Buying and Selling STEEM for Cash without Cumbersome Experience
Hi fellow members,
Before I start writing please, allow me to say that I am not native in English (I started learning it quite late in my life actually) so you might find it funny how I construct my sentences. If you could, please, point out some mistakes or give some suggestions regarding my writing, that would be appreciated.
I get into it!
Steemit is getting more and more popular every single day, making its way to the top of the list of the blockchain technologies. I am regularly checking the stats and the website’s ratings but you certainly do not need to do that in order to see the trend. There are many articles now on the internet and in the mainstream media talking about the creative authors who receive mind-blowing rewards. More and more people are getting interested and want to share the success. Many of them are new to cryptos and when they want to buy some STEEM they realise that they need to buy some Bitcoin first. Some find it confusing and too technical even to create Bitcoin wallets or to choose trusted and reputable exchanges where they comfortably share their credit card details. It would be great to buy some from an ATM.
Bitcoin has been and still is the quickest gateway into the cryptocurrency world. Its age and its wide acceptance made it available to anyone in almost every country in the world. If someone needs a bit more privacy or does not want to bother with the registration for the exchanges, Bitcoin ATMs offer the perfect solution to that.
Quite a few companies started manufacturing, and selling Bitcoin ATMs worldwide in the last 3 years. Since then they have installed more than 700 machines combined. They offer convenient ways of selling and buying the tokens. No wonder their numbers are growing.
Leading Bitcoin ATM manufacturers
| Manufacturer | No. of Bitcoin ATMs installed |
|---|---|
| Genesis Coin | 256 |
| Lamassu | 168 |
| Gemeral Bytes | 106 |
| BitAccess | 61 |
| BitXatm | 36 |
Those of you who have been trading bitcoin recently probably were not impressed with the average of 10-minute transaction speed. Probably we are not going to use Bitcoin in the future for paying our coffee as it looks today. However we still need to hold some if we have intention to buy other cryptocurrencies.
Now you can buy and sell Ether for cash on some of these ATM machines and its 15-second transaction speed certainly puts a smile on your face. Imagine adding STEEM next to the list. Implementing STEEM on these existing ATMs would be wonderful to those who do not want to get into other cryptos, just conveniently buy some STEEM for cash, e.g. to increase their voting power. Living in the era of cryptos and smart tokens we need to find other, simpler ways to purchase them. Gateways are expensive (commission, fees) and not very efficient and it can be a complicated experience for newbies. Steemit ATMs would make this process much easier. It certainly would help spreading its acceptance too. I hope we see them coming soon.
Thanks for reading my thoughts!
Kind regards,
Andrew
Cool post! What about just spending steem directly from your phone? For another perspective check out some of the work and posts by @kencode.
For example here: https://steemit.com/crypto-news/@kencode/first-public-demo-of-the-new-smartcoins-wallet-and-blockpos
Thanks for reading! I will certainly have a look at it. Spending crypto is quite easy these days I think. I wanted to bring attention to how hard for some newbies to get started in the crypto world. Once crypos are widely accepted we do not want to go back to FIAT, but until that happens we need to bring more FIAT into the cryptoworld in order to make great progress in developement. Crypto ATMs are brilliant to tackle this problem.
I had also some similar idea's : https://steemit.com/steemit/@yonuts/extending-steem-and-steemit-into-the-real-world
Thanks for reading and the link. I have just read your article and I like it! Hope these ideas become reality soon!
For an example of the fun that crypto atms bring: https://steemit.com/money/@veerprit/steemit-money-is-real-you-guys
delivers
Thanks for commenting! Very nice demonstration! :)
Very neat! I've hit up the bitcoin atm machines and they're awesome!
Thank you! I find crypto ATMs awesome too!
A Steem ATM wow, that would be cool. Guess we will have to see what the future holds :)
Thanks for your reply! Yeah, future is going to be so much fun! :)
Let's hope for the best on Steemit and Steem ATM's. This way we would not care about money and do what matters in our lives.
Thanks for reading! That is true!
Definitely an interesting idea although I think the Steem team is focused on other things right but down the road this and somehow online fiat integration would be amazing for the platform.
Thank you! Definitely, I think it would help to get more people on board.
Thanks for the upvote!
The transaction time means very little. When you pay for your coffee with a debit card the transaction is completed at the console but the merchant might not receive the money for up to four days depending on the company. Debit or traditional networks are much slower than Bitcoin.
That is true, bitcoin is much better and faster than traditional banking but there are other good cryptos out there.
It is but merchants will likely to use or will use an intermediary like Coinbase. That way you get your coffee right away. Now a cup of coffee is very little risk but if you were buying a computer from me and it was wallet to wallet, I'd make you wait :p
If I were a merchant I would not like to use any intermediary to be fair. It is better to receive the payment instantly but that is how I see it. I value your thoughts and comments. :)
Exactly!
I talked about this in my intro post here: https://steemit.com/introduceyourself/@thedailyhobbyist/damn-it-feels-good-to-be-a-gangster-my-steemit-predictions-and-office-space-inspired-introduceyourself-post-for-you-guys
“ Easier ways for crypto newbies for depositing and withdrawing Steem or Steem Dollars to USD or other currencies. “
Way to go ! Very exited!
#craig-grant
Thanks for reading!
Show some love back brother!
Just read a few of your posts great info! I just started following you.
Good luck!
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I upvoted You