What is the most efficient way to locate Bitcoin ATM Machine using the address?
For my online store I am guiding my customers to make payment using bitcoin, but one struggle is locating the Bitcoin ATM machine closes to them. Customers are paying by CASH. Is there a website where I can find and send the closest Bitcoin ATM machine to my customer address? If there is not one such site how to create one?
You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments. It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Limited Supply - There will only ever be 21,000,000 bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary. The halving countdown can be found here.
Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
Accountable - The public ledger is transparent, all transactions are seen by everyone.
Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works. You can even run a node on a Raspberry Pi.
Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.
Low fee scaling - On chain transaction fees depend on network demand and how much priority you wish to assign to the transaction. Most wallets calculate on chain fees automatically but you can view current fees here and mempool activity here. On chain fees may rise occasionally due to network demand, however instant micropayments that do not require confirmations are happening via the Lightning Network, a second layer scaling solution currently rolling out on the Bitcoin mainnet.
Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
Portable - Bitcoins are digital so they are easier to move than cash or gold. They can even be transported by simply memorizing a string of words for wallet recovery (while cool this method is generally not recommended due to potential for insecure key generation by inexperienced users. Hardware wallets are the preferred method for new users due to ease of use and additional security).
Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage. Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".
Securing your bitcoins
With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, then you will need to create your own wallet and keep it secure. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor, Ledger or ColdCard is recommended. Alternatively there are many software wallet options to choose from here depending on your use case.
If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email! 2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".
Where can I spend bitcoins?
Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out. If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.
Just like any other form of money, you can also earn bitcoins by being paid to do a job.
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.
The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
one bitcoin is equal to 100 million satoshis
1,000 per bitcoin
used as default unit in recent Electrum wallet releases
1,000,000 per bitcoin
colloquial "slang" term for microbitcoin (μBTC)
100,000,000 per bitcoin
smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki. Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval. Welcome to the Bitcoin community and the new decentralized economy!
Started seeing some bitcoin ATMs in local stores. The machines were from different companies and had different fees. Which made me wonder what goes into people's decision on what machine to use. Is mostly just how much the fee is? Also I was checking coinatmradar and most of the machines around me do not have the fees posted online so how do you know your getting a good fee? Do you consider other things: - Location (is it near me) - Company (maybe one company is more trusted than another, better customer service) - How much ID you need at the machine (upto $1000 with sms versus unto $1500)
Hunting Scammers... 8/16/20 If you don’t care about the background skip to: [************************************************] So... I am in a unique position where I am aware of new and old scams daily. I often help those that are wronged and I frequently pass this information along to family so they don’t fall prey... Recently my mother told me that she was a victim of a scam, but not just a few hundred dollars, not a few thousand... She got taken for around $125,000, 401k cleaned out, retirement gone, second mortgage, credit cards opened and maxed out, sold her car, loans taken out and emptied... How did they do it? They hacked a Facebook account of one of her cousins and that compromised account blasted out the message: “Hey I just got a grant from the IDA (Independent Development Association) I saw your name on the list, did you get your $150,000 check yet?” That spiral led into her texting an “agent” who got all of her information and told her that she needed to pay for the secure courier which was $1,000... Months go by with regular contact, always a new “problem” like “the check got delayed here for a customs check and you need to pay $500”. They told her that she was bound to secrecy as if she told anyone beyond my step dad, they would be disqualified. They told her that they needed to monitor her phone calls to make sure she didn’t tell anyone, they provided her with a “court order subpoena” which was obviously fake, but she didn’t know. They logged into her cell account and ordered 20+ new iPhone 11 Pro Max from her cell provider on her credit. Then they actually paid her account for 2 months before ghosting her... They hacked her Facebook and tried to recruit more people into their scam... It was always a promise of more money if you do this or that... $150,000 then $250,000 all the way to $750,000... [************************************************] Preface: Always be safe when scam hunting/baiting Use an encrypted email (ProtonMail is free) Use a good proxy/VPN (pay for it, it’s worth it) NEVER give out your personal details I got all the information from my mother about: The phone number she texted. The person she talked to. Where/who she shipped the cell phones to. Where/who she sent cash to. (1) First contact/a little payback From that I started by contacting the scammer... My Facebook is already locked down so the information you get from my profile is very little, I reached out to my mother’s compromised FB through messenger and got a bite. They told me to text a number from the US to which I happily obliged. I used a texting app in conjunction with a VPN on my computer running a VM (virtual machine) I can control all the information released like OS, browser and such if they know how to look it’ll all be spoofed. I spoke with the scammer who had me “fill out a form” and he was working from a script, which is hard to break them from... This form he sent me, he accidentally forgot to clear it off from the last person he scammed so I had all of the information from the victim *I immediately call this guy and saved him before he sent any money luckily. So I digress, I occupy the scammers time for about 6 hours, giving him issues and excuses finally getting him off script. He directs me to a “local” bitcoin ATM to send a deposit of $1,500. I go through a host of issues while he gave me his first BTC address. I google a good picture of a bitcoin ATM and began photoshopping error messages until I had an epiphany... I told the scammer that the machine was giving me an error that his account was unverified and that he needed to “mirror” the transaction by first sending me $1,500 to unlock the transfer and it would be immediately refunded and my “$1,500” would be sent too. Unfortunately it didn’t work, so he gives me the second BTC address. What do ya know, same error lol... After a back and forth for about an hour, I couldn’t believe it, he agreed to “mirror” the transaction... So I scrambled to get a clean BTC address and sent it to him. He agreed to send $200 to see if it worked... Low and behold I just received $200... So what do I do next? Give in? No. I just changed the photoshop to say “Pending $1,300” now lol... He bit, hard. After more talking and pretending to be a helpless 64 year old guy with $20,000 ready to give him the scammer saw green and got greedy... More debate, more discussion, he sent another $500. Give in now? No... Back to photoshop... “Pending $800” To cut it short, he sure as hell sent the other $800... After a back and forth I sent him doctored up transaction receipts saying it was all transferred back to him. Getting him off script and getting him to pay a fraction of what he stole, is that enough? No. I promptly withdrew the money and gave it to my mom, it wasn’t much but just a little victory for now... (2) Finding the mules The next day the scammer cuts all contact with me, so I spoof a new number and call him. It rings and goes to voicemail and I hear his voice, sounds distorted with a British accent but broken English, I assume African. I leave only my telephone number on the recording saying “call me back” (we’ll come back to this) I move on to the places the phones were sent, first up, an apartment complex about an hour from me. But I’m not looking for a direct contact situation as I don’t know who or what they’re capable of... So I get the shipping details and find a very unique name but for Reddit we’ll call her Mrs. “E”. I begin tearing into her life, public records, credit report info, and phone records, I get it all... Time to make contact, I send an unassuming text to her number, asking for help. Surprisingly she responded, I began by asking her about a shipment she got in and the name of the shipping company she was receiving packages for. Radio silence for a few hours, then the denial began... I hit her with the hard facts, and just enough information so she knows I know everything about her... Mrs. E breaks and gives me the info I need. She was contacted by a friend who owns a shipping company in Lagos, Nigeria, they asked her to take the package of iPhones and forward them to him via another courier service. Mrs. E gave me everything. Next is Mrs. R who my mother sent actual cash to... I looked up the address and find it’s a duplex in Midwest. So I do a quick search of the name and nothing comes up... I then use the County Assessment District to get the public tax records and owner information. I contact the owner and give him the name I have and explain why I’m looking for her information. He gave me all the details he could as Mrs. R is the girlfriend of his tenant and the name I had was wrong. Waiting to get Mrs. R’s records right now I’ll get everything on her just like Mrs. E, she’ll bend to my will. (3) International Phone Calls So while I was searching for Mrs. R’s records I get a phone call... It’s a Nigerian number... I answered and find out it’s my scammer that I left a message for... This genius calls me from his actual cell number, which is not the number I called and left a message for. Currently working on getting his subscriber information but it’s proving hard (if anyone can help reply). I call up the owner of the shipping company in Nigeria and tell him that I’m looking for shipping details and quotes, I’m still working on his information... He’s a pleasant person to talk to, I will ruin him... So that’s where I’m at for now, but I definitely will keep you all updated. Mini-update 8/16/20: The owner of the shipping company apologized that his courier service had anything to do with the transactions. I’m not sure if I believe that but he did give me a name and 2 phone numbers he had on file for the customer. I’m really needing someone who can check these numbers out... If I can get a carrier identified I can work my magic on them to get the info I need. Update #1: 8/17/2020 Today I got all of Mrs. “R”s info minus good contact information... Pitty... But I’ll find it. The number on her file with her last loan didn’t pan out... I’ll come back to this tomorrow... I back traced the scammers cell phones with a little help from a friend, both phones are confirmed cell phones with active service with 2 different cell phone providers in Nigeria. I’m still lacking on the subscriber information, but I know where to look now... I reached out to the Nigerian Police Force to see if they can help, I doubt they can but you never know what you can get without asking... The scammer himself reached out to another dummy account I set up. I gave him a little scare, he asked who referred me to him... I gave him his own name, he hasn’t responded yet... https://imgur.com/gallery/EvfLcgy Update #2: 8/31/2020 So after name dropping the scammer I got dead silence. Luckily I was able to capture his IP address. I worked with a few contacts I made and found he was using the “Text Now” app, did a little magic and found out the “main scammer” actually is working in a call center. But interestingly enough I found that the workers there on average make like $500usd a month... (more on that later) So I have numerous fake Facebook accounts optimized for international connections, even though they look and are set up American, with them connected to the profiles from Africa or Russia, you can set your profile up to show up to them first, and you’ll be flooded with friends and messages... Another scammer reached out to me and I played along and made friends with them. I ran a game on him for a little bit and just came out and told him what I was trying to do. I asked him to help me, but it was off how he was replying, I called him on the phone and he told me that he was “busy in the office”. So he ghosted me, or so I thought... I get a text message from a Nigerian number that I did not know a few hours later. He tells me that he was the one I was talking to, he went on to explain that everything they do is monitored, there are about 20 of them in this room with computers, and several cell phones at their station. This guy goes on to explain that he controls about 15 different profiles, as many phone numbers as he can, and several emails, all of which are for scamming. So I think I’ve just developed an asset in Nigeria........ He has agreed to help me for money. He explained to me that he pulls on average $40,000 usd a month, I don’t know if that figure is true, but it’s believable... Mr. Asset goes on to tell me that if they hit their goal they make $250 a month, and for every so many $$$’s above their goal they get bonuses. So ladies and gents’ I’ve got boots on the ground. (Hopefully) I’ll keep you all updated. Not officially an update but figured I’d share it anyway! https://www.reddit.com/SuicideWatch/comments/ikfno1/went_looking_to_ruin_a_life_ended_up_saving_one/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
So some background I just bought some bitcoin at a bitcoin ATM to try it out. I put $40 in the machine and received $34.80ish worth of bitcoin. The fee at the machine was 15%. $34.80*1.15 = $40 (which I put in the machine) The machine gives you a link to blockchain explorer where you can see when your transaction becomes confirmed. Looking through the transaction, the total fee for the transaction (which I assume is the mining fee) is $6.22 So I put $40 in the machine, received $34.80 and the transaction cost $6.22 to process. $34.80+6.22= $41.02, so the machine in fact losing money on the transaction? $41.02>$40 My question is the "Fees" in blockchain explorer in fact "mining fees"? I know this price changes throughout the day, but $6.22 seems high? and would the company running the machine be actually dumb enough to lose money on the transaction? Or can they not control what price the mining fee will be? Thanks in advance :)
Chase Bank terminated access to my account while on vacation and will not tell me why. I am filing a complaint with the CFPB and FTC. Need help
So, I always keep a balance of over $5000 in my account. Over the past 15 years with my relationship I have not had single bounced check. 2 days ago, while out of the country my ATM withdrawal gave me an error. I went to another machine and found out the same thing. I called my personal banker and they told me I would need to call the fraud department. I did this and upon the first phone call, they said that because I was receiving unemployment from a different state they needed statements to prove I was eligible for this money due to a high amount of fraud incidents with unemployment. I asked to speak with a supervisor and was hung up on and called back again. Upon speaking with the a supervisor, they told me Chase has decided to terminate my account and would not provide a reason. They said I would receive my funds in 10 days via mail to the address on the account. I buy bitcoin here and there which is the only thing I can think of that could have triggered this but it was a major inconvenience to be out of the country without the ability to access funds. Oddly enough, they are not closing my credit card accounts with them (but you can be damn sure I will be) however, I cannot login to the portal to actually pay a payment any longer. In my formal complaint to the entities listed in the title I plan to provide a recorded telephone call asking the representatives the following questions.
When was this decision made?
Why was I not notified
When will I have access to my online account so I can make payments on my credit cards with them (and then cancel as well)
Will there be information sent in the mail when you send my funds in 10 days regarding a reason for the account closure?
I am wondering if there are any other questions I should ask in the process before I turn the telephone call into the entities I am planning to complaint to. What I am hoping personalfinance can help me with is, Are there any other questions I should ask while on the phone? Are there any other authorities I can lodge a complaint with? I have an Ally savings account and called them yesterday. I asked to open a checking account and there was no problem opening this account so I am still unsure of what the issue is. If you have any suggestions about the course of action I should take or my strategy, please let me know. I am going to make a small website detailing transactions denied, the phone calls, and all the details of this incident and continue posting it to their twitter feed to warn other customers. Thanks for looking and thanks in advance for any advice.
Switzerland is good for business development as it is located in the center of Europe
Switzerland is good for business development as it is located in the center of Europe. It is convenient to get there for meetings with European partners. A prestigious jurisdiction is especially important for crypto companies that work with customers' money. Today we will talk about Crypto Valley. What is it and why will Simba be based there? We have already spoken about the fact that in 2016 the authorities of the city of Zug launched an experiment: they offered residents the option to pay for utilities and government services with bitcoins. Then, Swiss Railways allowed passengers to exchange cash for cryptocurrency in ticket machines. Local officials are satisfied with the pilot project and continue to introduce blockchain into the daily life of residents. There are over a hundred fintech startups operating in Zug now. According to PwC, every 11th fintech startup on the planet opens in Zug. Due to the cluster of decentralized startups, the canton has been nicknamed Crypto Valley (http://gdi.ch/media/cryptovalleymap_impuls_v2.pdf). The following are located there: the headquarters of the Ethereum blockchain platform; the Monetas cryptocurrency payment system; Bancor, the platform for creating new cryptocurrencies; Bitcoin Suisse AG, the Bitcoin ATM network operator; the Xapo bitcoin wallet provider; the ShapeShift cryptocurrency exchange; and the Lisk blockchain platform, which is competing with Ethereum. The Crypto Valley Association has (https://cryptovalley.swiss/) recently been established in Crypto Valley. It is engaged in the development of an ecosystem for decentralized technologies, prepares proposals for regulators, launches research projects and organizes events. The association brings together large companies (Luxoft, UBS, PwC, ConsenSys, Monetas and Thomson Reuters), investors, the Zug government, the University of Lucerne, and blockchain startups. On the map below, you can see where the Swiss company Simba will be registered: 130 meters from #Ethereum#Foundation near #Tezos#Foundation and #Bitcoin#Suisse Lion Simba chooses only the best locations for itself! https://preview.redd.it/3tbej7h25ch51.jpg?width=1264&format=pjpg&auto=webp&s=5eb540310fffbdd0b7d7f89eacb23a071d9a2026
How does Bitcoin ATM allow you to purchase Bitcoins?
https://preview.redd.it/f2tluqt1cfr51.jpg?width=2400&format=pjpg&auto=webp&s=9c5d4c926fd0ff5af215c26524537c1bf676b77b Are you planning to invest in Bitcoin, well, there is no better time than today to invest in cryptocurrencies. There are many biotin exchange platforms where you can buy and sell Bitcoin. Amongst the various modes of going ahead with Bitcoin exchange, you can choose Bitcoin ATM for this. It is an easy way to buy and sell Bitcoin using a credit or debit card. When we are talking about bitcoin sale and purchase, we cannot miss speaking about Bitcoin Farming. In simple words, individuals who wish to become a part of the Bitcoin network, then you can do Bitcoin farming, which is nothing but extraction of the value of Bitcoin. Bitcoin farmers or Bitcoin miners solve computation problems, and they get rewarded for the same. Bitcoin ATM: What should know? Bitcoin ATM is a simple machine that is used for the sale and purchase of Bitcoin using debit and credit cards. Although Bitcoin has been there in the market for more than a decade now when it comes to Bitcoin ATM, these are a fairly new addition and easy to use and makes it easy for those who wish to exchange Bitcoin do that with ease. The world got its first Bitcoin ATM in Vancouver, Canada, in 2013. At this ATM, the Bitcoin stalwarts can easily buy Bitcoin using the currency. This ATM is used to convert Bitcoin to Canadian Dollars and vice-versa. After this, Bitcoin ATMs have become very common. As of October 1st, 2020, there were around 10,503 Bitcoin ATMs globally. Types of Bitcoin ATM: There are two types of Bitcoin ATM: · The basic one: These are used only to purchase Bitcoin · Complex ones- These are used to buy and sell with virtual money. If you plan to use complex ATMs, you need to know that only the members of a particular ATM producer can use the ATM. Some of the key players that are in the making of complex Bitcoin ATM are General Bytes, Genesis Coin. General Bytes has a market share of 30.3%, and Genesis Coin has a market share of 30.3 %. The US has the highest number of Bitcoin ATM. Around 83% of the total global ATMs are located in North America. Bitcoin exchange using General ATM This is a general process of Bitcoin exchange using Bitcoin ATM, there may be slight variation in this, but the general process remains the same:
The first step is verification (this may vary based on machine
Now, you need to provide a Bitcoin address for deposit at some ATM.
Insert cash into the ATM
Confirm the operation (Bitcoin is sent to your Bitcoin address)
This is the basic step; however, you may find some variation in this based on ATM type. This is the right time to start investing in bitcoin, and with the prevalence of Bitcoin ATM, the task will become simpler. Concluding thoughts- To know more about Bitcoin and cryptocurrency exchange, log on to Blockchain Council. This is a leading platform that provides a Blockchain certification coursein Bitcoin and Blockchain. You can also learn about cryptocurrency trading. For more such interesting information, connect with Blockchain Council today.
What is an ATM network and how is PZMCash going to use it?
Hello, community. 👋🏻 Today we will tell you about crypto ATMs and their features. 💳 What is an ATM? ATM is an electronic telecommunications device that allows customers from financial institutions to withdraw cash, replenish deposits, make money transfers, and also receive account information. At the same time, ATMs are designed for self-service, are always available, and eliminate the need to visit a bank branch. In most modern ATMs, customers are identified using plastic cards (or some other acceptable payment card) with a PIN code. 💳 Benefits of Using ATM Using an ATM, customers can access their bank deposit accounts, manage their money without having to visit the bank and stand in line, they also provide the opportunity to quickly recharge a card or mobile phone. ATMs are also used to withdraw cash in a foreign country, even if the money on the card is in a different currency, they are simply converted according to the exchange rate. 💳 Cryptocurrency ATM and their features With the development of information technology, the advent of blockchain, and the increasing popularity of cryptocurrencies, the emergence of cryptocurrency ATMs was a natural step. Of course, most of the crypto ATMs belong to the main cryptocurrency - Bitcoin. Bitcoin ATM is primarily intended for exchanging cash for cryptocurrencies, however, part of the machines (about 30%) also offer the possibility of withdrawing cryptocurrencies into cash fiat money. Bitcoin ATMs are machines that are connected to the Internet, which allows you to enter cash in exchange for cryptocurrency, the amount of which is indicated on a paper receipt. In doing so, they charge a transaction fee. 🎯 PZMCash is planning to create an ATM network for the convenience of users of PZM currency, who can withdraw personal funds by exchanging PZMC for fiat, replenish their crypto wallets, buying PZMC, check the status of a personal account, and more. Since PZMCash is a means of payment, we also plan to issue our own plastic debit card in Q1.2021. Follow us on social media not to miss new exciting updates on PZMCash project! PZMCash website: https://pzmcash.com/en/ PZMCash Whitepaper: https://pzmcash.com/docs/WP_MARCH2020_ENG.pdf https://preview.redd.it/2ktpy6dzno551.png?width=5001&format=png&auto=webp&s=f78959044338d0c9ba7c12c5b5eb4f011dbc3990
TL;DR - For security and payment risk experts, how do CashApp scams work behind the scenes? I was recently scammed by CashApp. App sent a ton of money to a person I do not know. As I have discovered and what this forum mostly lets you know, that CA customer service is not super-concerned with a resolution. Hey, they made their 1.5%, yes? I am cautiously optimistic that my bank will side with me, but we will see. So, it got me thinking - how do these scams work? From my side, if I were to start using my CashApp account to steal money from people, I would ultimately want to transfer that money to bitcoin, my bank account or debit card (perhaps for immediate cash withdrawal). Enough complaints against an account, I'd imagine CashApp would put a freeze on the account and maybe close it. Plus, then there are bank accounts linked to CashApp with my information in the event someone got real aggressive about an investigation. ATM cards have limitations - either via the card or the machine itself. So, if I were to have thousands of dollars in CashApp account and had to withdraw cash to get it in $200-$400 increments at ATMs, might take a while and a few trips to ATMs - all with cameras. So, how exactly do these scammers obtain the funds and keep it going? Sure, if you are spending your time thieving and then your CA account gets shut down, you have cut off your source of income. I have read that some CA scammers use fraudulently obtained information on an unsuspecting person - name, address, last 4 of SSN, etc. and set up an account, keep an eye on mailbox and then use the debit card. This would provide a layer of protection but still run into ATM withdrawal limits and have the risk of CA account being frozen. Is it transfer to BitCoin and then to a wallet for cash? Is it just buying whatever merchandise you need from the store with the debit card? Money orders? I'd think eventually the CA account would be flagged. Chargebacks? So, I know at least in some cases, the fraud charges get reversed - even if temporarily - where the funds are then taken from CashApp and allegedly the scam user's account (real or fake). I am no stranger to payment processing issues. I can recall times where I was accepting payments via PayPal and ended up with negative balance or had ability to receive payments put on hold due to investigation of chargeback. Or, when running a larger business unit, our primary back frozen merchant account because our chargeback rate was a little higher than they right. It didn't matter that most, if not all, of chargebacks were proven to be false and we responded to them - the bank just said 'forget it, we don't even want to deal with it.' Bitcoin seems like the most untraceable way, but still risk of having CA account flagged or frozen or shut down cutting off your source. Then you have to re-open a new one? Feedback and insight from professionals in this area would be most appreciated. Disclaimer - I do not want to conduct a CA scam. I want to understand how this works so I can better protect myself and work through the dispute resolution process with my bank, the police and CA.
Not me-- but a friend— has begun exploring bitcoin. Questions and suspicions arise. Outside of a general/ vague awareness of btc, this is a whole new world to me. I sense that many possible scams and pitfalls (thank you, folks, for posting useful info on this sub) may litter this landscape for new investors. I feel like I'm seeing some red flags. Can anyone please enlighten me, does the following ring a bell? Expected, legitimate?
After an initial investment of $500, the app that this friend is using is barring him from withdrawing profits because (according to a customer support chat) “Your trading account has more profit than what you traded for, so it has to be upgraded to a non-starter (silver) account to be able to withdraw the money—the profit is too big for a starter account to make a withdrawal.”
He cannot use “profits” in the account to pay to upgrade the account-- he is now being prompted to put more cash ($2,800) into the btc atm machine so that he can then make a withdrawal.
Also please assist-- possible/ how to transfer funds direct deposit to a bank account? Thank you kindly. EDIT/ UPDATE: Friend is still on the hook. He's being told a "technical glitch" is responsible for profits rising quickly to the point where the account needs to be upgraded. He's in contact with a 3rd party who is convincing him this is legit. um...
Purchasing bitcoins for a company - am I being scammed?
I applied for several part-time office clerk positions on Indeed.com and was offered a job from an IT company. The job role involved processing wage payments to developers hired by the company across national borders. For the one month probationary period, the company told me that they will e-transfer cash to my account, I will withdraw that cash from the ATM while keeping a % bonus for myself, and purchase bitcoins with that cash from specialized ATM machines. They also offered me a decent hourly salary, payable every 2 weeks. They did not interview me for the position, nor did they ask for my SIN. I just signed an agreement with my contact details. Naturally, this sent alarm bells ringing in my head. I looked up the company's registration in the federal registry and found that they had been registered in a Western province for 9 years. Is this a good enough assurance that I am not being involved in an intricate money laundering scheme? My manager told me I would be tasked with handling a business account upon confirmation of the job, but what's to stop them from screwing me over after a month, leaving me with suspicious bank transactions in my hand! It has been my first day on the job and I have already processed a minor transaction on their behalf, but I'm scared of moving forward with this company. As an international student, I would've got by fine with scrubbing tables at restaurants, but we're in the middle of a pandemic and this job offer was too good to pass over. Regardless, I don't want to jeopardize my future immigration application in Canada. Any advice is highly appreciated! PS: If there's any government agency where I can make an enquiry or file a report, do advise me.
My mother might have gave my card info to a shady company?(rant/help?)
Honestly I don’t really know what to do anymore...It JUST happened recently and I am slowly losing my sanity over it...sorry for formatting, spelling and such...This is the longest post I ever sent out so there is a TL/DR at the end. For context I am, while a lazy person, always lended my mother my credit card to help her financially (I am basically her second bank account of all honesty...) under the agreement that she spends that said money on essentials or in other situations she were to tell me what she is spending that said money on. Its a pretty simple agreement for me letting her use my card basically I pay for everything she either can’t cover or just needs Now the other day my mother was trying to use a website so she can get bitcoin...Honestly I don’t know much about it but I didn’t care as long as I wasn’t involved with it in anyway...The best i know is that you get bitcoins and you use it to get real money but thats all I know...Now for the rant for what happened on this beautiful day... During that day my mother had difficulty trying to get the Atm at her bank to work so she had to come back tomorrow to go to another machine further outward away from home. I had a long day at work 9hr shift so I was staying up past my normal sleeping schedule my fault really... When she got home at around 4:20am? She told me i had to get up early to take care of my sister since she is leaving early in the morning to sort out the issue I was a little upset at waking up so early but it wasn’t that big of a deal since my sister(she has special needs) is capable of taking care of herself she just needs supervision. So skipping all till what happened...Mom still isn’t back from wherever she’s at and suddenly my brother calls me which is odd cause he NEVER calls or texts me unless something tragic happened...he simply said he was going to drop me off work since my mother has the car. ok thats nice no big deal Its 2:30 I’m sure she’ll be back by 3:00...so around like 2:40 my mother calls me...and the first words that come out of her mouth is “Don’t get mad at me”...giving by the title you already know what happened...She said that her card wasn’t working so she decided to use my card instead to validate it for some reason I don’t know Iliterally saw red I hung up shortly after I heard the word “scammed” because I never wanted to scream at someone so damn much in my life until now...she actually had the gull to call me...twice...honestly this isn’t my proudest moment...I finally snapped at her and yelled at her telling her about our agreement and why would she do something like this...along the lines of how stupid of an idea it was to hand out my card infomation to anyone without my permission and how could I ever trust her with my card...thankfully no money was taken out of my account but i still disabled my card just to be safe...I just couldn’t believe she would do something like this even if they didn’t take any money just the idea of her giving out my card to shady things like this really makes me upset I honestly don’t know what to do anymore with this...I did eventually calmed down enough to apologize for yelling at her (over text) and that we would talk about this later... However just when you thought my day couldn’t get any worse...Remember me saying my brother had to pick me up and i had to go to work...its 3pm...she hasn’t showed up at all with no sign she will return anytime soon...So I was relieved to see my brother come up from the front of my house in one of his friend’s cars not his so i’m thinking, oh cool he is just going to stick around till my mother gets back...b-but he just opens the car door...waiting for me to get inside and he ain’t moving...So I told him my sister was in there...alone...he’s confused and asked where mom was at...If looks could kill I would’ve murdered an entire city...he didn’t know she wouldn’t be there...he thought she took my sister with her and I was by myself...I swear I don’t have a single clue as to how i didn’t scream at that sight so now I had to call of work (bless my manager’s heart for being so understanding though now that I think about it I did sound like I was on the verge of a mental breakdown so thats probably what made her say its ok...) So after what felt like hours I am over here trying to find out what to do now and how to handle this...I already know a nuke is going to set off I just need help as to how to lessen the blast... TL/DR My mother used my credit card for things I didn’t approve of and left me with my sister, I had to call off work and slowly lose my sanity.
I've been looking at these Bittellers and quite frankly I want one. I've been in the vending machine business for so long and the vending machines that cost $3 per transaction are the holy grails that people buy when they "make it" absolute freaking gold mines. $3 per transaction is nice, but what's nicer is charging people a percentage of the entire withdraw and them actually paying it! (bitcoin atm) So here's my question; how would one of these do at a flea market or something owner attended like that? I don't trust something the size of a toaster that costs $600 and has 2k worth of bitcoin in it to not sprout legs. Just personal experience as to unattended things sprouting legs. I've seen these things at flea markets on the Bitcoin ATM locator, but I'm wondering if the locator is the driving force behind sales or if people are willing to walk by and either add Bitcoin to their existing wallet or try it out because they've heard of it. Also, the average fee for these things is 6.8% WHY WHY WHY are people actually paying that? The only thing I can think of is the tor users who don't want their id attached to anything. Thanks!
With Bitcoin Suddenly Surging, Canaan Stock Is Also Going Up Today
I keep seeing articles about how there's more and more bitcoin ATMs in the world, but they never mention if these machines are actually being used, or if they just stand around collecting dust? The only machine I've ever seen with ny own eyes has had an "out of order"-note stuck onto the display for ages, yet the ATM still shows up in a myriad of articles which uses it as an example of a local crytpo ATM. It seems that the machine is more if a token device used for the promotion of crytpo, rather than something people actually use, which has got me wondering if this us true for other bitcoin ATMs too? So how many users does these machines have on average? How often is there a transaction, and what percentage of BTC funds travel through these machines? I want to see numbers! :)
Hi, guys yesterday I registered to mystery shopper and today I received this email Dear Survey Agent , You Signed Up earlier on our website regarding "MYSTERY SHOPPING ASSIGNMENT". You have been Approved as one of our Mystery ShoppeSurvey Agent. I wish to congratulate you on the new job. I hope we will have your 100% loyalty and cooperation. Your quick response to mails and effectiveness will be required. You will be evaluating Wal-Mart Stores and DEPOSIT Services in your neighborhood, kindly check out for one Wal-Mart store and one Bitcoin (Bitcoin ATMs / Tellers / Machines) location you will like to evaluate, make sure the store and the BTC location you will choose are close to your area as much as possible. You will have to send the name and address of the two locations to us. Please note that you are to act Cool, Calm and Confident throughout the period which you will be carrying out your survey at the stores, in order not to arouse any suspicion. You will be shopping at Wal-Mart stores (you can buy anything in the shop and you are also allowed to keep purchases for free) and also make a transaction at the Bitcoin branch. You will be required to interact with the shopper clerk and write a report about the customer services, you will send your report back to us via Email, you will have to use the following pointers to prepare your report : 1) How long it took you to get services. 2) Ambiance/Outlook of the Shop/Outlet. 3) Smartness of the attendant. 4) Customer service professionalism. 5) Reaction of personnel under pressure. 6) Information that you think would be helpful. 7) Your comments and impressions. You may conduct the shop alone or as a couple. The assignment will pay $300.00 per duty and you are able to get up to 2-3 duties in a week depending on how fast you are able to execute this your first assignment. A package will be sent to you,inside the package you will find your Compensation payment and other funds you will use to carry out your surveying process. The package would contain payment in the form of Cashiers or Certified Check. You must not use your personal money to complete any of the surveying process and there will be no reimbursement of any kind since we are providing you with all the funds you will need to carry out the survey. An Evaluation Instruction will be given to you through email, this will tell you what to do at the Walmart and the Bitcoin locations and how to expend the funds at each location. Please reply to this Email and give us the name and address of the Walmart and Bitcoin locations you will be evaluating. Once again, this is a part time job and does not affect your current employment. You should let us know if you have any questions or concerns, we are here to answer any questions and ready to help with any issues. Looking forward to your prompt response today. Best Regards, James Gregory Senior Shopper Resources Supervisor Customer Research Inc. - Secret Shopper 2020®
An update to the BTC ATM I had put in my business...
Hey everyone. Back in mid December I had a Bitcoin ATM put in my shop and posted the great news to the sub. It was well received before I guess the ATM posts started being looked upon as played out. In the comments I mentioned that if you guys wanted, I would be more than happy to post some stats on how well the ATM was doing. I'll have you know I did some super diligent tracking the first month, but then afterwards it was looking as though I found a buyer for the shop and my priorities shifted. I don't have those hard numbers right now and I'll explain why at the end, but here's the general idea of how these ATM's do in the day-to-day...
Almost everyone has heard of bitcoin, almost everyone has no idea what it's about or how it works.
In the beginning a lot of people asked about the ATM. I told them it was for bitcoin and I even tallied if I deemed it to be a positive, negative, or indifferent reaction. Most people were indifferent. There were a handful of negative reactions, and after probing it turns out they either sold their bags long ago in a correction, or sold at what they thought was the top. A notable interaction I had with some customers was this pair of women who were young and looked/talked like the last sort of person you would imagine talking about BTC. When they opened up on it? Wow. They basically had the kind of mini debate on the topic that was extremely insightful on the base level. The kind of back and forth you would find even on here when relating to the future of bitcoin as money. I was really impressed hearing it, because it gave me hope that the every day person has the capacity to embrace it.
ATM's are scam central.
Someone commented in that last post over how popular these ATM's are with scammers. I was naive in thinking it would be a once in a while ordeal. NOPE. 90% of all the traffic the ATM gets is people getting scammed. Over the last few months it's gotten really easy to spot who's getting worked and who isn't. Here's the crazy thing...THEY DON'T LISTEN. At all. I've tried every possible method. I've tried pleading with their sense of logic. I've tried accurately telling them HOW they're being scammed without them telling me details. I've tried being on the mean side to snap them out of it. In the last 3 months I have only managed to successfully thwart one attempt, and that was by literally pulling the plug on the ATM. It was crazy. There was this old man...had to be in his 70's...on speaker phone with the scammer that was telling him what to do. It was so obviously a scam that I was pleading with this guy not to do it. He ignored me completely as he followed the instructions on the other line. Before he got the chance to put money in I unplugged the machine and told him to pass me the phone. Immediately after hearing that the scammer hung up and I finally was able to talk some sense to the guy. That's it. The only victory I can claim. Every other person thoughtfully listened to me and proceeded to feed the machine anyways. What's worse is how they ALWAYS say they're gonna try it once just to see and they won't be back....and they ALWAYS come back. The most common victim is older men in their 40's-60's, all helping their out of country/state girlfriends that they have never met. Other notable scams are the put x amount in and get double back, pay x amount for the supplies you need for this new job you're starting, and the ever popular bail bondsmen/IRS payment to avoid arrest (that was the old old guy's scam). It's so frustrating that now, when a new one comes in, I'll tell them that if they don't listen to my advice, that i will not lift a finger to help them in any way. Doesn't matter....they just keep coming back in as the scammer slowly juices them. -There is hope While the majority are love sick men that throw their money away until they're broke/fed up, there are SOME people that get it. They don't put in much, but they put some in every chance they get. I even have 2 or 3 people that understand exactly what bitcoin is and put some serious money in. Interestingly enough, the majority of the ones that get it and are using the ATM how it's meant are women. I help these people in every way i can, making suggestions and giving tips where applicable. Also, the simple presence of the bitcoin has its own affect. People see that it's not just some thing they see sometimes on the news. It's in their face and out in the real world. It's sparked conversations with people that simply needed a tiny push to believe it's not going anywhere. I even got one lady to buy a full bitcoin (i can only hope she listened to my advice on holding strong, because it was before the major correction a few weeks back) Conclusion- These ATM's and how they're used show a clear sign that to the everyday public, we are nowhere near close to mass adoption. But they are getting used, and every day it's in my store, it shows the everyday public where the future is heading. Unfortunately I don't have those hard numbers for you because as of yesterday, my business was closed by the health dept due to COVID-19 (Smoke shops are not considered essential). Sure, I could go back into the store and get those numbers, but I got much bigger things on my plate to worry about. My landlord has chosen to stay silent and use the property manager as a buffer to give vague answers as to what I'm liable for. As of today still no word. So yeah...kinda mega screwed for who knows how long in how I'm going to pay my bills. That is, unless of course I want to sink myself in debt with some SBA loan that will take far too long to even hope getting approved for (I tried applying for one when i opened over 8 years ago and the process took months, only to be declined). Now that I am ripe with free time, I figured i would take some of it to finally give some of you the info I promised. Be safe out there and wish me luck in not going under. If you have any other questions i'm more than happy to answer in the comments.
Bitcoin ATM (abbreviated as BATM) is a kiosk that allows a person to buy Bitcoin using an automatic teller machine. Some Bitcoin ATMs offer bi-directional functionality enabling both the purchase of Bitcoin as well as the sale of Bitcoin for cash. Bitcoin machines are not exactly the same as traditional ATMs but work in a similar fashion. Bitcoin ATM machine by ChainBytes with fast ROI, live support and KYC compliance are best solution for companies starting or expanding bitcoin ATM business. CHAINBYTES + 2-way Bitcoin ATM. Bi-directional Bitcoin ATM that supports Buy and Sell Bitcoin operation. Small footprint: 22″ (55cm) long by 24″ (60cm) wide by 70″ (190cm) height. CPU: G2020 Motherboard: Gigabyte H61 MEMORY: 4g RAM ... Find Bitcoin ATM locations easily with our Bitcoin ATM Map. For many Bitcoin machines online rates are available. Producers. Genesis Coin (4080) General Bytes (3362) BitAccess (1106) Coinsource (731) Lamassu (543) All producers; Countries. United States (9178) Canada (920) United Kingdom (286) Austria (148) Spain (104) All countries; More. Find bitcoin ATM near me; Submit new ATM; Submit ... Easily search from dozens of locations across Australia to find a Bitcoin ATM near you. The quickest way to buy and sell bitcoins in Australia. Bitcoin Automated Transfer Machine. Making use of Bitcoin ATM is really good, provided you can bear the extra charge to get your Bitcoins transferred to you and you can also find the nearest Bitcoin ATM in your location. Have it in mind too that some ATM near me require you to scan your ID documents, and may also ask for your phone number for KYC purposes. Whichever, this generally happens ...
I tried out a Bitcoin ATM for the first time. Unfortunately, it will also be the last time. The Bitcoin being sold was marked up an additional $2000 above th... In this video, we show the process of purchasing bitcoins via a Bitcoin machine. More info in this article - https://xpansa.com/blockchain/bitcoin-atm-owner-... Just a video for fun, sharing my experience with the Bitcoin ATM at OutPost Gamecenter in Ghent. They put the ATM at the darkest place possible, so it's real... https://www.bitcoinofamerica.org/bitcoin-atm-locations/ A bitcoin ATM is an Internet enabled machine that allows users to exchange bitcoins and cash. Unlike ... Unlike ... How do you use a Bitcoin ATM machine and why would you even want to? Watch me perform an actual BitcoinDepot ATM transaction live! 👇 Visit https://bitcoindep...