bit coin atms better way for privacy?

[Alone055]

Bitcoin is and has been highly scrutinized for years now, and there's no way any legitimate ATM operator is going to get away with granting low fees and maximum privacy to the people who use their machines.  That's not the world we live in, unfortunately.

A harsh reality. The governments and authorities know they can't take away the privacy of every Bitcoin user, so they will always make use the opportunities they can find, and in this case, it's the Bitcoin ATMs that they scrutinize because they know, some people would want to use them, so they have enforced KYC for them, and as you mentioned, security cameras at ATMs are a norm, be it normal ATMs or Bitcoin ATMs, they would want to have your footage in their database.

I've also always wondered why people use Bitcoin ATMs when they can more easily and conveniently purchase Bitcoin online through different platforms, and we still have decentralised P2P platforms such as Bisq for those who are too privacy-conscious and don't want to use centralised platforms. For me, I think using a centralized exchange for buying Bitcoin is way safer than using an ATM, even though both require KYC, at least the first one wouldn't give you the fear of getting chased by muggers and robbers.

[BenCodie]

hey guys unfortunately im not comfortable doing p2p (and its hard to find/organise) and i only want to pay using cash, atm has given me the privacy i need here in australia but the rates and how much i lose is just ridiculous, i was hoping there was another way but i guess not, thanks for the advice though

The effort you put into finding and organizing P2P trades is what will save you the exorbitant fees that you'd be paying at a Bitcoin ATM. There are plenty of providers and a network of local traders will be an asset to your network in the long run. Also, Bitcoin ATM's are not private. Even if the ATM does not take your information/you use fake information, cameras are pointing at you in just about every direction, and the coins are linked to your physical appearance and identity (so I hope you're not searching for privacy for any wrong reason!). Also, there is always a chance of a nefarious onlooker to notice you, monitor you and steal from you. This has happened to countless ATM users in the past.

[Antotena]

Bitcoin is and has been highly scrutinized for years now, and there's no way any legitimate ATM operator is going to get away with granting low fees and maximum privacy to the people who use their machines.  That's not the world we live in, unfortunately.

A harsh reality. The governments and authorities know they can't take away the privacy of every Bitcoin user, so they will always make use the opportunities they can find, and in this case, it's the Bitcoin ATMs that they scrutinize because they know, some people would want to use them, so they have enforced KYC for them, and as you mentioned, security cameras at ATMs are a norm, be it normal ATMs or Bitcoin ATMs, they would want to have your footage in their database.

I've also always wondered why people use Bitcoin ATMs when they can more easily and conveniently purchase Bitcoin online through different platforms, and we still have decentralised P2P platforms such as Bisq for those who are too privacy-conscious and don't want to use centralised platforms. For me, I think using a centralized exchange for buying Bitcoin is way safer than using an ATM, even though both require KYC, at least the first one wouldn't give you the fear of getting chased by muggers and robbers.

Government doesn't care about privacy, in fact you don't have anything related to privacy when it comes to finance, the government institutions is designed to see everything you are doing, how you spend the money and when you spend the money. Bitcoin ATM are just one of the easy route to get access to Bitcoin but privacy is really far from it, you are involved in the transactions that you make and the Bitcoin you receive is already KYC coming from the machine.

If you don't want your Bitcoin to be watch and analyze, Bitcoin ATMsm isn't the best place and I'm not sure decentralized p2p gives you full privacy. One of the advantages of using decentralized p2p is your coins are not hold on the exchange, it's a market between users but the coin you are buying might be from a KYC platform. So to break this bond and have full KYC, your coin has to pass through a coin join protocol, not necessary a centralized mixers, coinjoin protocols can help with a new non KYC Bitcoin.

[Nwada001]

Bitcoin ATM sucks, don't forget Bitcoin was created with the goal of executing a p2p transaction seamlessly and anonymously. Most Bitcoin ATMs charge from 7% - 20% in fees which is far from being fair. Most of them even require KYC. If you cannot find a person within your neighborhood to exchange cash for Bitcoin then consider p2p decentralized exchanages likes HodlHodl or Robosats which aligns well with Bitcoin founding principles. Never sell your identity just to get Bitcoin it never ends well.

Bitcoin was created to cut out third parties getting involved while transacting, and it's working that way; it's just that some have chosen some other ways to make things a bit easier for themselves. Personally, I hate Bitcoin ATMs, as their fee is ridiculous, but let me also point out something: it's not as if some Bitcoin ATMs ask for KYC. All do get customers personal data from them even when they don't give it; as long as you make use of the service, you have accepted it. They will capture the customer's face while they use the machine, which is enough to show information about the customer.

[CryptSafe]

Bitcoin is and has been highly scrutinized for years now, and there's no way any legitimate ATM operator is going to get away with granting low fees and maximum privacy to the people who use their machines.  That's not the world we live in, unfortunately.

....... as you mentioned, security cameras at ATMs are a norm, be it normal ATMs or Bitcoin ATMs, they would want to have your footage in their database.

I've also always wondered why people use Bitcoin ATMs when they can more easily and conveniently purchase Bitcoin online through different platforms, and we still have decentralised P2P platforms such as Bisq for those who are too privacy-conscious and don't want to use centralised platforms. For me, I think using a centralized exchange for buying Bitcoin is way safer than using an ATM, even though both require KYC, at least the first one wouldn't give you the fear of getting chased by muggers and robbers.

Yes, you are very correct about the security cameras at the ATM centers, and not just that alone, do you know that the ATM itself has a security camera as well? It takes a record or captures your face, coupled with your details, while transacting, so it invariably means that your information and privacy are not safe while using the ATM for a Bitcoin transaction. However, using a third-party exchange means you are revealing your identity except you opt for the KYC-free exchange, which does p2p, but then one will have to be very careful so that they do not get scammed, as the identity of the vendors is not known, even the exchange too does not guarantee their safety while trading with their platform.

[tread93]

Try to to p2p you will get slammed with fees using bitcoin atm

Waitasec....weren't you an ardent supporter of BTCATMs not too long ago?

You might still be, or I might have you confused with someone else (though I don't think so), but either way you're right about fees.  I get this is an old thread, but I was going through your post history and wanted to write something about OP's question and your response.  

There might be great ways to buy bitcoin anonymously, but I've never found a method that's safe in that regard and convenient.  But jumping back to BTCATMs, some of them don't require a lot of information from customers buying small amounts....although there's always a camera, always.  For those out there who've never used one, it can be a cool experience but unless you buy, hold, and the price of bitcoin should happen to skyrocket past what you bought your bitcoin at the ATM at (fees included), it's not viable for buying long-term.

Then again, there was a time a few years ago when you could have bought bitcoin using one of those machines and you'd be into some serious profit right now--I'm talking about before the price shot up past $100k.  Anyway.

What if KYC is not needed for them, if we get the question of fees out of the situation?

What if, what if...

Bitcoin is and has been highly scrutinized for years now, and there's no way any legitimate ATM operator is going to get away with granting low fees and maximum privacy to the people who use their machines.  That's not the world we live in, unfortunately.

Yeah I mean I know a lot about them, I used to help operators plant these suckers like farmers in the spring time at the end of winter! I would help to supply the data and routers for their network. I'm out of that now for many years. Bitcoin ATMs are a huge rip off but hey they are convenient for basically anything if you dont mind 20% feel AND overpaying by like 10k on a jacked up bitcoin price, which most operators do. Coin atm radar and coinmap.org will give you tons of info. Personally im really loving the goldback ATMs from BTM operator Bitstop/Genmega. One day I'd love to see these distribute notes like Polymerbit's. That would be so cool... but back to Bitcoin ATMs, the feds Crack down quick on the operators who try to rig the AML and KYC requirements.