Crypto-Atm

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Drunkmunky
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Joined: Fri Jun 16, 2017 7:52 pm

Crypto-Atm

Post by Drunkmunky » Tue Jun 27, 2017 6:49 pm

Today was my first time depositing cash into my blockchain wallet. First, I had to find an ATM. Unfortunately, in Vegas we only have a handful of them around the Valley. I ended up at my first location. Stephanie @ 215. Sin city Vapor. I walked through he door with a fat wad of $20 bills I had just taken out of my Citibank account.

As soon as I walked through the door, I saw the blank screen on the ATM. This upset me. I asked the clerk, "is this your bitcoin ATM?" She said, "yes and I'm sorry it's broken, I've been trying to call them all day!!" I groaned and wished the lady a good day. Luckily, there was another location right at the corner of Eastern and the 215. This time I was in luck!

The ATM first asked me for a phone number. It sent me a text message with a code that I had to enter into the ATM to verify my identity. I entered the code, then it asked me to scan the barcode on the back of my driver license. Finally, before depositing my $600 in cash, it asked me to scan my wallet QR code. I shoved the $20 bills into the ATM, got my receipt, and left the building.

My shock was when I checked my wallet balance. I sent $600 and only got $555 in my blockchain wallet. $45 to deposit the money?

Oh well, I'll make it back in a couple days with BTCCLOCK. 🤘
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BTCKing
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Re: Crypto-Atm

Post by BTCKing » Fri Jun 30, 2017 2:08 pm

That looks like a pretty easy way to get money into your Bitcoin wallet. Asking for your phone number and having to scan your drivers licence seems like a lot of information that they Don't need. So much for being anonymous when conduction your transactions. Not sure if I like that or not. Seems like it worked well for you other then the rather large transaction fee.
You can't deposit excuses!

Darryll DiPietro
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Re: Crypto-Atm

Post by Darryll DiPietro » Fri Jun 30, 2017 6:07 pm

Those are huge transaction fees. I think I will stick to Coinbase
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Darryll DiPietro
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Re: Crypto-Atm

Post by Darryll DiPietro » Thu Jul 13, 2017 1:28 pm

I just found one on Sahara and FT Apache, located in a candy store
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BitBroPro
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Re: Crypto-Atm

Post by BitBroPro » Thu Jul 27, 2017 9:54 am

wow man, 7% transaction fee?! that's brutal. Well, in all fairness Coinbase and the like aren't that far off.
These atm machines are an interesting thing and I've even used CoinATM Radar, an app available on Apple/Google Play. My research shows some owners reaping in 20-30k per month which means that there IS value...but to a person like me that is all electronic and carries no cash, it doesn't make much sense. Plus there's security, insurance, market research... That's alot of overhead and expense. BUT, they sit there and make tyou money so maybe it's worth it. :lol:

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