Bitcoin atms - page 3. | Bitcointalksearch.org

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: romero121 on August 05, 2021, 01:44:18 AM

KYC is a mandatory

Just a small clarification may be needed.
Afaik in many places/countries full KYC is mandatory only above certain amounts. So the only mandatory part may the phone number, which can be a prepaid number; in various countries you don't need ID for it.

Quote from: ranochigo on August 05, 2021, 02:10:40 AM

so a simple hidden camera can capture your identity

Most do have cameras not hidden at all, but their primary use is to capture your identity if you hit the ATM with a sledgehammer Wink

Plus, the ATMs are in closed spaces and nowadays one needs a mask to enter closed spaces (in most countries), making the camera useless.

Jawhead999

legendary

Activity: 1890

Merit: 1210

I think Bitcoin ATMs work similar just like traditional ATMs, but in Bitcoin atms what you need is phone number, pin code and your Bitcoin address.

There's some scam about Bitcoin ATMs [1] but the scam isn't technical thing, it's only targeting not educated person (e.g. send Bitcoin to other address, using other person QR code as receipt address)

[1] https://www.coolwallet.io/bitcoin-atm-btc-scam-security-guide/

Charles-Tim

legendary

Activity: 1512

Merit: 4795

Leading Crypto Sports Betting & Casino Platform

Quote from: SanahGrat on August 05, 2021, 01:10:31 AM

Could skimmers be a thing? Could bad actors put in nefarious code to retrieve your information when you use them?

Bitcoin ATM has been existing for some years now, no complain yet that it resulted to stolen of Bitcoin or any other coin the ATM is supporting. The way the ATMs are operating, it will be difficult for attackers to make use of it to steal. Only what I know is possible is for attackers to physically attack someone like after Bitcoin has been exchanged to Fiat, thieves can look for way to steal the Fiat from you physically, that is why we need to be very careful while using bitcoin ATM, but about online attacker, this will be nearly impossible. There are even many cases of someone that even went to withdraw Fiat from bank ATM in which he/she was later physically attacked by theives.

MusaMohamed

sr. member

Activity: 966

Merit: 306

There are Bitcoin ATMs that have Lightning network integration. You will save lot of cost for transactions if you use Lightning network.

I never use Bitcoin ATM even there are a few locations near my place. I usually buy Bitcoin on peer to peer markekplaces and send them to my wallet or to exchanges.

You can use private key and import it into Electrum wallet. Use BIP39 when you import private key from Bitcoin ATM. Print you receive from ATM can be blurred, damaged, disappear after few months and you will lose access to your Bitcoin if you lose your private key.

ranochigo

legendary

Activity: 3038

Merit: 4418

Crypto Swap Exchange

No. You aren't supposed to provide them with any of your private information (possibly other than KYC) so a simple hidden camera can capture your identity. Most Bitcoin ATMs do not require any cards but only require your Bitcoin address so there is nothing to steal from except your money. It is okay for small purchases, which isn't so viable nowadays. Otherwise, it is a good first point of exposure for most people but terrible if you want to seriously use Bitcoin.

romero121

legendary

Activity: 3234

Merit: 1214

Casinopunkz - Anonymous Crypto Casino

Pros/Advantages

Easy access - Provide KYC (contact number, address) withdraw the fund/buy what is needed.
Fast Processing - Can receive the bitcoin in short time.
Found commonly on high tech cities.
Good Business - Privately we can setup bitcoin ATM.
Easy of implementing and low capital.

Cons/Disadvantages

High transaction/withdrawal fee.
Found in limited locations.
KYC is a mandatory.
Regulatory issues.

MusaMohamed

sr. member

Activity: 966

Merit: 306

Good for cryptocurrency market because ATM is more popular to people. They can buy or sell small Bitcoin amount with fiat. In my perspective, Bitcoin ATM is very first way to join Bitcoin market for people who are not use Internet everyday.

If you use ATM, find the one that is not located in remote area that can put you into risky situation when you visit there in order to complete your Bitcoin trades.

https://coinatmradar.com/

SanahGrat

newbie

Activity: 1

Merit: 0

What are your opinions on them? Good for crypto? Unneeded? Beneficial? Unsafe? I see many pros of them but I worry about the safety of these machines, although I have to admit I don't fully understand how they operate. Could skimmers be a thing? Could bad actors put in nefarious code to retrieve your information when you use them?https://omegle.onl/ vshare

Topic: Bitcoin atms - page 3. (Read 377 times)