I’ve tried buying LTC and BTC in the past using an ATM but now I’m wondering how the withdrawal process works. I’ve only read about people who have experienced this but I’ve not encountered anyone (a friend or someone I’ve spoken to online) who’s actually done it.
If anyone here has tried withdrawing crypto from an ATM, I’d love to read about your experience.
This looks interesting. I have yet to see one of those ATM machines in person.
they have a few machines around where I live. You just have to google them to see where they are. But, I haven’t used those machines at all. Everything I’ve done has been all online
Bitcoin is digital currency that does not carry physical feature like fiat money or paper and coin but can only be converted to fiat currencies. So, by conversion, it can be withdrawn via the ATM. It can spent online to purchase goods or to pay for a service as the case may be.
I’ve heard of these! 
Though I don’t think we have a lot in our country. 
The one I know of is kinda far from where I live (and is in a kinda sketchy place) so I’ve been hesitant to try withdrawing there. 
Very interesting indeed! So far, I haven’t heard of them. There must be very few installed in different locations but hoping that more will come in the future.
@ria_rose why would they put such an ATM at a sketchy location, doesn’t sound logcal to me haha?
@purtle, did your friend give you any more details about the process?
IKR!!! Hahaha. It’s just weird. I mean, I have yet to visit the place to see if they have tight security around. But, from what I’ve heard from friends, the location’s pretty sketchy. Lol.
These types of ATMs usually sell bitcoin at extremely inflated prices. Be careful
Yea I heard the fees are crazy, which isn’t surprising that they would be
Just looked one up down the highway from me. With BTC at $9100, they had a 10% markup. Minimum buy price set at $10000. Sell at $8800. Ouch.
That way is pointless lol
Damn. That’s crazy. So you bought?? Lol.
I mean, I was able to buy but I’m just not sure how to withdraw. Like what if you’re still waiting for the transaction to hit the blockchain? Do you just stand around the ATM machine looking super suspicious as your transaction gets confirmed??? Haha. Sounds a bit scary!
Fun Fact: The correct term is “Bitcoin kiosk”. 
From Wikipedia:
Bitcoin machines are not ATMs in the traditional sense and probably use the wording ATM as a neologism. Bitcoin kiosks are machines which are connected to the Internet, allowing the insertion of cash in exchange for bitcoins given as a paper receipt or by moving money to a public key on the blockchain. They look like traditional ATMs, but Bitcoin kiosks do not connect to a bank account and instead connect the user directly to a Bitcoin exchange.
That’s crazy! Did you try using the atm… err bitcoin kiosk? 
Haha I bet it does! [quote=“Cryptopotamus, post:13, topic:148518”]
Fun Fact: The correct term is “Bitcoin kiosk”.
From Wikipedia:
Bitcoin machines are not ATMs in the traditional sense and probably use the wording ATM as a neologism. Bitcoin kiosks are machines which are connected to the Internet, allowing the insertion of cash in exchange for bitcoins given as a paper receipt or by moving money to a public key on the blockchain. They look like traditional ATMs, but Bitcoin kiosks do not connect to a bank account and instead connect the user directly to a Bitcoin exchange.
[/quote]
This sounds much more logical to me. But if the markups are so high, I am not sure if it’s worth it.
Between crypto taxes or the ATM markup, perhaps the one-time markup fee is better. 
I think it is not possible currently. You can use the crypto currency exchange for this purpose. Coinbase is one of the best crypto exchange in the world and it offers very low exchange fee as well. Best of luck for your withdrawal!
Thank you! I have some that aren’t in Coinbase and was hoping I could withdraw via the ATM but I guess I’ll just be forced to hold longer haha.
I have not yet tried and honestly speaking i have just seen the crypto ATM on the internet only. but i am so excited to use a crypto ATM if ever i got a chance.
There’s already a bunch of them in the US but kind of scary tbh. It’s like you’re announcing to people you own crypto - but I suppose that’s not any different that being at a cash ATM.