Bitcoin ATMs might not be the big deal everyone hopes for but it shows some real adoption happening. South Africa has surged ahead of other African nations, boasting around 15-20+ ATMs across various spots for easier access.
Nah, it’s more like a machine where you can use your ATM card or cash. This particular one doesn’t even have a cash deposit option. You pick how much bitcoin you want, scan your wallet address, and done. No private keys involved.
These ATMs usually charge crazy high prices for bitcoin, over the spot price. They were great back in the day, but now with more no KYC options disappearing, I can't see why anyone would want to use them anymore.
True. Those premiums and fees make these ATMs way less appealing compared to top exchanges. But they do serve a purpose, especially for those wanting quick access without banks. Still useful for travelers or cash hunters despite the fees.
Coinatmradar lists 33 Bitcoin ATMs in South Africa, the most in Africa. I think places like Nigeria don’t have many because you don’t really need ATMs for bitcoin. The fees are just too high like 10% or more sometimes.
Bitcoin and crypto ATMs are generally a last resort for buying or selling. The fees can hit 20%, which is wild. Plus, the KYC requirements make them a no-go for folks wanting privacy.
Not sure why people are excited about bitcoin ATMs. The fees are insane. Back then, the anonymity was a trade-off, but with decentralized exchanges around now, the value isn’t there anymore.
That’s cool! So you can buy bitcoin without a card just by entering your private key? If this spreads across Africa, it's gonna boost adoption and awareness. Sure, the locations might be limited, but it’s a start.
Awesome news for African Bitcoiners! It's a sign of growing adoption in Africa. Nigeria only has two ATMs in Lagos, and I haven’t seen much activity there. I was hoping to try one out next visit just for the experience.
Honestly, that first statement isn’t fully accurate. Bitcoin ATMs could actually spark adoption everywhere. How could you think they don’t impact things? It’s great to see these machines popping up, helps those unfamiliar get curious about bitcoin.
I think Bitcoin ATMs can indeed boost acceptance by making bitcoin more accessible. But the high fees turn off many users, which is why I wish they were cheaper for regular folks.
Never input your private keys into an ATM! Without a card, you can buy with cash by scanning your wallet’s QR code. Honestly, not sure if you really wanna pay those high fees just to use the service.
South Africa really is leading in crypto adoption in Africa. But most users are actually connecting through bank links instead of ATMs. The country recognizes crypto as money now, which makes a big difference.
Exciting news, but no Bitcoin ATMs in my country yet! We’re slowly developing a legal framework for crypto, but nothing about ATMs yet. Those fees are just too much, even 5% seems high.
I see more potential in direct peer-to-peer trades rather than ATMs. Sure, there are trust issues and crime, but I think P2P will gain traction, especially with regulations tightening.
Many people overlook that these ATMs still ask for some KYC info. Just because they don’t ask for ID doesn’t mean they are KYC-free. People should be aware of that.
Sounds interesting, but what are the transaction numbers? Do they even see more usage to justify opening new ATMs? I think many are shifting to regulated exchanges, not sure how long ATMs will stick around.