Bitcoin Forum

Would you store your bitcoin on a paper wallet printed direct from the ATM you purchased it from?

it depends on how much bitcoin do you store, if just a little, yes , you can do this way, but if it a large number, you should choose a better way.

What has this got to do with storing the bitcoins printed by the atm?

I personally would not use them to store any significant amount of coins. Someone else handled the private key (even if generated randomly) and potentially has acces to them through ATM logs..

I would not. That goes directly against cold storage best practices, as that ATM is (I'm supposing) connected to the internet. Not to mention you don't know how the code written and what it's actually doing with private key. It might be holding the key in memory or whatever.

exactly.

big amount? use deep cold storage or a hardware wallet:

https://bitcointalk.org/index.php?topic=899253.0

Before Bitcoin ATM can be use, im sure they have got certified and allow to be operated.
Ofcourse I will use it, since bitcoin ATM is another option as bitcoin's media beside internet. It will increase more effieciency of transaction

it's seems very unsecure, it like you tell someone else to do a paper wallet for you, unless those ATM come from  the government itself or are secured in a bank and bitcoin is regulated in the country that use those, i'm not touching one ever

Mike Tyson approved!!! ;D

http://fs2.directupload.net/images/150726/q4grjaio.jpg (http://www.directupload.net)

I'll probably lose the paper Haha, so no, not for me. I also never buy low quantity Bitcoins, still like to use an ATM. Is there a max deposit on major brands?

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why not? the only thing i should considerer is to split the ammount into more than one paper wallet, well if this is only an small ammount then you dont need to split it but for ammounts a little bit big then yes, i will split it, but i always suggest to do it with everything.

as i always sayd dont put all the eggs on the same basket ;)

Based on the amount
Paper wallet are easy to store
For a little amount i would rather prefer paper wallet only.

This is very risky mate, no matter which amount it is! I would not do it if I was you. Also listen to the others above my post.

no way. unless the amount is too small that i don't care if it is stolen or lost. or the ATM is installed by a trusted bank or some organization that i can fully trust. but i will never trust  with big amounts.

i didn't even trust myself enough when i created my cold storage. let alone trusting a third party to create my private keys for me!

but i guess it would be a good idea if there were some trusted ATM that people could use to create a secure paper wallet with, especially those who are new to bitcoin or don't have the knowledge or interest to create their own paper wallets.

No, that would be risky. The private key could be recorded or something. Also if not, and something happened while the ATM printing the paper wallet you could lose it all.

Just doing it myself is already fine and secure.

Thanks for all the advice. I used a  bit2bit ATM.
The general consensus seems to be that the atm could store my private keys and someone could steal my coins. Has this ever happened?  It would be nice to hear from someone who runs an atm or knows how they work to put my mind at rest.
Being that this is the easiest way for me as an "average joe" to purchase bitcoins It would be nice to lose the paranoia surrounding this method.

The one bitcoin ATM I used would only scan a public address, the remit funds to it. No option to print a paper wallet.  It was a Lamassu device (one way fiat to crypto).

Based on the commentary in this thread, I prefer paperless.

I've been watched this video
this video about how to using bitcoin in singapore
they already have many Bitcoin atm
https://www.youtube.com/watch?v=Lqyuit570A8 (https://www.youtube.com/watch?v=Lqyuit570A8)

There are ATMs in Finland that send the bitcoin straight to an online wallet.

no, i'm not use bitcoin atm, cause i was make a trouble about that.
may be cause i dont understand to use it.
and cause i scared too, if i make mistake, may be my btc will lose, i shouldn't want it.
so, for the simple now i go to the bank to exchange it.

A thousand times NO.

Never store any bit coins in a private key that is provided by an untrusted third party. They could easily retain a copy or use a formula (ie hash of "ourkey1","ourkey2", ...) that lets them have access to all the generated keys.

Not really no, i read stories on reddit about shady ATM operators :|

How about "Would you store your bitcoin on a paper wallet printed direct from a site?

Yeaa sure i will go for bitcoin atm.
I just love it.

if it is true, then it will be easier for us to transact in the real world   :)

atm bitcoin if there is in my area, I would have used it, but before making bitcoin atm first place should be certified of government