot be used as an instrument of payment of goods and services at least there is a step forward which can give more confidence to the public to acknowledge Bitcoin as a legally accepted asset. This also provides a broader platform for the development of the crypto ecosystem to grow where the future of investment is more secure.
May I know which country you are from? I know only a few countries that legalize Bitcoin.
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It's the same in my country there are no bitcoin ATMs, only local exchanges, but that doesn't rule out the possibility of people investing in bitcoin, especially since our society is tempted by FOMO, a trend, so many people already know about crypto adoption in society, hopefully in the future bitcoin will be legalized to be used as a legitimate investment
Bitcoin has become a legal investment in my country, unfortunately it cannot be used as a payment method. even though we also heard news in Elsavador that bitcoin can be used as a payment.
but with it being legalized as an investment tool, we are grateful. Because previously we were hesitant to invest in crypto, because we were afraid of getting into legal trouble.
regulatory issues, the law is what is most feared instead of investing but can lose in an instant, as we know from the beginning there will be many risks faced when investing in crypto but this has become our choice of comfort in investing.
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It's the same in my country there are no bitcoin ATMs, only local exchanges, but that doesn't rule out the possibility of people investing in bitcoin, especially since our society is tempted by FOMO, a trend, so many people already know about crypto adoption in society, hopefully in the future bitcoin will be legalized to be used as a legitimate investment
Bitcoin has become a legal investment in my country, unfortunately it cannot be used as a payment method. even though we also heard news in Elsavador that bitcoin can be used as a payment.
but with it being legalized as an investment tool, we are grateful. Because previously we were hesitant to invest in crypto, because we were afraid of getting into legal trouble.
At least this is a good step taken by your government to making sure Bitcoin is heard in your country. For the fact that your country already accept it as an investment, it definitely means that in the feature to come, there might likely be a revisit to implement it being a means of exchange for services.
As for now, you can use Bitcoin as a reserve for your assets while you watch it increase in value, you can also trade with it maybe you could make more profit from it without the government coming after you.
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It's the same in my country there are no bitcoin ATMs, only local exchanges, but that doesn't rule out the possibility of people investing in bitcoin, especially since our society is tempted by FOMO, a trend, so many people already know about crypto adoption in society, hopefully in the future bitcoin will be legalized to be used as a legitimate investment
Bitcoin has become a legal investment in my country, unfortunately it cannot be used as a payment method. even though we also heard news in Elsavador that bitcoin can be used as a payment.
but with it being legalized as an investment tool, we are grateful. Because previously we were hesitant to invest in crypto, because we were afraid of getting into legal trouble.
At least this is a good step taken by your government to making sure Bitcoin is heard in your country. For the fact that your country already accept it as an investment, it definitely means that in the feature to come, there might likely be a revisit to implement it being a means of exchange for services.
As for now, you can use Bitcoin as a reserve for your assets while you watch it increase in value, you can also trade with it maybe you could make more profit from it without the government coming after you.
Just enjoy the process for this, being able to invest and buy and sell without any burdensome pressure from the government is something I am very grateful for even though they charge taxes, but in my opinion it is still within reasonable limits.
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It's the same in my country there are no bitcoin ATMs, only local exchanges, but that doesn't rule out the possibility of people investing in bitcoin, especially since our society is tempted by FOMO, a trend, so many people already know about crypto adoption in society, hopefully in the future bitcoin will be legalized to be used as a legitimate investment
Bitcoin has become a legal investment in my country, unfortunately it cannot be used as a payment method. even though we also heard news in Elsavador that bitcoin can be used as a payment.
but with it being legalized as an investment tool, we are grateful. Because previously we were hesitant to invest in crypto, because we were afraid of getting into legal trouble.
At least this is a good step taken by your government to making sure Bitcoin is heard in your country. For the fact that your country already accept it as an investment, it definitely means that in the feature to come, there might likely be a revisit to implement it being a means of exchange for services.
As for now, you can use Bitcoin as a reserve for your assets while you watch it increase in value, you can also trade with it maybe you could make more profit from it without the government coming after you.
Just enjoy the process for this, being able to invest and buy and sell without any burdensome pressure from the government is something I am very grateful for even though they charge taxes, but in my opinion it is still within reasonable limits.
Yes, it is within reasonable limits that they can buy, sell, and hold even going as far as using it as a store of value or reserve for their assets. However, the government is not left out because they too benefit from the transactions as they involve crypto traders in their countries and this means more income and revenue for them.
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
Are you talking about Automated Teller Machine? Gee, I thought it's still something under development, though only having in mind that El Savador is/will be the only one using it if it has already been in existence. It's cooling hearing this.
For me, I make use of exchanges, cause Bitcoin or Crypto ATM is one thing I'm not sure of getting access to anytime soon. Without the presence of it, there's no using it. Exchanges are fast, convenient and at the rest of your home. It doesn't really need walking or standing in some que.
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Yes, it is within reasonable limits that they can buy, sell, and hold even going as far as using it as a store of value or reserve for their assets. However, the government is not left out because they too benefit from the transactions as they involve crypto traders in their countries and this means more income and revenue for them.
If we transact on a local exchange, of course we will pay taxes or be charged fees. and the government will take advantage of the tax revenue.
there are many things we can do in crypto including transacting on local exchanges. However, if we transact on a global exchange, our country's government has difficulty collecting taxes.
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It seems that there are pros and cons to using ATMs or online exchanges when making transactions. Yes, it is related to privacy, convenience, and sometimes also related to the costs. They have their own pros and cons.
Personally, for now there is no option to withdraw or transact Bitcoin or crypto via ATM. Yes, because it is not yet available in my area. So you can only do it using an online exchange. And of course, it also has to be a local exchange registered with our state institution. Yes, they have to be centralized, this is annoying because there is no privacy, but it tends to be safer than doing P2P with people we don't know. Unless you already know each other, it is much better with P2P.
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
Transaction fees is high on BTC atm's and that is why a lot of people do not use it, many times they also request for kyc, so it makes it no different from a centralized exchange, just a little bit less convenient. Needless to say that it is hard to find a BTC atm, depending on where you are living.
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
I would prefer online exchanges because they are easy to access anywhere in the world, while to access these bitcoin ATMs we have to reach some specific points and TBH for a crypto holders such ATMs can't be save, therefore anonymity is the top priority in regions where the crime rate is high.
I heard a news that some YouTuber girl was murdered while the group of people asked her for crypto and in the end they killed her, the point is we should never reveal we have crypto and thus if we go to such points to withdraw funds others can easily know we have crypto, and in their minds they will think we have more and more and they harm us too, I know I am being too paranoid here but this is the reality.
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I simply want to do imaging, the most significant difference between a bitcoin ATM and an exchange is ease of access. A bitcoin ATM allows you to buy bitcoin with cash in a few easy steps, often at a physical location to close to your home. This feature is a huge advantage so especially for those who are new to cryptocurrency or prefer to handle their financial transactions privately.
In contrast, cryptocurrency exchanges require you to set up an online account, go through a lengthy verification process and understand how to navigate a digital platform which can be difficult for beginners.
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I simply want to do imaging, the most significant difference between a bitcoin ATM and an exchange is ease of access. A bitcoin ATM allows you to buy bitcoin with cash in a few easy steps, often at a physical location to close to your home. This feature is a huge advantage so especially for those who are new to cryptocurrency or prefer to handle their financial transactions privately.
In contrast, cryptocurrency exchanges require you to set up an online account, go through a lengthy verification process and understand how to navigate a digital platform which can be difficult for beginners.
Downside for Bitcoin ATM'S is that fees are quite high and these machines are also isolated in most areas especially in third world countries like mine. Availability of these machines can only be seen in huge cities the reason why this is not accessible to most Bitcoiners. Here in my province there is no such thing as Bitcoin ATM and based on what I read online fee is way too high.
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
Transaction fees is high on BTC atm's and that is why a lot of people do not use it, many times they also request for kyc, so it makes it no different from a centralized exchange, just a little bit less convenient. Needless to say that it is hard to find a BTC atm, depending on where you are living.
There are not many bitcoin ATMs, even in big countries that have not accepted and allowed bitcoin as a payment method or investment, we will not meet bitcoin ATMs. High gas fees and if it is not yet popular in a country will make the ATM unsaleable.
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There are not many bitcoin ATMs, even in big countries that have not accepted and allowed bitcoin as a payment method or investment, we will not meet bitcoin ATMs. High gas fees and if it is not yet popular in a country will make the ATM unsaleable.
Just a small correction, it is transaction fees, i don't like BTC transaction fees being called gas fees. However, you are right, before we can put forward a question of centralized exchange or BTC ATM, there has to be BTC ATM's wherever one turns to, but we know that is not going to happen.
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There are not many bitcoin ATMs, even in big countries that have not accepted and allowed bitcoin as a payment method or investment, we will not meet bitcoin ATMs. High gas fees and if it is not yet popular in a country will make the ATM unsaleable.
Just a small correction, it is transaction fees, i don't like BTC transaction fees being called gas fees. However, you are right, before we can put forward a question of centralized exchange or BTC ATM, there has to be BTC ATM's wherever one turns to, but we know that is not going to happen.
Yes, even if you want to ban a new meme project that is about to be launched, this is also quite difficult. because there is no platform or certain party that regulates all of this. moreover, this also depends on the community, how the developers attract a lot of attention and make the meme tokens community bigger for their project. and the way is indeed related to the hype.
So what we can do is we personally have to fortify ourselves from various things, if you are interested in entering meme coins, make sure that we have a good handle and understanding of when to enter and when to exit. don't just follow FOMO, you will lose.
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There are not many bitcoin ATMs, even in big countries that have not accepted and allowed bitcoin as a payment method or investment, we will not meet bitcoin ATMs. High gas fees and if it is not yet popular in a country will make the ATM unsaleable.
Just a small correction, it is transaction fees, i don't like BTC transaction fees being called gas fees. However, you are right, before we can put forward a question of centralized exchange or BTC ATM, there has to be BTC ATM's wherever one turns to, but we know that is not going to happen.
Yes, even if you want to ban a new meme project that is about to be launched, this is also quite difficult. because there is no platform or certain party that regulates all of this. moreover, this also depends on the community, how the developers attract a lot of attention and make the meme tokens community bigger for their project. and the way is indeed related to the hype.
So what we can do is we personally have to fortify ourselves from various things, if you are interested in entering meme coins, make sure that we have a good handle and understanding of when to enter and when to exit. don't just follow FOMO, you will lose.
We can't ban meme projects because some of them is not scam. From the word "meme" we understand that investing in this type of project is very risky. Most of the meme projects have no utility, so what we have to expect in them? Nothing. But because of the hype, there are whales who invested in it that's why we can see some meme projects have billions of marketcap. The only thing we can do if you don't like meme projects is to avoid investing in them, this is the best thing you can do.
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I simply want to do imaging, the most significant difference between a bitcoin ATM and an exchange is ease of access. A bitcoin ATM allows you to buy bitcoin with cash in a few easy steps, often at a physical location to close to your home. This feature is a huge advantage so especially for those who are new to cryptocurrency or prefer to handle their financial transactions privately.
In contrast, cryptocurrency exchanges require you to set up an online account, go through a lengthy verification process and understand how to navigate a digital platform which can be difficult for beginners.
Downside for Bitcoin ATM'S is that fees are quite high and these machines are also isolated in most areas especially in third world countries like mine. Availability of these machines can only be seen in huge cities the reason why this is not accessible to most Bitcoiners. Here in my province there is no such thing as Bitcoin ATM and based on what I read online fee is way too high.
Bitcoin is still illegal in many countries so if its acceptance increases in every country in the future, then bitcoin ATM will be available everywhere. There are thousands of bitcoin ATM in the United States. These include traditional ATM where customers can purchase bitcoin using their debit cards or cash kiosks so where customers can purchase bitcoin using cash. Moreover, if you prefer to buy groceries in person rather than online then it may be more suitable for you than buying bitcoin directly. Bitcoin ATM provide convenient and instant access to your bitcoin. They do this by accepting instant and irreversible payment methods to prevent fraud.
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Are you talking about Automated Teller Machine? Gee, I thought it's still something under development, though only having in mind that El Savador is/will be the only one using it if it has already been in existence. It's cooling hearing this.
Bitcoin ATMs have been around for a decade, there are 30 000 of them in the US alone.
Downside for Bitcoin ATM'S is that fees are quite high and these machines are also isolated in most areas especially in third world countries like mine. Availability of these machines can only be seen in huge cities the reason why this is not accessible to most Bitcoiners.
Sorry, but of all arguments this one doesn't make sense.
If ATM are in big cities, then that's where the majority of the population is, so unless you're going to tell me that most of bitcoiners live in rural areas, which of course is nowhere near true, then this doesn't make sense.
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Are you talking about Automated Teller Machine? Gee, I thought it's still something under development, though only having in mind that El Savador is/will be the only one using it if it has already been in existence. It's cooling hearing this.
Bitcoin ATMs have been around for a decade, there are 30 000 of them in the US alone.
Downside for Bitcoin ATM'S is that fees are quite high and these machines are also isolated in most areas especially in third world countries like mine. Availability of these machines can only be seen in huge cities the reason why this is not accessible to most Bitcoiners.
Sorry, but of all arguments this one doesn't make sense.
If ATM are in big cities, then that's where the majority of the population is, so unless you're going to tell me that most of bitcoiners live in rural areas, which of course is nowhere near true, then this doesn't make sense.
I've noticed bitcoin ATMs pop up mostly in big cities where tons of people want them. It's cool for city folks but it kinda leaves me and others in small towns or out in the country stuck. The worst part? Those crazy high fees, they really add up! I'd love to see more ATMs around and cheaper costs I could actually use them more.
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I've noticed bitcoin ATMs pop up mostly in big cities where tons of people want them. It's cool for city folks but it kinda leaves me and others in small towns or out in the country stuck.
Well, ATMs are no different than any other kind of business that relies on walking customers, persons going physically into a store.
You obviously don't have a superstore or a mall there either, since they wouldn't have that many clients, same with the ATM if there are 2-5 persons buying $50 worth of coins a month, would that math even the gas paid for a technician to drive there?
Banks can sink their cost for ATM in remote regions from other business, crypto exchanges can't as this is their only business.
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It's cool for city folks but it kinda leaves me and others in small towns or out in the country stuck. The worst part? Those crazy high fees, they really add up! I'd love to see more ATMs around and cheaper costs I could actually use them more.
I can understand your feeling. My parents house is located in a village far from the city, and they didn't have access to fiber internet until a few years ago. I have had to spend a ton of money to buy internet quota in the past, with limited speed and other issues too. Luckily we managed to secure a fiber connection now, although it's still not stable to run a server for 24/7. I don't think you can expect the same thing for other services though, especially with crypto. Not until 10 years later at least.
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The uses of ATM differ from the uses of Online Exchange, as you use ATM machines when you want to withdraw cash to buy products or from stores that do not accept payment in cryptocurrencies, while the uses of Exchange are broader and can be used in trading, staking, lending, and financial transfers.
Yeah, Crypto Exchanges will always dominate Bitcoin ATM because there are many features on the exchanges, especially the CEX exchanges. The safety/security on CEX exchange is an added advantage over ATM machine, unfortunately, ATM machine are not yet in used in many regions and may lead to low adoptions in my opinion.
Again, the use of CEX exchanges has spread to a global level, it may be difficult for ATM machine to get wide acceptance like exchanges.
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I favor online exchanges more.
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Are you talking about Automated Teller Machine? Gee, I thought it's still something under development, though only having in mind that El Savador is/will be the only one using it if it has already been in existence. It's cooling hearing this.
Bitcoin ATMs have been around for a decade, there are 30 000 of them in the US alone.
Downside for Bitcoin ATM'S is that fees are quite high and these machines are also isolated in most areas especially in third world countries like mine. Availability of these machines can only be seen in huge cities the reason why this is not accessible to most Bitcoiners.
Sorry, but of all arguments this one doesn't make sense.
If ATM are in big cities, then that's where the majority of the population is, so unless you're going to tell me that most of bitcoiners live in rural areas, which of course is nowhere near true, then this doesn't make sense.
I've noticed bitcoin ATMs pop up mostly in big cities where tons of people want them. It's cool for city folks but it kinda leaves me and others in small towns or out in the country stuck. The worst part? Those crazy high fees, they really add up! I'd love to see more ATMs around and cheaper costs I could actually use them more.
I've been there! i've seen how bitcoin atm are mostly in big cities and those fees can hit hard, right? I'd love for them to show up in smaller towns like where I'm at and maybe not be so pricey to use. I'm hoping that as crypto gets bigger more companies will see the need and start placing ATMs in more spots even in rural areas. For now I've been looking into peer to peer exchanges since they're often cheaper and pretty easy to use which has been a lifesaver for me.
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I've been there! i've seen how bitcoin atm are mostly in big cities and those fees can hit hard, right? I'd love for them to show up in smaller towns like where I'm at and maybe not be so pricey to use. I'm hoping that as crypto gets bigger more companies will see the need and start placing ATMs in more spots even in rural areas. For now I've been looking into peer to peer exchanges since they're often cheaper and pretty easy to use which has been a lifesaver for me.
Dexes are a way to go.
And, think about it - how many people would use such ATMs in rural areas? I don't think not as many people are interested in crypto and BTC at all as you are.
But I do hope for this area to be developed where you are eventually.
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Haven't tried buying BTC from ATM but if some people prefer it because its anonymous it should worth trying. I haven't see an ATM in my country that sells BTC though.
But what so far I have done in the name of privacy is sending my digital cash to a p2p exchange. Its isn't as anonymous as they say because the platform knew records my ewallet but still I'm buying USDT and this USDT is used to buy BTC in another p2p exchange which somehow makes the receiving BTC wallet anonymous.
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Haven't tried buying BTC from ATM but if some people prefer it because its anonymous it should worth trying. I haven't see an ATM in my country that sells BTC though.
But what so far I have done in the name of privacy is sending my digital cash to a p2p exchange. Its isn't as anonymous as they say because the platform knew records my ewallet but still I'm buying USDT and this USDT is used to buy BTC in another p2p exchange which somehow makes the receiving BTC wallet anonymous.
It is important to understand and recognise that digital asset transactions do provide the flexibility as would be seen below as to the privacy of the transaction. Bitcoin ATMs may be favourable as far as anonymity is concerned when it comes to dispensing Bitcoins but when it comes to the direct purchase, a P2P exchanger could also be another option where you are willing to have more freedom with your assets. What you do is one of the most common approaches that are used in the business to retain one’s privacy while purchasing the BTC’s. Despite the records of the transactions this strategy offers more freedom as and when one has to manoeuvre the digital assets.
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
- I'm more used to using exchanges when I make transactions. Then it seems even more dangerous to transact bitcoin via ATM. Because what if there are people who notice you when you withdraw from an ATM and they have the idea that bitcoin is expensive even if it's just a small sum of bitcoin.
So for me it's safer to make transactions through exchange features that are p2p, at least our security is physically far from bad people unlike when you are at an ATM place where at any time something bad can happen to us.
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Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?
- I'm more used to using exchanges when I make transactions. Then it seems even more dangerous to transact bitcoin via ATM. Because what if there are people who notice you when you withdraw from an ATM and they have the idea that bitcoin is expensive even if it's just a small sum of bitcoin.
So for me it's safer to make transactions through exchange features that are p2p, at least our security is physically far from bad people unlike when you are at an ATM place where at any time something bad can happen to us.
I realise why direct dealer seems convenient to you than using a Bitcoin ATM. It does indeed come with some risks when transacting in a public place provided that people are not very conversant with the working of the Bitcoin system. This means that third party may come across the transaction and manage to mistaken the actual amount been withdrawn or sent. At some point, this can be unbeneficial, which is actually a risk. On the hand, if two parties relay on an exchange, particularly a P2P system, it is easier to do the transaction because all can be done through the internet since there is no need to consider physical security. Moreover, there are sundry protections of the exchanges that would make a trade much safer than having to be somewhere that can attract people’s attention.
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The services they both provide are completely different. Using one to compare with another does not make sense unless the end goal of your question is understood.
Some people prefer the speed and privacy of Bitcoin ATMs while others trust online exchanges more for security and lower fees. Which one do you think is better and why?