1. #1
    Otters27
    Otters27's Avatar SBR PRO
    Join Date: 07-14-07
    Posts: 30,429
    Betpoints: 24

    How does a Bitcoin ATM work?

    You send bitcoin to the address and it spits out cash?

  2. #2
    pimike
    SPORTS IS MONEY
    pimike's Avatar SBR PRO
    Join Date: 03-24-08
    Posts: 36,776
    Betpoints: 193

    Easy as can be. Just know it will cost 8% and up fees depending which machines you use. I use coin flip.

  3. #3
    johnnyvegas13
    johnnyvegas13's Avatar Become A Pro!
    Join Date: 05-21-15
    Posts: 23,509
    Betpoints: 114

    U use ur phone and scan QR code w machine

    all take money only some offer payouts

    all high fees
    Points Awarded:

    Otters27 gave johnnyvegas13 2 Betpoint(s) for this post.


  4. #4
    pimike
    SPORTS IS MONEY
    pimike's Avatar SBR PRO
    Join Date: 03-24-08
    Posts: 36,776
    Betpoints: 193

    Quote Originally Posted by johnnyvegas13 View Post
    U use ur phone and scan QR code w machine

    all take money only some offer payouts

    all high fees
    Thatís correct.

    Itís good to send. If itís over 900 you need to get verified. Which is easy.

  5. #5
    Brock Landers
    Forever in Debt to your Priceless Advice
    Brock Landers's Avatar SBR PRO
    Join Date: 06-30-08
    Posts: 45,268
    Betpoints: 8307

    Bring vaseline with you before taking it in the ass

  6. #6
    pablo222
    pablo222's Avatar SBR PRO
    Join Date: 01-03-19
    Posts: 8,722
    Betpoints: 23092

    Don't go bitcoin ATM route. Get a Bitpay card.

  7. #7
    pimike
    SPORTS IS MONEY
    pimike's Avatar SBR PRO
    Join Date: 03-24-08
    Posts: 36,776
    Betpoints: 193

    Quote Originally Posted by pablo222 View Post
    Don't go bitcoin ATM route. Get a Bitpay card.
    I only use to buy

  8. #8
    Otters27
    Otters27's Avatar SBR PRO
    Join Date: 07-14-07
    Posts: 30,429
    Betpoints: 24

    Quote Originally Posted by pablo222 View Post
    Don't go bitcoin ATM route. Get a Bitpay card.
    How do you get a bit pay card?

  9. #9
    Otters27
    Otters27's Avatar SBR PRO
    Join Date: 07-14-07
    Posts: 30,429
    Betpoints: 24

    Quote Originally Posted by johnnyvegas13 View Post
    U use ur phone and scan QR code w machine

    all take money only some offer payouts

    all high fees
    How do you know which ones give cash. Don't care about the fees

  10. #10
    pablo222
    pablo222's Avatar SBR PRO
    Join Date: 01-03-19
    Posts: 8,722
    Betpoints: 23092

    Quote Originally Posted by Otters27 View Post
    How do you get a bit pay card?
    Go to their website.

    You can use it at the grocery store, online, or at any ATM
    Points Awarded:

    Otters27 gave pablo222 2 Betpoint(s) for this post.


  11. #11
    pimike
    SPORTS IS MONEY
    pimike's Avatar SBR PRO
    Join Date: 03-24-08
    Posts: 36,776
    Betpoints: 193
    Points Awarded:

    Otters27 gave pimike 2 Betpoint(s) for this post.


  12. #12
    Hman
    Hman's Avatar Become A Pro!
    Join Date: 11-04-17
    Posts: 21,454
    Betpoints: 1209

    All of these high fees are starting to defeat one of the purposes of Bitcoin

  13. #13
    teacher10
    teacher10's Avatar SBR PRO
    Join Date: 08-28-18
    Posts: 1,787
    Betpoints: 216

    Definitely recommend Bitpay. Easy to use. You can either use it as a credit card or as an ATM card for cash. Sports book to Blockchain to Bitpay Wallet to Card.

  14. #14
    Orbison
    Orbison's Avatar SBR PRO
    Join Date: 09-07-20
    Posts: 4,679
    Betpoints: 1614

    Quote Originally Posted by Brock Landers View Post
    Bring vaseline with you before taking it in the ass
    the fees are ridiculous i agree. do you have a Bitpay card?

  15. #15
    newton0038
    newton0038's Avatar SBR PRO
    Join Date: 03-07-07
    Posts: 2,085
    Betpoints: 216

    Do you need to hang out at the ATM waiting for the confirmations? Or is it instant? Waiting for confirmations could put a man at risk depending on ATM location and number of thugs that see you waiting....and then they know u gots the monies.

  16. #16
    Hman
    Hman's Avatar Become A Pro!
    Join Date: 11-04-17
    Posts: 21,454
    Betpoints: 1209

    Quote Originally Posted by teacher10 View Post
    Definitely recommend Bitpay. Easy to use. You can either use it as a credit card or as an ATM card for cash. Sports book to Blockchain to Bitpay Wallet to Card.


    But the fees are high as others are pointing out?

  17. #17
    pimike
    SPORTS IS MONEY
    pimike's Avatar SBR PRO
    Join Date: 03-24-08
    Posts: 36,776
    Betpoints: 193

    Quote Originally Posted by newton0038 View Post
    Do you need to hang out at the ATM waiting for the confirmations? Or is it instant? Waiting for confirmations could put a man at risk depending on ATM location and number of thugs that see you waiting....and then they know u gots the monies.
    Funds your wallet ASAP

  18. #18
    pablo222
    pablo222's Avatar SBR PRO
    Join Date: 01-03-19
    Posts: 8,722
    Betpoints: 23092

    Bitpay fees would be far less than BTC ATM.

    And if you aren't in or near a city they are not close by.

  19. #19
    teacher10
    teacher10's Avatar SBR PRO
    Join Date: 08-28-18
    Posts: 1,787
    Betpoints: 216

    Quote Originally Posted by Hman View Post
    But the fees are high as others are pointing out?
    Around $10 fees....of course it's not worth it for smaller transactions but anything more than $300 I feel like its worth it because of it's convenience

  20. #20
    Brewcity
    Brewcity's Avatar SBR PRO
    Join Date: 01-04-18
    Posts: 188
    Betpoints: 943

    Quote Originally Posted by Hman View Post
    But the fees are high as others are pointing out?
    Yea, I think its $2.50 fee for each atm withdrawal. But if you go inside a bank, you can do whats called a "debit card cash advance". Bitpay max at once is $2000, so 2.50 for 2k$. Not bad. And everytime I go to grocery store or Walmart, they let you do debit, type in your pin, and I get $100 cash back every time i go there, just because its free, no fees.
    Another thing you can do is go to Walmart, get a $ order, I think its like 79 cent fee or something and pay bills with it...cc, cable, cell...etc.

    There are ways where its not too bad. But your right, the fees can add up if you cash out alot. I had like over 20k on there in like September or October. I just bought a car last July, so everytime my payment is due, I just go do a debit card cash advance for 2k, throw it all on my car! Pretty nice to have 75% of my car pd for all cus I had the run of my life for a couple months!
    Nomination(s):
    This post was nominated 1 time . To view the nominated thread please click here. People who nominated: pablo222

  21. #21
    pimike
    SPORTS IS MONEY
    pimike's Avatar SBR PRO
    Join Date: 03-24-08
    Posts: 36,776
    Betpoints: 193

    Quote Originally Posted by Brewcity View Post
    Yea, I think its $2.50 fee for each atm withdrawal. But if you go inside a bank, you can do whats called a "debit card cash advance". Bitpay max at once is $2000, so 2.50 for 2k$. Not bad. And everytime I go to grocery store or Walmart, they let you do debit, type in your pin, and I get $100 cash back every time i go there, just because its free, no fees.
    Another thing you can do is go to Walmart, get a $ order, I think its like 79 cent fee or something and pay bills with it...cc, cable, cell...etc.

    There are ways where its not too bad. But your right, the fees can add up if you cash out alot. I had like over 20k on there in like September or October. I just bought a car last July, so everytime my payment is due, I just go do a debit card cash advance for 2k, throw it all on my car! Pretty nice to have 75% of my car pd for all cus I had the run of my life for a couple months!

    Good stuff

  22. #22
    pablo222
    pablo222's Avatar SBR PRO
    Join Date: 01-03-19
    Posts: 8,722
    Betpoints: 23092

    My grocery store lets me get 200 cash back. No fee.
    Go 3 times in a week and get groceries and 600 without any fees.
    Like teacher said it is a minimal fee each time you load the Bitpay card.

  23. #23
    teacher10
    teacher10's Avatar SBR PRO
    Join Date: 08-28-18
    Posts: 1,787
    Betpoints: 216

    Good point Brew - I did forget to mention if you w/d money from ATM, the bank will charge you $2.50 for a w/d fee and Bitpay will charge an additional $3. I've never done what Pablo has mentioned so if you're worried about fees that would be a good route to take

  24. #24
    johnnyvegas13
    johnnyvegas13's Avatar Become A Pro!
    Join Date: 05-21-15
    Posts: 23,509
    Betpoints: 114

    Quote Originally Posted by pablo222 View Post
    My grocery store lets me get 200 cash back. No fee.
    Go 3 times in a week and get groceries and 600 without any fees.
    Like teacher said it is a minimal fee each time you load the Bitpay card.
    where can u get 200 cash back

    I know Walmart and king Sooper offer 100 max

  25. #25
    pablo222
    pablo222's Avatar SBR PRO
    Join Date: 01-03-19
    Posts: 8,722
    Betpoints: 23092

    Quote Originally Posted by johnnyvegas13 View Post
    where can u get 200 cash back

    I know Walmart and king Sooper offer 100 max
    Northeast chain Hannafords.

  26. #26
    pavyracer
    MOLON LABE
    pavyracer's Avatar SBR PRO
    Join Date: 04-12-07
    Posts: 80,706
    Betpoints: 114

    Do you need a shovel and a sieve to mine bitcoin?

  27. #27
    Brewcity
    Brewcity's Avatar SBR PRO
    Join Date: 01-04-18
    Posts: 188
    Betpoints: 943

    Quote Originally Posted by teacher10 View Post
    Good point Brew - I did forget to mention if you w/d money from ATM, the bank will charge you $2.50 for a w/d fee and Bitpay will charge an additional $3. I've never done what Pablo has mentioned so if you're worried about fees that would be a good route to take
    There is lots of banks that don't charge anything for atm withdrawals, so it would be just bitpays fee. For the debit card cash advance, banks don't charge anything. The $2.50 is bitpay fee.

  28. #28
    cincinnatikid513
    cincinnatikid513's Avatar SBR PRO
    Join Date: 11-23-17
    Posts: 46,539
    Betpoints: 88

    jj said ur from wichita , kansas

    my step dad graduated from wichita state, big shockers fan

  29. #29
    Otters27
    Otters27's Avatar SBR PRO
    Join Date: 07-14-07
    Posts: 30,429
    Betpoints: 24

    Quote Originally Posted by cincinnatikid513 View Post
    jj said ur from wichita , kansas

    my step dad graduated from wichita state, big shockers fan
    Haha. No. Jj said that I don't know why

  30. #30
    Brock Landers
    Forever in Debt to your Priceless Advice
    Brock Landers's Avatar SBR PRO
    Join Date: 06-30-08
    Posts: 45,268
    Betpoints: 8307

    Quote Originally Posted by Orbison View Post
    the fees are ridiculous i agree. do you have a Bitpay card?
    yep

  31. #31
    hotcross
    hotcross's Avatar SBR PRO
    Join Date: 08-04-17
    Posts: 7,933
    Betpoints: 4384

    Quote Originally Posted by Hman View Post
    All of these high fees are starting to defeat one of the purposes of Bitcoin

    So isn't it time more of out favorite books start accepting more ALTCOINS with lower fees and quicker network confirmation times, for both deposits and payouts?

    BM has altcoin options
    BOL has a few options, not as many, but helpful still

    Just a couple examples

Top