Bitcoin Forum

Recently I became interested in the feasibility to withdraw btc through the atm. I read a lot of information about this, here, for example, this (https://changelly.com/blog/how-to-use-btc-atm) article on changelly.
If you guys have a similar experience, please share it. I'm worried about the anonymity of such a method. And all in all, aren't such things contrary to the idea of cryptocurrency on the whole if you have as much anonymity when working with it as you do with fiat?

It really completely depends on the ATM. Some ATMs require identification(mostly depending on how much you're buying as far as I know), some have cameras on them, and some, both. If a certain bitcoin ATM doesn't have both, then the price premium might(?) be worth it depending on how strict you are in terms of personal privacy. Buying(or selling) BTC on Bitcoin ATMs can get really really costly though; and I'm personally really not a fan of paying price premiums.

I mean, it's different from person to person. Some people are fine with buying/selling through KYC exchanges like Coinbase, and some prefer doing it through more anonymous platforms like Bisq. It just depends on you honestly.

If you're willing to withdraw your BTC in an anonymous way, ATMs are imo not the way to go. Let me explain why:

1. Most ATMs have cameras installed in order to identify QR codes. Some of the ATMs I've used took pictures of me while using them, hence my identity is already at risk. This happened only at one ATM I've used (it was the first and only time I've ever used that one), but it was enough to make me pretty angry for some time.

2. You'll risk being requested KYC at any point. I usually go for an in-depth reading of the Terms & Conditions of an ATM before using it, but most of them have updated their terms in the past few years to include KYC too. If you exceed a limit they've imposed or if your transaction is considered suspicious, you'll be required to offer identity before you receive your money in return.

3. ATM withdrawal fees are pretty high and inconvenient. You're risking to get identified by the ATM anyway at some point and they'll take a pretty high percentage of your money. Doesn't make any sense and in the end it may not be worth it imo.

4. Don't you think using ATMs are the anonymous way to go. You're going to sit in front of a camera and the funds you are going to receive will be trackable. There are most likely also security cameras around you, so if authorities want to know who you are, they'll find out.

Therefore, be careful if anonymity is the way you want to go. I would also like my identity to be preserved as anonymous for as long as it can be, but lately it's kinda hard to do it without it also being inconvenient one way or another. If you're going to go for the ATM withdrawal method, make sure you at least check out their T&C and/or contact them beforehand to know whether there are going to be taken any pictures/if KYC is required. Better be informed than unpleasantly surprised.

An ATM isn't anonymous, unless its in a place where you can use it while disguised/masked. Regardless of the ATM requiring you KYC or not (which can only make things worse) the fact that is a physical thing means it can have surveillance (and should, since vandals love breaking the things apart).

Some people find them convenient, i find them cumbersome (and horribly expensive). Your best chance for "anonymity" is online, perhaps even mining, but that option is rapidly disappearing.

Bitcoin isn't anonymous, and it wasn't designed to be. The level of privacy you can achieve with it depends entirely on how you use it. All your transactions are recorded on a publicly viewable ledger and can be linked to each other unless you take steps to break this link (such as mixers or CoinJoin). Most people broadcast their transactions from their own IP address or use custodial wallets from their own IP address. Lots of people have completed KYC procedures at various exchanges or third party services. Lots of people reuse addresses. The "standard" user who completes KYC at some big exchange to buy their bitcoin, and either spends directly from the exchange or withdraws directly to their own wallet, has less anonymity than if they were using fiat. If you want to use bitcoin truly anonymously, then you have to take active steps to do so. Have a look here for more information: https://en.bitcoin.it/wiki/Privacy

As stated above, bitcoin ATMs are not anonymous by any means. Even the ones which don't ask for KYC documents prior to use will still have cameras in them or near them recording your activity. A much more private way to buy and sell bitcoin for fiat is to trade peer to peer on a platform such as BISQ. For maximum privacy you can use untraceable fiat methods, such as cash in person or an anonymous money order.

ATMs were never made for anonymous purposes. It has camera and there is always a log of every transactions that is always done on it. Inventing and making use of crypto ATMs will also be same as normal ATMs. It's better not to use them for crypto transactions.

Crypto ATMs specifically in the US always ask for KYC when you try to withdraw I think more than $100. Remember US regulations have a strong chokehold on crypto going in and around the US, ATMs being financial kyosks physically in the US, MUST have some sort of regulations.

Where are you located that you thought it is anonymous?

Well, BTC ATM is one of the easy ways where you can withdraw your BTC to cash. If talking about anonymous or not, it will depend on the legality or not the ATM is installed in the country.
However, mostly, the Bitcoin ATM is not anonymous at all. You are still watched. The transaction is recorded, there are cameras, and also other things that you will find.

In my opinion, if it relates to withdrawal process, it will not be anonymous at all. Even you sell the BTC in the decentralized exchanges, then you will cash out through banks.

There was a bit of hope that anonymous ATMs might exist. Well, it seems that all this will remain only in dreams.

btc_love, conversion of BTC to fiat in an anonymous way is something that is increasingly difficult to achieve. Countries around the world are introducing anti-money laundering and so-called terrorist financing measures, which also applies to crypto transactions to a large extent. If you bought crypto legally and made KYC, then it doesn't really make sense to sell it anonymously.

On the other hand, if you want to remain completely anonymous you can use the direct buy/sell method on decentralized crypto exchanges, or to find persons for face to face transactions, which of course has risks to which you must be prepared.

Big Brother is always watching, and he has bigger eyes every day ;)

You're converting to a regulated currency, and it's not surprising that there won't be such anonymity. Bitcoin wasn't made for that kind of thing, although it might seem like it because people aren't required to show their identification, unless they like utilize an online service.
I never withdrawn fiat money from Bitcoin using an ATM, but if there's gonna be at least a minimum of what privacy are you willing to show and that would be your presence as you withdraw, because I believe that 99% of ATMs had that whether it would be your local currency or not.

But have you ever made a withdrawal at a bitcoin ATM?
Yeah maybe it's the same as fiat ATMs which are all monitored so this is not anonymous at all so I want to know if that ATM is actually used a lot?

In my country there is still no bitcoin ATM as expected, withdrawing BTC then cashing it.

I think the methods and the level of anonymity while withdrawing Bitcoin depends a lot on your local currency (so the country you live in, basically). I don't like the KYC stuff because I feel a bit embarrassed and unsafe making photos of myself and my ID... But it's not like I am obsessed with anonymity, so I don't mind that I usually use local exchanges that allow to sell BTC and receive fiat on my bank account which is, of course, tied to my identity.
My main concern with ATM is that people can rob you on the street, there can be a malfunction causing problems and the fees are ridiculously higher (usually) than when you use an exchange.

It's not difficult if you exchange for cash. You can exchange to fiat in a bitcoin embassy, or a normal face 2 face currency exchange. I've done that. There are facebook groups, or you can ask around and meet some bitcoiners in your area and trade with them. Also, stores that accept BTC are a pretty anonymous way to sell your coins.

Anything where you have to show your ID, go through KYC or share your IBAN will not be anonymous. That doesn't mean anonymous trading is hard.

It is basically your choice if you would withdraw your Bitcoin on ATM's and especially with some gimmick of a camera or QR code to be presented Because I think many ATM's don't have any camera installed to them, and I think the idea in installing a Bitcoin ATM in public I guess many will have a though that it is really anonymous but in ATM withdrawals I think all of us in the open without a mask that people would surely see us so I guess if you don't want to have that kind of feeling that you are transacting publicly then don't use Bitcoin ATM in my opinion.

I would recommend using bisq.network to exchange BTC in an anonymous way. Ask for cash rather than wire transfer. You can even do a face to face transaction with bisq and receive cash no questions asked. It's not an ATM, but way better imo.

I don't think you remain anonymous anymore. There ought to be some sort of surveillance camera around the ATM even if its a Bitcoin ATM because of security reasons. If there are would be no cameras around, people with ill intentions might tamper the booth, though most of the booth does come with a tamper switch. But, as far as I know, you need some sort of verification. I remember the one which I had used required entering my name along with my phone number. I had to go through a text verification.

Withdrawing BTC through an ATM should only be considered as the last option, especially if the need is urgent. Not only because you are doing everything in the open public but because you are also paying high fees. I am not saying you avoid it because it is not completely anonymous. In my place, BTC to fiat withdrawal is mostly done through banks and remittance centers. All of which involve KYC or filling out personal information sheets. The good thing is that you can withdraw large amounts for free if made through banks. Withdrawal is not instant, though. It would take several hours. But, to me, that would still be much better than doing transactions through ATMs if I am not in a hurry.

Hey
I myself do not have such experience but after reading certain articles I would tell you that if you want to do it , be careful , not all ATM's are reliable , Find a reliable source first then sometimes people even have reported that they had to wait for hours and hours before their money finally came.
Therefore you need to take everything in considering , check the Google for the reviews for the ATM you are thinking of using and then do it , it is somewhat new so it's still improving but if you find a good and reliable one , way to go.

 i dont think that ATM is a good vairant for withdraw. Check P2P exchanges instead

Using ATM in withdrawing bitcoin is a good choice for conveniency, but then, as what he had said above, the anonymity will not really apply to it. Using ATMs requires information verification and authentication, and we all know it is because of the safety for everyone who will withdraw.

As many people are using bitcoin nowadays, there's a high chance that we will all need to verify our identities online to have a secure transaction.

It will be each persons choice.
If they are comfortable with following the KYC method then it does not matter.
There are security when doing this kind of method.
Satoshi doesn't think of himself godly for him to discover something that would force us without options.

You can still stay half anonymous with bitcoin although every transaction could still be traced.
Don't think you are like those people who are hiding in bunkers that cannot be found just because you use bitcoin, there is still a way.

One of the good adaptation today is with the use of crypto currency it is they are now supporting the use of crypto currency because for now only few people accept the use of crypto because they are afraid with the security of their users and people who would like to use it. By that innovation many people want to have a faster and efficient atm that supports the crypto but now only few country accepts it but still you can do that if your country are supporting of atm crypto but if it does not it is better if you convert your crypto into fiat even it has a transaction fee for converting still some of us really need money or withdraw our funds to use our earnings. Hopefully other countries appreciate the use of it and also see the potential of the crypto to gain a lot of earning.

To be honest, I am not too worry as you. I think each crypto user will search and use their way to withdrawing Bitcoin. They will find one or two ways that can help them to withdraw bitcoin to their bank account. If they want to use the ATM, they can try to use it, and the different thing will happen too with someone who doesn't want to use the ATM.

Crypto user still care about the anonymity, and gladly, in the crypto world, we have so many ways that we can use to withdraw Bitcoin. So you don't have to worry with that because you can select the other way if you are afraid to use the ATM.

In terms of using an ATM intended for bitcoin, it isn't necessary to provide credentials or to give up our anonymity for withdrawing, take note, we are in the cryptocurrency world and we could transact even without exposing who we are. And I guess it is just a choice if we want to withdraw bitcoin in ATM if that particular ATM requires exposing who we are.



In some other way around, it is not just ATM that is the means of withdrawing cryptocurrency. In addition, if we've provided our credentials, it doesn't always mean that we are at risk. We could withdraw through banks as well, and we all know that it is our right to be protected instead of being exposed to risk.

Most of the atns were equipped with cameras so your security isn't safe with that. P2P is the real deal and the most reliable mode of transaction when it comes to withdrawing bitcoin. Most probably, the only hindrance is that if the government in your country adopted cryptocurrency already. Always check the possibility if the government will let their people mind their own business using bitcoin. I always tried to do P2P because it is more comfortable, effective and safe and you will never had a problem doing that if you really know the person you have a transaction with. So always secure your account and don't just use ATM if it's possible.

Actually you can do a withdrawal and depositing on a bitcoin atm but the thing is you need first to have been a kyc in order for you to purchase or sell bitcoin through the used of the bitcoin atm. For me myself I am not using bitcoin atm in my country because in my country we are using coins.ph and when we are withdrawing our money we are just converting it into fiat then we will be able to withdraw our money through the used of that platform that can be convert into fiat.

If you wary of anonymity then withdrawal through ATMs then it is not suitable for you but you can still somehow withdraw from it without letting anyone know that you are a crypto enthusiast, before take it out you could convert it first into fiat. Besides, I am not able to withdraw directly my crypto out from ATM for the reason that we don't have that yet in our place thus converting it first in fiat would fit in my case.

It is up to you on the way you want. There are people who are not much worried about privacy just as you are. Some people just don’t care, as long as they are getting what they want and the platform they are using is safe, then they wouldn’t worry about it.

I have been making use of coinbase for a while now and I’m never worried about the KYC, but there are some friends who don’t like making use of coinbase because they don’t like the fact that they are required to give out their information.And moreover I am not using Bitcoin ATMs because there are extra charges for using them, about 5% to 10%.. Instead of me to use an ATM I’d rather make purchase using  apps like Coin base and others.

It will bypass the main purpose of bitcoin which is to be able to transact anonymously. If we are going to have some ATM that allows us to be able to withdraw bitcoin, it will for surely gonna be centralized and the government will know our true identity. We must really take it slowly before implementing it so that it will not defeat the purpose of cryptocurrency.

gee . thats scary man  . good thing there is no btc atm nearby on my place yet because i was conscious about my privacy and i just dont want to share my identity to someone else not even on this btc atm's   . btc will be nonesense then if it will be the same as fiat powered atm's  . if that is the case then ill will only use fiat   . i only use my btc for online purhcase anyway  and im happy with it  . transacting with btc online is surely anonymous and also fast than using centralized payment provider  .

Many people expect that in their country there are bitcoin ATM machines, because they want the convenience of bitcoin transactions in the real
world.But they all did not realize, with transactions using ATM machines will make transactions no longer anonymous.Because the bitcoin ATM
machine is no different from the fiat ATM machine which without the user realizing our identity is revealed.Because every ATM machine there
will definitely be a camera that records the ATM machine users. Thus our identity when using the bitcoin ATM machine can be known to the
government. So from that now I decided to be more comfortable use only online exchanges for bitcoin transactions.

There are traces left behind and recorder for any instances that could lead to investigation just in case if there is a questionable transaction happen.  Thus, having ATM for withdrawal option is not the best option to do if we want to keep anonymous.
Why there is a need to use ATM? Besides, we can make use of Bitcoin in direct online transactions and much safe when it regards to anonymity.