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Author Topic: ATMs printing paper wallets  (Read 1206 times)
remotemass
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October 02, 2014, 03:59:01 AM
Last edit: October 03, 2014, 06:54:18 AM by remotemass
 #1

Is there any ATM that has the option of printing a paper wallet in advance?
I think this would be a great feature for ATMs. Maybe they could be set to print a maxium of 5 or 6 paper wallets per hour so that no one would abuse that feature but it would be a free service.

Even better would be if the private key would come hidden as part of a scratch card. This would make them look much better and make them much more secure.

Would be great there was a torrent file of all referenced materials of the paper: "How to Build Time-Lock Encryption" by Tibor Jager. And having its magnet link published on bitcoin blockchain!
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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cbeast
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October 02, 2014, 04:05:24 AM
 #2

The only paper wallet you should take from anyone is one you can sweep into your own wallet. Never trust your keys to a third party. One exception is using a scheme that creates an encrypted wallet where the third party never sees the private key.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
chenka563
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October 02, 2014, 04:21:04 AM
 #3

Havn't see this type  ATM that has the option of printing a paper wallet. but if the private key would come hidden as part of a scratch card,that How to ensure the safety,when  you accidentally lost  your paper wallet.

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October 02, 2014, 04:29:02 AM
 #4

Havn't see this type  ATM that has the option of printing a paper wallet. but if the private key would come hidden as part of a scratch card,that How to ensure the safety,when  you accidentally lost  your paper wallet.
You shouldn't hang onto a private key given to you by a third party. You need to send the amount to your own created wallet just in case the company that sent it goes bankrupt and someone steals your money. It's like getting a private check and hanging onto it instead of cashing it in.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
25hashcoin
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October 02, 2014, 04:36:09 AM
 #5

Havn't see this type  ATM that has the option of printing a paper wallet. but if the private key would come hidden as part of a scratch card,that How to ensure the safety,when  you accidentally lost  your paper wallet.
You shouldn't hang onto a private key given to you by a third party. You need to send the amount to your own created wallet just in case the company that sent it goes bankrupt and someone steals your money. It's like getting a private check and hanging onto it instead of cashing it in.


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Mr Tea
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October 02, 2014, 07:03:19 AM
 #6

Is there any ATM that has the option of printing a paper wallet in advance?
Quote

What do you mean in advance? There are some ATMs that give you the bitcoins on a paper reciept as a QR code. Not sure which models do that but there's at least two that do it.

lihuajkl
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October 02, 2014, 09:37:42 AM
 #7

The ATM is online and controlled by the operators. It is not secure enough to create cold wallet through them. But in terms of usability, I would like to transfer my little bitcoin to the printed paper wallet.
cbeast
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October 02, 2014, 10:20:31 AM
 #8

The ATM is online and controlled by the operators. It is not secure enough to create cold wallet through them. But in terms of usability, I would like to transfer my little bitcoin to the printed paper wallet.
They can be designed to print secure cold wallets, but are not there yet.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
Clegg
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October 02, 2014, 10:37:10 AM
 #9

If the ones do print out paper wallets it'll only be a matter of time before criminals target these atms with tiny cameras to scan the code automatically. They do it on fiat atms to get your pin so they can do it with bitcoin ones too.
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October 02, 2014, 10:44:31 AM
 #10

If the ones do print out paper wallets it'll only be a matter of time before criminals target these atms with tiny cameras to scan the code automatically. They do it on fiat atms to get your pin so they can do it with bitcoin ones too.
That's why I suggested using secure cold storage wallets so a camera only gets an encrypted key.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
CoinATMRadar
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October 02, 2014, 02:57:25 PM
 #11

Is there any ATM that has the option of printing a paper wallet in advance?
no, and it is not clear what for this is needed?
If somebody just wants to generate a bitcoin address without installing any wallet software - then why it is related to Bitcoin ATM at all?
In your scenario - this person will not buy from the ATM, just generate address, take this printed receipt and walk away with this paper wallet.

Second, even if such a feature will be introduced in ATMs say for some fees. But the security as mentioned above will definitely be compromised at some moment. You should not trust any external service to generate private keys for you, either it is some site, ATM or anything else.

This is why whenever you purchase from Bitcoin ATM not to your address directly - it is recommended to do this asap and not storing funds on the printed address.

Even better would be if the private key would come hidden as part of a scratch card. This would make them look much better and make them much more secure.
ATMs definitely can not produce scratch cards. So they will be created somewhere else and then have to be filled in the ATMs. All this adds one more chain that can be compromised.

Looking for BITCOIN ATM close to you? Check Bitcoin ATM Map from CoinATMRadar.
toleng
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October 03, 2014, 04:15:17 AM
 #12

If the ones do print out paper wallets it'll only be a matter of time before criminals target these atms with tiny cameras to scan the code automatically. They do it on fiat atms to get your pin so they can do it with bitcoin ones too.
That's why I suggested using secure cold storage wallets so a camera only gets an encrypted key.
You would still need to trust the ATM operator to not steal your private key as they would be the one who would generate the paper wallet. You would also need to enter the password at the ATM so the ATM knows what password to encrypt the paper wallet with, and a criminal could have a camera looking at the keypad to see what is entered
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October 03, 2014, 04:55:04 AM
 #13

If the ones do print out paper wallets it'll only be a matter of time before criminals target these atms with tiny cameras to scan the code automatically. They do it on fiat atms to get your pin so they can do it with bitcoin ones too.
That's why I suggested using secure cold storage wallets so a camera only gets an encrypted key.
You would still need to trust the ATM operator to not steal your private key as they would be the one who would generate the paper wallet. You would also need to enter the password at the ATM so the ATM knows what password to encrypt the paper wallet with, and a criminal could have a camera looking at the keypad to see what is entered

IF someone wants your cash, someone will get your cash. If God wants it not to be yours anymore, he will get it from you in an instant.
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October 03, 2014, 06:28:49 AM
 #14

The main idea of the paper wallet was to not involve your private keys with any technical support. So I don't get the idea why people want to print it out of the atm making it easier for the hackers.

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October 03, 2014, 06:44:32 AM
 #15

Perhaps the OP is concerned that people need a smart-phone to present the ATM with a QR code.

This is simply not true. You can generate your own QR code on your computer and print it.
Even better: the private key does not even have to be on the same continent. This reduces the opportunity for theft.

James' OpenPGP public key fingerprint: EB14 9E5B F80C 1F2D 3EBE  0A2F B3DE 81FF 7B9D 5160
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