ATM

longonbtc

The person that reached out to her offering to recover the funds is also a scammer. They may possibly be the same original scammer or related to the original scammer. Either way, it's just another scam and they are most likely going to try to get your friend's mother to send them cash or cryptocurrency. She should not send a photo of the front and back of her driver's license to the scammer. They will inevitably use the photos of her driver's license for identity theft and and probably also money laundering. Since she is now known to fall for scams, she is known as an easy target for scammers and she is now probably on a list of easy targets. You should tell your friend to tell their mother to stop listening to strangers on the internet giving her investment advice and telling her to sign up to random sketchy websites. Your friend's mother can report it to the authorities if she wants to but make sure that she knows nothing will ever happen from reporting it. Since your friend's mother is now known as an easy target for scammers and is probably on a list of easy targets, so I recommend that you tell your friend to teach their mother about various common scams and how to avoid them. A few examples would be to tell her to never buy bitcoin from a bitcoin ATM. If somebody on the phone tells her to buy cryptocurrency or gift cards for whatever reason, they are a scammer. The IRS will never call her. If a "friend" or "family member" emails them and tells them they are stuck in another country and need money, it could very unlikely be legitimate but it's also a common scam. Sometimes those scammers also call but that is less common. If someone calls and tells her she has an arrest warrant or court case and requests her to buy gift cards or cryptocurrency to settle the warrant/case, they are a scammer. If Apple/Microsoft tech support calls her out of the blue, they are a scammer. If any tech support ever tells her to buy gift cards or cryptocurrency, they are a scammer. And please tell her to stop listening to any investment advice that she hears of, or maybe consult with you first. These scammers often hack random peoples social media accounts and then makes posts talking about all the money they are making with this great investment company and tells friends to ask them for details. They often message the people that are friends of the hacked person's account and tells them about this great investment company they are making a ton of money with. I would guess that one of your friend's mother's friends' social media accounts was hacked and this is how she first found out about the scam. I'm just speculating but it's very common. >I’m wondering if the SIN number was just awful timing or if there’s a chance she sent it to someone if people ask for it? We don't know. Your friend would have to ask their mother.

Clean-Victory-7011

Old fud. There token isn't needed ATM but you always speculate on future cashflow. Their abstrxlaction layer for save just when into test I believe. This is the first of many stages to a whole ccip ecosystem burning link tokens

JimHummel

They’re all scared of losing their influence. Unfortunately, your safest bet is via kiosk/ATM though you’re probably going to be subject to some form of KYC.

LIGHT-WAFFLEZ

ATM by Occupy $ Mars is the best

Mazoku-chan

I said "I don't see it solving any issue ATM". Because it isn't doing it. >you can simply choose not to buy and use it. The same can not be said for mainstream currencies. You can't choose not to use them.

GreedVault

Yeah, but it's underground. Or they could go to Hong Kong and use the BTC ATM there.

__Ken_Adams__

A common story a lot of people have is that they heard about it once & ignored or dismissed it, then got more curious the second or third time they heard about it. I didn't have that experience. I was fascinated the first time I heard about it in 2013. I heard them talking about it in a technology podcast (I liked to nerd out on those while at work) and I immediately went home & started googling. It was $110 at the time & I told myself if it dropped below $100 I would buy one. About a week later it dipped & I thought it would be as simple as creating an account on some website so I jumped online all excited with my credit card in hand. I was in for a rude awakening & the buying process was so convoluted back then it took me a full week to get it figured out & be able to make my purchase. That worked in my favor as by that time it had dipped even further & I bought at $86. I think there was an 8% fee so the btc price must have been around $79 at the time. I kept buying with every paycheck for the next several months & eventually I put my btc to work for me by starting a btc ATM company. I eventually sold that business & now I get to focus all my time on hobbies!

AffectionateDuty6062

hahah, ive never once seen a crypto ATM in Europe 🤣

Hungry-Class9806

I live in Spain and originally from Portugal and crypto is not only allowed by widely adopted in both countries, to the point you have crypto ATM machines everywhere. Also mining is completely legal and CEXes operate normally like you said. Also when he is also lying when he says that developing countries made crypto illegal. I have friends from all over Central and South America (in fact my GF is Venezuelan) and they send money to their families via crypto because it's cheaper than WU or Ria.

Happy-For-No-Reason

eh hard to say, personally I have much bigger bags than that and am not deploying into anything ATM. I'll wait until SCR gets formalised then enter

Mysterious-Emu3237

Probably, its about how much profit you want to make before you sell. If I wanna sell Cardano once it hits 2 Euro (set a sell order), I become 10-millionare. But if I dont sell and Cardano reaches 200 Euro, I become billionare. Multibagger requires guts to keep holding when your assets are rising. ATM, all your brain can say is to sell before another crash.

Varyzumilitudious

Yeah, but we all ain't millionaires yet, so it seems to me, there IS time to explain. You're merely just an asshole with a catchphrase ATM.

Lehcen

I think I bought 50$ on a bitcoin ATM in the summer of 2017.

princemousey1

For me it was a literal “buy BTC ATM” that I could put $50 notes in (not from US and $50 is the biggest commonly used amount in circulation).

Applestud5

ATM

kingofkrypto1

I filed a Better Business Bureau complaint, and was eventually contacted by the attorney for this robber baron greedy scam company. Their ATM process involves you agreeing to use the ATM, with conditions that include fees ranging from 25-50%. The average is 30% or more of your money being taken as fees. Their inflated Bitcoin price, and reference price for Bitcoin are completely incorrect. However, Once you put money into the ATM, and finally see the calculation of what you will receive in Bitcoin, it doesn't make sense. So you do the math, want to cancel, but cannot. They claimed once you agree to use the ATM, you already agreed to the fees. Most people don't read the fine print in the small box because you'd be standing there for 30 minutes trying to read and understand it all. So like a normal ATM transaction, you click yes and agree to the $3 fee, but little do you know there is an additional 30-50% fee. Once you put money in, you're locked in and you have to take the hit. NEVER USE THIS SCAM COMPANY. The attorney offered no relief, and in fact the statement from the company stated they watched the video cameras and I was not in distress. That was not true. I got upset, went into my phone and did some calculations, researched the company, and complained to the store employee and brought him to the ATM. I clearly showed signs of distress. 100% SCAM.

kicktotheclems

It's weird that he invested in the hardware presumably knowing it was illegal - I guess the fees probably were as much a reflection of the risk taken than just profit. As to the comments about ATM fees generally - every user wants to pay as little as possible, and every ATM owner wants to charge as much as possible. Clearly enough people are using ATMs that charge high fees as they wouldn't exist otherwise - if you want them to stop don't use them

Theworldsnotthesame

Works really well! $ATM was called sub 400k, $BTM called at 130k!

CriticalCobraz

Almost all ATM charge way too much fees and the coin price is also bad too compared to most exchanges

nameless_pattern

I'll lose my voice saying this s*** again and again, the consumer finance protection bureau did a whole bunch of stuff to fight abuse of ATM fees and  overdraft fees.  Before it was gutted by Trump and the richest least funny man on the planet. I am very disappointed with Trump and Elon dick riders. I wish them all a very unnecessary ATM overdraft fee type of day. https://bankingjournal.aba.com/2024/09/cfpb-banks-need-proof-of-customer-consent-for-atm-debit-card-overdraft-fees/#:~:text=Banks%20and%20credit%20unions%20can%20be%20held,circular%20intended%20for%20regulators%20and%20law%20enforcement.

coinfeeds-bot

tldr; Olumide Osunkoya, a 46-year-old U.K. man, was sentenced to four years in prison for illegally operating cryptocurrency ATMs through his company, GidiPlus. Despite being denied registration by the Financial Conduct Authority (FCA), he ran a £2.5 million crypto ATM business from December 2021 to March 2022, charging high transaction fees. He pleaded guilty to multiple charges, including unregistered crypto activity and forgery. This marks the U.K.'s first criminal sentencing for unregistered crypto activity, highlighting the FCA's crackdown on illegal operations. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

mcshorts81

I have been dca £10 every day don't care what the price does ATM as I am not looking to withdraw anything

dadlif3

Easiest options are using a Bitcoin ATM or buy from a friend/coworker/relative for cash. You could always sell something for bitcoin or find someone to pay you in bitcoin.

desexmachina

If you found a wallet w/ and ATM card and a PIN number on the back, it would be illegal to withdraw funds too. Maybe we should go to r/askalawyer

brekyrse1f3

Depends on where you are located? 2-way btc ATM or use your current CEX as a gateway/bridge?

Show_Kitchen

So for small amounts, a Bitcoin ATM let you buy with cash. They're legit, but the fees can be ruff, so find a company with an ATM near you and follow their socials or newsletter to get discount codes. [coinatmradar.com](http://coinatmradar.com) or any other locator. If you want the lowest possible fees with some degree of protection and self-custody, look to an OTC or Trade Desk. The concept is that you're basically buying P2P from somebody with a lot of liquidity, so its all self-custodial - but there is usually a lot of red tape and you have to use ACH, Wire Transfer, or Interac if you're in Canada. [here's my bing search. yes I use bing and I like it.](https://www.bing.com/ck/a?!&&p=a5340dafa935fda55a66942eda0075d6ff0ccfe340250f757d40ebce550e0c7eJmltdHM9MTc0MDUyODAwMA&ptn=3&ver=2&hsh=4&fclid=3231ee01-c16f-68e9-37a6-fa32c0c76989&psq=coinflip+preferred&u=a1aHR0cHM6Ly9jb2luZmxpcC50ZWNoL290Yw&ntb=1) From my experience, if you have to jump through hoops then it is less likely to be a scam or have really high fees. The sites that take your money in 30 seconds or less always have something behind their back. The riskiest option is to straight up buy from a real person. I've done this before through my network, but I wouldn't recommend it unless you have crypto friends you can trust.

DreamingTooLong

Yes, hypothetically someone could have ill-gotten money and deposit it all into an ATM and then have it transferred to a crypto exchange purchase something random and sell it 30 days later and transfer back into the bank account The bank does not care about the money that spent transferred to the Exchange anymore. What they see is money from an exchange transferred to your bank, and that taxes have been paid on those profits. A lot easier than owning a laundry facility – hypothetically speaking of course.

Mgwilljr83

22.78 more in the bank. Amen. It’s on discount ATM. You are one of three. Dumb Poor Raking in the benefits.

badbrotha

You are fighting bots and literal billionaires at this point. Bitcoin is fairly safe ATM due to the high interest from government entities, anything else you're gambling. Been in since 2020

NiagaraBTC

10% over spot might be attainable for no-KYC. Thats still cheaper than ATM prices.

coinfeeds-bot

tldr; Unbank, a major Bitcoin ATM network in the U.S., successfully built a Bitcoin exchange using BTCPay Server, processing over 41,000 transactions worth $40 million in the latter half of 2024. The transition from traditional payment processors to BTCPay Server, completed in June 2024, resulted in significant cost savings and improved reliability. Unbank's non-custodial model ensures users retain control of their wallets, aligning with Bitcoin's values. The move highlights BTCPay Server's scalability and reliability for high-volume operations. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

armanipunanny

Just hold, it'll recover. It's shit for everyone atm. We need the fomo crowd to clear out. Lots of instability in the world ATM.

Tsu-Doh-Nihm

Easiest method to get Bitcoin without KYC is a Bitcoin ATM. But you will likely pay get 10% less Bitcoin for your cash, because that is how the ATM makes a profit. As long as you get a small amount per day (I think up to $2999), the identification requirements are extremely minimal. You have to enter a phone number that can receive a text, then the ATM will text you a code to enter into the machine. You also have to type a name, which is not verified. No other ID. Beware that different brands of ATM may collect a larger "spread" by adjusting their Bitcoin price from the standard price of Bitcoin on the open market. Here is a good brand of ATM with reasonable fees: https://coinhubatm.com/locations You will need to download a wallet to your mobile phone, which is where the Bitcoin will be transmitted and stored. The main wallet people use is Trust Wallet, and it is free here: https://trustwallet.com/

HaleBopp22

Also, please add your ATM PIN. If you aren't comfortable stating the actual number, just give the first 3 digits.

MayoSoup

Withdraw all your credit in cash and buy Bitcoin via ATM. Declare bankruptcy, then wait 7 years for profit.

longonbtc

I'm sorry to tell you this but your mother fell for a common scam. This scam is known as an advance-fee scam. Your mother is not using a real exchange. Your mother is on a scam website. Your mother has nothing in her account because it's fake. Tell your mother to stop visiting the scam website and stop communicating with the scammers. Tell your mother not to send the scammers any more cash or cryptocurrency and forget about any cash or cryptocurrency that she already sent them because she will never receive it back. Your mother should just forget about the money she already sent to the scammers. You should also tell your mother to stop listening to strangers on the internet giving her investment advice and telling her to sign up to random sketchy websites. Your mother can report it to the authorities if she wants to but make sure that she knows nothing will ever happen from reporting it. If you want to prove to your mother that it's a scam, then just ask her to withdraw the money. The scam website will give her a reason that she needs to send a bunch more cash or cryptocurrency to the exchange before she is able to withdraw the cash/cryptocurrency that she has supposedly "earned". That's why it's called an advance-fee scam. You must pay a fee before you can withdraw, but you can never really withdraw anything, even if you pay the fee. These scam websites give various different reasons for why the victim needs to deposit more cryptocurrency before they can withdraw their supposed large earnings. >She’s also been receiving calls from supposed investigating agents asking her for details so they can access the funds and they take a finders fee. Since she is now known to fall for scams, she is known as an easy target for scammers and she is now probably on a list of easy targets. These scammers might be the same scammers running the website, they might be somehow related to those scammers, or they might be unrealted to the original scammers. Either way, it's just another scam and they are going to try to get your mother to send them cash or cryptocurrency. Since your mother is now known as an easy target for scammers and is probably on a list of easy targets, I recommend that you teach her about various common scams and how to avoid them. A few examples would be to tell her to never buy bitcoin from a bitcoin ATM. If somebody on the phone tells her to buy cryptocurrency or gift cards for whatever reason, they are a scammer. The IRS will never call her. If a "friend" or "family member" emails them and tells them they are stuck in another country and need money, it could very unlikely be legitimate but it's also a common scam. Sometimes those scammers also call but that is less common. If someone calls and tells her she has an arrest warrant or court case and requests her to buy gift cards or cryptocurrency to settle the warrant/case, they are a scammer. If Apple/Microsoft tech support calls her out of the blue, they are a scammer. If any tech support ever tells her to buy gift cards or cryptocurrency, they are a scammer. And please tell her to stop listening to any investment advice that she hears of, or maybe consult with you first. These scammers often hack random peoples social media accounts and then makes posts talking about all the money they are making with this great investment company and tells friends to ask them for details. They often message the people that are friends of the hacked person's account and tells them about this great investment company they are making a ton of money with. I would guess that one of your mother's friends social media accounts was hacked and this is how she first found out about the scam. I'm just speculating but it's very common.

Happy-For-No-Reason

market appears to be trending down except BTC though. alts are risky ATM. if you wanna win though, you gotta play and be ready to lose it all.

FuelZestyclose3541

They could point you to the Bitcoin ATM.

Tiberyius

1. Set up your wallet 2. Find BTC ATM in your area. 3. Use debit or cash to buy BTC at ATM. You can scan the QR code at ATM for your wallet info. 4. Once you have the BTC in your wallet you can use non-KYC dapps / Defi to convert to other cryptos, trade, play, etc 5. When you want to sell it, you’ll have to go back to the ATM and run the transaction in reverse, depositing BTC for cash. Good luck out there kid

Fritz1818

They see the recent crime and think CT is basically a free ATM

selftaughtboy

Lol it’s has to be a bitcoin ATM or you have to ask someone to send you the money. Sorry buddy

illyipsi

In some country’s there are Bitcoin ATM, bitcoin meetups, bitcoin voucher

KoldPurchase

I lost money on that. I believed the hype (my fault). They paid influencers to boost the value of the coin last year and the year before, false marketing and all that. Spent millions that went nowhere, really. Avoid. SOL may have some potential because a lot of shady projects use it, but it's still tied to Bitcoin and Bitcoin is tied to the global economy and that's in serious danger ATM. Anyway. If I were back in crypto, it would be SOL and BC, nothing else.

Jackrabbitsamson

Think of it like this: Trusting a Bank with Your Money (Centralized Custody) Imagine you deposit your cash into a traditional bank like Chase. The bank holds your money and gives you access through an app or ATM, but ultimately, they control it. If the bank decides to freeze your account, impose withdrawal limits, or go bankrupt, you might lose access to your funds. Similarly, when you buy Bitcoin through Nubank, they hold it for you. You can access it through their app, but if they restrict withdrawals, face regulatory issues, or get hacked, you don’t have full control. Creating Your Own Bank (Self-Custody) Now, imagine instead of depositing your cash in a bank, you keep it in a personal safe at home. You control the money 100%. No one can stop you from using it, but you also bear all the responsibility—if you lose the safe key (or someone steals it), there’s no way to recover it. With Bitcoin, self-custody is the equivalent of creating your own bank. You can hold your own Bitcoin in a hardware wallet (like Ledger or Trezor) or a non-custodial software wallet (like Electrum or BlueWallet). This means you alone have access to the private keys, and no one can take your Bitcoin from you. However, if you lose your private key, there’s no bank to call for help—it’s gone forever. Which One is Better? It depends on how much you trust the bank: • If you trust Nubank, you might be fine letting them hold your Bitcoin. • If you don’t trust centralized institutions, you should take self-custody and “be your own bank.” Bitcoin makes it much easier for an individual to be their own bank than traditional money, but it comes with more responsibility.

rvrsingam

You are not getting crypto from a CEX in the EU without KYC. P2P crypto is very risky and you run a high risk of getting scammed. If you have physical access to a crypto ATM/kiosk set u, it's possible but pre pare to pay high fees

keepmathy

Start with bitcoin ATM, swap to whatever once you transfer to hot wallet.

LV_HiLife

I use to work for customer service for crypto ATM machines and my boss had to file for bankruptcy in 2021 when bitcoin crashed to 40K and it was harsh we all got laid off and it scared me away from BTC

Traditional-Fan-9315

Thinking to the last bear market where I saw someone selling their bitcoin at an ATM. I asked why and they called it shit and said they made a huge mistake and they just want their money back. I think it was at like, 12-15k at the time. Patience is a virtue.

chichris

ATM’s. No thanks.

notshtbow

Dude, pass me whatever you're smoking.... News flash chief, the Rs are in charge ATM.

Active-Code2542

I think the design of the bitcoin ATM might have something to do with it…

Successful_Ad_380

I get your point. Not what I'm saying. In that scenario I'm already known with the regular ATM. Trust me "bro", that BTC ATM has the look and feel of a slot machine to whomever is unknown with BTC, however of course BTC is not gambling.

yoobermcruber

Is that also what you think when you see the normal ATM that is sitting right next to the Bitcoin ATM? You think the normal ATM is such a scam and feels like a slot machine?

True_Swordfish3951

Don’t use crypto ATM’s They can charge up to 12% and your assets can end up lost as that happened to me YEARS ago when I knew nothing about crypto lol. Don’t learn the hard way.

videokillradiostarr

Get your parents to sign up for cash app. I think you can invest as a minor if they give you permission. You can work for cash and find a local Bitcoin ATM.

chichris

Most drive through banks are ATM’s now.

Illustrious_Stand319

ATM and convertibles are arbitrages He buy more bitcoin than the bitcoin per share of the new shares he just sold... Take some months to grasp this...

crooks4hire

Because a single teller can serve 3 people simultaneously but 3 people cannot simultaneously use a single ATM.

Wealth4All-0112

Neither do I expect for all businesses to be open 24/7, but when it comes to my money I want 365/24/7 access. As I stated in one of my other comments, yes the ATM is open, but you can only withdraw up to $500 a day. If you study Bitcoin long enough you’ll also understand why it is 1000x better than banks and fiat.

Wealth4All-0112

Yeah the outside ATM is open 24/7, but you can only withdraw up to $500 a day from the machine. Don’t get me started on bank to bank transfers and transactions like paying bills. The shit normally takes 2-3 business days to process. Bitcoin however is 365/24/7 worldwide without the need for any middlemen.

wh977oqej9

Is this really what I see? Drive trough ATM? First time...

Wactar

Do you know if bills or coins like these are taken out of circulation and get replaced if they end up in an ATM or a bank?

Amazing-Repeat2852

Yeah, there is such a small amount in circulation ATM. Easy to manipulate!

Ofiller

My girlfriend was pregnant. I wanted to open a savings account for my firstborn. I read up on economics and found up there were 0 options. Every single option to save value was either to be rich from scratch (like Real estate or rare paintings) OR buy stupid stocks in stupid companies that I despise. I was furious for a while, after learning about inflation - until I randomly came across a Bitcoin ATM, and a friend introduced me to what it was and told me he was pissed that his dad didn't let him mine back before the first halving. I went home, read about Bitcoin and the rest is history.

iamscott3

Makes sense given how well received by customers gold ingots were at Costco warehouses. Having said that, I'd never buy BTC from an ATM.

KaSrAHiDe

Why the hell the fees and spread are too much on every ATM !!? Nobody uses them because of this imo

netwolf420

I heard about Bitcoin within the first year of its existence. It didn’t have a price and I just saw it as some new weird internet thing. Then a few years later it pops up in the news, and I ignore it. Then a few years later, I know someone who buys some BTC from a ATM and goes to a talk on Bitcoin. I ignore it. It pops up again in the news a few years later and I make fun on it. Then, a friend stops my by house one day and I can tell there’s something he’s jazzed about. This was the day when I chose to stop ignoring and making fun of it.

Ok_Category_6395

In Florida where I’m at, there are thousands or Bitcoin ATMs now (mostly run by the same few companies). It’s kind of a friendly state for this specific type of crypto business, mainly because of the limited regulatory costs. For instance, the retail and OTC crypto exchanges are all usually required to obtain a state money transmitter license here (in addition to requiring federal registration with FinCEN/Dept of Treasury as an MSB/money transmitter). So the exchanges are subject to both state and federal compliance expenses (e.g., AML/KYC, surety bond, minimum net worth, permissible investments, quarterly reporting, audited financials, etc. This may be fairly cost prohibitive for a start-up, especially given the stiff competition out there now. On the other hand, crypto ATM companies, with some exceptions, generally do not require a state money transmitter license in Florida and so compliance costs are fairly minimal (aside from FinCEN registration and AML requirements). This is mainly because an ATM transaction, for the most part, will typically be a two-party/P2P transaction where the ATM company is not acting as an intermediary between buyer and seller (unlike an exchange such as Coinbase, Kraken, or Binance.US).

Ecstatic-Garden-678

Try to withdraw large amount from your bank account. There is a reason why there are limits to contactless transactions or ATM withdrawals. To protect the customer. If you are in urgent need for a large amount, cool off period is highly recommended.

PlantCharacter7084

That or just scan it into your wallet with your phone from a qr on the screen. I'm not sure how they work. I've never bought any that way. Now I'm more interested in owning a Bitcoin ATM. 30% yield to me sounds pretty good

HelloAttila

Most of these are regular ATM’s with the capacity to buy BTC as well. I’d definitely not buy BTC on these. So I’m guessing if you do, it prints out the address and keys on the receipt to be able to claim it?

RIFF-PC

Why not? Because there was no power and no utilities for months in many parts of the island. People were stealing gas generators in the middle of the night from the ones who had them. I have friends who told me they believed their generator ran out of gas during the night only to realize it was stolen. Lines to get gas at the pump were miles long, and it was rationed. Without cash, good luck buying anything without Visa or ATM services at the POS (point of sales) machines due to not having an internet connection. You could barter in certain cases, but cash made things easier and straightforward. Remember the devastation and lawlessness that happened the weeks after Hurricane Katrina hit New Orleans? Imagine the same lawlessness but on an island without any way of unloading goods arriving at the San Juan port and no way of communicating with the outside world for weeks. Living in the States, I wasn't able to reach my parents in Puerto Rico on their cell phones for 2 weeks after the hurricane because the towers collapsed and then when the phone companies were able to get a tower running under generator power, people stole the gas from the generator or the generators themselves. People were also stealing copper and aluminum wires from downed poles, making the recovery effort that much more difficult. My mother in law lives in the central mountains, and she didn't have power or running water for 6 months. Many people died because they drank dirty water from streams without being able to boil it first. Also, I couldn't fly to PR to check up on my parents because flights were stopped temporarily until the infrastructure and roads were repaired. There are still areas that haven't recovered. Look up Rincon Waterfront buildings that collapsed into the ocean. They're still in the water. There are still bridges that collapsed and were never rebuilt. Look up news reports from 2017. It was way worse than people realized.

PlantCharacter7084

That's what I've heard. Here's an article that talks about it. https://www.cryptodispensers.com/blog/bitcoin-atm-fees#:~:text=Bitcoin%20ATM%20Fees%20Across%20Different,at%204%25%20to%208%25.

ChazinPA

Ironically directly below this post was a picture of a Citi digital ATM where one can now purchase BTC. People don’t seem to understand how early we truly are here…

OkEstablishment7095

You can also generate ready codes on a lot of those ATM's and get cash for your bitcoin using Unbank's app [http://unbank.com/open-app](http://unbank.com/open-app)

liquid_at

one really working for wall street, who got the job because he never in her life did anything for retail investors but only ever for corporations. If you honestly got fooled by them. Rip your investments. You are under the control of manipulators and they are moving you the way they need you to move for them to profit. You are an ATM to them.

fan_of_hakiksexydays

This is by far the bull market where we had the most bullish news...by a big margin. This is gonna be my 4th bull market. I remember when the big bullish news used to be a new Bitcoin ATM in your city, and governments delaying their crypto ban legislation.

PlantCharacter7084

Yup. I see people at regular ATMs all the time. I've never seen anyone at a Bitcoin ATM ever. If no one uses them, 30% of 0 is zero! Hopefully, they're not getting much business.

HelloAttila

Yeah, paying a 30% fee is absolutely NUTS! ATM is making stupid money! More than banks any day.

phul_colons

What we want is a Bitcoin _vending machine_, not a Bitcoin ATM. I want slips of paper with QR codes that have a private key wrapped in foil in $0.001 increments.

BitcoinBanksy

This Citibank ATM allows you pull funds from your bank account, but if you want to buy Bitcoin, it uses the LibertyX network to Buy/sell BTC.

PlantCharacter7084

Ya...usually around 30 point bid ask spread. I wonder if Costco is any better than the ATM at the gas station?

No-Introduction-6368

Is it like $145,000 on there? We've seen the ATM, what's the premium?

zxr7

ATM hardware problem, not bitcoin problem.

afscam

Because it was just a little hobby at first. I didn't really take it seriously. I would find myself passing a bitcoin ATM and dumping a couple hundred bucks in, here and there. As I got more and more into it, my desire to up my game came into focus.

Slight-Guidance-3796

Ask him how you get more when there were only 21 billion shares of Bitcoin and that some company has bought most of them. The company is Coinbase and that they have excellent customer service. Or say you want to buy some shares from the Bitcoin ATM by your house

Obvious_Structure913

The Liberty ATM fee at all Costco locations is published at 9% of your deposit. Example: [https://libertyx.com/a/buy-bitcoin/locations/bnim7vvaac5k/costco-cypress-tx](https://libertyx.com/a/buy-bitcoin/locations/bnim7vvaac5k/costco-cypress-tx)

Obvious_Structure913

The Liberty ATM fee at Costco is published at 9% of your deposit.

PlantCharacter7084

I checked on after reading an article about BTC ATM machines. The article said that they put them in poor areas and scam the uneducated. They were right. Looks like we're in the wrong business. Why invest in it if you can sell it and make 30% right off the bat. Total scam. I wonder what they pay you if you sell your BTC at the ATM. 65k?

NiagaraBTC

I think there are some that only want a phone number below x amount ($500?) but do full KYC past that. No idea why anyone would use an ATM that full-kycs every purchase!

Ulysses_Zopol

Well, one could argue that they have a much higher cost structure than an exchange. Also, the immediacy of ATMs requires holding liquidity, and holding liquidity means risk. But 30% is a tad bit steep nevertheless. I used one myself a few years ago, and it promptly ate a 50€ bill. That was in Poland, and no one picked up the phone. I didn't have a receipt or witness either. ... I guess the immediacy and anonymity of an ATM has its price.

NiagaraBTC

ATM spread is crazy. The price of privacy, I guess.

Fun-Technology-1371

As in “spread em for us!” I went to a BTC ATM last night out of curiosity and they were selling BTC for $127,000+

BtcKing1111

The people who live in regimes where inflation eats away their income by the end of month, and who cannot withdraw money from ATM because the bank has "restrictions"; they don't need to be convinced. 

RepulsivePotato69

The MAGA crowd is so brainwashed, they’d buy up Trump’s toilet paper if he stamped his name on it. Now they’re getting rekt by his meme coin, blindly speculating with their hard-earned cash, only to become the exit liquidity for the billionaire’s latest scam. It’s almost poetic, really - they picked the memes, and now they’re getting memed. Guess that’s what happens when you mix ignorance with speculation and a healthy dose of cult-like devotion. They’re not investors, they’re ATM machines for the wealthy elite, and Trump is just cashing out on their gullibility. The irony is delicious - they thought they were “winning” with Trump’s coin, but really, they’re just funding his next golf vacation.

smoochjack

Coinbase advanced doesn't have a spread, you interact directly with the order book. Fees are 0.60% | 1.20%. Not the lowest in the industry, but nowhere close to what an ATM is. I actually prefer Kraken myself, but each has their one free pro/advanced mode where you don't get the high fees. Now is it deceptive for them to hide this mode? For sure. But Coinbase actually has OK fees and no spread if you just click into the Advanced mode (which is free to use). Just an FYI.

Asleep_Blueberry_177

In the last weeks mostly ATM (selling shares with a premium to their BTC holdings) This one is probably mostly from the STRK issuing last week of preferred shares. Last year they sold also some convertible bonds. Simplified, they use different financial tools to get more money now, because people bet on a higher MSTR stock in the future. This way MSTR gets more money, they can then use to buy BTC.

nachoman2750

WHAT COIN/TOKEN DOING 2x OR 10x ATM!?!?!🤔🤔🤔

sedykh

Am I the only one who celebrates this red market? ATM the situation is way better than I could have predicted a year ago.

Ok-Needleworker1061

I am in the same boat! I make less per hour than all of my coworkers by about $3 and some like $12 but I am the ONLY person who maxes out the overtime I can work. Everyone else goes home and plays video games or does random unproductive stuff and always shits on me for working too much. I have a set amount in savings for emergency money, and then everything after that goes right into BTC. It's not much but its the best that I can do ATM. I work 66 hours a week and have been doing that for almost 2 months now (since I got the green light on OT). Im just going to work as MUCH AS I POSSIBLY CAN and stack BTC. Its discouraging knowing I will never be able to own a whole BTC, but ill own more than the average person! Best of luck OP.