Post
Topic
Board Bitcoin Discussion
Re: A question about withdrawing BTC
by
Assface16678
on 21/02/2020, 10:56:39 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.

One of the good adaptation today is with the use of crypto currency it is they are now supporting the use of crypto currency because for now only few people accept the use of crypto because they are afraid with the security of their users and people who would like to use it. By that innovation many people want to have a faster and efficient atm that supports the crypto but now only few country accepts it but still you can do that if your country are supporting of atm crypto but if it does not it is better if you convert your crypto into fiat even it has a transaction fee for converting still some of us really need money or withdraw our funds to use our earnings. Hopefully other countries appreciate the use of it and also see the potential of the crypto to gain a lot of earning.