You can withdraw, ie you send your bitcoin to the atm and it gives you cash, which would be useful if you wanted to cash out from whatever illicit activity you chose to use bitcoin for, if not for KYC laws and the fact you have to enter your social security number
So since they offer the same service as an exchange there only really used by people who want to use crypto but don’t know how to use an exchange, ie people getting scammed, who probably aren’t withdrawing.
no cause bitcoin isnt physical. i assume you can buy and transfer bitcoin there and pay a service fee. but its mostly for scams. People get tricked in various ways to thinking they need to pay someone. Its not far off from the gift card scams people try on the phone.
what do these atms spit out? do they even give anything?
You can withdraw, ie you send your bitcoin to the atm and it gives you cash, which would be useful if you wanted to cash out from whatever illicit activity you chose to use bitcoin for, if not for KYC laws and the fact you have to enter your social security number
So since they offer the same service as an exchange there only really used by people who want to use crypto but don’t know how to use an exchange, ie people getting scammed, who probably aren’t withdrawing.
no cause bitcoin isnt physical. i assume you can buy and transfer bitcoin there and pay a service fee. but its mostly for scams. People get tricked in various ways to thinking they need to pay someone. Its not far off from the gift card scams people try on the phone.
I put ten thousand dollars in one and it gave me chuck-e-cheese tokens