Topic: Bitcoin ATMs – how it works and KYC compliance (Read 252 times)
I think maybe compliance in every company usually has every bank that has nodes with full blockchain copies of hashes every bitcoin coinource network coinource works with multi-factor acuant authentication Bitcoin ATM is a service that allows users to buy and sell Bitcoin using cash.
This information is worth it. Most interesting will be to have bitcoin ATMs in most of the countries even in the crypto resisting nations like India etc.
Yeah thats the thing. It will take time for the third world countries like India to recognize bitcoin as a legitimate currency.
This information is worth it. Most interesting will be to have bitcoin ATMs in most of the countries even in the crypto resisting nations like India etc.
I wonder if the camera is on ATM BTC how on ATM for cash?
Do they use personal data, the same photos for example.
Do they use personal data, the same photos for example.
I've seen some of them in NYC but never actually had a chance to use them. I heard it's quite expensive to withdraw money from them.
The bitcoin ATM's I've seen in person have had ridiculous fees. ATMs are great for mainstream adoption and getting beginners started in crypto but no serious investor would use one of these. I've been quite surprised to see bitcoin ATMs in very small towns I have visited.
I've seen some of them in NYC but never actually had a chance to use them. I heard it's quite expensive to withdraw money from them.
I think it is very convenient, at least as an experiment, because for many Bitcoin is something that is on the Internet, and in their opinion, it is not related to real life
ATM booths of BTC can be very helpful for conversion of BTC to local currency or vice versa but apart from that there's no exciting new feature that would make people go 'wow'. But the best part is you don't have to pay extra charge for transferring your funds.
The best part of your comment is actually the answer to it.
BTC ATM can help people convert BTC to other currency and deposit their money rather that withdrawing it, which is very different than how actual ATMs operate but still a great initiative which will help BTC users.
I never use this but I think we can buy bitcoin and we can do various types of payment with this ATM also though it’s not related to bank so I don't think we can money like fiat transactions but it is very helpful for people.
Bitcoins ATM in Europe and other parts of the world allows you to buy and sell bitcoins with your wallet without actually dealing with a physical product like normal banks ATM given out cash. KYC is not effective on Bitcoins ATMs.
ATM booths of BTC can be very helpful for conversion of BTC to local currency or vice versa but apart from that there's no exciting new feature that would make people go 'wow'. But the best part is you don't have to pay extra charge for transferring your funds.
As long as it is secured by KYC, I think it will increase people's trust but couldn't agree with the name ATM, ATMs are for withdrawing money, at least that's what we picture when we hear the word. The BTC ATM concept is more like a bank where you deposit.
I think in future, it will be a really good thing. E.g. it can be used in another financial breakdown
A Bitcoin ATM is a one-stop solution for KYC compliancy. You do not have to go to a Bank and get permission to use their service, before they open an account for you. You also do not have to adhere to minimum requirements before you can open an account.
You walk to a Bitcoin ATM and you provide them with your photo and and ID documents and you GO for business after the verification process is completed. In my experience this was really fast, but it might be different for other ATM brands. 
You walk to a Bitcoin ATM and you provide them with your photo and
Bitcoin ATM is not similar with regular ATM. Bitcoin ATM transactions are occurs digitally with deal bitcoin transactions. Right now there are 300 Bitcoin ATM booth are available in the world.
Bitcoin ATM is not like tradition banking ATM. Bitcoin is a digital currency and so you cannot withdraw it like fiat currency but this ATM will help in trading bitcoin. You can also use this ATM for payment by bitcoin.
Bitcoin is a whole another system for a reason, it's a cryptocurrency so it's only normal if it doesn't work like normal bank's ATM. In the world of cryptocurrency, there's trading and exhanging instead of depositing and withdrawing.
The term BTC ATMs I was hearing froom a long time and yet it is very unclear to me. As we have many trading sites to exchange BTC with USD and other moneys, why do we wanna go for ATMs. As it is intangible element, You cannot actually withdraw BTC. But ATM word really seems very interesting. Looking forward to know more.
Bitcoin ATMs are quite convenient to use in our lives. It will facilitate the withdrawal of funds from your wallet, but many nuances are unclear. Will there be a withdrawal fee? Will the ATM give out money immediately? Will I have to send money to the phone? Will the funds be withdrawn from a bank account (not yours, but personally the bank) to give you money, and then they send a request for transfer of funds from your wallet? Will the banks or investors of this ATM keep track of your translations in the future? Just bills that are in the ATM, instant exchange and so on.
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