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Author Topic: Selling BTC at Bitcoin ATMs in the Netherlands? Any recent experiences?  (Read 72 times)
bittoc222
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June 13, 2018, 06:22:27 PM
 #1

I'm looking to cash out some Bitcoins and am considering to give the Netherlands a visit for this (I'm from Germany myself).

I've found an ATM in Enschede on coinatmradar.com that would be kinda close to me. https://coinatmradar.com/bitcoin_atm/4065/bitcoin-atm-general-bytes-enschede-shell-petrol-station/

Does anyone have experience with this? Does this still work with no problems for up to 1000€ with no ID?
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LeGaulois
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June 13, 2018, 06:34:37 PM
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ID verification is required for the sales, with a scan ID and a selfie. It's only for the purchases that ID verification is not needed (up to a certain amount). Another thing good to know is not all ATM accept the sales and look like the one you mentioned only support fiat to crypto transactions.

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June 13, 2018, 07:58:48 PM
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ID verification is required for the sales, with a scan ID and a selfie. It's only for the purchases that ID verification is not needed (up to a certain amount). Another thing good to know is not all ATM accept the sales and look like the one you mentioned only support fiat to crypto transactions.
Without any limit? So even if you only sell like 100€ they will document and log your trade with a scan of your ID?
Also what do you mean a selfie? Before you go there at all you have to scan your ID to give to them? I don't really get it.
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June 13, 2018, 08:43:52 PM
 #4

The link you are pointing to is quite contradicting with its information. Initially it says that no verification is needed for amounts up to €1000, but when you click 'Check Online', it states KYC/AML is required, but without indicating any limits on when it kicks in. On top of that, it's not even clear whether or not it's a 1 or 2 way ATM as LeGaulois pointed out. I think the only way to actually find out is to visit the Shell petrol station. They do charge a steep 5-7% fee though.
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June 14, 2018, 09:12:28 AM
 #5

I can confirm that the Bitcoin ATMs I have seen are all from the General Bytes unidirectional ATMs for buying Bitcoin, not for selling as you seem to require. There is this documentary in Dutch that showed both so maybe you can glean the location for bidirectional ATMs, called BAMThree. https://t.co/lIxqMZ7bsd?amp=1

Germany's BaFin has approved all banks to allow Bitcoin to Euro ATMs so maybe your country will soon have them?

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June 14, 2018, 04:27:40 PM
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I can confirm that the Bitcoin ATMs I have seen are all from the General Bytes unidirectional ATMs for buying Bitcoin, not for selling as you seem to require. There is this documentary in Dutch that showed both so maybe you can glean the location for bidirectional ATMs, called BAMThree. https:/[Suspicious link removed]/lIxqMZ7bsd?amp=1

Germany's BaFin has approved all banks to allow Bitcoin to Euro ATMs so maybe your country will soon have them?

I know that Germany actually USED to have BTC ATMs many years ago when it still was more unknown and rather unregulated. But then authorities stepped in and slowly shut down these few ATMs one after another. So yea, now all we can do is wait for the state to officially allow them.
All I can find about BaFin is just a statement by the current president of it but nothing official, no changes.

I'll check out the documentary thank you!
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June 14, 2018, 05:14:44 PM
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... So yea, now all we can do is wait for the state to officially allow them.
All I can find about BaFin is just a statement by the current president of it but nothing official, no changes.

I'll check out the documentary thank you!

Bitcoin ATMs are already allowed if you have a banking license from the BaFin.
Buwaytress is completely right.

If you don´t believe him or me, just check out the following article from a few days ago:
https://www.trustnodes.com/2018/06/05/german-banks-right-exchange-bitcoin-ethereum-euros-atms-says-regulator

Quote
Germany’s FCA, the Federal Financial Supervisory Authority (BaFin), has clarified that banks have
the right to offer bitcoin or eth to euro exchanges on ATMs.

Quote
“Each institute, which has permission for proprietary trading, also has the right to set up machines
that allow the exchange of Bitcoin in euros and vice versa. So far it is not known that this was done.”

The problem seems to be at the moment that many start-ups, who would be willing
to operate a few ATMs, do not have a BaFin banking license. Meanwhile the banks,
who do have a valid banking license, have shown no interest so far in offering this
kind of service.

We can just hope that a bank sees the potential in the idea of Bitcoin ATMs and starts to offer cryptocurrency
transactions at their ATMs. Given the fact that banks are currently having problems to generate profits
due to the low interest rate level, they should really explore new opportunities like this.

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June 14, 2018, 07:42:10 PM
 #8

I can confirm that the Bitcoin ATMs I have seen are all from the General Bytes unidirectional ATMs for buying Bitcoin, not for selling as you seem to require. There is this documentary in Dutch that showed both so maybe you can glean the location for bidirectional ATMs, called BAMThree. https://t.co/lIxqMZ7bsd?amp=1

Germany's BaFin has approved all banks to allow Bitcoin to Euro ATMs so maybe your country will soon have them?
Wait, ATM's are to withdraw our money, for payments and buying something, we already have bill payment machines. Well, at least in my country we can buy bitcoin with some bill payment machines, not from ATM's.
Samarkand
Banks can set higher fees on bitcoin transaction withdraws and still have people because a little bit monopoly, there is a potential of good profit but in a good manner. You have to let people withdraw anonimously if you are looking for stable profit, otherwise your ATMs will be for some fanatic people. Why? Because serious people prefer to exchange with very low fees and have money on their cards.

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bittoc222
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June 19, 2018, 01:30:12 AM
 #9

So the situation seems pretty bad...
The only ATMs available without full-on identification/verification are only allowing to buy but not to sell?
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