Finally used a bitcoin ATM successfully!

[Steamtyme]

Hey man good on you. Trying something new.. again after a negative experience and getting out for some exercise is a big win. I've never bothered with the ATM's and likely never will. There are probably 20 or so within a few hours of me in the larger cities I frequent. It's just the damn fees that are crazy. If the meetups I was attending fire up again as Covid dies down a bit - here anyways - the organizer has a fleet of them. He does offer us a discount to buy through it - or just to do some direct deals with him at a decent rate.

Truth be told though is I can generally purchase BTC from 2 reliable spots with my Fiat easier and with 0 fee or significantly less fee.  The beauty of these machines are that you can in theory pay that premium to get your coins in an anonymous fashion. The SMS verification can throw a wrench in that but all the operators machines are different.

I am curious about 2 things though
1) Did you notice any scam prevention documentation on or around the machine??
2) Did you grab a pack of zigzags  

[MCobian]

Thank you for sharing your experience using Bitcoin ATM, unfortunately in my place there is no Bitcoin ATM yet. I always hope to
feel using Bitcoin ATM too, even though the fees is expensive I will still try it. Most importantly I can feel directly how it feels
a transaction using Bitcoin ATM. Hopefully in my country there can be at least one Bitcoin ATM, so I can try it.

[bakasabo]

Hey The Pharmacist, congrats on buying an awsome bike, making your first purchase of bitcoin via ATM.

I'm interesting to know about this black circle object above the screen. Seems like a camera, 100% sure of that. This means your were taken picture/recorded. Does it means your personal info now is held come where? Can it be possible now to match your phone number (you got an sms) with your face and reveal your identity to security service ?

[kryptqnick]

I'm glad to hear that BTC ATM experience can be simple, but the fees are killing me! Paying $50 with $10 of those going on fees - that's just crazy 20% fees there. And I thought that around 10% in fees was common for ATMs but still too much. I agree that the fees should get reasonable for more people to use such ATMs. I usually buy BTC online on local exchange websites and spend about 5% on all the fees with getting my fiat when I'm selling BTC in about 20 minutes (sometimes up to an hour). But even this is quite a significant fee (at least, in my country) because transfers in fiat usually involve around 1-2% in fees, not 5% or 10%... And this means that Bitcoin kind of loses to fiat transactions here which doesn't make it attractive to newbies.

[buwaytress]

Hey Pharma, didn't realise your location until I saw this thread, always assumed (don't know why) you were across the pond. Anyway

@Kakmakr I used to think that the exorbitant fees meant no one would ever use BATMs but I've been proven wrong by their proliferation and from user stories I'm now reading more and more of. The convenience of them in the US anyway (especially for selling) means it's a legal and easy way for most people in the Bitcoin economy (as earners) can liquidate. The cost seems negligible I guess when you're paying $10 for $100 (not for me but for the ones I've spoken to anyway!).

Also curious what the limit is. Until a couple of months ago, where I am you could apparently use it for EUR 1,000 without KYC. On some, the limits were even listed as EUR 5,000 but I think the government is cracking down on AML5D compliance (which it should have even by January!). The days of Bitcoin selling for thousands of euros easily is gone now.

Oh and I second the sticker idea. We should start something seriously with them stickers.

@amishmanish long time no see;)

[Chris Barth]

This is amazing! I so wish that I could use one but it's quite unfortunate that the closest bitcoin atm is like a day drive away from my location. However, I know that someday, they'll be more and I can get to use it whenever. Congratulations on that feeling!

[AniviaBtc]

Congratz @The Pharmacist you're not BTM virgin anymore  Coincloud has one of the higher fees btw.
@o_e_l_e_o with this issuer the limit is up to $2000 you need a phone number. For anything above (and up to $10k per day) you need to scan your ID. To compare, with Shitcoins.club they can buy up to €10k without ID

I envy you @The Pharmacist, i don't know any BTM that exist here in my place, even those urban areas that includes huge establishments doesn't have this BTM.

For me, I don't care if the fees are high, the only important thing for me is to experience the convenience of using BTM.

Hoping that this BTM should spread more globally so that people who are using bitcoin will not have a hard time to use exchange. This global adoption should be improve more so that even those people who are in a hidden place or province should also access this BTM and know its importance and learn how it works.

[Lucius]

Very nice story, maybe this would be a good template for an article on how BTC users are environmentally aware and go to crypto ATM by bike🚲

I personally have never been in need or able to try crypto ATM even though there are several in my country (none in my place), given that I have much better options (cheaper) to buy or sell BTC. Personally, I think the fees are too high for this way of buying BTC (perhaps the biggest of all ways), but I think it will change when the competition gets bigger in this business segment. Still, the USA has a higher concentration of crypto ATM than anyone in the world, but considering that it is a very large country, I don't think that even twice as many would meet some average needs.

[stompix]

Ok, you lost me at pedaling and e-bike   as quite the opposite to you I've never had a bike since I was a kid nor I feel the need for it, but back the ATM...

But two questions:
You paid 20% in fees because there is a minimum fee like some ATMs have, and if you would have bought let's say 200$ worth of bitcoin the fee percentage would have been lower? Also, how much did they pay in tx fee if you still have the tx id? I'm really curious if they didn't go overboard and pay something like 100sat/b charging you and extra 2-3$ for almost nothing.

This is amazing! I so wish that I could use one but it's quite unfortunate that the closest bitcoin atm is like a day drive away from my location. However, I know that someday, they'll be more and I can get to use it whenever. Congratulations on that feeling!

I have something like 10 or 15 of them in that range but trust me, once you check the fees they charge you for occasional buying or selling, if you are not that keen on privacy you will go the traditional way of buying from an exchange.

[Bitstar_coin]

Let me first congratulate you on that machine you got there, looks very appealing i can only imagine the feeling riding on that bike, looks cool and i love it is black,
and as for using a btc atm, haven't use one before and i don't think am eager to use one judging from the high transaction fees being charged, i guess this is as a result of btc atm are very limited at present, maybe when they are everywhere the charges will be reduce. for now, i will stick with the normal way of buy btc.

[o_e_l_e_o]

Like I said, I had to receive an SMS text from them in order to proceed so a cell phone was definitely required.

Shame! I'm always on the look out for completely anonymous ways to buy and sell bitcoin. Still, a burner phone is easily acquired so this is still a viable option.

I got from their faq that;

The limits to purchase/sell Bitcoin are a limit of $2,999 per transaction and $10,000 per day with a verified account. To verify your account, you will need to submit a valid driver's license or passport book.

Yeah, I saw that too, but I was curious to know how much you could buy without a verified account.

@o_e_l_e_o with this issuer the limit is up to $2000 you need a phone number. For anything above (and up to $10k per day) you need to scan your ID.

Ahh, perfect. Do you know if that is $2,000 per day, or a lifetime limit of $2,000 per unverified phone number?

[LeGaulois]

@o_e_l_e_o with this issuer the limit is up to $2000 you need a phone number. For anything above (and up to $10k per day) you need to scan your ID.

Ahh, perfect. Do you know if that is $2,000 per day, or a lifetime limit of $2,000 per unverified phone number?

$2,000 lifetime per phone number, but you can always bypass the limitation by buying Lyca mobil SIM card (you can use it about 2 weeks before to be forced to send your ID to continue to use but in UK and NL there is no such, and users sell them here), a virtual phone number or anything else. The nightmare starts when the machine needs to scan your ID.

[Emitdama]

The idea of Bitcoin ATM is really cool, but I don’t know if I’m ever going to make use of them. There is one that I know, but it’s very far from where I live that I will even have to take transport and not just a bike lol . And the high fees is something else that makes me feel like it’s not really worth it.

Why would I be paying high fees for just to buy Bitcoin when I can do that right in my room using my smartphone? So I don’t see the need for it. But like I said, it’s something cool, maybe those that likes it can continue making use of it or if I want to use it, would be just for fun.

[kawetsriyanto]

Nowadays it will be even more interesting when many stores provide BTC ATMs to become one of the payment media options. Maybe that is one of the obstacles that is related to relatively high fees. However, if this has been explained just before the purchase, then of course the user has chosen and is aware of how much the fee is spent. So far, I personally have never tried using BTC ATM because it is very difficult to find it here ..

[20kevin20]

Congrats for using an ATM for the first time! Feels great, doesn't it?

In Romania we still have some ATMs that let you purchase at 0% commission/fee - basically at spot price. There are only few that let you do so, but I believe there are many around Europe that have zero commission as well. But unfortunately, most ATMs do have annoying commissions especially if you want to sell your coins.

$2,000 lifetime per phone number, but you can always bypass the limitation by buying Lyca mobil SIM card (you can use it about 2 weeks before to be forced to send your ID to continue to use but in UK and NL there is no such, and users sell them here), a virtual phone number or anything else. The nightmare starts when the machine needs to scan your ID.

Unless this is written in their terms and conditions, I would not try to make use of multiple mobile numbers in order to bypass it. Some ATMs verify each transaction manually, live - and take a snapshot of your face while purchasing/selling. That means if you go to the same ATM with 3 different phone numbers, chances are they'll find out you seem to be a familiar face and you may have a little big unpleasant surprise (KYC).

It's a shame the limit is not per day but a lifetime one. Same goes for purchasing precious metals in Europe right now; there is a lifetime purchasing limit before you are asked for documents that's been introduced.

[Axelseseclevz]

Wow! Very interesting ,i can't wait the time that i can also use bitcoin atm here in our country. But the transaction is still anonymous or not once you use the machine?

[20kevin20]

Wow! Very interesting ,i can't wait the time that i can also use bitcoin atm here in our country. But the transaction is still anonymous or not once you use the machine?

In order to be 100% anonymous, that means you'd have to hide yourself from all the security cameras surrounding the ATM, to hide your face from the ATM's camera, to refuse any kind of verification such as phone numbers (although you could use a burner phone) or ID card scanning and to send BTC to an unused address that you will not link with your other existing ones (Coin Control or just generate a new wallet).

So achieving 100% anonymity when purchasing from ATMs is pretty hard and hiding from the cameras would probably trigger a mandatory KYC procedure especially if txs are manually verified as I said a post above yours.

You could, however, try to at least avoid both any kind of identification and linking your purchased BTC to your other addresses. Most ATMs have a camera strategically placed so that it could take a shot of your face while purchasing anyway. And if you wish to further improve your privacy, after purchasing you could also use a mixer to make it harder for any bad actor to follow your tracks and identify you.

[yazher]

I always wanted to try to withdraw my BTC using the ATM machine, so that I can post here my experience but there's no luck. Our City is not that popular for a Bitcoin ATM machine to be installed here. Finally, you made it! you've tried it.

I just have one question regarding the machine, in our country we don't have an ATM where you can deposit money all you can do is to withdraw on them. If ever someone will install that kind of ATM in our city in the future, will they not remove the deposit features of that ATM?

[k@suy]

I always wanted to try to withdraw my BTC using the ATM machine, so that I can post here my experience but there's no luck. Our City is not that popular for a Bitcoin ATM machine to be installed here. Finally, you made it! you've tried it.

I just have one question regarding the machine, in our country we don't have an ATM where you can deposit money all you can do is to withdraw on them. If ever someone will install that kind of ATM in our city in the future, will they not remove the deposit features of that ATM?

I felt envious. I really wanted to try this ATM machine but here in my country that is really imposible because our country does not support any activity, business or agendas regarding on crypto currency because our does not supports crypto currency yet and they are still depending on the traditional way of using fiats.

[klavyemaus52]

Looks good !
Im living in Turkey and we do not have anything about bitcoin yet. Government is just ignoring it.
I hope we can get this atm here.