Bitcoin ATM anonymity

Bitcoin ATM anonymity

Bitcoin ATMs are one of the most useful and secure ways of buying bitcoins anonymously. With thousands of Bitcoin ATMs in more than 70 countries around the world, it's likely there's at least one Bitcoin ATM in your area. In this article, we'll look at the anonymity of Bitcoin ATM services in detail.

Bitcoin ATM

First of all, let's take a look at Bitcoin ATM.

As stated on Wikipedia, a Bitcoin ATM (Automated Teller Machine) is a kiosk that lets a person purchase Bitcoin, or other cryptocurrencies, by using cash or debit card. Some Bitcoin ATMs offer bi-directional functionality allowing the purchase as well as the sale of Bitcoin for cash. Some Bitcoin ATM providers require users to have an existing account to transact on the machine, while others let users use them anonymously. There are two types of Bitcoin ATMs — Bitcoin cash kiosks and fully-featured Bitcoin ATMs.

Bitcoin cash kiosks look like regular ATMs, however they do not connect to a bank account and rather connect the user straight to a Bitcoin exchange.

Bitcoin ATMs are traditional automated teller machines that connect to a bank account via the user's debit card, and both dispense cash and sell bitcoin.

Buying Bitcoin with ATM anonymously

To buy Bitcoin anonymously using a Bitcoin ATM, all you need is cash, a Bitcoin wallet, and a Bitcoin cash kiosk that lets you use cash—instead of your debit card.

Unless you exceed a specific transaction limit, Bitcoin cash kiosks don't require to verify your ID. The thresholds for verification vary from country to country and from ATM to ATM and can range from 1,000 EUR up to 10,000 EUR, without ID verification. The limits are based according to the specific AML/KYC standards applicable in the jurisdiction where the ATM is placed.

To check the conditions and limits of a specific ATM, you can refer to the Coin ATM Radar website.

Using Bitcoin ATMs is relatively simple. First, Bitcoin ATM asks you to scan your receiving address. In the next step, you deposit cash, and the ATM transfers an equivalent amount of bitcoins to your address. If you don't have a receiving address, some ATMs can even generate a paper wallet for you.

If there are Bitcoin ATMs near you, we strongly recommend them for buying Bitcoins anonymously. Bitcoin ATMs are fast, secure, and convenient.