No I havent and quite frankly they dont make a lot of sense to me. It isnt like it is cash, something you take out.
But I think they are becoming popular in some areas.
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No I havent and quite frankly they dont make a lot of sense to me. It isnt like it is cash, something you take out.
But I think they are becoming popular in some areas.
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Bitcoin ATM's are everywhere. You say it isn't like it is cash, something you take out, but if you want to avoid exchanges or banks, you use cash. you can create a new wallet at the ATM and hold your BTC in that wallet, then sell it when you want.
I have used it in the past, have bought BTC, transferred directly to my Trezor.
Obviously if you're a big player, which I'm not, then you go for another option.
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Ah okay. So that is the point of them. You dont take cash out but put it in. So the cash goes in and puts it on your bitcoin wallet?
Is that how they work?
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Yes, exactly. You buy Bitcoin with cash, 5 currencies are accepted at the moment, one is the local currency. But you can also sell Bitcoin and then you take cash out. However, when selling, you can only get local currency.
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Interesting concept. I can see how that is off value.
Two it is a physical cash exchange essentially.
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Yeah, I didn't really understand the point either... are they any easier to operate than just buying BTC online? Not sure why they are becoming popular or what problem they are aimed to solve.
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Yes, as Task said, ATMs basically have the function of being able to buy or withdraw our cryptocurrencies in FIAT.
The popularity consists precisely of the high demand for the service. But as there are now several crypto card options, it becomes a much better alternative than an ATM.
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I honestly dont have any idea about what purpose they serve or how much easier they are to use.
Perhaps they are converting fiat to crypto. Not sure out they could do that without a bank being involved by I guess it is possible.
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If banks does not get involved now, it's a Matter of time before the government start collecting taxes on it, because the company producing the machines will surely pay taxes, and still pay for the location the machine is planted. These payments Will surely reflect in the transaction made on the ATMs.
The machine makes no sense because it makes transactions traceable with is against the Pattern of crypto
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I wonder how long until the governments just start taking the machines out.
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You will see that as soon as they realize that they there is no point fighting against crypto, they will find a manipulative way to gain access to people's transactions, and the ATM is going to be a weak point
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Then people will need to adapt. There are always ways around things.
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It should be called as an exchange machine I guess if it allows converting crypto to fiat and then withdrawing it .
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