Originally posted by me (Gino Rossi) on 1/10/16 at:
http://bitsabio.com/blogs/news/83255873-inside-bitcoins-conference-in-san-diego-california-2015
On Tuesday November 3, 2015 I was able to attend the grand opening of a Bitcoin ATM machine in OB San Diego. The ATM is located at 4796 Niagara Ave, San Diego CA 92017. Currently the ATM is a one way ATM allowing you to buy bitcoins, soon they will be replacing it with a two way ATM machine. The ATM is manufactured by Coinsource and it is part of a growing network of Bitcoin ATM machines they are deploying across the country.
Key Take Aways:
Transaction fee at this ATM is set at 7% at this time
For purchases of Bitcoin over $1,000 the machine will require to scan your drivers license or some other form of id
The price of Bitcoin at this ATM is paired with the Coinbase exchange
How it Works:
Select “Buy Bitcoins”
Provide phone number in order to receive a confirmation code
Enter confirmation code in order to proceed with your purchase
Select the amount of US dollars worth of Bitcoins you wish to purchase
Deposit the US Dollar bills to cover your purchase
ATM will ask for your drivers license or id ONLY IF you are purchasing over $1,000 worth of Bitcoins
Confirm purchase
ATM machine will print out a receipt with your public & private key which you can scan into your mobile wallet
In the future this type of ATM will be able to accept debit cards for your purchases, that type of feature is not yet activated on this machine but it could be turned on soon.
The ease of use of this machine shows how far the technologies associated with Bitcoin has come, the idea that you can take your money across borders and retrive it when you want it and when you need is a liberating one. Test out ATM machines near you, it’s easy to find them by visiting sites like BitScan& others.