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Title: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: satjulien on August 09, 2017, 06:47:49 AM Hello to everybody,
I am very new to BTC but want to learn. I have Electrum 2.9.2 on my desktop computer. Let's say I have 3 different address with 50$ on each. I want to go to an BTC ATM machine (Genesis type) to have 75$ cash. I suppose that the machine will give me a QR code on its screen to send them the required BTC. Obviously, I will not bring my heavy desktop computer. 1- Should I download Electrum for Android on my mobile phone? Let's say so. 2- On Electrum for Android, Option A- do I create a wallet with my Electrum desktop seed and have everything (3 address), or Option B- do I create a new wallet? If I create a new wallet, 3- Do I sweep 2 address from my desktop to 1 address on my mobile. Please, explain the process of sweeping. Is it my Electrum desktop that begins the sweep process or the Electrum mobile? Do I have to sweep all the address or, what I would like, only 2? And can we sweep the 2 address at the same time? OK, let's assume now, that I have 100$ on my Electrum cell phone. On the ATM machine, I scan the QR code, send the money in BTC and get my 75$ cash. Now, I have about 25$ (let's forget the fees) on an new «change» address. If I have Option A, does the mobile wallet synchronize automatically this new «change» address with the desktop wallet? If so, do I have to, next, delete the mobile wallet for security? If I have Option B, do I have to sweep this new «change» address to the desktop wallet? In this case, the mobile wallet would be empty for security. Ouf, c'est tout! :) Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: leonair on August 09, 2017, 07:03:21 AM For me it is better to create a different wallet beside your electrum if you want to maximize your security because beside you having a local electrum wallet why not create some blockchain.info app in your phone and use that in withdrawing to different ATM machines.
Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: satjulien on August 09, 2017, 04:20:31 PM For me it is better to create a different wallet beside your electrum if you want to maximize your security because beside you having a local electrum wallet why not create some blockchain.info app in your phone and use that in withdrawing to different ATM machines. Thank you for your answer. 1- Why blockchain.info app on my phone vs Electrum app (Android) both creating a new wallet? (more user friendly, etc. ?) 2- What about my sweeping, synchronizing and security questions starting in my original post after «If I create a new wallet,»? Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: hubballi on August 09, 2017, 10:04:25 PM In the Electrum desktop wallet their will be lot of address and even if you receive bitcoins in different address but when you are sending the coins it will send from all the address to one single transaction if you are doing all out, if you do part then which address got credited first will be added fully and then the balance required btc will be obtained from another address and then it will send in one transaction.
Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: satjulien on August 10, 2017, 12:43:58 AM In the Electrum desktop wallet their will be lot of address and even if you receive bitcoins in different address but when you are sending the coins it will send from all the address to one single transaction if you are doing all out, if you do part then which address got credited first will be added fully and then the balance required btc will be obtained from another address and then it will send in one transaction. Thanks. «In the Electrum desktop wallet their will be lot of address and even if you receive bitcoins in different address but when you are sending the coins it will send from all the address to one single transaction if you are doing all out» Yes, this I understand, but as I will not bring my desktop to the ATM, it will not send anything, except some of its asset, if possible, transferred to a mobile (phone) app. So I think that the question 1- Should I download Electrum for Android on my mobile phone? is yes, or with blockchain.info app suggested by leonair, or, other suggestion here? On the question 2- On Electrum for Android, (or other phone app) Option A- do I create a wallet with my Electrum desktop seed and have everything (3 address), or Option B- do I create a new wallet? I think the answer is Option B, as also suggested by leonair. Which makes sense. If I have 10,000$ controlled by my Electrum desktop wallet, I would prefer to have 100$ controlled by my mobile app to cash 75$ at the ATM. «if you do part then...» This, I understand as being the sweep process and we arrive at my question 3- Do I sweep 2 address from my desktop to 1 address on my mobile. Please, explain the process of sweeping. Is it my Electrum desktop that begins the sweep process or the Electrum mobile? Do I have to sweep all the address or, what I would like, only 2? And can we sweep the 2 address at the same time? Can someone explain this process? Is it the Electrum desktop wallet that sweep a part, in my example 2 address of 50$ each, to a BTC phone app, or, is it the BTC phone app that asks some address (here 2) to be swept from the Electrum desktop wallet? Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: Intensity on August 10, 2017, 03:40:32 PM You will send from your Electrum desktop computer, and the amount being sent will be taken from the three addresses. If I am not mistaken, your oldest coins come out first. The receiving Bitcoin address (Phone wallet, etc...) will combine the coins into one address/transaction. For example if you transfer $75 to your new address...
Address 1: $50 > New Balance 0 Address 2: $50 > New Balance $25 Address 3: $50 > Remains at $50 Receiving Address: $75 Hope this helps. Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: satjulien on August 11, 2017, 03:14:32 AM You will send from your Electrum desktop computer, and the amount being sent will be taken from the three addresses. If I am not mistaken, your oldest coins come out first. The receiving Bitcoin address (Phone wallet, etc...) will combine the coins into one address/transaction. For example if you transfer $75 to your new address... Address 1: $50 > New Balance 0 Address 2: $50 > New Balance $25 Address 3: $50 > Remains at $50 Receiving Address: $75 Hope this helps. Thank you Intensity. Yes, this is the simplest and maybe the better way. We transfer, let's say 80$ to be sure to cover fees, from the Electrum desktop wallet to the mobile (phone) wallet which makes the transaction with the ATM machine. But there is another way named «sweep». If I understand, it consists about sweeping some address (let's say address 1 and address 2) from the Electrum desktop wallet to the mobile (phone) wallet. It seems to be more secure than importing those address. Is there someone in this community that knows about this process? What are the advantages or disadvantages vs the simplest method of just transferring money a suggested by Intensity and, I understand now, by hubballi? How do we do it? Is it the Electrum desktop wallet that sweep a part, in my example 2 address of 50$ each, to a BTC phone app, or, is it the BTC phone app that asks some address (here 2) to be swept from the Electrum desktop wallet? And, what is your favourite BTC phone app? Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: TryNinja on August 11, 2017, 03:36:16 AM -snip- Mycelium for Android, and Breadwallet for iOS are good choices."Sweeping" is the process of sending all your funds available to another address. Unlike you importing an old address to a new wallet, sweeping requires a transaction between two addresses, since you are sending coins over the blockchain. Is the same as you going to the "send" tab of your wallet and sending every Bitcoin you have to a new address. There is nothing special about this process. When Should You Sweep a Private Key? You should sweep a private key if someone else has or will ever have access to the private key (like if someone gave you a paper wallet or the private key was published online). This will prevent a thief from ever being able to spend the bitcoins associated with it, even if they have or ever get access to it. If the private key (or paper wallet) will be used again in the future then you can keep it and sweep its contents again once more bitcoins are sent to it. If you’re still in doubt of whether to import or sweep a private key, you should probably sweep it. It solves many of the issues that can arise from doing an import. Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: satjulien on August 11, 2017, 04:07:17 AM -snip- Mycelium for Android, and Breadwallet for iOS are good choices."Sweeping" is the process of sending all your funds available to another address. Unlike you importing an old address to a new wallet, sweeping requires a transaction between two addresses, since you are sending coins over the blockchain. Is the same as you going to the "send" tab of your wallet and sending every Bitcoin you have to a new address. There is nothing special about this process. When Should You Sweep a Private Key? You should sweep a private key if someone else has or will ever have access to the private key (like if someone gave you a paper wallet or the private key was published online). This will prevent a thief from ever being able to spend the bitcoins associated with it, even if they have or ever get access to it. If the private key (or paper wallet) will be used again in the future then you can keep it and sweep its contents again once more bitcoins are sent to it. If you’re still in doubt of whether to import or sweep a private key, you should probably sweep it. It solves many of the issues that can arise from doing an import. Thanks a lot TryNinja for your clear answer on the last two objects. Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: Jaycee99 on August 11, 2017, 09:46:53 AM Good day sir I would like to suggest you go read the comments before downloading the application for android because I myself read the comment its negative. First I would like to say Iam not against Electrum wallet because at playstore when I read the comments its negative so I would like to share stay with your desktop wallet try to send it to other wallet like waves (the wallet I first thing learned). Go ahead and try it I myself did not try this because I dont have any electrum wallet and conflicts from my wallet.
PS: This is just a suggestion I just in the process of studying and as I see my post of other I think they have much more knowledge than me. So its up to you if you want to try my suggestions Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: satjulien on August 11, 2017, 03:10:01 PM Good day sir I would like to suggest you go read the comments before downloading the application for android because I myself read the comment its negative. First I would like to say Iam not against Electrum wallet because at playstore when I read the comments its negative so I would like to share stay with your desktop wallet try to send it to other wallet like waves (the wallet I first thing learned). Go ahead and try it I myself did not try this because I dont have any electrum wallet and conflicts from my wallet. PS: This is just a suggestion I just in the process of studying and as I see my post of other I think they have much more knowledge than me. So its up to you if you want to try my suggestions Thanks Jaycee99. As of now, my plan is to transfer the money I want to ATM cash from my desktop Electrum wallet to a Mycelium android phone wallet. But, I am open to other suggestions. Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: Mike Mayor on August 13, 2017, 01:47:09 PM Doesnt matter one single bit so long as the wallet you using has support for your private key. You simply import your private key into said wallet app and then you have access to your wallet and BTC funds. I suggest only using wallets where you own the private key because otherwise your coins are not actually yours. This is why you hear people say not to leave coins in an exchanges wallet for too long.
Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: hdclover on August 13, 2017, 02:29:26 PM spare your self a headache , get a smartphone ? u can use electrum on android.
Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: satjulien on August 14, 2017, 04:19:23 PM Doesnt matter one single bit so long as the wallet you using has support for your private key. You simply import your private key into said wallet app and then you have access to your wallet and BTC funds. I suggest only using wallets where you own the private key because otherwise your coins are not actually yours. This is why you hear people say not to leave coins in an exchanges wallet for too long. Thanks Mr. Mike. Yes, my BTC are (or are managed) in my desktop Electrum wallet, so I have my own private keys. What I understand here is that, instead of transferring (sending) coins in my phone wallet app, I just need to import my private key(s). Is this an advantage vs sending the coins? Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: satjulien on August 14, 2017, 04:47:12 PM spare your self a headache , get a smartphone ? u can use electrum on android. Thanks hdclover. You're the first one suggesting that Electrum for android is good too. Are you too suggesting to import address or sending the amount to cash from the Electrum desktop wallet to the Electrum phone wallet? Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: suncomer on August 15, 2017, 08:37:01 PM Do you think I can find such cash machines in UK?
Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: satjulien on August 15, 2017, 09:12:37 PM Do you think I can find such cash machines in UK? Sure! See at https://coinatmradar.com/country/225/bitcoin-atm-united-kingdom/ Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: sukiho on August 18, 2017, 12:04:22 PM Do you think I can find such cash machines in UK? Sure! See at https://coinatmradar.com/country/225/bitcoin-atm-united-kingdom/ The info in this site is up to date? Why I could not find in the south east asian countries? Anyone knows? Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: Moddak2 on August 18, 2017, 03:35:43 PM Its easy,just withdraw bitcoin from exchangers,to where you need exchange bitcoins to.Trusted exchangers on bestchange.
Title: Re: How to withdraw cash money from a BTC ATM with a desktop Electrum wallet Post by: satjulien on December 17, 2017, 10:44:09 PM Hello, I'm just back to close this thread, but I don't know how to do it.
Just know that I send the amount of the desired bitcoins to an Electrum android phone wallet in the purpose of a cash withdraw from an BTC ATM. Thanks to having provide me confidence in this world of cryptocurrency! |