How safe are Bitcoin ATMs?

[thalo]

Hello dear community,

How safe is Bitcoin ATM? My trading is generally only in crypto currencies and I have an income of about $50,000 every week from online business. So far I have used ATM crypto-currencies over and over again and have also received $1000 several times. The limit for such ATMs is about $5000 a day, so if I would draw $5000 from the ATMs every day, it would be noticeable, wouldn't it? Such ATMs all have camera surveillance.

Especially such ATMs are mostly in bars or places where there are a lot of people.

Would you rather recommend an offshore bank account or Bitcoin ATMs?

What are your experiences?

 

[Gediminas]

thalo said:
Hello dear community,

How safe is Bitcoin ATM? My trading is generally only in crypto currencies and I have an income of about $50,000 every week from online business. So far I have used ATM crypto-currencies over and over again and have also received $1000 several times. The limit for such ATMs is about $5000 a day, so if I would draw $5000 from the ATMs every day, it would be noticeable, wouldn't it? Such ATMs all have camera surveillance.

Especially such ATMs are mostly in bars or places where there are a lot of people.

Would you rather recommend an offshore bank account or Bitcoin ATMs?

What are your experiences?
Click to expand...

Definitely offshore account. If you have a legitimate source of funds, you shouldn't face any problems, unless you are Iraqi or North Korean, etc. 😉

Toggle signature
https://locked.money - Your Crypto Management Company, Ready in Days ”“ Trade, Invoice, $1,200/Year!

 

[SaintVince]

thalo said:
Hello dear community,

How safe is Bitcoin ATM? My trading is generally only in crypto currencies and I have an income of about $50,000 every week from online business. So far I have used ATM crypto-currencies over and over again and have also received $1000 several times. The limit for such ATMs is about $5000 a day, so if I would draw $5000 from the ATMs every day, it would be noticeable, wouldn't it? Such ATMs all have camera surveillance.

Especially such ATMs are mostly in bars or places where there are a lot of people.

Would you rather recommend an offshore bank account or Bitcoin ATMs?

What are your experiences?
Click to expand...

Jeezzz thalo, that is some serious btc amount on weekly basis.
ATMs are ok, but if you do this everyday than be careful as you might be noticed by some shady characters frequenting the place.

i think best for you would be OTC transactions with private Buyers/traders.

 

[hernanday]

I believe it is a good question, and I am interested in the answer.
I'd imagine if you are moving 10k your bank is reporting you.
But I'm not sure how safe the act ATM itself is.