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  • chosen4th
    SBR MVP
    • 12-29-12
    • 1106
    #1
    Bitcoin ATMs
    Just making this post for anyone thats ever been curious about Bitcoin ATMs. Ive used them for my past 3 withdraws and they are awesome if you live near one. I usually use coinbase, but with all the talk about the government interfering with them, ive tried to scale back using them. My local bitcoin ATM charges like 1.5%, which im pretty sure is cheaper than what coinbase charges for a sell. Cashing out 3k on the bitcoin atm costs me about 45, whereas coinbase would usually charge me about 60-65 atleast.. Yesterday i literally put money onto Betcoin.ag at 4pm, won a parlay for about 3k and got paid for it around midnight, had money in my pocket by 1am(i can get to my local BTC atm 24/7).. amazing how far payouts have come from the days of waiting 3 weeks + for a check.

    PS. Im talking about actual Bitcoin ATM Machines, not the Bitcoin Debit cards.. just incase anyone was confused
    Last edited by chosen4th; 03-02-17, 09:59 AM.
    Tags: None
    • Optional
      Administrator
      • 06-10-10
      • 61373
      #2
      Nice report. Thanks for sharing.

      What network is your machine part of?

      Do you have limts at the ATM?

      Do you need to call the company in advance for large amounts to be loaded?

      What ID did you have to supply?
      .
        Comment
        • chosen4th
          SBR MVP
          • 12-29-12
          • 1106
          #3
          Originally posted by Optional
          Nice report. Thanks for sharing.

          What network is your machine part of?

          Do you have limts at the ATM?

          Do you need to call the company in advance for large amounts to be loaded?

          What ID did you have to supply?

          This ATM ive been using is a Genesis coin ATM. There is a Bitlox ATM that is actually closer to me that im going to try out, but for going late night the other location is a little less sketch at night.

          The Limits on the ATM are to sell up to 3k per day, which you do need an ID, but for transactions under 1500 you just need your cell phone, no ID. I have not asked about higher limits with the Genesis Coin ATM, but the Bitlox in their ad does say you can get higher limits if you become a VIP Client.

          The owners of the machines give Cell numbers that you can call, or preferably text if you have questions. which has been super helpful.

          I used this website to find the ATM, theres a ton around baltimore where you can buy BTC (HIGH FEES like 10%) and a handful where you can sell BTC and collect cash

          Just a moment...
          https://coinatmradar.com/
            Comment
            • Waterstpub87
              SBR MVP
              • 09-09-09
              • 4102
              #4
              The only ones near me are buy-only, with a 10% fee added to it. Lame.
                Comment
                • chosen4th
                  SBR MVP
                  • 12-29-12
                  • 1106
                  #5
                  Originally posted by Waterstpub87
                  The only ones near me are buy-only, with a 10% fee added to it. Lame.

                  I would think the more bitcoin grows, the more you will see the sell ones pop up
                    Comment
                    • CWD
                      SBR Hall of Famer
                      • 01-22-12
                      • 7665
                      #6
                      just used coinsource atm tonight, $140 got me roughly $130, not bad cause you are already going to pay min $5 fee with coinbase if you are in USA since they bill out of UK now, so another $5 doesnt hurt too much. this one cashes as well, they had 1300$ available to buy, this time it did not ask to scan my id and did not offer the paper wallet, it worked right into my blockchain.

                      and last time i bought from coinbase it took over an hour to get to blockchain wallet, and that was when there were no delays, so something wasnt on up and up, the info coinbase listed with the transaction was all BS until an hour later when it cleared. so im not going back to them unless i have to
                      Last edited by CWD; 03-03-17, 04:26 AM.
                        Comment
                        • chosen4th
                          SBR MVP
                          • 12-29-12
                          • 1106
                          #7
                          Originally posted by CWD
                          just used coinsource atm tonight, $140 got me roughly $130, not bad cause you are already going to pay min $5 fee with coinbase if you are in USA since they bill out of UK now, so another $5 doesnt hurt too much. this one cashes as well, they had 1300$ available to buy, this time it did not ask to scan my id and did not offer the paper wallet, it worked right into my blockchain.

                          and last time i bought from coinbase it took over an hour to get to blockchain wallet, and that was when there were no delays, so something wasnt on up and up, the info coinbase listed with the transaction was all BS until an hour later when it cleared. so im not going back to them unless i have to
                          The nice thing about the one i use is the guy will approve the transaction if he sees it and you text him.. So if blockchain has a major delay, i can still get my cash because the guy will communicate with me and approve it manually..

                          On a side note, i tried going to the bitlox ATM, i was trying to pull 2k out, but the area was ghetto as hell so i wasnt about to go into a shady gas station to pull out 2k.. I messaged the owner of the machine and told him he should move it to a better area.
                            Comment
                            • CWD
                              SBR Hall of Famer
                              • 01-22-12
                              • 7665
                              #8
                              ...
                              Last edited by CWD; 03-04-17, 11:52 PM.
                                Comment
                                • littlekona
                                  SBR Hall of Famer
                                  • 11-19-15
                                  • 5242
                                  #9
                                  Originally posted by Waterstpub87
                                  The only ones near me are buy-only, with a 10% fee added to it. Lame.
                                  I'm in Chicago area and there are few 2 way but most are just deposit...the fees are 10% plus but If you contact the ATM provider they will give discounts...I am locked in at 6 % which isn't too bad and I use mainly as back up when I can't get quick or weekends late night
                                    Comment
                                    • pattymayo
                                      SBR Posting Legend
                                      • 05-19-09
                                      • 10221
                                      #10
                                      Couldn't agree more. There's a bunch of Bitcoin ATM's here in NYC that allow withdraw (though some only let you buy). You could literally make a bet, win it, and go collect. I've even bet on a soccer match, went to a little bar right around the corner from the ATM to watch the match, won the play, and then went and cashed out. Doesn't get better than that, it has come a long way. Love Bitcoin
                                        Comment
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