Want to buy Bitcoin Securely and Anonymous? Try Bitcoin ATMs.
On such price pumps exchanges tend to go down or get hacked. On the other hand in many countries Bitcoin ATMs dont need any verification on buying or selling BTC for cash and they work instantly.
I have used a few machines in my life an usually the steps for buying are:
- Check price
- Scan your Bitcoin wallet
- Put in cash (one bill at a time)
- Click withdrawal
Selling BTC for cash is opposite but there is less of those machines.
So the advantges are:
Speed
Cash in hand
Anonymity (USA/CA i assume its not the case)
Disadvantages:
Not for big transactions, usually 1-2 BTC is max you will buy
Extra fee due to anonymity and service (around 5% average)
You need to leave home
The best place for checking ATMs - https://coinatmradar.com/
Site is updated and has best list of ATMs worldwide along with extra infos.
Top countries by Machine Number
Also on Google Play you can download their app https://play.google.com/store/apps/details?id=com.coinatmradar.android&hl=en to have it handy on all travels.
So when you get BTC why dont you try a Bitcoin ATM to change them into cash!
Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips! |
 |
|---|
Be careful about extra fees! This one in Croatia takes 12.22%. It is a two-way Bitcoin ATM. Read more in step-by-step post. This is NOT a post promotion. It payed out! Video inside!
https://steemit.com/cryptocurrency/@buzzbeergeek/crypto-advice-how-to-cash-out-steem-with-bitcoin-atm-in-croatia
This is very important. The fees at most ATMs are outrageous. There are other options that allow the use of cash such as localbitcoins. That takes some more technical knowledge though.
and not getting scammed by the low prices :D I doubt anyone will buy you btc at the price of 3k, when he knows it's going to drop back down and he will be at a disadvantage. But I'm going to try both methods sooner or later :D It's good to have a human to human interaction, maybe that will even interest more people in steemit :) there was also a post on the localaltcoins project, maybe look it up :) it's still just an idea :)
Very nice post and guide!
Wait it can give cash also? I really though you can only put money in and you will get bitcoin paper wallet.
We have one ATM in the center of the city, I will have to check that out. For 5% it is almost better than holding money on the exchange and be scammed for them or looking and waiting for people to buy it locally.
If it does work then Bitcoin is really liquid, I like that!
Thanks kingscrown!
EDIT: So in my city they are selling bitcoin for 1809USD (I converted it) and are buying for 1628USD.
Yes it can, those that give cash are called two-way Bitcoin ATMs. They are more rare though.
About privacy/anonimity with EU ATMs: I've recently visited Budapest Hungary and used the ATM I found in Deak sq. It works both ways, altough it needs a cell phone number to complete the transaction.
I did a few purchases with such an ATM in Canada, for small amounts, 20-40$ CAD each time , with fees more expensive than I would have liked, but I was OK with them due to the ease of use. The speed was decent (less than the time it took to walk back to my workplace).
I may try again soon, because i'm really curious about the speed now, considering the 200k transactions backlog that's currently happening.
I seen a movie where guy does whole transaction in less than 30 secs :)
Recently ? Perhaps the higher BTC price in those machines do include a higher than average transaction fee (I sure hope so!).
Thanks for the post I had no idea about Btc ATM's I'm still learning! I agree with what you said
"In this world we are never 100% anonymous but this is as good as it gets"
I had an incident 2 years ago that showed me just how powerful the government or someone with the right resources can be. Where all my phones were bugged even the prepaid one. The computers had key loggers on them. They had total control of everything it was like something out of a movie. They used a device called a stingray but it was used on us wrongfully and in the end all we got was an I'm sorry from the local PD. It's a scary feeling knowing that someone can just come in and invade your privacy like that for no reason. To this day I wonder what that incident was all about but sometimes when you dig into things you make things worse so we left it along. Thanks again for the post sorry for the rambling. I should write about this experience! lol
Interesting and scary.
Good advice, thank you. I only live a few blocks from one of our 160 ATMs, so it's good to know this.
Honestly I find LocalBitcoins.com tends to be much cheaper, much more anonymous and less of a hassle. Some of these ATM's charge 10% and require an ID an that you use their wallet service initially before sending BTC to yourself and wasting yet another couple bucks on fees.
LCB often is 10% + there are many stories of robbery there
Just find the one or two good traders and use them over and over....
Thanks for this advice. Followed.
Great post empowering everyone while encouraging everyone to jump into the cryto-wagon! All for one and one for all! Namaste :)
That is really nice, but sadly no ATMs for bitcoin in Norway yet :(
I just heard that Skandiabanken in Norway is going to allow you to buy and sell Bitcoin! Let us know if you try out this new feature with a post.
http://www.newsbtc.com/2017/05/21/skandiabanken-norway-bitcoin-banking/
I was actually considering this when I read about it in my local (Norwegian) newspaper, but it is not as good as it might seem. For one, you need to buy the bitcoins yourself, and the bank is more like an online wallet than a trader. However, the security on the online bank wallet is probably better than a regular wallet, unless you take steps to protect it yourself. So it just don't feel worth it to me at this time, since that bank has some other drawbacks compared to the bank I'm currently using. However, this is a very good step in the right direction ;)
Convince the owner of your local drinking establishment to get one. :)
Congratulations @kingscrown!
Your post was mentioned in my hit parade in the following categories: