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Author Topic: How do Bitcoin ATM's work?  (Read 108 times)
Drysprinkles291 (OP)
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November 12, 2018, 03:33:21 AM
 #1

Does it just print out a paper wallet? Tired of waiting for my bank to take two weeks to send money to my exchange. Has anyone got experiences of these ATM's?
mudyak99
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November 12, 2018, 04:01:26 AM
 #2

Does it just print out a paper wallet? Tired of waiting for my bank to take two weeks to send money to my exchange. Has anyone got experiences of these ATM's?

You can scan code to get the private key and then you can use the private key to gain access to  bitcoins you've bought
OmegaStarScream
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November 12, 2018, 06:14:59 AM
 #3

The process may vary from an ATM to ATM but it usually they scan the QR code of your receiving address from your phone so the funds will be directly sent to your wallet and you don't need to import or sweep them.

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NeuroticFish
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November 12, 2018, 09:18:52 AM
 #4

I've bought Bitcoin in the past from an automated machine. It was a multi-purpose machine (you can pay your utilities on it and many other things).

It certainly didn't create/print a paper wallet and I think that it should not do that - there can arise questions whether the private keys of those paper wallets are actually private, since such a machine has to log its operations in case anything goes wrong.
I had to enter (type!) the wallet address where I want my new Bitcoins to be sent. It accepted full address or shortened ones, but I don't remember right now what was the accepted address shortener.

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November 12, 2018, 10:41:25 AM
 #5

It varies from machine to machine but the process is pretty similar for most of them.
Have a look at these youtube videos to see how to use one.

https://www.youtube.com/watch?v=19tVcU4rZrU
https://www.youtube.com/watch?v=xajKjxxRL04

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