Today I check out another local Bitcoin ATM, so as to highlight some differences compared to my first ATM video.

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154 Replies to “Bitcoin ATMs – How To Use Them”

  1. thanks! that’s easy-peasy. my credit cards won’t go through on Bitstamp. even after I called them and told them to stop blocking the payment. I’m maxed out on Coinbase. wiring is too expensive. so I’m heading to Orlando tomorrow to buy me some BTC so I can spend it on Changelly. ah, so many coins! ~crossing my fingers it goes as well.

    1. Ja’Nice Christine H.
      Sounds like a key you need financial advise….. Well here it is….. STOP GOING CRAZY WITH THIS SHIT…… YOU’RE ABOUT TO LOSE YOUR MIND…😵😵

    1. Once you scan the QR code for the address (generated by whatever wallet it’s going to) and you put your money in the machine, it goes to that address and you can’t get it back.

  2. …this is embarassing for this guy, or anyone for that matter that thinks running to an ATM style machine, inserting bills, printing reciepts and entering phone numbers to transact in Bitcoins is how it should work. Not to mention paying ATM fees. THE ATM IS NOW OBSOLETE!!!! but I guess you have to start somewhere….

    The stupidity of this video (and peoples lack of understanding) that would tie B to an ATM is equivalent to insisting you run your newest OS upgrade on an abbacus…

    I wonder if your online banking through (insert the name of your bank here) will ever allow dirrect low or no fee conversion of your USD funds to B. …Dont count on it at least not for less than a typical banking fee…

    1. a little quick google search shows me Paxful in cooperation with my local bank branch of a regional chain will exchange for 13%!!!!!!!!!!  They’ve also TIED the exchange rate to something likely from about 2 years ago (719USD/BTC) , but caveats that my local bank does’ t have BTC they can offer in exchange for USD anyhow.  It needs to be arranged and may take 5 days.  As I suspected but…WTF?!!!!!!!

    2. you’re stupid. ATM’s are common and people already know how to use them. This is not obsolete, this is how you give people already trained to use a certain system an easy way to get BTC.

    3. TheIdiotChallenge Ok. I’ll persist in being “stupid”, in 5 years we’ll see if the ATM-to-crypto business model is still around. It won’t survive.

    4. ATMs won’t be around forever, I agree. However this is just one of a myriad of on ramps that are necessary to convert people from fiat to crypto. There are 30 of these things in my city alone, and I often see a couple people lined up nowadays.

      Eventually they will be unnecessary if everyone just uses crypto, but until that happens people will want a quick way to buy without signing up for an online exchange. At the moment, this is a solution that many people use.

  3. I need more explanation than this. How is it that you can cash out with the same ticket that already sends the btc to your btc wallet.

  4. Screw paper money, I’d like to see crypto-to-small change ATMs !
    Just a few coins for tiny purchases, fresh food markets, charity…etc
    You’d buy staff from non-crypto places in all privacy & without toilet paper.

  5. I just brought my first bitcoin today it was easy thanks 🙏🏽 for the great example from your fellow 🇨🇦 Canadian

  6. Question whats the app for Personal Wallet on ur phone i am using Bittrex Exchange and where can i find it on bittrex the QR Code to scan to the BTC ATM ?

  7. So i wana buy bitcoin n im tired of coinbase i have a ledger nano s but i dont have a mobile wallet (just don’t trust them) how would i scan my QR code?

    1. Would be cool to just get a recipe with a unique code and later whenever the person wants he or she can add the Bitcoins to their wallet.

  8. a free mining site that i just found out , its been 41 days since i start with their free 30 gh/s and i already withdraw twice (0.005),(0.6), what are you waiting the bitcoin price is increasing.DONT MISS THE CHANCE TO DOUBLE THE VALUE OF WHAT WILL YOU GOING TO EARN. YOU WONT LOSE ANYTHING. 5sMining.com/r/50285
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  9. There are much better ways in acquiring BTC! Do not use any ATM, they are rip-off crap that only take your money by charging you a crappy fee for using it. They want you to think it is really convenient but don’t waste your money on them.

    1. Alex G Feel free to suggest other methods of purchasing or selling BTC without needing to reveal personal information, or meeting up in person with strangers and risking losing all your currency.

    2. Well Dingo, what I did early on is I met up with local individuals in my community that were BTC enthusiasts and started trading with them using standard ways of buying/selling BTC. I suggest using something like that or going on LocalBitcoin. If you know someone that is willing to sell you BTC by simply sending you BTC to your personal address you really have much less to lose than using any ATM. What I really wanted to get across was not try to sound like a jerk but to warn all of you of the crazy ATM fees. Due to the fact that BTC is now getting more publicity, all the ATM owners are pumping up their ATM fees. You pay for that if you use it. So don’t. Some charge a 20-30% fee per $100! That’s insane!! They do it because they can get away with it. When people stop using the ATMs, those fees should go down. I just don’t recommend using ATM or Coinbase. Try getting connected with local BTC enthusiasts. Search on LocalBitcoin (I am not affiliated with them in any way… so I am not trying to bait you to LocalBitcoin). I hope this helps

  10. Good video thanks. The crypto currency buying and selling process is so ridiculous… print out a physical piece of paper, go away, wait for a text, return to machine… and this is the future of money?? Wow! Don’t get me started on the exchange sign up and verification process either, so frustrating!

  11. NEVER show your phone # online…hackers can switch your service to their phone. Change your passwords and steal your money

  12. Just to let everyone here know…this machine does not allow you to sell Bitcoin anymore. I was at Sunridge Mall Calgary yesterday and was not able to sell my bitcoin (machine cash withdraw). I can’t speak for the other machines but don’t waste your time. They allow deposit only. What a wasted of space! Anyone can purchase bitcoin through Coinbase or Coinmama in the comfort of their phone.

  13. I was there today….it’s a nice ATM machine and more user friendly than others. You can only buy bitcoin here you can no longer sell Bitcoin. The sell button was missing.

    1. ?

      That’s how businesses work – by charging a fee. A bank ATM charges a fee, an actual bank will charge you when you convert between national currencies, and the currency converters at the airport charge a percentage as well. Even going to an online crypto exchange it costs you money to get dollars into your account, costs for a trading fee, and costs to take money out.

      These machines can cost upwards of $15-$20 THOUSAND dollars each, not to mention operating costs. Of course the owner would charge a fee, they’re running a business.

    2. Everything involving money has a fee, how do you think businesses generate revenue to pay their employees ?

  14. Do I “have” to have a bitcoin wallet app or can I just buy bitcoin and receive a paper to retain safely, forever?

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    1. BTC Sessions what’s the point on selling a $20 just to wait around to sell that $20 and receive most likely the same 20 that you inserted. So, Yah wtf…

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    1. Morty Schoonover yeah it depends on location, but I agree – you end up paying for the convenience. In my city I believe fees range from 5-15% right now, but I’ve heard spots in the US that charge 25% or so.

  17. The bid ask implied by those operations was 1594 CAD – 1819 CAD per BTC. That spread seems unreasonable, the only thing the machine requires is an Internet connection and a money dispenser. Make it ten times narrower and I’ll start finding the device useful.

    1. The spreads are expensive I agree. However the costs of running such a machine are also above and beyond what you’ve stated. Some requirements not mentioned:

      1. The machine itself can cost in excess of $10,000 USD to purchase
      2. For being placed anywhere the operator will be paying a fee to rent the space. This could be flat rate or a percentage, depending on the venue.
      3. The expense of dealing with cash. It sounds odd, but this is often the biggest pain point. Banks in Canada HATE cryptocurrency and will close accounts at the drop of a hat, especially for operators of these machines. The operator needs a way to easily convert cash in the machine to credit on an online exchange, and rebuy more BTC to then sell to customers again. With no bank account, the percentage fees of secondary payment processors can be 2-3% or in some cases more.
      4. Insurance in case of theft is also a major expense. Regular ATMs get stolen all the time as well, but since crypto is a new industry the insurance companies have been charging a premium or just outright not offering service. If a machine gets stolen with a bunch of cash inside and no coverage, the operator can be out upwards of $20,000 – $40,000 with a single incident.

      In essence, I agree 100% that these things are expensive as hell to use. I also understand why that is the case though. The cost of convenience at the moment is extremely high.

    2. You are right, my comment was too simplistic, it is probably not affordable (yet!) for operators to offer truly narrow spreads. Maybe that hate you mention will need to disappear before we can see them, it is a matter of patience. For now the only clear advantage I can see over online exchanges is the possibility of low volume operations without any identification. Which might come in handy. But for now the cost is high.

    3. Totally agree here. I think some of the draw to these type of machines tends to be a degree of anonymity paired with not having to deal with wire transfers/etc – which has been a pain point lately for online Canadian exchanges.

      Hopefully over time a lot of these problems will be improved upon!

  18. My 1k has madevit to 1500 and it went down to 500 now. I didn’t touch it or sell. Now im waiting for it to go up and ill sell it completely.

  19. I’m sorry for the investors who are scared of selling their BTC because of the sudden fall. My manager (saviouritaman@gmail.com) who makes me not less than $4500 every week advised this is the best time to invest in BTC because it will shoot up to 30 thousand when it starts rising. So don’t be scared contact him to take a wise step as a wise investor. Don’t be fooled by Spammers.

  20. Unless you have a condition take off your freakin sunglasses inside… you’re not Brad Pitt and you look like a mo ron

    1. My condition is looking like Brad Pitt. Thanks for the input and commentary on the subject, Matthew. It’s super useful.

  21. There are a lot of business opportunities presented by bitcoin ATMs… most of the btc bought by fiat on these ATMs are from private wallets and certain people, myself included., make profits in continuum from the daily transactions.

    1. Being in the right place at the time I guess. I connected with a blockchain analyst on LinkedIn whose been actively involved in keeping me abreast with the information needed every bit of the way. You can contact him for more info on juliobernalofficials@gmail*com He’s open to anyone as long as you’re not a jester. Be sure to leave a message saying you got in contact with me so not to think you’re a spam.

    2. I know Dr Julio. Great guy!! He’s consulted and helped my financial problem since I started working with him. Investing in this business is the best thing that anyone with the right capital should go for. Unlike bitcoin mining or trading that leaves you with no transparency or control over your investment.

  22. Nice video…..I think the content is great but if you really want to understand how to trade and make some really amazing profits you should contact Pauline, she can help you out. I have made so much from trading with Pauline, right now I have made over 11 btc worth of profits from trading with Pauline’s recommended strategy

    1. I’m really interested in getting to know who this Pauline is, I have read so many recommendations about her and how she has helped so many people

  23. These ATM’s are ripping you off with their 9% fees.
    You buy $20 for .109 btc and sell $20 of .127 btc.
    You lose 20% of your money in a full cycle.

  24. Whats the minimum cash you can deposit into the atm in 2019? Im getting into cloud mining but still very new to the bitcoin world.

  25. Hello guys ! lovely video, I agree with you more than most ever will. I think it is ok buying more tokens and coins, i have been buying more bitcoins due to the sudden rise and for a future that it could moon or completely dip and cost you the Holding always fall that is primarily why I stopped holding. I lost more than 2/4 of my BTC and way more than half the value of my $5,000 Xrp. I was devastated and got desperate seeking for options to recover my loss when I stumbled upon brandon gaston on a youtube comment. After considering the odds, I contacted him via mail, and the result was life-changing. He gave me a basic understanding of the benefit of trading over holding especially in a speculative market. He then provided me with his daily signals and trading patterns, and within a month, I was able to make almost 80% on my BTCs, from 2 btc i made more up to 6 btc. Mr. brandon never asked me to give him access to my account, If you have any inquiries, you can reach him on *(( gastonbrandonn @ gmail .com ))* and gain reliable profit with your little experience on crypto.

    1. I have been trading cryptocurrencies for quite sometime now and i have recorded most of my wins with Brandon.

    2. Big thanks for sharing this again, mr. Brandon is the right trader to meet for help and i did not hesitate to contact him.

    1. +Eric coffey I mean, believe whatever you want, but can you point to something in the open source code that any user can independently run which lends itself to central control of a world government? If so then why would large centralized entities like the Bank of International Settlements and the Federal Reserve hate it so much?

  26. now i can differentiate who the secret rich outsider is when the mall is active and a magic person maifests with matrix monies.

  27. The atms should work more like a giftcard thing. A person can buy and gets a recipe with a unique code. Later at home they can then add at any time the code to their bitcoin wallet to receive their bitcoins.

    1. +BTC Sessions hey i just have one more ?
      On blockstream green once i have bitcoins on there when i spend them will there be a fee om this app??
      Please let me know bro

    2. +BTC Sessions hey bro,
      On block stream green.
      I plan to use bitquick.
      But ive noticed the adresses change each time.
      Once i receive my bitcoins.
      What adress would i use to buy online???

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