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

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.

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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.

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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.

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Coinbase is a great program. Real easy to buy, sell and sit on Cryptos. I am unintentionally making money… haha!

Thanks @375benched always helpful! I read @Bigmurph guide to BTC and he recommended Mycelium because Coinbase doesn’t offer anonymity. I know nothing about wallets so I’m learning as I go.

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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

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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.

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Just installed Coinbase on iOS device. I had to enter my phone #, address, last 4 of my SSN, and answer questions about my income and employer.

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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. …

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Fuck that noise. Get Blockchain and use a BTC ATM

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I’m investing into pharmaceutical/medicinal Marijuana companies pretty soon they will be like big pharmaceutical companies. Stock is easy but in. But that’s me. :blush:

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You are a wise man! Great opportunity!

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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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Great article. 2 to 3% of where they’ll be. That would make for some big time ROI!

I use a blockchain for my wallet. And use the BTC ATM to put funds in to it.
Then send from my blockchain wallet

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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.

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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.

And… I should have checked the rates a little better.

$20-$99 is 12% + $3
$100-$499 is 10%

@TBU that motley fool link only goes to an email capture page. They won’t disclose the investment opp until you buy a subscription.