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Are Bitcoin ATMs anonymous?

No, DigitalMint Bitcoin ATM and Teller Window transactions are not anonymous. To become a customer of DigitalMint*, a person must provide a valid US Government-issued ID, such as a Driver’s License or State ID.

With Bitcoin, every transaction is publicly recorded on the Blockchain, and exchanges like DigitalMint, require identity verification to purchase cryptocurrency. Every transaction uses Bitcoin from a previous transaction, and the blockchain is a public ledger; therefore, every Bitcoin payment has a history that anyone can view. Addresses are entirely traceable, but they can’t always be linked to an individual or organization.

While Bitcoin is far more private than credit or debit cards, it’s still much less anonymous than transacting with cash.

*DigitalMint is a registered Money Services Business, and we adhere to all federal banking regulations, including the Bank Secrecy Act (BSA) and Know Your Customer (KYC) procedures. As required by the Office of Foreign Asset Control (OFAC), make sure all transactions are verified with personally identifiable information, to prevent fraud and prohibited activity.

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