# GENERAL FORUM > CRYPTO-CURRENCY ~ FOREX >  Bitcoin ATM RIP off?

## Wyatt 88

Had trouble using my bank account to transfer Bitcoins into my wallet So I just bought Bitcoins for the first time from the ATM. The interest rates seem rather High. 

I also learned the places that carry the Bitcoin ATM's only make $100 a month same as a regular ATM.

Just wondering if anyone has some advice when is a good time to buy Bitcoins at low interest rate and how to do it through a bank account?

Edit:
Any advice on how to buy Bitcoins from NDEX and put them in a wallet?

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## EDCG19

I just use coinbase
Fees are a problem and it can take a while to clear

Sent from my SM-N960U using Tapatalk

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## Bio-Active

> I just use coinbase
> Fees are a problem and it can take a while to clear
> 
> Sent from my SM-N960U using Tapatalk


Do not use coin base use Gdax with your coin base credentials. It is way cheaper then move you coin to blockchain or Mycelium

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## Oliver47

As for me, I wouldn't switch from coinbase. Coinbase is totally brilliant! I've been using it for quite a while now and am really happy with it. Especially if you want something you can use for exchanges as well as international payments with different currencies, it works really well. There are many other cryptocurrency exchanges out there https://cryptolinks.com/cryptocurrency-exchange , but I think nothing can beat it at the moment.

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## HoldMyBeer

Coinmama, you can just buy w CC. No linking to bank account necessary and no traveling to atm

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## Bio-Active

Coinmama only works in certain states

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## Oliver47

Then just don't do business with them! I don't know why that's so hard to figure out.
Do your own research on the crypto projects, this infor may help https://revain.org/projects/bitcoin . And never conduct any transactions without learning the service you are going to use.

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## jstone

Coinmama and coinbase are shit services, abra, and kraken are much better. More sources need to switch over to monero. Take your coins from whatever service you use move them to another wallet, and then a blender, and then transfer them to your sources wallet.

Just sending them to a blockchain wallet isnt enough to ensure your coins are not easily traced.

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## Chicagotarsier

> Coinmama and coinbase are shit services, abra, and kraken are much better. More sources need to switch over to monero. Take your coins from whatever service you use move them to another wallet, and then a blender, and then transfer them to your sources wallet.
> 
> Just sending them to a blockchain wallet isnt enough to ensure your coins are not easily traced.


Kraken, really? Maybe I am missing something here. The whole purpose of bitcoin is to be anonymous. Kraken totally removes that via their wallet loading methods. You still need another service to actually use Kraken to be able to load it.

Bitcoin ATM is the only real way to use the service as intended..anonymously.

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## Littlearnie

> Kraken, really? Maybe I am missing something here. The whole purpose of bitcoin is to be anonymous. Kraken totally removes that via their wallet loading methods. You still need another service to actually use Kraken to be able to load it.
> 
> Bitcoin ATM is the only real way to use the service as intended..anonymously.


How can you do it anonymously even with bit coin atm?

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## beanpo1e

You can pay in cash at a bitcoin atm.

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## Littlearnie

> You can pay in cash at a bitcoin atm.


Sorry but I’m such a newb to crypto. I’ve been reading up today and trying to get into it.

The bitcoin machine near me asks for mobile number and then a wallet to transfer too.
Would This not leave a trail?

For now I just wanna get it for extra discounts when purchasing but I guess it’s the future and I need to know how to stay anonymous.

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## Bio-Active

> Sorry but Im such a newb to crypto. Ive been reading up today and trying to get into it.
> 
> The bitcoin machine near me asks for mobile number and then a wallet to transfer too.
> Would This not leave a trail?
> 
> For now I just wanna get it for extra discounts when purchasing but I guess its the future and I need to know how to stay anonymous.


Thats why you move it to another Wallet and run it through a grinder if you are concerned

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## Littlearnie

> Kraken, really? Maybe I am missing something here. The whole purpose of bitcoin is to be anonymous. Kraken totally removes that via their wallet loading methods. You still need another service to actually use Kraken to be able to load it.
> 
> Bitcoin ATM is the only real way to use the service as intended..anonymously.


Any recommendations on what wallets are best to use?

@bio thanks. 

What about good sources for info? Ive been just following google links and reading to much. I want to set up a wallet and go to the atm today.

Is it true atm charge 10-20% though?

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## BG

I figured this would be a lot easier by now.......Ill wait longer.

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## Bio-Active

> Any recommendations on what wallets are best to use?
> 
> @bio thanks. 
> 
> What about good sources for info? Ive been just following google links and reading to much. I want to set up a wallet and go to the atm today.
> 
> Is it true atm charge 10-20% though?


Mycilium is super easy to use and secure. Blockchain is easy to use. Those are my go to wallets. If you want an even more secure wallet then look at electrum. These are just wallets not exchanges.

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## Bio-Active

> I figured this would be a lot easier by now.......Ill wait longer.


Its pretty simple once you wrap your head around it and yeah the atm does have a charge so I buy through the atm when btc is at its low and I spend at times like now when I have doubled my money

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## Littlearnie

> Mycilium is super easy to use and secure. Blockchain is easy to use. Those are my go to wallets. If you want an even more secure wallet then look at electrum. These are just wallets not exchanges.


TYVM. Mycelium looks like it will do the trick.




> Thats why you move it to another Wallet and run it through a grinder if you are concerned


Could you not also do this if buying coins through an exchange?

I was looking at hardware wallets too there’s so many! But if wanting to stick with Anonymity I guess You’d have to find a shop that sells them in person.

From what I can tell so far it looks like crypto could be the cash of the future. (Late to the party :/  :Wink/Grin:  )

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## Bio-Active

> TYVM. Mycelium looks like it will do the trick.
> 
> 
> 
> Could you not also do this if buying coins through an exchange?
> 
> I was looking at hardware wallets too theres so many! But if wanting to stick with Anonymity I guess Youd have to find a shop that sells them in person.
> 
> From what I can tell so far it looks like crypto could be the cash of the future. (Late to the party :/  )


You do not want to use the wallet that comes with your exchange account. Move it from there to one of the wallets we talked about either BC mycilium or electrum

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## BG

> I buy through the atm when btc is at its low and I spend at times like now when I have doubled my money


That’s got to be the best way to do it.

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## Littlearnie

> You do not want to use the wallet that comes with your exchange account. Move it from there to one of the wallets we talked about either BC mycilium or electrum


I went with blockchain. Seems they have their own exchange now too. I just need to buy around $320 now. Looking around to see best exchange as I read they all take commission for transferring and stuff :/ .

What I meant was if you buy from an atm then “put through a grinder and transfer wallets”. Could you not just buy from an exchange put through a grinder and then transfer wallets the same?

I’m just curious! I mean atm it’s all connected to me. App is on my phone and connected to my email. I will use my card to buy. I’m not really bothered it’s just the site I wanna use only accepts crypto.

But I would like to know just in case they ever actually manage to get rid of cash cash!..

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## Littlearnie

Ok I haven’t stoped I’ve been researching! I think if I needed to could stay anonymous maybe but I ain’t paying the fees for what I need it for!

So gdax is now called coinbase pro. I signed up to coinbase pro. Am awaiting if checks on coinbase too.
Then I’ve got a blockchain. You can use this as a wallet without if but if you wanna buy/sell then you need to prove who you are. I think!?

So plan is use my credentials to buy via gdax/coinbase pro. Move to coinbase wallet. Move to blockchain wallet. Send to source.


What you think sound alright?

Not real anonymous because it seems bitcoin is TRACKED like a mofo. But a little extra layer because too many people say don’t send straight from your personal wallet.

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## Bio-Active

> I went with blockchain. Seems they have their own exchange now too. I just need to buy around $320 now. Looking around to see best exchange as I read they all take commission for transferring and stuff :/ .
> 
> What I meant was if you buy from an atm then put through a grinder and transfer wallets. Could you not just buy from an exchange put through a grinder and then transfer wallets the same?
> 
> Im just curious! I mean atm its all connected to me. App is on my phone and connected to my email. I will use my card to buy. Im not really bothered its just the site I wanna use only accepts crypto.
> 
> But I would like to know just in case they ever actually manage to get rid of cash cash!..


Blockchain exchange? I dont think so

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## Littlearnie

> Blockchain exchange? I don’t think so


Just googled to make sure. Says blockchain exchange was created created in jul 2019 :/ .? I can buy bitcoin staright from my blockchain app anyway. If I send them a selfie and more I’d that is.

https://exchange.blockchain.com/

Coinbase bro charges me 4% by debit or 0.5% if I link my bank account. Which I’m trying to do!

Also crypto.com offer this month 0% Buy fees.

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## Bio-Active

> Just googled to make sure. Says blockchain exchange was created created in jul 2019 :/ .? I can buy bitcoin staright from my blockchain app anyway. If I send them a selfie and more Id that is.
> 
> https://exchange.blockchain.com/
> 
> Coinbase bro charges me 4% by debit or 0.5% if I link my bank account. Which Im trying to do!
> 
> Also crypto.com offer this month 0% Buy fees.


Thats not how it works. Blockchain has a few different cryptos that it supports now and you can exchange the crypto in your wallet for other crypto that the blockchain app supports but blockchain is not a full on exchange that you can convert usd to crypto

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## Littlearnie

I worked it out. I sent to to bc wallet and then sent to source. Thanks.

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## Hughinn

I use rocketcoin. 

If you hit an atm for bitcoin, get a paper wallet. Then transfer it to whatever you want. Mycelium is good. 

But I use rocketcoin. Because the wallet itself asks for little information to open and has no links to anything other than a mobile phone number. A prepaid and one time text confirmation and your done.

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## darktime

Second all the above, 
The Bitcoin ATM's to me are more about getting the word out on Crypto - which i believe was the inventors intention. More publicity = more use = better prices for all, eventually. 
Don't think the ATM's are really ever meant for anyone seriously investing due to fees, more a gimmick which can be used in a pinch, or an easy intro for newbies. 

As for a wallet - i would highly recommend any Ledger Wallet, just don't buy physically in store or a middle man retailer, you want to buy direct from them to make sure it hasn't been tampered with. If you aren't ready for a hardware wallet, then any paper wallet will do - golden rule, just don't keep your currency on the exchange! (MTGOX, Cryptsy etc have been hacked and gone bust in the past.)

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## 956Vette

> Is it true atm charge 10-20% though?


Industry standard is ~8%.

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