Do Bitcoin ATMs work two way (BTC-cash)?

Discussion in 'Digital Currencies' started by TreasureHunter, Sep 25, 2014.

  1. TreasureHunter

    TreasureHunter Well-Known Member

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    Hi,

    Do Bitcoin ATMs only take fiat to turn into BTC or do they also hand out cash?

    If they don't work both ways, then they can't exchange. I don't know, I never even saw one - I just put myself the question.
    Since they are called ATMs, they should work both ways...
     
    TreasureHunter, Sep 25, 2014
    #1
  2. aleks

    aleks Well-Known Member Silver Stacker

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    there's different types some do some don't, seems to be a 70/30 split, the majority can't do cash out

    http://coinatmradar.com/
     
    aleks, Sep 25, 2014
    #2
  3. Load of Bullion

    Load of Bullion Well-Known Member

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    Here is a bit of a breakdown of many current Bitcoin "ATMs"

    1W=one way (buy bitcoin only) 2W= two ways (bitcoin to cash and back) KYC= Know Your Customer, AML= Anti-money Laundering.

    * atm4coin 1W & 2W Open source project..ongoing. Machine availability?
    * Bit-Wallet 1W & 2W No KYC functions.
    * BTC-O-Matic 1W No KYC functions.
    * Btcu 1W (possibly 2W) fake mobile no can be used, no effective KYC.
    * Cash2BTC 1W No KYC functions. (build yourself)
    * Flycoin 1W (possibly 2W) (requires 3rd party software for Bitcoin)
    * General Bytes 1W Optional fingerprint reader and AML options for operators. POS functionality including staff tips feature.
    * Hot Butler 1W Cash or CCs, no KYC features.
    * Lamassu 1W & 2W Offers document ID scan features. The operator decides.
    * Moneero 1W (possibly 2W) "Conforms to international AML/KYC standards"
    * Open BTC ATM 1W DIY (build yourself) 'Open Bitcoin ATM'
    * Pay Maq 1W
    * Skyhook 1W No KYC functions.
    * Tembusu 1W Optional ID scanner/thumbprint scan/AML features for operators.

    * Bit2Bit 2W Optional KYC/AML features including fingerprint scan for operators. Lite/Doge too.
    * BitAccess BTM 2W Document scan, mobile phone no. Optional?
    * Bitxatm 2W + POS, supports any cryptocurrency, KYC/AML options, fingerprint scan option.
    * BTCpoint 2W KYC options (fingerprint scan etc) for operators. Lite/Doge too.
    * Coinoutlet 2W KYC/AML options (operators decide) ID scan if required. Accepts altcoins if configured. Online shopping module.
    * Coinplug 2W AML feature (not known if optional) KYC? (Korean)
    * Diamond Circle 2W Visa/MC not cash. KYC (via bank CCs) and AML variances for operators.
    * Genesis1 2W Optional fingerprint reader/gov ID & bank card reader for operators. Lite/Doge too
    * Localbitcoins ATM 2W Nil KYC features.
    * Robocoin 2W Optional ID scan/palm vein scan/camera & optional AML feature for operators.
     
    Load of Bullion, Sep 26, 2014
    #3
  4. CoinATMRadar

    CoinATMRadar New Member

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    CoinATMRadar, Sep 26, 2014
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  5. trew

    trew Active Member Silver Stacker

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    Wow didn't realise there were so many
     
    trew, Sep 27, 2014
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