Comment on FTC: Over $110 million lost to Bitcoin ATM scams in 2023
Moonrise2473@feddit.it 2 months ago
I can’t think of any kind of legit use of a Bitcoin ATM
I see huge potential in helping laundering cash or transferring money to scammers, but otherwise?
chicken@lemmy.dbzer0.com 2 months ago
It’s kind of a pain to go through the process of signing up for a crypto exchange, so for some people it’s probably a more convenient and less intrusive way to acquire it.
Moonrise2473@feddit.it 2 months ago
Yes and no, the user is still forced to transfer that immediately (with additional expensive fees) to their wallet as the paper receipt is printed on that thermal paper that deteriorates in a few days - not something you do for convenience, it’s something you do for extreme urgency like need to pay hackers a ransomware decryption fee or other phone scammers
chicken@lemmy.dbzer0.com 2 months ago
I’ve never used one, why don’t they just like, have a camera to scan a qr code of your crypto wallet on your phone, and send it to that address? Anyway I don’t think it can be much worse than having to take a picture that includes your face, phone, id, and have to retake it 20 times because the exchange won’t accept it if it is slightly blurry, plus linking a bank account etc., needing to copy a private key and send another transaction seems like it would be way less annoying and creepy.