ATM or Online Exchange?

[Stompix]

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.

[MarcuB]

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.

[Stompix]

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.

[joniboini]

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.

[Bobcrypto]

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.

[kimberlyto65]

I favor online exchanges more.

[BlockCipherX]

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.

[omori]

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.

[target]

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.

[enwi]

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.

[Mr. Magkaisa]

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.

[enwi]

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.

[JollyGood]

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?