But I was referring to bitcoin ATM's, not regular ATM's, so there was a need for distinction. Just seemed short than to type out. But now look, you made me type it out anyway. I've seen others around here type BTM as well. Sorry that you didn't like it.
I recently saw a regular ATM at a deli/convenience store that had an option "buy/sell bitcoin" on the screen alongside regular banking options. Blew my mind. I asked the cashier to confirm it worked but he just went "Yah yah yah!" and clearly didn't understand what I said. I tried to test it out and it gave me an error. The spread was huge anyway, as it always is with BTM's. Tried to let the cashier know but once again, he didn't know what I was saying. Was going to add it to bitcoinatmradar but now I won't bother.
tldr; Bitcoin Depot is set to list on the Nasdaq under ticker symbol ‘BTM’ by Q1 2023 through an $855 million SPAC deal. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; Atlanta-based Bitcoin Depot has reached an agreement to merge with a special-purpose acquisition company (SPAC) in an $885 million deal in order to go public. Bitcoin Depot will trade on the Nasdaq under the ticker symbol BTM. Founded in 2016, Bitcoin Depot is one of the largest crypto ATM providers in North America, operating over 7,000 kiosk locations. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
He had to spend all of yesterday doing just that. We sent the phone number along with the receipt of transaction to the police and the BTM people blocked their phone number but I’m assuming that they have the money and likely cashed out quickly
They charged me ~$150 fee on a $600 transaction... I left a comment warning others about it on a BTM app, and soon after started getting endless foreigner insurance scam calls. Can't prove it was related but it sure seemed like retaliation
I remember when Chase did this last year. I told them to figure this shit out or I’m withdrawing any extra money and not looking back. They said I couldn’t buy BTC, I said I’ll withdraw the money using y’all’s atm and drive across the street to the BTM and buy it there.
"unlicensed" ATMs can easily be used to launder cash. I don't KNOW if OP was doing this, but if your on these boards long enough, you will eventually find ATMs that offer deals "too good to be true". Scam would work like this: 1. Take "dirty" drug cash and stock it in BTM 2. Offer "deals" on BTM to entice customers to convert your cash to BTC for you 3. Take BTC and begin a more effective digital laundering
Pretty sure that doing this is a business operation in the eyes of those laundering. The cost to launder is a huge factor, and BTM prices and relatively low KYC free limits stop this type of use. More likely that the laundering party owns the BTM.
First, every exchange has a different price, there isn't one "exchange rate" but using your number it's less than 10%, which isn't bad at all for a BTM. The company has huge overhead, so it's not even possible to come down close to what you get with online exchanges, there just isn't enough volume and those kiosks cost a lot of money and tie up cash for a period of time. A pro to using a BTM is often anonymity or immediate ownership. If you need or want one of these and the BTM offers it then the cost may be worth it. I'd like to mention that spread isn't used correctly in your post. A spread is the difference between buy and sell inside the same market. Many BTMs will use an exchange to find a price and alter both buy and sell equally. If the buy is 10% over the sell is 10% under, that actually makes a 20% spread. Not ask BTM operators do this, this one buys BTC for over market rate - and of course still sells it for more. https://btcmaine.com
some one got scammed in my city and they scammers used bitcoin. The cops took away the BTM machine thinking its the one that did the scam… We have long ways to go… It’s like when people get scammed by western union or banks atms, do the cops take those away? We even have “tech and cybersecurity” and even they don’t know this and the cops and everyone gets paid $$$$$$$$$$$$$ .
The crypto communities around the world has been in a race for the least secure payment system for some time. Paralelni Polis in prague has been accepting a private key as a form of payment on their infamous Android 4.0 based terminals from the beginning. The largest BTM manufacturer in czech republic, General Bytes, has been fully supporting this madness by introducing an NFC capability, so that you can store your private key on a wireless-capable card. Recently, they've encouraged attendees of their conference to put their money in the hosted lndhub instance. Lndhub at that time did not even had a password protection. After seeing this pinnacle of fintech, a member of CZ/SK bitcoin community proceeded to open his lndhub instance for public and lost a bunch of money. Recently, I've came to the conclusion that when people call for freedom from regulations, they usually want to just hurt themselves and people around them, instead of innovate. Guys like this couldn't possibly do more to harm the bitcoin's public perception.
Look around the house for USB devices like the Ledger, Trezor, or ColdCard. Check any flash drives or hard drives or SSDs on his computers for wallet software. Look for lists of seemingly random words among his papers (likely hidden), with either 12, 18, 24, or 25 words. If the BTM receipts show a destination address (usually beginning with a 1, 3, or bc1) then look for those addresses with a blockchain explorer to see if the funds are still on them or were moved around -- if they were moved around repeatedly, your father may have been purchasing stuff, whereas if they are still on those addresses he may have been hodling. Unfortunately, if he followed even minimal security procedures, with no last will or other documentation, it's likely that the Bitcoin will never be accessible.
For exchanges? Cro is winning for sure. Coins? Ada lost the hype now but they might pick up again. Algorand’s been picking up outdoor advertisements. I see Tezos occasionally now too. Bitcoin? Idk they just put up a BTM and nobody uses it
you're not wrong, but keep in mind some of my coins listed (AIB, ARG, BCN, BTM, GLT, LEAF, NYC, PTC, SXC, VIA, VTHO, XMY) were merge mined and may only be worth a few bucks. Still would like to take advantage of any opportunities regardless!
Use Bitcoin to make purchases on the internet. Lots of download sites accept it. Some merchant sites do too. If you buy Bitcoin originally without undergoing identification procedures (KYC) then you can send money anonymously to anyone you want -- random stranger running a website you like, the Taliban, Edward Snowden. No government can block you (yet). Just keep any excess that you didn't spend in a way that continues to be anonymous. Use Bitcoin to travel and avoid currency exchange ripoffs when you travel. Sure, cashing out at a BTM might cost you 10%, but it's possible to find a local who wants to buy and get fair market value, especially if you arrange this ahead of time. Use Bitcoin to avoid financial surveillance by the credit card companies and governments. Helps if you got it anonymously, but even if not, it's at least harder for them to track you than it is for them to track your credit cards. Use Bitcoin to avoid being de-banked by the woke mob if they come after you. Just look at the last couple of years of psychotic assholes on the internet demanding that companies stop providing basic business services to people they decide they hate -- General Michael Flynn and Andrew Torba for two examples. > If it's a hedge against inflation, I'm a fan. If it's a way to avoid supporting banks, I'm a fan. What are some other reasons, and am I correct in thinking those two first points are real?
New Black Swan Bitcoin ATM in San Francisco! The Black Swan Bitcoin ATM is located inside of the 2524 Mission #BTM in San Fransisco California. You can buy Bitcoin with cash and receive it instantly at this location using a Bitcoin ATM.
Nope, its better to buy on peer 2 peer exchanges, BTM, or [localcryptos.com](https://localcryptos.com) so you can get your BTC without KYC. While it might cost more, it will cost a lot less when you cash out the same way and forget to pay cap gains
I've never seen a BTM that had two-way functionality. Whatever you deposit gets fees subtracted and then whatever value remaining is sent to you as BTC. Even if you find a two-way BTM, it's going to have only one or two denominations of bills that it gives out, most likely $20's and $100's.
Hey - I know this is an old post, however if you are interested still or if anyone on this thread is, I am a BTM compliance officer and work for a company that does all the regulatory work for you and for a good price. Would love to talk more. ​ Here is the info:[https://www.btmcompliance.com](https://www.btmcompliance.com)
tldr; Bitcoin of America recently announced the addition of Ethereum to their Bitcoin ATM machines (BTMs). Bitcoin of America has 1300 BTMs across 31 states and offers Bitcoin and Litecoin options online and at their BTM locations. To find a BTM you can visit their website and enter in your address to find one near you. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
"Bitcoin of America recognized the growing popularity of the cryptocurrency Ethereum and decided it was time to include it in their Bitcoin ATMs. To date, Bitcoin of America has 1300 plus BTMs across 31 states. Bitcoin of America also offers Bitcoin and Litecoin options online and at their BTM locations."
It's not impossible. Simple solution: 1. buy from anyone without KYC: a. buy it from a BTM that doesn't ask for it b. buy it from an individual c. pay someone else to do the KYC for you 2. HODL 3. after the Bitcoin increases in value, sell without KYC: a. to an individual b. spend in a country where it doesn't get taxed, e.g., El Salvador c. use hard-to-trace spending over LN d. use privacy-oriented spending features that may be developed some day Buying with KYC is the default today, but it's entirely possible to obtain Bitcoin with absolutely no one knowing about it. Cashing out through a KYC'ed exchange is what a lot of people do, but it's not mandatory and probably never will be worldwide.
I’m confused now have you never heard of a BTM? - there is no coherent argument you are making- we are gonna agree to disagree since you have no cited arguments and just throw jargon and China out here for my entertainment lmfao
tldr; Bitcoin ATMs are a way to buy or cash out Bitcoin (BTC) and other cryptocurrencies bypassing the traditional banking system. Buying or cashing out cryptocurrency via a Bitcoin ATM is like withdrawing cash from a regular card. In countries where cryptocurrencies are regulated by law, in order to use the BTM, you may have to pass identification. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
I've found that you can either buy from a local BTM and then swap from there for onboarding. Alternative to some others. The Cash App now supports BTC in HI they are KYC but once you are setup you can email support to enable your account to purchase BTC. From there I used https://simpleswap.io/ (KYC free) to move BTC to BNB and from there pancakeswap or others to whatever. Fees are decent. Note simple swap took ~ 30 minutes to process the transaction. I got into Safemoon early and still with the project in it's ups and downs.
You may have accomplished opening up some people’s eyes to “anonymous” BTC purchases if your magic BTM really doesn’t require ID verification but you also lied about what cost that comes at with your ridiculous claims that you paid the same price for BTC that coinbase offers while simultaneously saying “near” the same price in your comments. More like you paid 15% too much But yeah. Total lying karma whore post and you got called out in all the top comments on your BS. Good for you. Maybe you can buy something with your 500 karma. NOICE
If the new infrastructure bill passes with the crypto clause, it will effectively close the BTMs as you know it. It will definitely require them to have KYC and better AML protections. Yes, prior transactions stand. But your wallet address is tied to that phone number and a time stamp along with likely video footage of you doing the transaction. So, in the case the gov really wanted to know who bought 0.1 BTC from a certain BTM, they likely can find out. They just don’t care right now. Also, are you keeping up with your privacy after you get your private BTC. Like only checking that wallet from a TOR browser. Not spending any on anything linked you your email/phone/home address? Not transferring from that private wallet to a more used one, etc, etc.
In the US this is what you do: 1. Buy 99 dollars worth of BTC from BTM. Do not KYC. If it asks for a phone number use a fake one online or Protonmail email. Think. Cover your tracks. Don't leave any papertrail. 2. Buy on Bisq repeatedly with the 99 dollars as escrow until your stack is big to do larger trades. 3. When buying from Bisq always use US postal money order from the post office. PAY WITH THESE IN CASH. This is the only way I know how. But there are still more things you need to think through like the IP address you might be using and what network you are on. THINK. Privacy online is an art. Not a set protocol.
Major Bitcoin (BTC) ATM operators in the United States are joining forces to fight illicit activity related to Bitcoin ATMs. Bitcoin ATM operators DigitalMint and Coinsource have launched the Cryptocurrency Compliance Cooperative (CCC), a new association that aims to establish compliance standards for the Bitcoin ATM industry. The new compliance effort has launched with support from major blockchain analytics firms, such as Chainalysis and Elliptic, among its 15 initial members. The CCC is now encouraging participation from cash-based crypto money services businesses, regulators, financial institutions, as well as non-state and law enforcement agencies. The association specifically targets Bitcoin ATMs to ensure Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance, as this type of ATMs is often associated with a lack of KYC requirements. “Unfortunately, many BTM operators feel that merely asking for a cell phone number is enough due diligence to absolve them of their mandated KYC requirements,” Coinsource head of compliance Bo Oney said. “Such lax provisions provide a safe haven for bad actors to abuse the machines for nefarious purposes. The CCC is seeking to bolster regulatory requirements for the benefit of all BTM users and operators. This will require input from the most knowledgeable in the industry, all with the goal of making the cash-to-crypto space as safe as possible for consumers,” he added. Seth Sattler, director of compliance for DigitalMint and leading CCC contributor, said that illicit use cases related to the Bitcoin ATM industry are well documented by several law enforcement agencies, including fraud, elder abuse and drug and human trafficking. Related: Global crypto ATM installations have increased by 70% in 2021 “While a small number of Bitcoin ATM operators go above and beyond with KYC and AML protocols, others in the cash-to-crypto industry simply turn a blind eye and are complacent to these bad actors by simply applying the bare minimum customer protections, which in many cases allow for completely anonymous transactions,” Sattler noted. Similar to a traditional ATM, a Bitcoin ATM, or a BTM, is a kiosk allowing users to purchase or sell Bitcoin and other cryptocurrencies by using cash or debit card. According to data by BTM tracking website How Many Bitcoin ATMs, there are currently more than 42,000 BTMs in the United States. In February, the State of New Jersey Commission of Investigation discovered that 75% of the BTM operators in the state allowed certain transactions without requiring the customer to provide any information outside a cell phone number. Last year, an executive from blockchain analytics firm CipherTrace predicted that Bitcoin ATMs would face stricter regulations worldwide, with countries including Canada and Germany already moving to strengthen necessary AML regulations.
I have personally not used a BTM as they arent available in my country as yet, but have done a bit of research on them as i have plans to implement some in my country. They seem safe and follow the regulations from the government, so i dont think safety will be a concern for you.
>gait analysis yes i am aware. its doubtable all that analysis will be made for the sums people exchange at a BTM.anyway, if you feel like its of value you can obscure these things aswell. it is told putting wadded newspaper in your shoes and making a bit smaller or lager steps as usual is already sufficient for breaking that kind analysis
> ok then go to a bitcoin ATM Bitcoin ATMs require KYC, any ATM vendor of any size complies with KYC: https://coinflip.tech/news/do-i-need-an-id-for-a-bitcoin-atm-transaction https://www.pelicoin.com/blog/why-do-bitcoin-atms-require-id https://bitcoindepot.zendesk.com/hc/en-us/articles/360026612053-What-do-I-need-to-purchase-Bitcoin-Litecoin-or-Ethereum-from-a-Bitcoin-Depot-BTM The idea you could just set up an illegal money laundering network hosted in legitimate store fronts and the government wouldn't do anything about it is roflworthy. These websites literally have maps of where to find their ATMs.
Buying Bitcoin Now that you’ve registered and verified your identity, it is time to buy some Bitcoins. Just enter the dollar amount for which you want to buy and slip in the fiat notes one by one into the designated deposit area. After depositing the money, the machine either prints an offline wallet for you or sends Bitcoins to your Bitcoin wallet. Some machines might also offer to send your Bitcoins to your email address. When you first start a Bitcoin wallet you get a slip of paper with a QR code printed on it. You can scan the code to get the private key and then use the private key in a wallet to gain access to the Bitcoins you’ve bought. If you want the Bitcoins to be sent to your pre-existing wallet, you can scan a QR code representing your wallet address using the BTM scanner. Bitcoins are directly transferred to your wallet. If you choose to receive your Bitcoin by email, the QR code is sent to your email. Some services allow you to set a password to encrypt the email.
That’s a major security risk that is not work accepting. The BTM is already connected to the internet. Does the printer store the last few jobs it did to memory or a hard drive? Your keys can be compromised. Does the security camera on the BTM or any nearby have the ability to see the receipt as someone pulls it from the machine? You wouldn’t know until your coins disappear. Printing paper wallets is a terrible idea in general especially so for an internet connected, constantly surveilled piece of equipment. The most secure way to use a BTM is to send the coins to a wallet you control. Frankly it’s just easier; there’s much more steps involved in generating a paper wallet, funding it and spitting it out; much more than just asking for an address and broadcasting a transaction.
This is how I’ve done DCA for the past 6 months. There are so many BTM in my town. Good idea but they won’t understand the fees right away. Minimum purchase for eth right now at a BTM is $100usd but you can do as little as $20usd. All in all a great idea because people under 18 can do it. All they need is their phone for the qrcode and money. My kids even do this with their allowance.
Some require your SSN. Some only require your SSN if you buy a certain amount per day. That's just for their compliance records. The only time a BTM operator might issue you and the IRS tax forms is if you sold thousands of dollars worth of bitcoin to them.
DYOR but I poured in percentages on ONE KLV NIM and will still hold for years down the road potential. Right now I like GET protocol, SOLVE is intriguing to me with caution, obviously VET, AAVE super long term, VRA, BTM.... It's easy to make brilliant moves at the onset of a bull market, but we'll see where we are at currently 6 months from now.
I have recommended to all 3 of my kiddos to install BlueWallet on their iPhone “Pad <—for the youngest” and when they do chores or are gifted money to go to our local BTM and buy BTC. My youngest (7) collects change from my pants and car when he cleans it and we go together. No ID needed just a number for confirmation and a qrcode. The cashier loves it when we all go in. Called us the Bitcoin family and I had to inform him of that channel.
Absolutely yes. At most I’ve seen is some atm machines also are BTM and they require a app that then asks for a password and tour phone number. Where are you or can you tell me what type of atm it is and I’ll look it up and see what type of machine it is
Probably has a BTM set up inside. You can Google BTMS near me and you'll probably see it listed. The way it use to work not sure now. You can put in up to $800 with just a phone number and up to 10k with an driver's license. You just set up a wallet on your phone and send the coin there. However BTM fees are rather high usually 10% to 20% depends on the current market and that company. If you don't need a way to just get rid of cash or get some anonymous crypto I would just get it from an online site like coinbase. Or better yet an individual who owns it.