bit coin atms better way for privacy?

[betswift]

Some bitcoin ATMs requires you to verify your government issued IDs to be able to make a purchase, this is the reason, we sax that bitcoin ATMs are like banks so you can't say that you are looking for privacy and the reason you don't want to use bank transfer, so using ATM is almost same as what you are running from.


P2P as suggested by other forum members os the best way to go, if you don't use fully decentralized exchanges.

..But as it was said by the OP, he doesn't want the P2P either

[OrangeCoinGood]

With this, there is no anonymity in such system as you are looking for.

Again, not true.  I bought btc yesterday at an atm without KYC at around 5 percent.

It depends where OP is, but as a blanket statement, what you said is simply not true.

[nemesis_incarnate]

With this, there is no anonymity in such system as you are looking for.

Again, not true.  I bought btc yesterday at an atm without KYC at around 5 percent.

It depends where OP is, but as a blanket statement, what you said is simply not true.

So it only asks for the funds and the address? And it should be depending on the sum in question, probably..

[Mpamaegbu]

Another way to buy bitcoin is through p2p if you have the patience to wait for the other party for the p2p.

It doesn't take much to get a P2P exchange. All you've to do is choose the wait window you want and pick a merchant who is willing to deal on that timeframe. I usually go for merchants on 15 minutes window or at most 30 minutes, depending on the rates they're offering. 60 minutes window is way out of it for me. I might forget I'm dealing with someone after I activate trade and that's why I avoid the 60 minutes timeframe.

Yes, I know that most of the merchants complete their deals before time elapses. I've picked a merchant in the 30 minutes frame and we concluded our deal within 5 minutes. I'm just letting you know P2P doesn't really linger that long.

[betswift]

Another way to buy bitcoin is through p2p if you have the patience to wait for the other party for the p2p.

It doesn't take much to get a P2P exchange. All you've to do is choose the wait window you want and pick a merchant who is willing to deal on that timeframe. I usually go for merchants on 15 minutes window or at most 30 minutes, depending on the rates they're offering. 60 minutes window is way out of it for me. I might forget I'm dealing with someone after I activate trade and that's why I avoid the 60 minutes timeframe.

Yes, I know that most of the merchants complete their deals before time elapses. I've picked a merchant in the 30 minutes frame and we concluded our deal within 5 minutes. I'm just letting you know P2P doesn't really linger that long.

Those merchants who are good won't wait for that long, because lots can happen between the frames in question, and we all want to get the deal done as soon as possible.

[Helena Yu]

The only way I see is either using Bitcoin ATMs or Face to Face.

Using no KYC P2P or DEX aren't good in this situation, you're still using banks or payment processors, so the centralized institutions knows the inflow and outflow of your money.

Personally, I would rather to not really anonymous (I will let them to track my money) as long as I'm safe.

Using ATMs will cost me too much, while Face to Face, it would risk my life.

[nemesis_incarnate]

The only way I see is either using Bitcoin ATMs or Face to Face.

Using no KYC P2P or DEX aren't good in this situation, you're still using banks or payment processors, so the centralized institutions knows the inflow and outflow of your money.

Personally, I would rather to not really anonymous (I will let them to track my money) as long as I'm safe.

Using ATMs will cost me too much, while Face to Face, it would risk my life.

If the funds in question aren't that big - then one may be willing to give the institutions the info they need , but you never know when they would become more interested in your persona.

[Z-tight]

If you use the p2p option, you are obviously going to send funds from your bank account to that of the seller, however, your bank would not know what the transaction is for, and it would simply be a normal transaction, sending money from X to Y, and then you receive your BTC in your wallet.

However, if you do not want your bank involved in the transaction, you have to trade face to face, and you can set up a face to face trade in an exchange like bisq, but make sure you meet in a neutral place and be careful too.

[Mpamaegbu]

~snipped~

Those merchants who are good won't wait for that long, because lots can happen between the frames in question, and we all want to get the deal done as soon as possible.

No, it's not about whether they're good or not that makes them choose a longer timeframe. I want to believe they must have their reasons beyond that. That's not even how to sieve the scammers from the list. Merchants who are fraudulent are even the ones who will choose short timeframe. I've had near nasty experiences with merchants who tried to swindle me and they all were within the frames I like dealing with. Now I know how to sniff out P2P scammers from afar.

[Agbamoni]

As many have already stated in this thread, ATM were a very good privacy oriented ways of having Sats.
Now things have substantially changed.
There are difference across the various legislations in the world, but some sort of KYC is mostly required.
So, if large spreads were once tolerated because of it was a privacy preserving way of acquiring Sats, today they are almost unjustified.

The relevance of ATMs will continue to fade if they don't bring back privacy focused models in regions that are compliant. Why will I pay an 8-15% premium in transactions when I wont get the full privacy I wanted.

I have always seen Bitcoin ATMs as a red flag since it originated, because as long as it is public service owned by some government institutions they will want to impose regional regulation on it which limits privacy.

[Z-tight]

The relevance of ATMs will continue to fade if they don't bring back privacy focused models in regions that are compliant. Why will I pay an 8-15% premium in transactions when I wont get the full privacy I wanted.

BTM operators have to comply with regulations, just as crypto exchanges and other CASP's have to do too, if they fail to do so, the government will shut them down and the operators may be arrested and charged for money laundering or financing terrorism. However, there are different kinds of kyc verifications on BTM's, some are basic, and some are more serious, depending on the funds involved.

The high fees have nothing to do with complying with regulations, they probably charge high fees due to maintenance costs and other expense required to keep the BTM functioning.

[leonair]

Bitcoin ATM does not give us any privacy because the ATM will be a centralized means of cashing out money from Bitcoin to fiat. So when you use an ATM, there is a transaction record and also a CCTV camera to protect the ATM money, and also a security guard like another ATM system from a local bank. so if we can get a chance to use ATM for bitcoin cash out to fiat then there has a advantage to cash out bitcoin as a legal way and safely but it will not maintain our privacy. as a bitcoin user I like freedom and I alwyes want to keep my bitcoin holding and transaction hidden so I will not like ATM for withdraw bitcoin in fiat currency.

[Zigabel]

hey guys,

sorry if this is the wrong area to post. please advise me where to post or move this post if its in the wrong area.

I'm looking for a way to turn cash into bit coin as i don't want my bank transfers tracked. atm i use bitcoin atms. but the price difference is huge there is at least a 20 percent loss from the market value for using this way.

im in australia, is there a easier way to get bit coins annon like using a atm to get bit coin that i dont know about? or i do i just have to face this is the price to pay for buying bit coin and making it untraceable from my bank?

im very private and secure with what i do and don't want to use exchanges, as i know its the best way right now.

You need to be aware that even Bitcoin transactions that appears anonymous are at some point very much traceable? buying Bitcoin with many link that gets you to transferring money or using your card can be tracible, so the only way you can really acquire Bitcoin without what looks like a tracible links is by been gifted or even by bounties and rewards from signature campaigns from the forum. I don't know about your country but I know in some other countries there are Bitcoin atm where you can purchase Bitcoin but then that is also tracible because you will be using your bank cards from which you can still be traced so if you want to invest in Bitcoin i advised you bother more on making profits on your investment and then making sure you get the most from Bitcoin and not delaying because you wan to stay anonymous owning Bitcoin.

[Josefjix]

If you are using bank transfer to conduct p2p trade then you are going to be sure you dont include crypto or other blockchain word in your transaction description for you privacy reasons, Since you are in Australia, using PayID for your transaction would be more easier and would even aid more towards privacy.

If that is not enough for you, then do face to face transaction with someone to send you bitcoin from his wallet while you go with an escrow if that would be allowed by the sender then you hand over the cash to him/escrow depending on the agreed rate.

[traderethereum]

I will suggest you to follow @asriloni suggestion and find people who lived in Australia and have Bitcoin so you can buy Bitcoin from them. That is the easy way for you to avoid the tracking because you pay the money directly to him. I don't recommend you use Bitcoin ATM. There will be a local seller who buy and sell Bitcoin directly especially if you can know them privately.

[Mrbluntzy]

If you can find someone in same city with you who is into cryptocurrency, you can do a physical p2p with them. You send the money to the seller without your bank knowing what the money was spent on and you won't be tracked. There's no way the bank are going to come knocking on your do so you explain whom you sent x amount to. I believe that physical p2p will do the job. Don't use Bitcoin ATM or centralized exchange because the exchange will require you to do KYC verification or link your bank card with could be detected by your bank.

[AYOBA]

hey guys,

sorry if this is the wrong area to post. please advise me where to post or move this post if its in the wrong area.

im looking for a way to turn cash into bit coin as i dont want my bank transfers tracked. atm i use bitcoin atms. but the price difference is huge there is at least a 20 percent loss from the market value for using this way.

im very private and secure with what i do and dont want to use exchanges, as i know its the best way right now.

The best way for you to turn your cash into a Bitcoin, since you said that you can not afford the Bitcoin ATM, is to use the Exchange will be easier to get your bitcoins without facing any problems, and you can even get them at an affordable price range compared to using the Bitcoin ATM method. That method won’t work for you the way you want it to be done.

Moreover, I can see that those that are experts in cryptocurrency have recommended you an easier solution to solve the issue of how you can turn your cash into Bitcoin without stressing yourself. I think the idea of exchanging your cash by applying physical P2P with the person you know in the cryptocurrency can work fast for you.

[PrivacyG]

One thing to consider.

If you are choosing the face to face way of purchasing Bitcoin, be extremely cautious about what the other party learns of you.  Make sure they do not get a chance to see where you live, who you may be et cetera.  Keep things short and simple.

The other party may seem interesting to you.  After all, you rarely find somebody who is truly interested in Bitcoin and even owns some.  Let the curiosity stand still in your mind and do not engage it.

This is all an advice for your own safety.  Cryptocurrency kidnaps and robberies are a thing.  If you choose the private Peer to Peer way, plan it well.

[Alphakilo]

im very private and secure with what i do and dont want to use exchanges, as i know its the best way right now.

 

Have you tried using Bisq? I don't know what the regulations is in Australia about this. Read it up first then try it. An alternative that involves some risk is a p2p with friends.

Do you have trusted friends that you know will not try to kidnap you if they learn of you wanting to do this, then request buy directly from them with cash while they send the equivalent to your Bitcoin wallet.

[adadrian]

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