My first time using a Bitcoin ATM | Bitcointalksearch.org

so98nn

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Good to see someone sharing the experience of Bitcoin ATM. Unfortunately our country does not even have the legal tender for setting up the bitcoin ATM's. One brave man tried to install the Bitcoin ATM in Bangalore city of India, and boom the news was all over the newspaper next day and more over it was boom on the social network too.

And the surprise is yet to come. The following day Indian Police raided that mall and ceased the Bitcoin ATM. There was not even single man who was able to use the classic machine. Lolz.

Well, lucky those who has the machines installed in their countries and all of you must use it regularly as it reduces the efforts to go online make the transactions.

Also, reading your post makes it clear that its very very easy job, just like using the traditional ATM's.

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Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

Yes, the Bitcoin ATMs are a great thing.
Unfortunately, this has not yet been widely established and is quite expensive with the fees.

And in most countries, unfortunately, the government is much interested in the fact that everything is done with ID and verification to prevent alleged possible money laundering ...
Therefore you can also say bye to anonymity in using Bitcoin-ATM's!

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Quote from: yohananaomi on November 20, 2021, 02:39:11 AM

I think the need to be able to get a bitcoin ATM is definitely a good thing, but maybe a country that already recognizes bitcoin or crypto as a legal medium of exchange can certainly provide this need.
because one day an ATM is needed to facilitate transactions that we can do when we travel.

the impact of the existence of an ATM will clearly make trust in bitcoin higher and many understand what bitcoin means. it will make bitcoin more sought after and made a pretty good investment.

Be happy that you can enjoy a bitcoin ATM because the convenience is right in front of your eyes and you just have to use it, for countries that do not yet have an ATM, there is no need to be discouraged because the benefits are adjusted to the conditions of each country.

OP didn't mentioned where country he's residing but on the thought of the thread I am already assuming that it is in El Salvador because so far this is the only country I've known that was already legalize bitcoin and adopting the use case of this digital finance. Honestly, I would like to experience too how to withdraw an asset to fiat with the use of Bitcoin ATM but sadly here in my country cryptocurrency is not legal and I'm afraid that the government may already take action to ban any transaction regarding crypto, so far up to date there's no legal action that they have taken and I take advantage to maximize the use of my crypto.

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Quote from: Ibrahim60 on November 19, 2021, 12:33:42 PM

Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

Wow!!! This is such a great news and great experience i think. I have a question that in which country you use Bitcoin ATM?
Hope that one day my country also accept Bitcoin and I'm also using Bitcoin ATM for buying and selling Bitcoin.

I think the need to be able to get a bitcoin ATM is definitely a good thing, but maybe a country that already recognizes bitcoin or crypto as a legal medium of exchange can certainly provide this need.
because one day an ATM is needed to facilitate transactions that we can do when we travel.

the impact of the existence of an ATM will clearly make trust in bitcoin higher and many understand what bitcoin means. it will make bitcoin more sought after and made a pretty good investment.

Be happy that you can enjoy a bitcoin ATM because the convenience is right in front of your eyes and you just have to use it, for countries that do not yet have an ATM, there is no need to be discouraged because the benefits are adjusted to the conditions of each country.

Ibrahim60

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Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

Wow!!! This is such a great news and great experience i think. I have a question that in which country you use Bitcoin ATM?
Hope that one day my country also accept Bitcoin and I'm also using Bitcoin ATM for buying and selling Bitcoin.

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Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

It seems very easy to make transactions via Bitcoin ATMs, I also want to use Bitcoin ATMs but in my country there is no Bitcoin ATM. I'm sure this is just the beginning and someday Bitcoin ATMs will definitely expand all over the world, I can't wait to use them. The latest and greatest news about Bitcoin is always popping up, this proves that there will be massive adoption coming and it seems that there is no need to wait to buy Bitcoin.

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I would love to use one myself in the future and I hope it will be in my country. It will be nice to see Bitcoin ATM around like normal bank ATM which Bitcoin users will have access to.

MIner1448

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This is an unusually cool buying process, but did you see the anonymity here? After all, you registered your phone number at the ATM, and I am also sure that there is also a video surveillance camera, in general, there is still a big question about anonymity ...

topbitcoin

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At past there are some bitcoin atm in my country but i never use it yet. But i think and see people talk about phone number, i think it is dangerous to give our phone number to others include website, because it is personal information. Maybe can solve with buying phone number again and split which that only be used to transaction and which one is our main phone number, like an email.

habebe

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for having an ATM card it well be nice to hear that because there is a new way in which to lead a bitcoin crypto as the biggest crypto currency in the country, As we all know Bitcoin is decentralized currency and moreover regarding about wallet one run it on well way some of them are using digital wallet of bitcoin that is very nice also but there is also that we need to rush to use bitcoin or money as well soo no need to use wallet anytime you want to, and anytime you where you can he withdraws too ATM exchange to currency

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Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

I bought my first bitcoins from btc atm too. But quickly noticed that they had huge fees compared to any cex out there. They didn't say they would have fees but the spread of buys and sells was so huge it was obvious they were funded that way. I sold a ton too when it was still possible without kyc.

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Quote from: Ararbermas on November 13, 2021, 11:50:19 AM

Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

well that's what crypto is, wherein very fast when it comes transaction and you only need one confirmation then boom, it's like sending messages..Lol
nevertheless if my country provides such ATMs for sure withdrawing money isn't a problem anymore. I mean you don't to fall in line in order to have some cash.. Just scan the QR code then easy money.. Grin

but i don't know if its possible to have in the near future since most people here in my place don't believe in such things and what they know about bitcoin is totally scam.. Lol well i don't care infact i still have options to covert my crypto to fiat. Grin

If that is what many think about Bitcoin, the chance is very slim to have a working ATM in your place.

Unlike with developing countries where many ATMs are already scattered around, the same way on how regular fiat ATM works, crypto users don't need to convert their bitcoin to fiat, but by simply using the machine and they will have it.

If I'm not mistaken, from where am I, there are already Machines, but only in a selected place not many but good enough to know
that it's already existing and there are crypto followers who are enjoying it.

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Quote from: GreatArkansas on October 18, 2021, 08:01:11 PM

Quote from: excro on October 18, 2021, 07:35:08 PM

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

Wow, it looks very easy and comfortable.

Agreed! It sound super simple (again, never tired it myself and I don't know if I'll ever will) Cheesy

Quote

But I am curious why they still need a phone number verification? What is the use of it?
As we all know Bitcoin is decentralized, anyone can send Bitcoin to our address without any requirements?

Yh, this peaked my curiosity too? In theory all you need is a Bitcoin wallet address which I presume you can scan the QR code for (if this even exists) or scan it in somehow, but why use a phone number?

I also wonder what are the exchange rates used Huh

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Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

this is a very good experience and quite worth it especially with the speed as you describe in your thread this i think is very good to try.
but on the other hand I still can't try it because bitcoin atm is still not available in my country.
on the other hand I hope things like this will be evenly distributed to countries that have indeed adopted bitcoin to make transactions easier.

Alisha FR

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Very nice experience, I really want to try something like yours. There are still very few countries that use ATMs that can make Bitcoin transactions. This process is known to many people and other countries can use Bitcoin transactions through ATMs. As you said the process is very fast, this is a positive value that other countries should follow.

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Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

well that's what crypto is, wherein very fast when it comes transaction and you only need one confirmation then boom, it's like sending messages..Lol
nevertheless if my country provides such ATMs for sure withdrawing money isn't a problem anymore. I mean you don't to fall in line in order to have some cash.. Just scan the QR code then easy money.. Grin

but i don't know if its possible to have in the near future since most people here in my place don't believe in such things and what they know about bitcoin is totally scam.. Lol well i don't care infact i still have options to covert my crypto to fiat. Grin

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Quote from: godzillarekt007 on November 12, 2021, 05:49:26 PM

Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

Nice I always thought it would be a painful experience. What about the fees? Heard they were super high at 8%+

He already said before on his one post about fees. He got $95 instead of $100. That means the fees is 5%. But i am confused ATM will cut 5% of total amount withdrawing Or no matter how much I withdraw, the fee will be $ 5

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Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

Nice I always thought it would be a painful experience. What about the fees? Heard they were super high at 8%+

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Quote from: goldkingcoiner on November 12, 2021, 01:59:31 PM

I would love to see an ATM here in my country. We have introduced Bitcoin ATM's once and then they were made illegal and taken down again. I heard rumors of Bitcoin ATMs with strict KYC for any amount of Bitcoin purchased/sold, however I have yet to see such an ATM with my own eyes. So far, nothing yet.

But Im certain that Bitcoin is and should stay anonymous. That goes double for selling/buying Bitcoin. Thats the very idea upon which Bitcoin was built- to stay out of government control, and in the hands of the people. So such Bitcoin KYC ATMs don't serve much purpose, in my eyes.

No one is anonymous if bitcoin transaction are made at ATMs that require government regulation. Some of us agree with regulation where the government has reasons to control abuse, this is certainly no different from the centralized exchange that is currently widely used by bitcoin traders and investors. We really can't hide if we agree with centralization and if we care about transaction to remain anonymous then don't use centralized exchange or government-approved ATMs.

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I would love to see an ATM here in my country. We have introduced Bitcoin ATM's once and then they were made illegal and taken down again. I heard rumors of Bitcoin ATMs with strict KYC for any amount of Bitcoin purchased/sold, however I have yet to see such an ATM with my own eyes. So far, nothing yet.

But Im certain that Bitcoin is and should stay anonymous. That goes double for selling/buying Bitcoin. Thats the very idea upon which Bitcoin was built- to stay out of government control, and in the hands of the people. So such Bitcoin KYC ATMs don't serve much purpose, in my eyes.

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a step forward towards understanding the risky bitcoin transactions.
from there we are sure that more and more people will use it, because besides being simple to use and also easy for us to transact when we use a bitcoin ATM..
.but in my country it may not exist because the government still considers bitcoin illegal and has not been recognized by the government as a legal transaction tool...

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Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

I have been trying to look in to using a bitcoin ATM the past couple weeks and have found it to be a pretty big pain in the ass. Sure if you are just dealing with a small amount of money than it's probably pretty easy and straight forward, but if larger amounts are in play then its not so easy. The ATM I had been trying to use only allows for $1,000 total before a full KYC form has to be filled out. There are limits on how much you can take out at one time etc. Maybe some ATMs are better than others in this regard though?

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Quote from: excro on October 18, 2021, 07:35:08 PM

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

The ATM machine ask you for your phone number for verification. This means that a clear data of your transaction has been saved on the ATM's server along with your phone number. And this will allow the ATM server controller to easily find out your identity.

Quote from: excro on October 18, 2021, 07:35:08 PM

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Btw Why do you think this transcation is an anonymous way? Where you passed your phone number and your phone number is registered with your Government id card or Pasport?

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Quote from: coupable on October 25, 2021, 04:39:56 PM

Quote from: uneng on October 24, 2021, 06:37:48 AM

Quote from: excro on October 21, 2021, 01:11:25 PM

Quote from: coupable on October 21, 2021, 01:04:12 PM

Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Congratulations Bro Wink

I wished to know which ATM you used and in which area/country. Also about the fees, did you received the equivalence of 100$ in exact amount or some fee was deducted? And what about the network fee? Who paid it?
I think i will see btc ATM in my country when a creature from planet Mars kiss a human girl on the moon ground, this is why i ask such dumb questions. Thank you

The brand of the ATM was localcoin and my area is North America. for the fees, I recieved 95$ and obtained a discount code for my next purchase. It truly is very convenient!

5% fee is too expensive. In my opinion it doesn't worth to use ATMs because besides the transactions costs involved in a normal bitcoin transaction you also have to pay an extra to maintain the machine's costs and generate some profit for its owner. Possibly that is why the fee is so expensive. It's an interesting idea to be an ATM owner though...

Compared to other ATM providers, 10% is the average fee for 100$. The fee covers the transaction network fee and the provider charge.
There is a rate difference between fees to buy and fees to sell.
Personally, i give interest to the ATM technology as a safe way to anonymously buy/sell bitcoin, not just as good investment.

That's the price of availing this service. If you are fine with their fees because of the convenience that it brings, then good for you. Because if the service is readily available in your area, usually persons tend to use it, even if we say the fees are quite expensive. Don't know if the fees in btc ATMs is dynamic with the network congestion. Is it fix or the transaction fee changes? Never had any experience with bitcoin ATM because it is far from where I am residing at. But one day, I want to find out how btc ATM works in my country and how much they are charging.

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Quote from: coupable on October 25, 2021, 04:39:56 PM

Quote from: uneng on October 24, 2021, 06:37:48 AM

Quote from: excro on October 21, 2021, 01:11:25 PM

Quote from: coupable on October 21, 2021, 01:04:12 PM

Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Congratulations Bro Wink

I wished to know which ATM you used and in which area/country. Also about the fees, did you received the equivalence of 100$ in exact amount or some fee was deducted? And what about the network fee? Who paid it?
I think i will see btc ATM in my country when a creature from planet Mars kiss a human girl on the moon ground, this is why i ask such dumb questions. Thank you

The brand of the ATM was localcoin and my area is North America. for the fees, I recieved 95$ and obtained a discount code for my next purchase. It truly is very convenient!

5% fee is too expensive. In my opinion it doesn't worth to use ATMs because besides the transactions costs involved in a normal bitcoin transaction you also have to pay an extra to maintain the machine's costs and generate some profit for its owner. Possibly that is why the fee is so expensive. It's an interesting idea to be an ATM owner though...

Compared to other ATM providers, 10% is the average fee for 100$. The fee covers the transaction network fee and the provider charge.
There is a rate difference between fees to buy and fees to sell.
Personally, i give interest to the ATM technology as a safe way to anonymously buy/sell bitcoin, not just as good investment.

But there are really people who are really very reluctant on making such step just because of those fees which are totally bigger compared if you do buy bitcoin online via using up your casual cards.

For the sake of actual experience and adopting such changes and at the same time you do make out some purchases then you wouldn't really be minding on using these ATM's for that sole purpose.

Sadly on my part on where those ATM's are located on central or capital which is really way too far off.How I wish I could really have the experience on buying one.

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Quote from: uneng on October 24, 2021, 06:37:48 AM

Quote from: excro on October 21, 2021, 01:11:25 PM

Quote from: coupable on October 21, 2021, 01:04:12 PM

Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Congratulations Bro Wink

I wished to know which ATM you used and in which area/country. Also about the fees, did you received the equivalence of 100$ in exact amount or some fee was deducted? And what about the network fee? Who paid it?
I think i will see btc ATM in my country when a creature from planet Mars kiss a human girl on the moon ground, this is why i ask such dumb questions. Thank you

The brand of the ATM was localcoin and my area is North America. for the fees, I recieved 95$ and obtained a discount code for my next purchase. It truly is very convenient!

5% fee is too expensive. In my opinion it doesn't worth to use ATMs because besides the transactions costs involved in a normal bitcoin transaction you also have to pay an extra to maintain the machine's costs and generate some profit for its owner. Possibly that is why the fee is so expensive. It's an interesting idea to be an ATM owner though...

Compared to other ATM providers, 10% is the average fee for 100$. The fee covers the transaction network fee and the provider charge. Please check CoinAtmRadar for more statistics.
There is a rate difference between fees to buy and fees to sell. Although they should be as dynamic as the network congestion.
Personally, i give interest to the ATM technology as a safe way to anonymously buy/sell bitcoin, not just as a good investment. However, it's still not effecient way to sell/buy big amounts at the same level of security/safety.

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I wouldn’t say that it is the most anonymous way, because making use of peer to peer exchanges is also anonymous. But from the way that you have explained it here it seems that is really going to be an easy method to use for buying bitcoins. There is an ATM in my country but have not even bothered myself about making use of it because I’m really OK with making it a peer to peer exchanges such as paxful.com which I’ve been using for a long time now.

And good thing with buying it online is that I can stay anywhere even in my home and do whatever transaction I want to do. I’m not the type that is used to going to ATMs or banks, I just prefer to stay at the comfort of my home and do whatever I want to do. Another thing I think you forgot to mention is the fees that you paid for the transaction that you did on the ATM. I would love to know how much fees you paid for the transaction.

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Quote from: excro on October 21, 2021, 01:11:25 PM

Quote from: coupable on October 21, 2021, 01:04:12 PM

Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Congratulations Bro Wink

I wished to know which ATM you used and in which area/country. Also about the fees, did you received the equivalence of 100$ in exact amount or some fee was deducted? And what about the network fee? Who paid it?
I think i will see btc ATM in my country when a creature from planet Mars kiss a human girl on the moon ground, this is why i ask such dumb questions. Thank you

The brand of the ATM was localcoin and my area is North America. for the fees, I recieved 95$ and obtained a discount code for my next purchase. It truly is very convenient!

5% fee is too expensive. In my opinion it doesn't worth to use ATMs because besides the transactions costs involved in a normal bitcoin transaction you also have to pay an extra to maintain the machine's costs and generate some profit for its owner. Possibly that is why the fee is so expensive. It's an interesting idea to be an ATM owner though...

AakZaki

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Only in certain countries that already have an ATM machine. Countries that do not legalize bitcoin are certainly not available because bitcoin or cryptocurrency regulations are only limited to commodity trading.
Bitcoin ATMs are only a form of the country's seriousness to adopt bitcoin and can be used by many ordinary people.

Of course it will be a valuable experience to be able to use a Bitcoin ATM Machine.

Rajamuda

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Sounds so great, this is certainly very interesting and makes it easier to do transactions, where do you live? Has it really been approved by the government, because I just found out that it has been proven that Bitcoin ATM is available. Even though I've never tried it but it's interesting if I can do that too at my place, that's cool. I hope everyone here can feel the functionality of the Bitcoin Atm machine in the future, it's like imagination in my mind.

BIT-BENDER

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Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

About the anonymity of the process you did using Bitcoin ATM I think it is anonymous, but about the safety of using Bitcoin ATM I don't think it's the safest, I am a Bitcoin and crypto-currency enthusiast but I don't think Bitcoin ATM or anything financial should be considered the safest means because if so then the sensitivity of people about the forms of being scammed even in Bitcoin usage would be low. Furthermore I would like to access the usage of Bitcoin ATM but right now it's limited in my country.

kawetsriyanto

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Glad to see that you have good experience in using Bitcoin ATM.
Well, actually, I personally never use it, unfortunately, there is no Bitcoin ATM in my area Grin

But yes, most will say that it has high speed.
But I am wondering about the fees, many people say that the fee is commonly higher when using the Bitcoin ATM.
This can be a choice but what's about spending more fees?
I know that some people may not concern about the fees because they prefer to have more safety and also availability to buy or sell Bitcoin via Bitcoin ATM.

BITCOIN4X

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Quote from: The Cryptovator on October 22, 2021, 12:08:41 PM

Thanks for sharing your experience with us. I have read a few stories that have used Bitcoin ATM, but I was not really aware of using mobile numbers during parsing Bitcoin. As you said you bought Bitcoin safely and anonymously, this is not true at all. Because I agree with safely because it is quite safe and there is no chance of scam or fraud, but really you are not anonymous since you have submitted your mobile number. The government can identify who bought the Bitcoin. However, I don't think this is a problem for you because there is a bitcoin ATM machine means Bitcoin is not illegal in your country. But this is a matter of tax maybe you cannot avoid paying tax if necessary. It is good to see at least you can buy Bitcoin directly from ATM.

Perhaps someone can avoid disclosing their identity via a cell phone number by using a one-time number purchased for insertion into an ATM if they wish to remain anonymous without government identification. But it is natural that it is always possible to support the government by complying with its rule by not doing so. If it's due to taxes then let the government get taxes from the bitcoins they have legalized.

I have never made a transaction at a bitcoin ATM because I didn't have the opportunity when my country still had an ATM machine. But unfortunately now it has been closed by the government. So I don't really understand how to use that ATM machine even though it seems easy.

proTECH77

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Congratulation for such favourable experience you had in bitcoin ATM machine in the community. With the procedure you have displayed show bitcoin ATM machine is relabel compare to fiat ATM machine that will swallow your ATM card not to have access to your fiat money at the moment. Many bitcoin users who are into long term and short term investment, to start using bitcoin ATM to invest with full confidence to achieve something suitable from the investment.

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Quote from: The Cryptovator on October 22, 2021, 12:08:41 PM

Thanks for sharing your experience with us. I have read a few stories that have used Bitcoin ATM, but I was not really aware of using mobile numbers during parsing Bitcoin. As you said you bought Bitcoin safely and anonymously, this is not true at all. Because I agree with safely because it is quite safe and there is no chance of scam or fraud, but really you are not anonymous since you have submitted your mobile number. The government can identify who bought the Bitcoin. However, I don't think this is a problem for you because there is a bitcoin ATM machine means Bitcoin is not illegal in your country. But this is a matter of tax maybe you cannot avoid paying tax if necessary. It is good to see at least you can buy Bitcoin directly from ATM.

Although there is no bitcoin atm machine yet in our country but i really appreciate sharing your experience with us. I would be glad making transactions in a bitcoin atm machine soon as i'm now aware how to do it successfully.

However, it really confused me why is the machine asking for your mobile number? Isn't your btc wallet address enough for your verification? I really think there is something wrong with this as we are not becoming anonymous already. And if its connected with the government, i'm sure we can be traced easily by them which is not really a good thing.

The Cryptovator

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Thanks for sharing your experience with us. I have read a few stories that have used Bitcoin ATM, but I was not really aware of using mobile numbers during parsing Bitcoin. As you said you bought Bitcoin safely and anonymously, this is not true at all. Because I agree with safely because it is quite safe and there is no chance of scam or fraud, but really you are not anonymous since you have submitted your mobile number. The government can identify who bought the Bitcoin. However, I don't think this is a problem for you because there is a bitcoin ATM machine means Bitcoin is not illegal in your country. But this is a matter of tax maybe you cannot avoid paying tax if necessary. It is good to see at least you can buy Bitcoin directly from ATM.

coupable

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Quote from: excro on October 21, 2021, 01:11:25 PM

Quote from: coupable on October 21, 2021, 01:04:12 PM

Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Congratulations Bro Wink

I wished to know which ATM you used and in which area/country. Also about the fees, did you received the equivalence of 100$ in exact amount or some fee was deducted? And what about the network fee? Who paid it?
I think i will see btc ATM in my country when a creature from planet Mars kiss a human girl on the moon ground, this is why i ask such dumb questions. Thank you

The brand of the ATM was localcoin and my area is North America. for the fees, I recieved 95$ and obtained a discount code for my next purchase. It truly is very convenient!

I want to comment about the fees which seems to me as a very low charge. The 5$ deducted from your initial 100$ should cover the operator costs and miner fees, and by checking fees or other ATMs i found that the average is 10$ for a simple transaction of 100$.
I know that every operator should be able to determine the fee for each transaction, but i also know that the fee should be static percentage as well. So i wonder how the fee can be determined automatically knowing how many factors responsible to set it (Network, transaction size, inflated prices...etc) .

pawanjain

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Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

Good to see that your first experience with a bitcoin ATM was smooth. You forgot to mention a few things though.

How much fees did you incur when the transaction occurred ? Generally bitcoin transactions in an ATM has larger fees than from non-custodial wallets.
Did the ATM had any CCTV cameras ? If yes then you were not really anonymous since you provided your phone number and the camera footage with the timing can identify your identity.
What was the exchange rate ? Sometimes the exchange rate has some surcharge which makes it expensive for us to make a transaction in a bitcoin ATM.

It would benefit more people if you could provide these details.

syedakhlaque

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It is very happy news to cash Bitcoin through ATM. It is a good development in the world of cryptocurrency. It is the start of the process that will be adopted by other countries of the world after the passing of time. It will take time but be patient that this process has started and it will spread soon.
The verification of phone numbers is not a bad thing. I think It is part of security & betterment.

SFR10

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Quote from: excro on October 18, 2021, 07:35:08 PM

I was asked a phone number for a verification code

Quote from: excro on October 21, 2021, 01:11:25 PM

The brand of the ATM was localcoin

Out of curiosity, why didn't you just stick to the "instacoin" BTM machine instead?
^{- At least that one would've not asked to verify your phone number for a hundred dollars!}

Quote from: excro on October 18, 2021, 08:14:12 PM

I don't think your wallet gets linked to your phone number after such a trade.

You're right, but your address does!

Quote from: Nathrixxx on October 20, 2021, 07:31:51 AM

i initially thought its only meant to perform transactions without the ability to accept cash or dispense cash,

Almost all of them come with at least one of those features.

excro

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Quote from: coupable on October 21, 2021, 01:04:12 PM

Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Congratulations Bro Wink

I wished to know which ATM you used and in which area/country. Also about the fees, did you received the equivalence of 100$ in exact amount or some fee was deducted? And what about the network fee? Who paid it?
I think i will see btc ATM in my country when a creature from planet Mars kiss a human girl on the moon ground, this is why i ask such dumb questions. Thank you

The brand of the ATM was localcoin and my area is North America. for the fees, I recieved 95$ and obtained a discount code for my next purchase. It truly is very convenient!

coupable

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Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Congratulations Bro Wink

I wished to know which ATM you used and in which area/country. Also about the fees, did you received the equivalence of 100$ in exact amount or some fee was deducted? And what about the network fee? Who paid it? I know that fees are set as a result of many factors like the transaction seize & the btc price. I see many operator providers in google search, how you can get sure that you are using the safe one?
I think i will see btc ATM in my country when a creature from planet Mars kiss a human girl on the moon ground, this is why i ask such dumb questions. Thank you

Cling18

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I wish we could also have at least a single Bitcoin machine in our country. I could imagine how convenient and fast the transactions will be. You're too lucky because you're able to experience using a physical Bitcoin machine. I believe that more people will see the real worth of Bitcoin because of developments like that.

ancafe

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wow, it's great to have a bitcoin ATM machine in your city. is there no fee for it when you buy bitcoin with $100 ? if there is no deduction, it will be the best way to buy bitcoin. besides that, can we also exchange bitcoins without fees? Yeah, I'm really curious about that. I hope I can also try it soon.

Alucard1

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I haven't tried yet using bitcoin ATM, but it seems so easy and comfortable to use, it now makes me really excited to use it someday but seems like impossible in my own country, maybe in other countries if ever I visit it in the future, I am just thinking about the number verification, I really do think that there will be no any verification because we are decentralized and we are all free to do it as long as we want, but then phone verification is just an easy thing and it will just add security.

Quote from: BuyingBitcoin on October 21, 2021, 08:58:29 AM

Bitcoin ATM transaction fees are way too high.

For real? if that so then I will stick on the traditional one.

BuyingBitcoin

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Bitcoin ATM transaction fees are way too high.

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I feel jealous of you, you are very lucky to be able to try bitcoin atm transactions directly I really hope in my country there will be bitcoin atm I can't wait to try transactions through bitcoin atm.

kryptqnick

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Nice job, op! I'm glad you had a positive experience. To be honest, I still haven't tried ATMs because I'm a bit afraid to do it. I generally hate ATMs because they're often on the streets and when people pass by or, worse, wait nearby, it makes me feel anxious. With Bitcoin, I'm also extra aware of privacy, and I don't want to end up in a situation when I'm stuck in the middle of performing a transaction and I have to provide some documents or pay huge fees. It's simpler and more comfortable to perform these tasks online at one's own pace and on websites with familiar rules and interfaces. But I plan to give it a shot with an ATM one day.

zaesvlas

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Interesting! In general, it is interesting to read about how the world is slowly coping with a new technology for it. As for me, this is just an exciting process!

Nathrixxx

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Quote from: excro on October 18, 2021, 07:35:08 PM

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

What an interesting experience, though am yet to physically see anyone yet but base on what we read and search online, i initially thought its only meant to perform transactions without the ability to accept cash or dispense cash, these features you made mention the ATM perfom makes it uniqueness more outstanding for multiple usage. Thanks you.

layoutph

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Personally I will not encash my bitcoins during this period unless Bitcoin will hit it's ATH. Because every single sats in Bitcoin is very valueble and will multiply a few many folds once it hits its all time high.

Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

Ngewex Yuk

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Until now I've never used a bitcoin ATM, of course it's a great experience to be able to get cash without having to move it to exchanges, with the increasing number of users I hope there are devs. who are serious about creating a bitcoin ATM and can accept all kinds of fiat.

famososMuertos

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Great detail your experience, but sometimes that is so-called "acceptance" of not knowing what you are doing and then maybe you will regret it, if you do it knowingly, that's it, but if you go to an ATM and then they tell you and privacy, anonymity, ah! I did not know about this.
Then it is not the "experience," the true experience with bitcoin is anonymity and privacy, the means you use to obtain your bitcoin does not matter.

AmoreJaz

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Quote from: sheenshane on October 19, 2021, 05:58:08 PM

Quote from: excro on October 18, 2021, 07:35:08 PM

I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

How much did the exact value of Bitcoin go through to your Bitcoin wallet? I have heard that buying Bitcoin in an ATM machine has a huge fee and I think that was I'm afraid of buying Bitcoin on an ATM machine.

To be honest, I didn't try this buying crypto on an ATM machine because it's rare in my place that establishments have an ATM machine for Bitcoin. So, I didn't try it yet. It seems very for you and that was a smooth transaction in Bitcoin ATM, I'm aware of the process of buying Bitcoin on ATM because I have watched and read people's experienced on buying Bitcoin on ATM.

this is what i'm curious also. compared to existing price in the market, how far it is, let's say in $? because i haven't tried this method, because aside from being far from actual bitcoin ATM, i know that the fees may be bit high as compared to purchasing it via online even from your local exchange. i do agree about the anonymity factor though. so if you do care about your anonymity, this is a good way to get some satoshis, given that you can easily reach btc ATM in your area.

sheenshane

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Quote from: excro on October 18, 2021, 07:35:08 PM

I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

How much did the exact value of Bitcoin go through to your Bitcoin wallet? I have heard that buying Bitcoin in an ATM machine has a huge fee and I think that was I'm afraid of buying Bitcoin on an ATM machine.

To be honest, I didn't try this buying crypto on an ATM machine because it's rare in my place that establishments have an ATM machine for Bitcoin. So, I didn't try it yet. It seems very for you and that was a smooth transaction in Bitcoin ATM, I'm aware of the process of buying Bitcoin on ATM because I have watched and read people's experienced on buying Bitcoin on ATM.

GubiMixa1292

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Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

It would be great to experience this and I have never tried using a BTC ATM in my country, it seems very fast and comfortable and then having to scan the QR code of your Bitcoin address. Sounds great for a BTC ATM experience but I always wonder if BTC transactions only use QR for withdrawal or not? Why do they force you to verify with your phone number. Have you ever asked yourself this question?

slaman29

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Quote from: DdmrDdmr on October 19, 2021, 04:25:49 AM

Quote from: slaman29 on October 19, 2021, 12:52:57 AM

<…> Interesting that the only KYC they asked for was a mobile phone. I thought nowadays it was all about personal ID documents.<…>

Most ATMs will require a mobile number under a certain amount that is being purchased/sold. If the quantity exceeds a certain threshold (and sometimes if there are consecutive TXs that surpass a certain value on aggregate), you will likely be required to provide further KYC documentation (Ids and such).

The mobile number is really a way to identify the user with ulterior steps if need be. It constitutes a minimum set of data which authorities could, if required, use to cross against other databases in order to determine de full ID of a given person. The industry in some countries is considering enhancing requirements, believing that a phone number is too laxed.

It's actually quite strict here where I live, with phone. They must be registered in person with the person's ID, and now cannot even be maintained without a credit (as soon as your credit expires your sim card also expires) so it forces you to keep the same number.

Of course, I understand there are people selling phone numbers online registered under their names and IDs so I'm sure governments are also aware of this loophole.

suryana

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You are very lucky to live in a country that supports bitcoin so you can experience withdrawing money with a bitcoin ATM. If it were in my country one day I would also try it because it was something new for me. But the question is whether btc ATM is safe? is there any other experience that may have had bad feelings using this atm?

Vaskiy

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From the post it looks like an easy thing to buy Bitcoin from an ATM. Through different articles and user experiences I have an understanding that it charges big as transaction cost. I don't know to what extent it is true. However if it is possible, then please post the amount worth of Bitcoin received in your wallet for $100. With this it is possible to calculate the amount in dollars taken as transaction fee/service cost.

Lucius

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Quote from: excro on October 18, 2021, 07:35:08 PM

To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Some have already mentioned it, but everything you specifically liked has its price - and you can find out if you know what the average price of BTC was at the time of your transaction - and how much you actually got BTC for your $100 - I guess you got at least 10% less because crypto ATMs have fairly high fees. For small amounts, this may not be too important, but if you invest regularly in this way - be sure to check the price at which they sell you BTC and maybe try to find an alternative.

Maslate

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You are lucky you had tried transacting using an ATH machine, that's a direct transaction and I hope to try that in the future. In our country there are only few bitcoin ATMs, but with the increasing popularity of crypto adoption, i expect that in the near future the numbers will grow.

I also would like to learn and experience how to use so if I ever I will travel outside the country, I will just bring my bitcoin wallet and I can easily withdraw cash to use for my expenses, for me it's the safest way when travelling bringing money.

yazher

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I'm glad that I read this post before even trying to use a Bitcoin ATM when we will have it here in our city, I think it's the best to avoid those bitcoin ATMs that have some CCTV but I don't have any clue if there were something like that where they won't really need to put any Hidden Camera to protect their machine from thieves. since we already have some cases where they took those ATMs with their cars in the middle of the night.

Wildwest

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Curiosity after you tell your experience in using bitcoin ATM, if the transaction we do as fast as that then this will feel comfortable for us to do because every network that we use speed is the most important thing, and I hope that one day in every country can provide bitcoin ATM so that we are easier to make transactions if we are in public places, and the way of use you describe is very easy so that we do not hesitate in using the ATM machine.

worle1bm

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You can easily use bitcoin Atm as there are plenty of available now and more and more counties are seeing increasing rate of bitcoin ATM's now and as you said it's quite easy to use it like you scan your qr code and then deposit the money and then all the procedures.I have not used it till now as most of the time i make transaction from wallet only but will surely try it once to have real time experience of the same.

cheezcarls

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Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

Good for you. The first time I’ve experienced using a Bitcoin ATM was in a mall in Singapore. So I’ve tried to convert my BTC from Blockchain wallet to SGD and it took me at least 45 minutes for the transaction to confirm.

At first I was kinda confused because you know it’s my first time. Now at least I know how to withdraw my BTC to SGD in that Bitcoin ATM. But not all Bitcoin ATMs are exactly the same as they have different user interfaces.

DdmrDdmr

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Quote from: slaman29 on October 19, 2021, 12:52:57 AM

<…> Interesting that the only KYC they asked for was a mobile phone. I thought nowadays it was all about personal ID documents.<…>

Most ATMs will require a mobile number under a certain amount that is being purchased/sold. If the quantity exceeds a certain threshold (and sometimes if there are consecutive TXs that surpass a certain value on aggregate), you will likely be required to provide further KYC documentation (Ids and such).

The mobile number is really a way to identify the user with ulterior steps if need be. It constitutes a minimum set of data which authorities could, if required, use to cross against other databases in order to determine de full ID of a given person. The industry in some countries is considering enhancing requirements, believing that a phone number is too laxed.

mk4

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Quote from: bakasabo on October 19, 2021, 02:06:46 AM

I can give a 200% that there were CCTV cameras around. Such expensive hardware are never left unprotected. Even coffee vending machines and snack machines now has 360 degree cameras in front panel or on small visor to prevent vandalism. excro totally lost his anonymity, now his face can easily be matches with his identity by phone number.

Yep that's definitely most likely the case. It will hugely depend on what country OP is in though, because there are still countries/cities(especially the poorer ones) that doesn't have CCTV cameras left and right.

bakasabo

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Quote from: mk4 on October 18, 2021, 11:22:58 PM

Are you sure there isn't a CCTV camera nearby though? Because if there was, it's not as anonymous as you think. Also taken note that your phone number was taken, it's only anonymous if you're using a burner phone number.

I can give a 200% that there were CCTV cameras around. Such expensive hardware are never left unprotected. Even coffee vending machines and snack machines now has 360 degree cameras in front panel or on small visor to prevent vandalism. excro totally lost his anonymity, now his face can easily be matches with his identity by phone number.

Btw, excro, you have forgotten to share most important - how much BTC did you get for $100? What was the exchange rate ATM use and the fee amount?

sirminesalot

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Offline transaction usually used lightning network to boost the transaction speed with a very small fee. This is why bitcoin ATM should be able to used around the world and bitcoin transaction also could apply even in small stores.
We hope in the future, the fee and the transaction speed sending bitcoin between address within the internet have the similiar speed to lightning network, with that, bitcoin is really potential to become world main currency in the future

cryptoaddictchie

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Thanks for the experienced shared here. Personally I wanted to try this out but of course there are so limited machine here in our place but there is a part of me want to know the process first by others before trying this out. Glad that you mentioned it. Im sure its gonna be fast like lightning have you tried if the process is withdrawal?

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Quote from: excro on October 18, 2021, 07:35:08 PM

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

congratulations then though as far as i remember you are the fifth account posting about their experiences using bitcoin ATM though some of us
have already used ATM machines but never come to ;post here .

Quote from: enhu on October 18, 2021, 07:54:41 PM

Haven't tried buying on ATM myself but does it mean your wallet is somehow linked to your phone number? Which BTC wallet?

It is for sure that's why you must use a Number that disposable and not a Phone Number that linked to your personal details because you are risking yourself from bad use in future.

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Quote from: excro on October 18, 2021, 07:35:08 PM

I clearly see this as the safest and most anonymous way to buy Bitcoin.

It is definitely not the safest or most anonymous way to buy Bitcoin;
• You go to a public location where the machine is, and anyone can see you and guess your purpose,
• You provided your phone number which can be used to track you after the purchase and get your other details, if you use your actual phone line,
• The ATM probably has cameras attached to it, so your physical identity is already known and recorded.

I can think of so many other ways to transact that is safer and more anonymous.

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Hey man that is so cool

I never got the chance but that's because there isn't any ATM near me or I might have used it already, even with high fees or whatever, just to try it.

Interesting that the only KYC they asked for was a mobile phone. I thought nowadays it was all about personal ID documents.

Regarding the wallet, they were asking you which wallet YOU used. I assume you just got the private key printed out on paper? You should sweep it into your own wallet

dupee419

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Haven't tried a BTC ATM before but I did a research few years ago regarding on how it functions, well, it functions like a normal ATM but with a few additional steps. Regarding to its security, I don't think it's the safest way to deposit nor withdraw your bitcoins because you are actually a target to thieves outside, it depends also on the location and area of the Bitcoin ATM but I can't agree with OP saying that it's the safest way to transact your Bitcoins, I guess it's safer than doing your transactions online but I think there are factors that makes Bitcoin ATM unsafe as well.

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The most problem of Bitcoin ATM is the ridiculous fee they charge, even you're buy for investment purpose I would still recommend you to use decentralized exchange. It's much rather similar about the privacy concern, but offer lower fees.

However Bitcoin ATMs isn't really anonymous, yes you could use burner phone for the phone number verification. But don't forget usually they've a camera in the ATM.

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Are you sure there isn't a CCTV camera nearby though? Because if there was, it's not as anonymous as you think. Also taken note that your phone number was taken, it's only anonymous if you're using a burner phone number.

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I am curious about how long the process finishes but if it is not taking too long, that can be the safest and most anonymous way to buy bitcoin besides using the other third-party services. I have not to try to buy bitcoin using Bitcoin ATM, maybe later if I can find it in my city. But still, I do not want to give my main phone number as the verification so maybe I will try with a one-use phone number only.

Yes, that is a new experience for bitcoin users to attract people's attention passing through that ATM and make them curious.

noorman0

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Quote from: excro on October 18, 2021, 08:13:04 PM

I have no idea why they required my phone number, and for the transaction time, I don't know too, since I was in a hurry, all I know, is that I recieved a notification on my phone saying transaction was sent a few seconds after the trade.

My assumption is the telephone number as a sign that you are registered as a customer of the ATM provider company (the process is similar to registering for social media with a verification code). Or worse, it's an attempt to collect bitcoin holder's phone number to spamming business and investment offers. So, stay tuned for the next few months. I hope my second assumption is wrong.

Quote from: excro on October 18, 2021, 07:35:08 PM

To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

I don't think it's completely anonymous once you gave your phone number.

Quote from: excro on October 18, 2021, 08:14:12 PM

I don't think your wallet gets linked to your phone number after such a trade.

You are right, the important thing is that you keep your private key safe.

excro

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Quote from: enhu on October 18, 2021, 07:54:41 PM

Haven't tried buying on ATM myself but does it mean your wallet is somehow linked to your phone number? Which BTC wallet?

I don't think your wallet gets linked to your phone number after such a trade. As for which BTC wallet I don't think I understand what you mean...

excro

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Quote from: GreatArkansas on October 18, 2021, 08:01:11 PM

Quote from: excro on October 18, 2021, 07:35:08 PM

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

Wow, it looks very easy and comfortable.

But I am curious why they still need a phone number verification? What is the use of it?
As we all know Bitcoin is decentralized, anyone can send Bitcoin to our address without any requirements?

And for OP, how many estimated minutes did you received your Bitcoin to your wallet?

I have no idea why they required my phone number, and for the transaction time, I don't know too, since I was in a hurry, all I know, is that I recieved a notification on my phone saying transaction was sent a few seconds after the trade.

GreatArkansas

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Quote from: excro on October 18, 2021, 07:35:08 PM

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

Wow, it looks very easy and comfortable.

But I am curious why they still need a phone number verification? What is the use of it?
As we all know Bitcoin is decentralized, anyone can send Bitcoin to our address without any requirements?

And for OP, how many estimated minutes did you received your Bitcoin to your wallet?

enhu

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Haven't tried buying on ATM myself but does it mean your wallet is somehow linked to your phone number? Which BTC wallet?

excro

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cloak.su

Hello everyone, I am writing this post, because yesterday, was the first time I ever used a Bitcoin ATM machine. I will be talking about my experience in this post.

So first off, I was asked a phone number for a verification code and then, I had to scan my Bitcoin address QR code. I then inserted 100$ of liquid money into the machine and recieved a notification on my phone telling me that the transaction went through successfully.

I was very surprised because I didn't think that the proccess would be that fast. To be honest, I will definitly buy from Bitcoin ATM's in the future as I clearly see this as the safest and most anonymous way to buy Bitcoin.

Regards, excro Wink

Topic: My first time using a Bitcoin ATM (Read 617 times)