Published on December 30th, 2020
Updated On August 16th, 2024
Ben Seton
Key Points
Personal privacy is a big part of the cryptocurrency revolution. Sure, there is far more to it than that, but the anonymous nature of many elements of the crypto world has strong appeal in the 21st century.
In a time when it seems like you have to hand over your personal information for just about everything – knowingly or not – it’s nice to feel like you can regain some degree of control over your identity.
Without a doubt, if you hope to purchase bitcoin as anonymously as possible, you will want to use a Hermes bitcoin ATM. This is the method that offers the best overall balance of anonymity, convenience, and safety. If you have been hesitating about jumping into the crypto world because you didn’t know how to get started or how to make a purchase without turning over personal data, a bitcoin ATM is the ideal solution.
This is the main point of this article, so we might as well start here. When you purchase bitcoin at an ATM, you can remain largely anonymous while doing so. For example, if you buy bitcoin from an Hermes Bitcoin ATM, you will only need to provide your phone number for purchases of $999 or below. The phone number is simply used to send you a confirmation code that will be entered into the machine before the transaction is completed. So, if you plan to stay under $1,000 with your purchase of bitcoin, you won’t need to produce a photo ID or any other personal information. Simply produce a phone number, supply the machine with the cash that you would like to convert to cryptocurrency, and you’ll be all set.
Bitcoin ATMs are a private way of doing business. Ensure you are using a compliant and established ATM such as Hermes Bitcoin. Finding a Bitcoin ATM is as simple as doing a Google search.
When you hear the word wallet, you probably think of a traditional wallet that holds some cash, your debit cards and credit cards, and your ID. A crypto wallet, also referred to as a digital wallet, has some similarities to a conventional wallet.
It stores the information necessary to access your accounts (like your ID) and a way to directly access your funds. Unlike traditional wallets, however, there isn’t any fiat currency stored in a crypto wallet… but more on that later.
In the simplest terms, a cryptocurrency wallet is a software app or physical device that stores a pair of keys that allow you to hold, access, and use digital currencies like bitcoin.
So, we have seen so far that bitcoin ATMs are a great way to buy cryptocurrency. But how do they work? Let’s walk through the process of how you buy bitcoin at a Hermes Bitcoin ATM to show you just how simple it is:
The process starts by finding an ATM near you. You can use our Locations page to track down the best spot to stop and make a bitcoin purchase.
For purchases of less than $1,000, you simply enter your phone number and wait for a code to arrive on your phone. Then, that code is entered into the machine and you are ready to start your transaction.
Next, supply the machine with the amount of cash that you would like to turn into bitcoin.
To have the crypto added to your digital bitcoin wallet, you scan the QR code for your wallet and the bitcoin will be deposited shortly.
Once you see that the bitcoin is present in your wallet, the transaction is finished and you can be on your way.
Bitcoin ATMs are a private way of doing business. Ensure you are using a compliant and established ATM such as Hermes Bitcoin. Finding a Bitcoin ATM is as simple as doing a Google search.
Hermes Bitcoin makes it even easier to locate Bitcoin ATMs in Los Angeles and Orange County with locations spanning from Northridge down to Anaheim, you can find the one nearest you using their Bitcoin ATM locator. All you need to do is:
A crypto wallet works by using two keys: one public and one private.
Your public key is your wallet address and is used by those who want to send you cryptocurrency. This address is a mix of numbers and letters that is usually between 26 and 35 characters long. To make this address more usable, it is often displayed as a QR code that can be scanned by a smartphone camera.
It is safe to share your public key with others as it can only be used to add funds to your crypto wallet and cannot be used to detract funds or see what is inside your wallet.
Your private key acts more like a PIN or verification code that is used to verify you are the cryptocurrency owner and allows you to spend it. As the name suggests, your private key should remain private and only known to you.
Your private key is a really long string of numbers – 256 characters in the case of Bitcoin. To make it easier for people to use, most crypto wallets will share your private key with you as a seed phrase, which is also called a recovery phrase. A seed phrase is an ordered sequence of 12 to 24 words.
It is best to keep your seed phrase written on a piece of paper precisely as displayed when setting up your crypto wallet. We recommend locking this piece of paper up in a vault or another equally secure place. NEVER share this information with anyone.
It might be easier to think of your crypto wallet as a keychain because the only information that it stores are your public and private keys. Your cryptocurrency lives on the digital ledger known as the blockchain and is encrypted with the information from your wallet that states you are the owner.
Fun Fact: The reason it isn’t called a keychain is that when Satoshi Nakamoto launched Bitcoin, there was already a popular password-saver product called “keychain”.
Bitcoin ATMs are a private way of doing business. Ensure you are using a compliant and established ATM such as Hermes Bitcoin. Finding a Bitcoin ATM is as simple as doing a Google search.
Hermes Bitcoin makes it even easier to locate Bitcoin ATMs in Los Angeles and Orange County with locations spanning from Northridge down to Anaheim, you can find the one nearest you using their Bitcoin ATM locator. All you need to do is:
Now that you understand how cryptocurrency wallets work, let’s get into the different characteristics of a wallet. Crypto wallets come in many different formats, but before deciding which one will work best for you, it is important to know the different types of wallets:
A non-custodial (or self-custodial) wallet gives you full control and ownership over the assets inside. Funds can be freely accessed and used at any time, without approval from a third party. This wallet type was developed by Satoshi Nakamoto as part of the Bitcoin protocol.
With a non-custodial wallet, you’re in charge of your private keys (or seed phrase). As we mentioned before, your private key is your secret-keep it to yourself. It’s a good idea to keep this info somewhere super safe, like a vault. And remember, NEVER share it with anyone.
When talking about non-custodial crypto wallets, the terms hot and cold refer to internet connectivity. A hot wallet is always connected to the internet. This constant connection makes it more vulnerable to a cyber-attack than a cold wallet that does not require an internet connection and is stored offline.
A hot wallet could be an excellent option for someone who does a lot of transactions from their crypto wallet. In contrast, a cold wallet might be a better option for keeping long-term crypto holdings.
Hot wallets are also called software wallets, which are apps that can be downloaded on your smartphone, Internet browser, or computer. Because they can be easily accessed from your phone or laptop, hot wallets are great for taking advantage of market opportunities to do swaps or trades, or for online shopping. Some hot wallets even let you buy or sell crypto directly from the app.
The CoinFlip Wallet is a non-custodial hot wallet that supports the most popular cryptocurrencies. It’s free to download and comes with 24/7 support from our Chicago-based team.
A more accurate name for a cold wallet is a hardware wallet. Cold wallets store your private keys on a physical device like a USB thumb drive. When making a transaction using a cold hardware wallet, you must plug the device into your computer and enter a pin. While plugged in to the computer cold wallets can perform online transactions, but once you’re done using it you can unplug it to take it offline, where it cannot be accessed or hacked.
A more accurate name for a cold wallet is a hardware wallet. Cold wallets store your private keys on a physical device like a USB thumb drive. When making a transaction using a cold hardware wallet, you must plug the device into your computer and enter a pin. While plugged in to the computer cold wallets can perform online transactions, but once you’re done using it you can unplug it to take it offline, where it cannot be accessed or hacked.
Now that you have a basic understanding of crypto wallets, you may be ready to get started buying and selling cryptocurrencies. If you need additional help, our Customer Support team is available 24/7 and can guide you through the process of setting up your crypto wallet. Additionally, CoinFlip Preferred’s knowledgeable client managers, can address any crypto wallet inquiries, especially if you’re interested in purchasing crypto via wire transfer.
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2. Lorem Ipsum is simply dummy text of the printing and typesetting industry. the industry’s standard www.hermesbitcoin.com/how-to-purchase-bitcoin-from-a-bitcoin-atm
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Bitcoin ATMs are a private way of doing business. Ensure you are using a compliant and established ATM such as Hermes Bitcoin. Finding a Bitcoin ATM is as simple as doing a Google search.
Hermes Bitcoin makes it even easier to locate Bitcoin ATMs in Los Angeles and Orange County with locations spanning from Northridge down to Anaheim, you can find the one nearest you using their Bitcoin ATM locator. All you need to do is:
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Yes! When you use a bitcoin ATM to buy your crypto, you can complete the transaction while providing nothing other than your phone number (as long as the transaction remains under a specified limit).
There are many ways to use bitcoin in an anonymous – or mostly anonymous – manner. For example, if you would like to make a purchase at a store that accepts bitcoin, you can use your digital wallet to transfer the necessary bitcoin to the retailer without producing ID (unless ID is required for another reason, such as the purchase of alcohol or tobacco).
And, if you purchased that bitcoin at an ATM, you may have only needed to use your phone number to acquire the bitcoin, so your ID would not have been involved on that end of the process, either. Of course, you will not be able to use bitcoin anonymously in all applications, so it depends on how much you want to buy, what you want to use the bitcoin to purchase, and more.
It’s possible in some situations to buy bitcoin and other cryptocurrencies with a credit card. With that said, there are plenty of risks involved in doing so, and you won’t be approved to make such a purchase in all settings.
For example, if you want to buy bitcoin at an ATM, you will need to provide cash to complete that transaction – you won’t be able to put your credit card into the machine and receive bitcoin in exchange. If you would like to make this kind of purchase, you are going to need to confirm that it is allowed by your credit card company first.
Also, it’s necessary to check on the policy of any exchange you want to use, as rules and regulations will vary from one to the next.
Yes, you can purchase bitcoin without turning over your Social Security Number in the process. When you buy or sell bitcoin at an ATM, it will not be necessary to produce your SSN. Depending on the amount of the transaction, you may need to provide only your phone number, or you might need to supply your phone number and a photo ID. Either way, your SSN will not be involved in the transaction.
Bitcoin ATMs are rapidly growing in popularity. If you are in the Los Angeles area, you’ll be able to find a LA based Hermes Bitcoin ATM in many locations in and around the city. For those in metropolitan areas outside of Los Angeles, ATMs that buy and sell bitcoin continue to pop up in various locations, so a quick internet search should reveal a machine that you can visit without going too far out of your way.