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Bitcoin with ATM and Mycelium... can someone tell me if I have this right?

Lawnsvcguy

Lawnsvcguy

Well-known member
I’m trying my best to learn BTC. I installed Mycelium on my iOS device. I found an BTC ATM close to where I live. I’ve read some tuts and watched some vids, this is how I understand it, assuming I’m trying to buy $175 USD worth of product from a UG Sponsor:
  1. At the ATM, click “buy BitCoin”
  2. Choose coin (Bitcoin)
  3. Choose “scan QR”
  4. Fire up Mycelium app, click “Receive” on “Balance” screen, and scan the QR code
  5. Insert cash into the machine ($100 x2)
  6. Press “finish” and done
The ATM I found says it charges 8-12% so basically $8-$12 per hundred. Assuming it charged me 12% of $200, that would be $24 so I would be buying $176 of BitCoin, which is enough to make my purchase.

Do I have this right? TIA for your replies
 
I always would just send it right from the btc atm. It sounds correct, like just sending bit to your wallet instead of directly to sponsor. My closest is 2 hours, so I lost money everytime I stored btc for even a day. Also, i think if you buy from atm, then when you send from your wallet you will incur some charge as well.
 
That’s correct. You can also send it directly to your sponsor as RNMuscle said, but be careful as the machine likely requires an SMS message to be sent to you then you have to confirm that the wallet you are depositing onto is yours. I’d hate to see someone get busted with tens of thousands of hundreds of thousands of bitcoin from AAS sales and it’s not even their loot.
 
Yes you have it correct.
I have a BTC wallet. And. I also use an ATM to put the funds in to that wallet. Then I send the money to the UGL from my wallet.
 
All: I know the price fluctuates. Is there a trend in terms of “time of day” that it’s lowest and highest? I’d hate to buy at peak and immediately lose money LOL
 
It definitely happens to just drop off. It also will take off and gain. It dropped around 1000 just in the last 24hrs. When buying I reccomend buying some extra and sending quickly unless you want to hold and you believe that it will make gains.
Btc was at 3000 a couple weeks ago and went upto 8000 in 2wks so it can change very rapidly.
I would recommend to follow the price before you buy to see what the trend is at the time before you purchase btc.
 
If you have a little bit to invest/ gambe with, buy some Stellar Lumens, XLM. This has been as high as .75. It’s at .125 right now, was at .15 yesterday. I have a bunch and i plan on sitting on them and buying more. I got in at .10.

There is some serious money being made through day trading crypto right now. Can you imagine being one of the lucky ones to get in on Bitcoin when it was unknown. …
 
Don’t have to dump a fortune. Just start small. Ameritrade. Do 200 bucks a month. Or payday. In 2 years you’ll be thanking me. Illinois will be legalizing and having laws like Colorado very soon. 5 other states are following suit.
 
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Yes don’t store a lot of money in the wallet.
It goes up and down too much.
I think I may have $25-$30 in mine at any given time.
Then when I’m going to make a purchase I use ATM load in funds and then immediately send it to who ever I am purchasing from.
 
Thanks everyone for your help! I ended up installing Blockchain for iOS, there’s an ATM nearby. Fed it $20 and it gave me $14.85 in BTC.

Couple of things to note: ATM required my phone number to text a PIN as well as my first and last name. There wasn’t a way around those questions without starting over.
 
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