ATM or Online Exchange?

[yhiaali3]

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.

[MUGNIA]

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.

[ZAINmalik75]

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.

[Zed0X]

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.

[rizqillah]

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

[bayu7adi]

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...

[MUGNIA]

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

[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.

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.

[0t3p0t]

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.

[Stompix]

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?

[Aanuoluwatofunmi]

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.

[Rruchi man]

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.

[rizqillah]

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.

[enwi]

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.

[MUGNIA]

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.