October 2020

All About Bitcoin Depot Fees: What You Need to Know?

Johnnie Viramontes Oct 24, 2020

Bitcoin Depot is one of the largest cryptocurrency ATM operators in North America, providing cash...

Question 1. Are bitcoin ATMs safe?

Yes, but you need to be careful. Use ATMs from trusted operators, double-check fees before confirming a transaction, and never send bitcoins to strangers - scammers often target bitcoin ATM users.

Question 2: Which countries have bitcoin ATMs?

Bitcoin ATMs are widespread in the US, Canada, Spain, Germany, Switzerland and Austria. In some countries, they are restricted or banned. If you're unsure, check your local regulations or use a bitcoin ATM finder.

Question 3: How much does a bitcoin ATM charge per $100?

The fee depends on the specific machine, but it usually ranges from 4% to 25%. If the fee is 10%, you will pay $10 and receive $90 in bitcoins. Always check the fee before confirming a transaction.

Question 4: Can I withdraw cash from a bitcoin ATM?

Yes, but only at two-way bitcoin ATMs that support bitcoin sales. You send your bitcoin to the machine, wait for confirmation, and then take your money. Not all ATMs have this option, so check in advance.

Question 5: Are bitcoin ATMs legal?

Basically yes, they are legal in the US, Canada and most of Europe, but some countries have restrictions. They are banned in China and the UK, and some places require proof of identity for large transactions.

October 2020

All About Bitcoin Depot Fees: What You Need to Know?

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