Post
Topic
Board Bitcoin Discussion
Re: Can more ATM's increase adoption for Bitcoin?
by
Artemis3
on 27/09/2019, 20:00:54 UTC
I have never used a Bitcoin ATM to buy coins. I know there is a more inflated BTC price than on the exchange. However, for regions like Venezuela, Argentina, Africa, this is a necessary way to buy BTC.

An ATM is useless here, and as i found online, the only one exists in a border city, perhaps using foreign currency. My country leading Localbitcoin transactions isn't a coincidence, even their commission fee is a bit too high for daily use (ie. under 1 USD purchases), but the typical rates used by ATMs are unacceptable.

AND, it is physically unfeasible, as a single transaction would either empty or fill the ATM's safebox. Banknotes become paperweight in hyperinflation and you'd need a box of those to buy a simple thing, not even purchasing an appliance but perhaps a meal in a restaurant, or drinks in a bar...

Yes, i like how they project the BTC logo to the masses, but perhaps a sign would be cheaper and more effective (ie. with the shop qrcode of the owner's Bitcoin address).

Or they could do more sponsoring sports team thing.