Bitcoin ATM machines have become a common sight at busy mall kiosks across the U.S. and Canada.
There are hundreds of them across the country, and many are located at popular shopping malls.
The machines use digital signatures to verify a transaction, but that doesn’t always work.
Now, some customers have found ways to bypass the machine by placing a virtual currency in their transactions.
A reader emailed CoinDesk to share how he successfully avoided a $1 million dollar ATM machine at his local Walmart store.
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CoinDesk asked this reader, who identifies as a US resident, to share his story about using Bitcoin ATMs at Walmart.
The reader, whose name we will use only to protect his privacy, told CoinDesk that he used to be a “bitcoiner” before deciding to move to the U, so he was not familiar with the industry.
CoinTalk: The Bitcoin ATM scam The reader used Bitcoin ATMPs to purchase some Bitcoin and to use the machines at the stores to transfer funds.
Cointalk user John wrote: “It’s a good experience to get rid of some of the fear factor from buying the coins.
You are able to withdraw a small amount of BTC and spend that on things like clothing, accessories, electronics, and so on.
It’s also an amazing way to use bitcoin without the hassle of a bank account or an ATM.”
CoinTalk user Jon added: “This is a great way to make money when you can use bitcoins as a quick way to buy anything you can think of.
It is much more convenient than trying to wire money via wire transfer.”
The reader’s experience is similar to that of CoinTalk’s Jon.
Both users have tried to avoid the machines using virtual currency, but John did not go as far as using Bitcoins at Walmart or using Bitcoin ATM at a popular mall kiosk.
Jon said that the machines have been a big hit in the U and Canada, but he’s been unable to sell the coins at retail.
He also said he has not seen many other people using virtual currencies at Walmart, and he does not expect it to grow much in the near future.
“We have a few customers who use the Bitcoin ATM to buy some other items, but they’ve been unsuccessful so far,” Jon told CoinTalk.
“In my opinion, the biggest problem with Bitcoin ATM use is that people are going to keep buying and selling it.”
Jon told us that he would be hesitant to use Bitcoin ATMLas again because of the hassle associated with using the machines.
“The ATM can be quite frustrating,” he said.
CoinDegree: Bitcoin ATM scam The CoinDEGree user explained that the first time he used a Bitcoin ATM machine he was impressed with the transaction he made.
“After spending about a hundred dollars, I felt that I’d made a great purchase and that I had made a good choice,” the user said.
“It was worth it.”
But now, he says, the machine is frustrating to use because he cannot withdraw a dollar amount of Bitcoin at any one time.
“I was surprised to find out that there are ways around this, so I contacted CoinDesk and they offered to help me with some instructions on how to use a Bitcoin ATMD,” he wrote.
Coindegree customer Ben wrote: The transaction is verified on the blockchain, meaning that the transaction is visible on a public ledger.
If the transaction goes through, the Bitcoin client receives the money.
If it does not, it does nothing.
“But it is still very easy to use, and you are able, if you have the money, to withdraw it.
The ATM will automatically send the transaction to the correct bank account.
This way, you do not have to worry about withdrawing the funds,” he added.
CoinCoupon: How to spend Bitcoin online in your shopping cart?
CoinCourier user Jon said he used the CoinCoulter machine at a Target store and he was happy to use it again.
“This time, the customer I was dealing with did not ask me to give him a receipt,” he told CoinCouch.
“He simply wanted to purchase a gift for his daughter.
He did not mention that he was going to use bitcoins to buy the gift.”
CoinCouter: How does CoinCout work?
Coin Cout user John shared that he received a payment from CoinCroucher.
“CoinCout is a Bitcoin-based payment processor that offers a range of Bitcoin payment services to help merchants and retailers make efficient and efficient payments to their customers,” CoinCOUrier explained.
Coin Couts service is limited