Bitcoin ATM machine

[Sincerem]

You can't withdraw Bitcoin as it is because it's just a digital currency not a real currency so the question of being able to withdraw Bitcoin is not possible.
You can withdraw Bitcoin in our normal fiat currency because it's a physical currency.

That's true, it is a digital currency and not fiat currency. So one can't withdraw a digital currency, but can only withdraw a fiat currency. With Bitcoin ATM you can only convert your coins to fiat currency and withdraw it.

 

[Aniwhyte]

I don't have the practical experience but is something very much possible , if payoneer card could carry out USD to local currency conversion it should not be a big deal for bitcoin to USD conversion.

This is great, I'm really so glad to hear this. Things are rapidly changing as each and every day passes by, technology and new innovations are really taking over and to think that a lot of new innovations are yet to be implemented is really so surprising.

 

[Erik4150]

In my country we have bitcoin ATM's where you can send and receive bitcoin. You can also exchange your bitcoin for cash. Unfortunately this kind of ATM is only very few in my country even though my country is the second largest user of cryptocurrency.

 

[Nurudeen]

Yes that's possible. Bitcoin atm is now been distributed all over the world just to make things easier for those who are in the crypto currency exchange Business. But for now I think you can only see the Bitcoin ATM in USA and nigeria.

 

[roman roxas]

You can't withdraw Bitcoin as it is because it's just a digital currency not a real currency so the question of being able to withdraw Bitcoin is not possible.
You can withdraw Bitcoin in our normal fiat currency because it's a physical currency.

That's what I thought also. Maybe you can make use of the machine just to transfer funds or convert your cryptos to a physical currency. That way you can get cash from the machine. Cryptos will forever be just digital. I couldn't imagine one dispensing btc in a physical form.

 

[ahmedo24]

Yes that's possible. Bitcoin atm is now been distributed all over the world just to make things easier for those who are in the crypto currency exchange Business. But for now I think you can only see the Bitcoin ATM in USA and nigeria.

Bitcoin ATMs are only more in US but there are also in countries like Canada with 140 bitcoin ATMs, Slovenia , Finland , UK, Netherlands and few other countries already has it and operational.

 

[Damscooguns73]

Regarding a Bitcoin Atm machine, I have not seen one or heard about one before but am quite sure that there is a development going on it already because it is widely used now all over the world. It would be nice if there is actually one already

 

[Tienda]

There are many types of Bitcoin ATM and each machine with its process, so is depended on about what machine and country where you use it. I think if you access the coinatmradar.com there they have explained how to use some Bitcoin ATM.

 

[BrolySSJ]

That's what I thought also. Maybe you can make use of the machine just to transfer funds or convert your cryptos to a physical currency. That way you can get cash from the machine. Cryptos will forever be just digital. I couldn't imagine one dispensing btc in a physical form.

Yeah exactly. There is no way that any crypto will ever be in the form of a physical currency. Especially when it comes to currencies like bitcoin where it takes a 100 million satoshi to make up a single bitcoin. The denominations for the coin would be very hard to track and also it would defeat the purpose of the coin in its entirety as then crypto will become exactly the same as fiat which is not its intended direction.

 

[Iamsodex]

I heard some btc machines are available especially in USA and recently saw a post about bitcoin machine in Africa, I have seen any in operation but it would be cool to actually use one very soon. I believe more adoption of crypto currencies from the government will really enhance the installation of more btc machines in each country.

 

[iCesarkevin]

A bitcoin ATM is a standalone device or kiosk that allows members of the public to buy or sell bitcoin or other cryptocurrencies for a terminal. Bitcoin ATMs are connected to the internet and often utilize QR codes to send and receive tokens to users' digital wallets.

 

[Nicklas22]

I believe you can only send Bitcoin through the Bitcoin ATM machine
I have never heard when someone send he withdraw Bitcoin through the bitcoins ATM machine
But I need to make some enquiry before I can conclude
But with what I have heard, you can only send Bitcoin through the Bitcoin ATM machine

 

[Suba]

Can I withdraw Cryptocurrency (as in, a actual coin)from the Bitcoin machine or how does it work?

Bitcoin ATM machine is a means to sell and buy Bitcoin, if you buy Bitcoin either via cash or debit card, of course it will be sent to your bitcoin wallet (not real coin withdrawal), although the availability of Bitcoin ATM facilities is not the best for selling and buying Bitcoin but it is easy to use. This Bitcoin ATM is not connected to your bank account but will be connected directly to your wallet or crypto exchange. Bitcoin ATM fees are more expensive compared to exchange sites, also you cannot act anonymously because you use a confirmation sms phone number and Scan your ID.

 

[abubakar3141]

The Bitcoin ATM is a kiosk that allows a person to use cash or debit card to buy Bitcoin. Some Bitcoin ATMs have bi-directional features that allow both the purchase of Bitcoin and the selling of Bitcoin for cash.

 

[Olahab]

A Bitcoin ATM is a kiosk that allows a person to purchase Bitcoin by using cash or debit card. Some Bitcoin ATMs offer bi-directional functionality enabling both the purchase of Bitcoin as well as the sale of Bitcoin for cash

 

[Greatguy1]

This is the reason why bitcoin is truly the future of world currency. Bitcoin ATM should be able to perform transaction faster for users but it remains to be seen how long it will take to process a transaction. It will be available in the developed economies but take time getting across to developinv countries and parts of Asia.

 

[Blessedsam60]

Not just bitcoin only but crytocurrency ATM machines invention will be one of the outstanding improvement in digital currency world in this 21st century as this will make the global acceptability of crytocurrency more easier. Large investment has actually been made into crytocurrency market

 

[Hasan Raza]

It appears to be in numerous pieces of the world countries from Europe, there are ATM machines that additionally work in digital currencies.
Clearly I guess that it will be conceivable to pull out money in the cash of the current nation, eg: €uro, Dollar, Yen, and so forth.

 

[Nomad]

Bitcoin ATM works as a point for selling and buying bitcoin. When you deposit, you are buying and when you are withdrawing, you are selling. Since Bitcoin does not have a physical existence, you can only receive fiat currency when you withdraw (if that was the option you choose). You also have an option to send to your wallet.

 

[Alexandoy]

I am interested in this topic because I want to know if I can withdraw cash from my Bitcoin holdings using the Bitcoin ATM. But based on the posts here the ATM is only for transferring Bitcoin or making transactions like buying and selling. There is no cash from the ATM.