Cashing Out Bitcoin Using ATMs: Popular Youtuber Successfully Turns $16K in BTC Into Cash

On January 23, 2021, the popular Youtuber Mambafx published a video of himself withdrawing $16,000 in cash from bitcoin ATMs. The video shows how it took multiple bitcoin ATMs to complete the process but by the end of the 17-minute film, Mambafx withdrew over $16k by selling bitcoin to the automated teller machines.

Mambafx is a popular popular trader on Youtube and various social media outlets. Just recently, he filmed a video about cashing out some bitcoin. In a previous Youtube video, Mambafx showed how difficult it was to cash out $5k in bitcoin (BTC) by leveraging cryptocurrency ATMs in his region. In his latest video shared with 86,000 channel subscribers, Mambafx successfully cashes out over $16k in bitcoin.

Of course, the process of cashing out $16,000 worth of bitcoin and turning it into cash wasn’t easy. Even at the very first bitcoin ATM Mambafx visited that allows individuals to sell bitcoin said that it would let him take $15k. However, after reading the machine’s terms of service (ToS), Mambafx was only allowed to take out $2,900 in cash and all of it in $20 bills.

The trader also told his Youtube subscribers how BTC’s price was on a tear and he had made a few thousand dollars extra before cashing out. Further, Mambafx said that he may even attempt to do a $100k withdrawal next and asked his fans if people would like to see that video in the future.

Despite the success in withdrawing $16k, Mambafx said he suffered “10% losses on these withdrawals” when using these bitcoin ATMs. Just before visiting the first bitcoin ATM Mambafx said: “So we’re gonna go into the mall, hopefully smoothly withdraw $20k, very f***ing unlikely, but we’re gonna try and see how many of the ATMs we gotta go to.”