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Have you ever used a Bitcoin ATM?
1545 sats \ 30 comments \ @riberet19 27 May bitcoin
The other day I bought Bitcoin for the first time at a Bitcoin ATM, this ATM is inside a store called Bitcoin Base which is relatively new in my city, at the ATM (I don't know if this machine can be called like that) you can also buy Litecoin and you can buy a total of up to €1000 per day or sell up to €1000 per day for fiat money.
The guy who ran the store told me that if I wanted to buy or sell larger amounts I should talk to him and we'd do it secretly in a p2p exchange, I didn't trust him very much at that time, the ATM rate was 10% (a little expensive) but knowing that I did not have to pass any KYC and that I bought it anonymously (or at least I think so) I liked the experience, have you ever used any of these machines?
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40 sats \ 1 reply \ @anon 27 May
Lots of times. Even the KYC ones aren't that bad because usually there's ways to get phone numers without actually doing real KYC.
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0 sats \ 0 replies \ @riberet19 OP 27 May
interesting, you mean using sims not linked to your name?
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41 sats \ 1 reply \ @0fje0 27 May
The guy who ran the store told me that if I wanted to buy or sell larger amounts I should talk to him
Exactly what happened to me too a couple of years ago. We ended up doing several trades, but when he moved to another country it became impractical. We're still in touch, though.
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21 sats \ 0 replies \ @riberet19 OP 27 May
This surprised me to tell the truth, it wouldn't be a bad idea, in your case, how much did he charge you as a commission? He told me that instead of 10% of the ATM he could charge me 6% or 7%
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85 sats \ 6 replies \ @grayruby 27 May
Many years ago. I paid a large fee and never did it again. Just wanted to try it out.
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71 sats \ 1 reply \ @gnilma 27 May
Have you check out the Bitcoin Well machines yet?
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42 sats \ 0 replies \ @grayruby 27 May
No not yet but I am interested in what Bitcoin well is doing so I will check them out.
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41 sats \ 1 reply \ @riberet19 OP 27 May
I understand, the same in my case, 10%, how much was it in your case?
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10 sats \ 0 replies \ @grayruby 27 May
I think it was similar, maybe a bit more even. It was four or five years ago. Hard to recall exactly.
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20 sats \ 0 replies \ @Satosora 27 May
Yeah, I looked at the machine and was about to do it until I saw the fee. And I was a bit scared it would go on an exchange and I wouldnt be able to pull it off.
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20 sats \ 0 replies \ @TNStacker 27 May
Same and it was KYC
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64 sats \ 1 reply \ @Jer 27 May
I have personally never used one.
We have them in every corner store in my smallish town. I did speak with the clerk at one of the store who advised the same guy uses his, everyday, but has never seen anyone else use it.
I know the spreads are high but there is a cost to privacy and many people don’t mind paying it.
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0 sats \ 0 replies \ @riberet19 OP 27 May
That's just what I thought when I paid the fee, which was the price for making an anonymous transaction.
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11 sats \ 1 reply \ @kristapsk 27 May
Once tested in Prague, for fun, at Paralelni Polis, during HCPP, sold some CZK for BTC there.
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1 sat \ 0 replies \ @riberet19 OP 27 May
Interesting, I liked the experience of buying without having to give any information and with cash.
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10 sats \ 1 reply \ @tomlaies 27 May
I think the idea is awesome but they're all shit. The kyc-free ones aren't kyc-free because they want your phone number and/or security cam pictures. Also high fees. Overall just disappointing.
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0 sats \ 0 replies \ @riberet19 OP 27 May
This is what I was referring to, that I didn't know exactly the transaction was completely anonymous, the security camera surely photographed me.
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10 sats \ 1 reply \ @BitcoinAbhi 27 May
No, I never used. I am from india. here is no such facility in India
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0 sats \ 0 replies \ @riberet19 OP 27 May
I understand, I think they are mostly in Europe and the US.
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10 sats \ 0 replies \ @ContraMundum 27 May
Haven’t used these machines but have used others just like it. Fees are high but for the ease and no KYC, I’m willing to buy Btc at higher fees to remain anonymous. But if the store clerk is a bitcoiner, you should at least have a convo with him to see what he’s doing?
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10 sats \ 0 replies \ @swami 27 May
I was going to but then I saw the 15% spread. Total rip off.
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0 sats \ 0 replies \ @Athena 28 May
Until recently, I even didn't know that such a thing existed on the earth. But, yeah I tried searching it for nearby me. But I've come to know from someone that there's not much enthusiasm about it in India. I tried bitcoinmaps and yes found out a few bit they are far from here.
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0 sats \ 0 replies \ @OT 27 May
In Australia the premium is also around 10% but it requires kyc. I keep seeing them everywhere so I think it must be boomers who are used to withdrawing cash from an atm.
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0 sats \ 0 replies \ @Satosora 27 May
I wanted to try this in taiwan, but the fees were way too high. I remember them being 30%.
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0 sats \ 0 replies \ @lv99slacker 27 May
There aren't any KYC free ATMs in my country, so no.
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0 sats \ 0 replies \ @cryotosensei 27 May
Singapore used to have such ATM machines, but they removed them, for fear of money laundering. Shame, I never got to use one.
I think it’s rare that you can get non-KYC sats, even from BTC ATMs these days.
Seems like the transaction fee has gone up since I wrote about BTC ATMs in Spain last August haha: Overtook El Salvador to be the country which has the 3rd-highest number of crypto ATMs (215 ATMs) in October 2022. You can buy BTC below 1,000 €uros without KYC from BTC ATM machines, especially in the south of Spain. The ATM fee is about 7.5%.
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0 sats \ 0 replies \ @WeAreAllSatoshi 27 May
Yes, I have. Mostly just for fun. It was expensive.
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0 sats \ 0 replies \ @IamSINGLE 28 May freebie
Yes, two years ago. It was fun to get 500 INR but now I regret because I did away more sats than I can now. I mean now I don't use them because I love My sats more and despise fiat.
0 sats \ 0 replies \ @itsMoro 28 May freebie
the ones ive seen say just need sms verification under $2k but creeped out by the built into machine camera staring at my face whole time...so havent tried.
0 sats \ 0 replies \ @andia 27 May
I used to buy quite a bit, but I switched to Hodl Hodl because of the fees that ATMs have.
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