How to Use a Printed Paper Wallet from a Crypto ATM Receipt

How to Use a Printed Paper Wallet from a Crypto ATM Receipt

Chances are pretty high that if you are reading this article, you purchased some bitcoin (or other cryptocurrency) from a crypto ATM and instead of using your own previously created wallet address you let the machine generate a new address for you. Here are some instructions on how to use this paper wallet at a crypto ATM receipt:

First, you will want to locate a crypto ATM. You can find a location here

Second, check out our page on how to buy cryptocurrency from a crypto ATM

Note: Not all ATM machines support generating and printing of address on receipts, many don’t even support printing receipts at all. So here‘s a list of known crypto ATM types, which can generate and print paper wallets:

  • All Genesis Coin ATMs (Genesis1, Satoshi1, Satoshi2)
  • General Bytes two-way BATMThree model (the one-way BATMTwo doesn’t support this function)
  • BitAccess machines
  • BitXatm

Crypto ATM receipt with access to purchased bitcoin

When you use one of these machines and choose an option to generate an address for you (you don’t have your own wallet) the ATM machine will print a brand new paper wallet for you at the end of the process or before the purchase, which normally will contain a public key (at the top of the receipt) and a private key (at the bottom of the receipt). Similar to this one:

 

At some crypto ATM models, like BATMThree for example, the public key is located at the bottom on the opposite side, but generally speaking it should be clear wherever it is located on the receipt.

As you may already know, a public key (actually it is a bitcoin address in this case) is something you can show to others (in this case they will be able to send funds to this address and see a balance – it is similar to having viewing access to a document). However, the private key is something you need to keep in high security. Anybody who has access to the private key can use it to send cryptocurrency from the address. Do NOT share the private key with others!

How to use bitcoin from a crypto ATM receipt

It is a general practice to sweep bitcoin from a paper receipt as soon as possible and it is highly discouraged to use a paper receipt as a form of paper wallet storage. The address that was generated by the crypto ATM is a second best option; in other words, the machine was compromised – there is a high potentially of a vector of attack to access your funds. Knowing this you will want to sweep your cryptocurrency from your paper wallet or you can avoid this situation altogether by having your own wallet/address.

It is also important to understand the difference between importing a private key and sweeping it. We recommend always sweeping the cryptocurrency from your printed private key because when you import a key, the cryptocurrency still controlled by the same key even though you can use your wallet to handle them. Sweeping, on the other hand, sends your cryptocurrency to a new address, which is controlled by a new private key. This means that if someone has access to the private key printed by a crypto ATM they won’t be able to access your cryptocurrency anymore, which is not the case if you just import the key.

So you may be asking yourself, how does one use the cryptocurrency from this receipt. We recommend using one of the mobile wallets available. Depending on which phone you use you can choose either Mycelium (for the Android platform) or Breadwallet (for iOS). Below are instructions on how to use each app in order to import private keys.

 

Sweep cryptocurrency from a receipt using Mycelium app

Before you proceed with sweeping crypto, you need to install the Mycelium app and create a wallet on the app. This will be done by default. It is recommended to make a backup of your wallet before your first use. This is available by going onto the context men and writing down your seed words and storing them safely. This will guarantee that if you lose your phone or de-install the app, you will still be able to recover your cryptocurrency holdings from the wallet.

First, you need to choose an account you want to use (by default you have only one account):

 

 

Once you have created a wallet, click “Menu” on the top right and choose “Cold Storage”

 

 

Several options will then appear, you need to click on “QR code”

 

Now you need to scan a private key from your receipt (this is usually found at the bottom of the receipt). Once it is scanned with the address a balance will be displayed. This information relates to how much crypto you purchased from the ATM. Now click “Send”

 

 

In the list of options, choose “My Addresses” and once it is confirmed the funds will automatically be sent to the address in the account that was just created.

 

 

If you have several accounts you need to choose one and define the amount of crypto you would like to sweep (press “Max” to transfer the whole amount).

 

 

Press “Send” on the next screen.

 

 

Now that your cryptocurrency is safe and only you have access to it, you can send or pay with cryptocurrency using the Mycelium wallet app later.

 

 

Sweep cryptocurrency from a receipt using Breadwallet apps

Breadwallet is a popular wallet for the iOS system. You can find and install the Breadwallet app in the Apple store.

While setting up the the wallet, you will be asked to write down seed words. You can postpone this step but we highly recommend you do it from the beginning.

 

 

 

When you open your wallet, click on menu icon (three lines) in the top left

 

 

Then choose “Import Private Key” – the name is a bit misleading but you have to understand that the Breadwallet app is doing is sweeping the private key (sending crypto to a new address within the wallet but not actually importing it.

 

 

After you click “Import Private Key” scan the private key from your receipt (the QR code is typically located at the bottom of the receipt). The amount will be automatically detected.

 

 

When you send the amount you will probably receive a message ther there are not enough funds (as miner fees have to be paid). Breadwallet UI will suggest to reduce the amount by a fee. When you choose this option your amount of cryptocurrency will be sent to your address within Breadwallet. You can use it after for making a payment or sending to a different address.

 

 

 

Congratulations! You have successfully gained full control over the cryptocurrency you purchased using a printed paper wallet receipt. You can store the amount or spend it later.