Questions tagged [bitcoin atms]

StormGlider Thu Oct 10 2024 | 6 answers 1307

I'm looking for Bitcoin ATMs with the lowest fees. I want to know which ones charge the least for transactions so I can make the most cost-effective choice when buying or selling Bitcoin.

DigitalDragon Thu Oct 10 2024 | 6 answers 1585

I've been looking into Bitcoin ATMs recently and I'm shocked at how expensive they are! I don't understand why the cost is so high compared to regular ATMs. Can someone explain why Bitcoin ATMs are priced so steeply?

Nicola Tue Oct 01 2024 | 5 answers 1287

Could you elaborate on the necessity of Know Your Customer (KYC) procedures for Bitcoin ATMs? Are these measures required by law or are they merely a recommendation from industry experts? If they are mandatory, what specific regulations or authorities enforce these requirements? And how does the KYC process work when using a Bitcoin ATM, particularly in terms of verifying the identity of users and ensuring the legitimacy of transactions?

Michele Mon Sep 09 2024 | 5 answers 1139

Are Bitcoin ATMs comparable to traditional automated teller machines in terms of their functionality and user experience? Do they offer similar services, such as withdrawing and depositing funds, or do they cater to a unique set of needs specific to the cryptocurrency ecosystem? Furthermore, how do they differ in terms of security measures, transaction fees, and accessibility? Understanding these nuances could help individuals decide if Bitcoin ATMs are a viable option for their financial transactions.

Silvia Sat Sep 07 2024 | 5 answers 1082

I'm curious about the business model behind Bitcoin ATMs. How do they generate revenue? Do they charge fees for transactions? And if so, how much? Additionally, do they have any other sources of income, such as partnerships or advertisements? I'd love to hear a detailed breakdown of how Bitcoin ATMs operate financially.