Post
Topic
Board Bitcoin Discussion
Re: A question about withdrawing BTC
by
Gumpfire
on 21/02/2020, 10:11:34 UTC
Recently I became interested in the feasibility to withdraw btc through the atm. I read a lot of information about this, here, for example, article on changelly.
If you guys have a similar experience, please share it. I'm worried about the anonymity of such a method. And all in all, aren't such things contrary to the idea of cryptocurrency on the whole if you have as much anonymity when working with it as you do with fiat?

An ATM isn't anonymous, unless its in a place where you can use it while disguised/masked. Regardless of the ATM requiring you KYC or not (which can only make things worse) the fact that is a physical thing means it can have surveillance (and should, since vandals love breaking the things apart).

Some people find them convenient, i find them cumbersome (and horribly expensive). Your best chance for "anonymity" is online, perhaps even mining, but that option is rapidly disappearing.

Using ATM in withdrawing bitcoin is a good choice for conveniency, but then, as what he had said above, the anonymity will not really apply to it. Using ATMs requires information verification and authentication, and we all know it is because of the safety for everyone who will withdraw.

As many people are using bitcoin nowadays, there's a high chance that we will all need to verify our identities online to have a secure transaction.