Topic: Are there some charges to use Bitcoin ATMs ? - page 2. (Read 454 times)

Bitcoin ATM are not like open software where anyone can make something for the community and make it free. For Bitcoin ATM to function, there must be a payment gateway embedded withing the ATM which is not going to be free, so any company or entity trying to construct one for people to use will definitely has to charges. We haven't talk about the electrical bill to power the machine everyday for customers to use, we also have license money to be paid, you can't just use one if you are not approved.

The company or entity who want to make this public for people would be the one to pay for all this charges and in other to get back money invested, they have to charge customers anytime they sells their Bitcoin through the ATM or buy some Bitcoin through the ATM. There are some merchants who only buy Bitcoin through their ATM, they don't sell and that's because they value Bitcoin so much and they always want to hold.

The country we I'm has not started using Bitcoin ATM card and machine for a transaction, but I believe they must be a charge attached to it, when it comes for a maintenance and can never be free to avoid abusing in usage, hence Bitcoin is more than a gold.

using a bitcoin ATM machine there is a charge that you will pay depending on the transaction you are making I have seen many people who lamented over bitcoin ATM machine charge is very expensive, for them to say that they charges of Bitcoin ATM is high that means it is obvious that Bitcoin ATM have its own charge as bank have their own charge when you transfer to it Bank ATM machine weekly or monthly there will be a specific amount of money will be deducted from your bank as a charge why bitcoin ATM machine you will pay the fuel instantly along with your Bitcoin you want to transact.

he has made his own research concerning the countries that uses bitcoin ATM machine for transaction but the link you learn that so far will help op to normal of countries that have a bitcoin ATM machine, how many of us who is into this community have not make use of Bitcoin ATM machine before because not all the countries are supportive of Bitcoin ATM machine that is why some many people find it difficult to explain of Bitcoin ATM machine. Think about the charging of transaction fee of ATM machine it depend on the amount of Bitcoin but you want to transfer to it, and eat will understood that Bitcoin transaction cannot be differs or the charges you will pay for $1,000 will not be as same charge that will be needed for $5,000 worth btc.

I always Lament on it because many people who transact with bitcoin ATM machine always complain that the charge they pay on bitcoin ATM machine is time's two the charges they spend on exchange, so for me bitcoin charges in ATM machine varies on the amount of the transaction you are transacting with, they does not charge base on random or ratio of bitcoin, but depends on the gravity of bitcoin you transact, but for me I will like a situation whereby we use an exchange to transact on bitcoin since the transaction fees of bitcoin in ATM machine is high.

Still growing, after CoinCloud went bankrupt and pulled of thousands and the rebranding of BitAccess the growth has resumed, we're back with 2 000 new ATMs in the last 6 months.
https://coinatmradar.com/charts/growth/

As long as you find a few customers who want to dal only with cash and the rent is cheap you're going to find clients, there are millions out there who would buy gift cards or pay via paysafe for example rather than using a bank, and with ATMs also offering lately usdt to buy and sell the customer base is there.
I don't think it's a matter of convenience but a matter of no choice other than this for some!


That's the fee, they add the fee to the price, and they charge you 10% they will ask for 77k for a BTC not 70k.
The same when selling, the fees get deducted directly from the price, pretty normal as they can't charge you otherwise legally than with a flat fee, and that would be more problematic.

Using Bitcoin ATMs is expensive. The price of convenience, and these are great if you need Bitcoin right now. However, unlike peer-to-peer transactions, there's a premium - sometimes large. Fees atop fees might eat up a lot of your transaction.

ATM corporations arent nonprofits. They have to acquire machines, rent spaces, and maintain. Someone must pay for that. Free ATMs usually mean the corporation makes money elsewhere, like the exchange rate.

I know the fees are annoying, but sometimes quickness and accessibility are worth it. ATMs help Bitcoin's goal of inviting everyone to the table. A tradeoff, plain and simple. Always compare prices before clicking - a little research goes a long way.

Demands on using Bitcoin ATM drop because expensive service fee and in some countries, governments force KYC to use Bitcoin ATM.

KYC is not a condition that is favorite by many people who have Bitcoin and want to use their bitcoins.

Why KYC is extremely dangerous – and useless

Bitcoin ATM law: a quick overview
Bitcoin ATMs: A beginner’s guide to Bitcoin teller machines

Stay calm and patient, guys, this is indeed a question that looks absurd and just asks without thinking whether the thing being asked needs an answer or not.
Though, the topic of Bitcoin ATMs is quite a lot and many references are available to find out the Bitcoin ATM Fees for each ATM machine used.

No Bitcoin ATM machines are free and Bitcoin ATMs are more expensive than Exchanges,
and now ATM machines seem to be decreasing and many are not being used.

Yes there is some charges  when using the bitcoin ATM machines and sometimes the charges depend on the current price of bitcoin. And the charges rages from 7% to 15% the one I’m aware of, and they don’t sell at the same price as the bitcoin, they always claim to increase the value of bitcoin in their AtM, and also keep the price at a very high rate, sometimes if someone sent you 1k bitcoin it will turn into 800 by the time you will receive or 760, I don’t really like the price of buying bitcoin via ATM, I prefer using the exchange or any normal wallet to buy.

It is just common sense that whichever company sets up the btc ATM will charge the fees for such services. No company will provide a service that won't get any fee. This is why any company who will put up these ATMs should be knowledgeable on how to deal with crypto so as not to shove their company to bankruptcy.

Also, not many crypto users are using btc ATMs to cash out their crypto because of the relatively high fees compared to online exchanges. Most users who will use the actual btc ATM are just trying it for experience purposes. Once they learned how to use it and knew the transaction fees, they won't use it again.

is only the el Salvador based tha have the full knowledge of it either they are charges on bitcoin ATM.i have not been there before, but i strongly believes that as long as  bitcoin has been legalis  in the  country. there should be charges for card maintenance.

If you ever don't understand why nobody will hire you to promote something in your signature (given that you offer it), then return to this topic and try to understand the absurdity of your question. Is there any private service anywhere in the world that does not have to be paid for?

Crypto ATMs are not devices set up by good fairies, but people who want to make money by charging a (mostly) very high commission for each transaction.

What if you don't want to use a centralized solution that would know you have made a transaction with a person that is involved in hundreds of deals?
What if you don't want a complete stranger to know your bank details?
What if you have only cash?

There are ATM operators (I won't give you names) that go from 10 000 euros to zero in a matter of one day or two, guess why those people prefer to go to ATM rather than p2p.


There are a few operators that display their balances for the ATM both online and physically, I've checked a few and I was amazed at how much those change from morning to midnight, with 37 000 machines and more coming up, do you think they have no market?

Totally agree with this one, I see Bitcoin ATMs not as a convenience but as a way to just flaunt that you've got a bitcoin and in my opinion, using them will probably make you a target for criminals that have some knowledge about bitcoin. Regards to usage, this is definitely true, I'd rather have the easier way of doing transactions with bitcoin rather than that of using ATM to do it, much safer and I don't feel like I'm giving away that I'm using bitcoin. The only reason why I want bitcoin ATMs to exist even if I don't like to use it is the fact that there's going to be a time that someone including me that might absolutely need, don't want things for me to happen again where I ask for something and I can find it and that there's stories of crackheads and hoodlums that try to pry open a bitcoin ATM because they thought it's got money inside it.

Obviously they will charge fees mate. They need to cover the operating costs and hence they are bound to apply fees in the transactions. If they don’t publicly show the fees, they will adjust it in the price of Bitcoins. Hence you will find often the prices are expensive compared to any exchanges. I myself have never tried any Bitcoin ATMs as these are not available in my country, but definitely have heard about this from my friends.

I rarely used bitcoin atms due to the fees. Even in the early days of bitcoin. Usually if you want to buy they charge you something like 10% and same with selling.

Only time I used one was because there were no fees for selling bitcoin only fees for buying. This was I think during the 2017 bull market where most of the demand was on the buying side and not for selling.

These days nobody uses these because you need to KYC and you are better off using an exchange with lower fees for that.

I don't have any Bitcoin ATM in my country so I can't give you exact answer but I think Bitcoin ATMs charge more fees because when we withdraw money from bank the fee is very less but when we withdraw money from any ATM to pay more fee. Either way considering this, we must see that the fees will be higher if you transact from a Bitcoin ATM. You can never use a Bitcoin ATM for free, you must use it for a fee.

To answer the question, I think I'm correct that the transaction fee is also in bitcoin or stosgi, but I'm not sure because I can't find the topic that is all about that bitcoin ATM. If I don't remember the OP, it mentioned a bitcoin ATM, but the thing is, not many people are using it like regular ATMs. Maybe it's because of the high transaction fees, so I came to conclude that the transaction fee is also in bitcoin, but is it worth it? I don't think yes, because paying for transaction fees in bitcoin is like a waste of assets. So if I'm correct, I hope those bitcoin ATMs will switch to fiat currency payment when it comes to transaction fees.

This bitcoin ATM is only, I think, implemented in one country as of now. Well, it's understandable because not many people will use it anyway, but of course it's good that it exists. At least we know there are more options for transferring or getting the money.

There is always a fee for any service involving bitcoin - but I'm not sure how much it is at each of the ATM currently available. It's possible that each ATM has different fees depending on the third party service they use - so it's not exactly the same from one to another.

Simply put ATMs are almost the same as centralized exchanges - they charge you a fee so the service will keep running. It can be said - nothing is free in this world, especially if you want to buy and sell bitcoin, including at ATM.

Yes there are fees, and on top of that they often have an agreement with a certain exchange so that the coins sent to an ATM go directly to an exchange address and land on the market ASAP because they can't afford to hold it, so you'll get that exchange's rate. Int can be different from the average, or what you see on large price indexes.


10% minimum? that's crazy. I've been using ATMs in a few central EU countries like Germany and the fees were 4-5%. I'd never use an ATM that charges me 20%, that's theft in broad daylight

Hmm, it's pretty interesting, but unfortunately in my country we don't have a Bitcoin ATM. So I don't have much more words about it—how it's working, how much it costs,blah blah.
 
But anyway if Bitcoin ATMs have a high fee and are more expensive. So why don't we need to do a P2P exchange rather than an ATM exchange. Because if we look at the Bitcoin ATM fee so it is quite expensive. There is a 10% to 23% fee on average transactions, it depends on the county, but actually used this fee.
So i think if we use p2p instead of ATMs, which directly transfer other people's cash up it will not be better. Because firstly, you pay the Bitcion fee and then the transaction fee and then the fee of the fiat currency, so it all becomes quite expensive. 
 
So, in my opinion, Bitcoin will be less expensive in p2p exchange than ATMs. As of now, the world has not gained enough adoption compared to Bitcoin's fiat currency, so its service charges will also be higher in comparison to the lay ATM.