Paper Bitcoin wallet "with" ATM?

[BurningChrome]

Well hello boys and girls!

What are the options for turning a paper Bitcoin wallet with 2 QR codes into cash at a bitcoin ATM without first moving the funds to a digital wallet?

The idea is to create a paper Bitcoin wallet, put bitcoin into it at a Bitcoin ATM, and then redeem it for cash in the future at a second Bitcoin ATM, without using an online wallet that could potentially expose my personal information. Or something like that.
Is that possible?

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[OmegaStarScream]

AFAIK, you can't sell BTC with a printed private key. Most ATMs require sending bitcoin to an address. Why don't you simply send the funds to a personal non-custodial wallet and then whenever you decide to sell the BTC, you can do it at the ATM? You won't be exposing any personal information this way unless, of course, you decide to buy or sell a large amount of money, in which case the ATM will ask you to pass KYC.

[Upgrade00]

The idea is to create a paper Bitcoin wallet, put bitcoin into it at a Bitcoin ATM, and then redeem it for cash in the future at a second Bitcoin ATM, without using an online wallet that could potentially expose my personal information. Or something like that.
Is that possible?

How do you plan to "redeem" a Bitcoin wallet for cash? This would only be possible if you give the ATM providers access to the private keys, or they created it themselves (and you never owned it, similar to how centralized exchanges work). This doesn't sound like an outlet which an ATM provider would want to create.

To protect your privacy, you can run your own full node and transfer your funds over an airgapped device which never goes online.

[Charles-Tim]

The idea is to create a paper Bitcoin wallet, put bitcoin into it at a Bitcoin ATM, and then redeem it for cash in the future at a second Bitcoin ATM, without using an online wallet that could potentially expose my personal information. Or something like that.
Is that possible?

You just want to spend part of the coins in a way your private key is not imported on an online device or probably because you still want to be making use of the paper wallet and you want to spend the coins presently controlled by the private key of the paper wallet and you do not want the private key online but to remain completely offline, you can follow this guide:

You can learn how to setup an Electrum cold storage and watch-only wallet which can be used for it.

How do you plan to "redeem" a Bitcoin wallet for cash? This would only be possible if you give the ATM providers access to the private keys, or they created it themselves (and you never owned it, similar to how centralized exchanges work). This doesn't sound like an outlet which an ATM provider would want to create.

Exactly, which is not possible, any ATM that demands for private key will even be for scammers and this has never happened before because ATM are not easy to setup. Seed phrase and private key must be private and remain known to only the owner.

To protect your privacy, you can run your own full node and transfer your funds over an airgapped device which never goes online.

Running full node or pruned node on Tor can help in privacy but this is not about privacy, this is about how to spend bitcoin in a way the private keys does not go online.

[FatFork]

<snip>
Is that possible?

I'm afraid that's not possible, imho. Simply put, you can send bitcoins to your paper wallet, and keep it there for as long as you like. However, if you wish to spend or exchange Bitcoin for fiat (cash), you'll have to import (or sweep) your private key from the paper wallet into your software wallet so that it can be used to sign and broadcast the transactions. I don't see any other way.

[NeuroticFish]

What are the options for turning a paper Bitcoin wallet with 2 QR codes into cash at a bitcoin ATM without first moving the funds to a digital wallet?

The idea is to create a paper Bitcoin wallet, put bitcoin into it at a Bitcoin ATM, and then redeem it for cash in the future at a second Bitcoin ATM, without using an online wallet that could potentially expose my personal information. Or something like that.
Is that possible?

The problem is that this is not something you can do on the side of the paper wallet, it's something that has to be done on the side of the ATM.
I guess that it wouldn't be that difficult to add a "sweep" feature to the ATM, so it sends the money from paper wallet to the operator's address and then continue as it does now.

So I guess that all you have to do is:
1. Convince ATM producers add such a feature.
2. Make sure your printed paper wallets have a QR code with the private key.


All in all, until the moment ATMs will have such a feature (which I don't expect to be too soon, if ever) I suggest you start writing down HD seed instead of private keys. It's less prone to mistakes.

[hugeblack]

Is that possible?

What you are looking for is not a Bitcoin ATM machine, but how to hide yourself. For example, to verify that you are the owner of that coins, you must search for the address with any block explorer, which means that your IP address can be collected.

+ It is wrong to trust the private key that was printed by the machine, they may keep a copy of it and therefore you and that ATM (or anyone who has access to its database) owns that money even though you paid for it.

Your best solution is to send those coins to a new address and learn to increase your privacy with Bitcoin.