Bitcoin atm - page 2. | Bitcointalksearch.org

LiteCoinGuy

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In Satoshi I Trust

Quote from: Ingatqhvq on July 26, 2015, 04:57:25 AM

Quote from: Bitplumber on July 26, 2015, 04:41:35 AM

Would you store your bitcoin on a paper wallet printed direct from the ATM you purchased it from?

it depends on how much bitcoin do you store, if just a little, yes , you can do this way, but if it a large number, you should choose a better way.

exactly.

big amount? use deep cold storage or a hardware wallet:

https://bitcointalksearch.org/topic/overview-bitcoin-hardware-wallets-secure-your-coins-899253

coinpr0n

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Quote from: Bitplumber on July 26, 2015, 04:41:35 AM

Would you store your bitcoin on a paper wallet printed direct from the ATM you purchased it from?

I would not. That goes directly against cold storage best practices, as that ATM is (I'm supposing) connected to the internet. Not to mention you don't know how the code written and what it's actually doing with private key. It might be holding the key in memory or whatever.

NorrisK

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Quote from: ?? on ??

Bitcoin ATMs may prove most useful in enabling cross-border e-commerce for underbanked parts of the world, allowing, for example: Online purchases by those without bank accounts or credit cards, or the inability to use these internationally Travelers' withdrawal of cash in local currency at competitive rates, again, without needing a bank account or ATM card. A traveler could also convert excess local currency back into Bitcoin at the end of a trip, something many conventional ATMs do not allow
today.

What has this got to do with storing the bitcoins printed by the atm?

I personally would not use them to store any significant amount of coins. Someone else handled the private key (even if generated randomly) and potentially has acces to them through ATM logs..

Ingatqhvq

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Quote from: Bitplumber on July 26, 2015, 04:41:35 AM

Would you store your bitcoin on a paper wallet printed direct from the ATM you purchased it from?

it depends on how much bitcoin do you store, if just a little, yes , you can do this way, but if it a large number, you should choose a better way.

Bitplumber

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Would you store your bitcoin on a paper wallet printed direct from the ATM you purchased it from?

Topic: Bitcoin atm - page 2. (Read 1516 times)