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/biz/ - Business & Finance


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File: 10 KB, 300x168, Atm.jpg [View same] [iqdb] [saucenao] [google]
9814805 No.9814805 [Reply] [Original]

Sup /biz/, one of these bitcoin atms just arrived at my local convenience store, wouldn't this be an easy way to not leave a trail of your crypto purchases for tax purposes? What's the downside

>> No.9815172

>>9814805
Fees and having to incrementally, slowly over time cash out.

>> No.9815181

>>9815172
How big are the fees?

>> No.9815193

>>9815181
Every machine is different anon, in a thread yesterday one anon said 5% but as I understand it you can just rent one of those badboys or buy them and set the fee at pretty much whatever you want. Go check. there are sometimes websites that will give you 'ratings' on local Bitcoin ATMs in your area.

>> No.9815195

8 percent fees. That's it. Complete anonymity, no trail, I've cashed out with this method.

>> No.9815207

>>9814805
How fast/slow is it ?
Also how much cash can you withdraw ?

>> No.9815210

>>9814805
>bitcoin atm in convenience store

Sounds like a good way to get jumped by a tweaker in the parking lot.

>> No.9815269

>>9815181
Here in Ottawa it's about 11% to cash out. That's all going to change soon. I'll be opening one in the south end that's 4% fee. It will support BTC/BCH/ETH/LTC as well. And we might even allow 0-conf BCH.

>> No.9815328

Can I use one of these to get BTC to send to the Daily Stormer? Normiebase will close my account if I send it to Anglin from there.

>> No.9815359

>>9815210
You realize that is true for normal ATMs too right?

>> No.9815378

>>9815193
if you buy or sell btc on coinbase you gonna get about 5% cost with fees and the spread.

>> No.9815462

>>9815378
Limit orders on gdax/coinbase pro are 0% with no free deposit/withdrawal

>> No.9815468

Was in thread yesterday calgary anon. 5% fee generally better than taxman. Takes me under 1 minute to withdraw havent tried anything over 500 yet though. Just have jax wallet and scan the qr code on the atms.screen and magical money pops out no issues. I would suggest a burner phone with wifi as ive received some weird area code calls though could be unrelated.

>> No.9815474

>>9815181
The one near mear is near 20% it's nuts

>> No.9815657

No minimum deposit. 1000 deposit limit per phone number (I use Google voice to send to different wallets and withdraw separately)

>> No.9815676

>>9815462
>no free deposit/withdrawal
what does that mean?

>> No.9816103

>>9815676
Think anon meant no FEE

>> No.9816130

If fees < 30%, better than paying taxes

>> No.9816993

is setting up btc atms still profitable?

>> No.9817066

>>9815193
>buy bitcoin atm
>install it in your house
>set fees to zero
>paper trail free cash ours
no need to thank me guys

>> No.9817432

>>9817066
where does one get the money from to fill it with anyway?

>> No.9817499

>>9815328
No

>> No.9817872

>>9816103
yeah that would make sense it just sounds too nice.

>> No.9817926
File: 47 KB, 732x1000, brainlet.jpg [View same] [iqdb] [saucenao] [google]
9817926

>>9817066
You realize these machines cost over $7k not to mention you installed it at your house so they know where it is.

>no paper trail

>> No.9817961

Where buy atm

>> No.9818030
File: 127 KB, 601x508, 1505320537517.png [View same] [iqdb] [saucenao] [google]
9818030

>>9817926
>either of those two things are the biggest problem with my plan

>> No.9818101
File: 82 KB, 1216x970, btc doing something.jpg [View same] [iqdb] [saucenao] [google]
9818101

>>9814805
They usually require you to scan your fingerprint + take a photo of your face (plus there are cameras filming the ATM itself).

>> No.9818115

>>9814805
well try to check the sell option on that batm . Every batm has it's own rules on buy-sell and limits where you can withdraw without any kyc .
If it needs a sms verification just buy an burner phone and anonymous SIM card and you should be fine

>> No.9818118

>>9814805
not in burgerland. better get ready to cough up your drivers license, passport, SS card, and birth certificate to confirm a transaction

>> No.9818829

>>9815328
heard of tumbling?

>> No.9819025

>>9818101

that pic made me giggle like a girl. thx.

>> No.9819298

>>9814805
Use monero instead
moneroforcash.com
localmonero.co

>> No.9819804

>>9814805

use bitcoin atms to launder money

feels good m8

>> No.9820587
File: 116 KB, 648x814, italic buterin.jpg [View same] [iqdb] [saucenao] [google]
9820587

>>9819025
my pleasure