What they need: QR code of their wallet (we recommend AirBitz) and a phone they can get an SMS to, this is for any transaction under $1,000. if the transaction is over $1,000 but under $3,000 then they need to scan the magnetic stripe on their Government issued ID. And finally, for transactions over $3,000, they would also need to input their Social Security Number, address, full name, and some other details. This holds true for most of our Genesis ATMs but this can vary from ATM to ATM, you can check this guide to figure out the exact requirements for a transaction at our ATMs. Also, any transaction of $10,000 or more, or several $9,000 transactions (anything that looks fishy) has to be reported to Jonathan Macy in the Compliance telegram group.
How to buy Bitcoins for the first time from an EasyBit ATM?
- Our ATMs only receive cash.
- It is recommended to download a wallet app on your smartphone, we recommend AirBitz (edge) app, you should be able to download it from the Apple Appstore or Google Play.
These are a few general steps you can follow to buy bitcoins for the first time from one of our ATMs:
- Choose language > Press “Start” > Enter mobile number > Receive the validation code on your smartphone and enter it > Select “Buy Bitcoins” > Choose whether you already have a Bitcoin wallet (yes – scan it later, no – generate and print new one) > Scan QR code > Insert cash bills.
- If you already had a wallet, you should receive your bitcoins shortly. If you chose to generate and print a new wallet, you will receive a paper wallet. This paper will contain 2 QR codes, one will say “Private Key” and the other one will say “Public Key”. You must download a wallet app to your smartphone and scan your Private Key with it. Once you scan your Private Key, the bitcoins will be transferred from the paper wallet to your wallet.
Here’s a short video showing how to purchase bitcoins from our Genesis ATMs.
Here are a few links explaining how to import bitcoin from a paper wallet to several wallet apps: