Blockchain/Bitcoin for beginners 4: Bitcoin ATM – How to buy bitcoin

In this video Nadisha goes to the Bitcoin ATM in Shoreditch and buys some bitcoins, managed by her Iphone wallet app. All this is building up towards an in …


  1. Do these ATMs have access to your private key? What information is actually being given to the ATM when you present it with a QR-Code? Since Bitcoin is not backed by any bank, what's to stop some thieves from installing an ATM that looks legit and operates legitimately but is in fact storing your information for some future hack where it drains your account? With Bitcoins being stolen fairly often, I would seriously question whether these ATMs aren't playing a role in it as well.

  2. Hi Matt, kindly explain how to respond to the following message "Imported addresses Not backed up by your Recovery Phrase. transferinto a wallet to secure funds". My bitcoin was bought in 2014 and the only information on the wallet is my backup file. Please can you help?

  3. Excellent stuff. I didn't know you could buy this stuff at an ATM! One thing I don't quite understand – is there a finite amount/number of bitcoin which gets moved around from one person to another all the time? Does manufacturing it debase its value like printing conventional money? Who decides its current value?

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