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Title: ATM fees? Post by: JimmyButlerCollector on June 01, 2017, 04:30:13 AM Here in Canada, the price of the bitcoin is approx $3,100 Canadian dollars. However, the ATM gives you a rate of approx $4,100. I deposited $100 and got back $77 worth of BTC. Is this the normal rate?
Title: Re: ATM fees? Post by: Quartx on June 01, 2017, 04:33:23 AM Here in Canada, the price of the bitcoin is approx $3,100 Canadian dollars. However, the ATM gives you a rate of approx $4,100. I deposited $100 and got back $77 worth of BTC. Is this the normal rate? Different services, exchanges or atms have different rate and or premiums for buying into bitcoin. For your case, assuming 1 BTC is $3100 , but the ATM has a higher premium of 1 BTC for $4100, roughly what you should get will be 3100/4100*100 or 75.6097561 CAD roughly. I am pretty sure there are other exchanges which will give you more btc for $100 cad Title: Re: ATM fees? Post by: MadGamer on June 01, 2017, 05:53:33 PM Here in Canada, the price of the bitcoin is approx $3,100 Canadian dollars. However, the ATM gives you a rate of approx $4,100. I deposited $100 and got back $77 worth of BTC. Is this the normal rate? Its more then normal. Its pretty much up to the people running the ATM and not the company that created it. CoinATMRadar (https://coinatmradar.com/) is a very good service I advice you to use, you can check all ATMs in the world, with the fees, limits and everything else. Title: Re: ATM fees? Post by: jpoker272727 on June 01, 2017, 06:02:58 PM Here in Canada, the price of the bitcoin is approx $3,100 Canadian dollars. However, the ATM gives you a rate of approx $4,100. I deposited $100 and got back $77 worth of BTC. Is this the normal rate? That's too much being honest, the difference between 3,100 CAD and 4,100 CAD is 32% which is really a lot !!! Have you tried to find anyone locally because that ATM charges a lot, why don't you register in exchanges like coinbase or bitsmap pass the verification step and buy there, it's much cheaper than buying in that ATM. Thank you... Title: Re: ATM fees? Post by: olushakes on June 01, 2017, 07:42:44 PM Here in Canada, the price of the bitcoin is approx $3,100 Canadian dollars. However, the ATM gives you a rate of approx $4,100. I deposited $100 and got back $77 worth of BTC. Is this the normal rate? That's exactly one reason why I won't use the official means to either buy bitcoin, or sell because premium they place when you want to buy and excessive discount when selling to them. Over here, we have two exchange rates since our bitcoin needs to be denoted in dollars, the official exchange rate and the black market rate which is the most realistic in other to make the right amount of money in case one is selling and that's what I adopt. |