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It turns out these are more ubiquitous than I originally thought so I figured maybe I would go to one.

I'm not reading anything about buying crypto to deposit directly into offline storage like a Trezor. Is this not possible?

I see them located at gas stations and pharmacies, not banks so much. Are people really bringing thousands of dollars of cash to a shady-ass gas station to do these transactions? Seems pretty dumb to put them there.

Anyway just curious what the experience has been for anyone that actually used one.

It turns out these are more ubiquitous than I originally thought so I figured maybe I would go to one. I'm not reading anything about buying crypto to deposit directly into offline storage like a Trezor. Is this not possible? I see them located at gas stations and pharmacies, not banks so much. Are people really bringing thousands of dollars of cash to a shady-ass gas station to do these transactions? Seems pretty dumb to put them there. Anyway just curious what the experience has been for anyone that actually used one.

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[–] • 0 pt

I've used one to "withdraw" BTC to fiat. They're very intrusive for needing a lot of information about you.

What kind of pissed me off was the machine and website very clearly said "Withdraw up to $1000 with only a phone number." Turns out that anything past $100 required ID and other rigamarole. I only had $200 and change, so some went to a few websites, and I used two Google Voice numbers (since abandoned) to withdraw the $200 I wanted.

As far as buying, it's the same thing. ID required. You're better off just using Coinbase and moving your crypto somewhere as soon as you get it. It's probably cheaper as well, since the ATMs charge percentages that can approach 9% + fees.

[–] • 1 pt

Yeah I signed up for Krakken and they wanted a photo ID! I didn't provide it and they closed my account 2 days after I opened it. They initially said this was only needed for premium accounts so they are liars too.

[–] • 0 pt

In the USA, at least, it's part of the Know Your Customer laws that banks follow. Long long time ago you could just open a bank account without much info. They wanted an address of course, but that was because there were no online statements.