Questions about Bitcoin ATM

[elusive1]

This is pertaining to the two way machines, there are none located in my country, so I cannot just go try one to get the answer. I would like to get spending money on my next holiday in Spain.

1. When someone with a Bitcoin ATM advertises a 5% commission is that from the spot price of lets say Bit-Stamp or is that a 5% commission after he offers a buy sell price. Some currency walk ups in Europe have small spreads but charge commission, while some have larger spreads but advertise "No Commission".

2. How long is the wait before you can actually remove cash?

3. Limits on withdrawals? (generally)

4. Any other issues I should expect?

[mr angry]

...

4. Any other issues I should expect?

They sometimes want ID. Some of them allow anonymous withdrawals, but I don't think they let you withdraw a lot. If you want to withdraw lots of money regularly you would probably have to use a service requiring extensive ID, and you might have have a delay before you can withdraw while they verify your ID.

[jbrnt]

I don't know anything about Bitcoin ATMs in Spain. I can provide an alternative method I read about from Coindesk. It's an app which convert your bitcoin to euros and you can withdraw fiat from conventional bank ATMs across Spain. These are the links to the articles:

http://www.coindesk.com/bitcoin-app-enables-cash-withdrawals-10000-spanish-atms/
http://www.coindesk.com/btcpoint-spanish-bank-network-bitcoin-atms/

Bit2Me and BTCPoint are similar services with different fees. I have not tried either of them.

[elusive1]

For Spain that seems to work. Not quite sure how you can go to an ATM with just a code and get money, but perhaps in Spain it is so

[jbrnt]

For Spain that seems to work. Not quite sure how you can go to an ATM with just a code and get money, but perhaps in Spain it is so

I was thinking about the same thing and YouTube is your friend:
https://www.youtube.com/watch?v=hylPy_FmXlk

The video is in Spanish. Watch it from 7m45s. Shows how you can withdraw by selecting the Hal-Cash service. You may need a Spanish local phone number for it to work.

[elusive1]

Nice, one transaction per phone I assume.