Convenience store operator Circle K to host BTC ATMs

[OROBTC]

...

Saw this on Fox Business this morning, and here are a couple of links:

https://www.coindesk.com/bitcoin-atms-to-invade-circle-k-convenience-stores

https://cointelegraph.com/news/circle-k-convenience-stores-will-host-thousands-of-crypto-atms

Thousands more BTMs will be going into Circle K stores (convenience stores mostly found in the western and southern USA).  Bitcoin Depot machines.

Bitcoin is gaining traction...

[SFR10]

Thousands more BTMs will be going into Circle K stores

Bold move ^{[especially for BTCitcoin Depot]}. At first, this partnership appears to be more beneficial for Circle K, but despite that, I'm sure in the long run it'll become a better deal for BTCitcoin Depot instead ^{[smart move]}.

[Timelord2067]

I wonder what kind of transaction fees and mark-up they are offering to make it viable for them to operate??

And, if Circle K are selling the crypto at market rates, does that then mean they are planning on implementing bitcoin transactions in store for purchases?  Store operators and cashiers would welcome cashless stores which would overnight transform their overall safety. (no more late night armed hold-ups for pennies and dimes in the till).

[The Sceptical Chymist]

I wonder what kind of transaction fees and mark-up they are offering to make it viable for them to operate??

And, if Circle K are selling the crypto at market rates, does that then mean they are planning on implementing bitcoin transactions in store for purchases?  Store operators and cashiers would welcome cashless stores which would overnight transform their overall safety. (no more late night armed hold-ups for pennies and dimes in the till).

When I read about this, I had those same questions.  I don't know anything about Bitcoin Depot other than they're a BTCATM operator.  If I'm not mistaken, their fees aren't exactly great--but that's true of most of them, and I wouldn't expect them to discount their fees just because they've partnered with Circle K.

Nor would I expect Circle K to start accepting crypto for store purchases, especially bitcoin.  Those transaction fees, those confirmation times....it's just not practical when most people 1) don't use bitcoin to buy things, and 2) the network fees would probably be half the amount the average customer spends when they buy something from a Circle K.  Even if they accepted a coin like doge, I bet it still wouldn't be popular.  But hey, we'll see.

[Timelord2067]

...

We had a Bitcoin ATM in South Brisbane that ended up in Fish Lane - at the time I was blissfully unaware of TX fees and just fed my dollars into said ATM and by the time I got home, my wallet address had received the funds.  That ATM had BTC / DOGE and LTC and I'm certain I bought DOGE as well as BTC, but what became of those DOGE (exchange, or wallet) I have no idea.

I think new entrants to bitcoin ATM's aren't going to look at the TX fees - the one I used I don't think even mentioned a TX fee, just how much I'd receive for my fiat.

[stompix]

Well, everyone thought about the fees..
Looking at coinradar none of their ATMs have the fees listed nor do they say a word about it on their website.
But googling a bit I found some really weird topics on Reddit, including receipts from purchases, 2018-10-13, BTC price on the receipt $7585, price on exchanges that day 6,308.51 - 6,259.81. Another one here, again some really inflated rates.

I could deal with 5%, even 7.5% if at least they would have some higher limit before they ask you for ID but even that starts at 250$, so this is probably going to be just a race to fleece the customers that try it for the first time.