Quote from: Psicotico on June 26, 2018, 01:47:35 PM

In 2004, South Africa got its first ever bitcoin ATM at Kyalami in Johannesburg but reports say it was closed as there was no significant user interest in it.

No wonder there was no significant user interest. Cheesy

Quote from: Theb on June 26, 2018, 02:51:51 PM

Good start for South Africa but I don't think that Bitcoin ATMs don't give the best value for their money. As these ATMs will give you exchange rates that are different to what the world market is offering, and the rates are always in favor of the ATM business owner. I see rate differences to go up to 6-7% in certain atm machines which are obviously high, this rates also account for the fee of using the machine.

It's not as bad as it looks. In the continent of Africa local markets are very much thriving where premiums of 10-20% are paid in some cases. Based on that I think they will be able to handle the fees this ATM will charge. It might even result in a situation where the insane local premiums will come down significantly now there is a possibly cheaper option.

I think the steeper fees that ATM's charge are more of an obstacle to spoiled western Bitcoiners that are used to buy all their coins through exchanges with low fees.