Bitcoin ATM

[ConCoins]

I just tried a new Bitcoin atm that was installed about 5 min from my house.  I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100?  What gives?

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[Kakmakr]

I just tried a new Bitcoin atm that was installed about 5 min from my house.  I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100?  What gives?

The Bitcoin price is very volatile at the moment with people buying and selling in fear of a hard fork. So even if the price dropped by $200, it will correct it self over time. You also have to keep in mind, your ATM might not use the same exchange prices that you are using. {What did you use to check the price?} --> Preev.com?

Go to the ATM and open Preev.com on your mobile phone and see what is the difference at the time of buying.

[Labumi]

I just tried a new Bitcoin atm that was installed about 5 min from my house.  I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100?  What gives?

Why do you feel confused when getting a price that quickly changed ..?? Indeed, such is the workings of the bitcoin. Some people love the bitcoin because they get better profits compared with other digital currencies. But you need to know, that bitcoin requires patience. In the absence of patience we'll get a lot of losses, and for you who want to benefit from the investment then you should well be patient.
 

[davis196]

I just tried a new Bitcoin atm that was installed about 5 min from my house.  I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100?  What gives?

This is a normal fee.After all,the company that bought and installed that ATM want`s to get it`s investment back.They can`t sell bitcoins at the preev.com price.
It`s good that there are more and more bitcoin ATMs installed.I don`t care about the hard fork.Bitcoin adoption is growing.

[ConCoins]

Fair enough,  thanks all.  I did see the current price on coindesk.com and it was 1100

[MadGamer]

I'm not sure If I'm not getting the situation here or the other members aren't. If you had the receipt saying 1300$ then there is definitely a problem here. You should contact from whoever you bought the ATM from and ask them from where exactly the ATM gets the information's because It's being days/weeks since the price didn't much anywhere above 1100$.

[klf]

I'm not sure If I'm not getting the situation here or the other members aren't. If you had the receipt saying 1300$ then there is definitely a problem here. You should contact from whoever you bought the ATM from and ask them from where exactly the ATM gets the information's because It's being days/weeks since the price didn't much anywhere above 1100$.

That is true. It looks like they are not following the market price instead they may be having some changes to the current market price to provide that service. Check whether did they mention any service charges? But even with some charge $200 higher side is quite high and if that is true then never buy from that machine anymore.

[xuan87]

Yes sometimes the market price is not the same with the ATM rate, so it's better to check the rate before you do transaction and also beware of the high transaction fee, and I envy of you, you can used bitcoin ATM in your area, I wish my place will have bitcoin ATM soon

[Sithara007]

There are a few things to remember while using the Bitcoin ATMs. First of all, there is no centralized exchange for Bitcoins. The exchange rates will be different in different exchanges. So you need to check which exchange rate the ATM is considering while selling the coins. Another aspect is the fees. Normally, the Bitcoin ATMs charge anywhere from 6% to 12% as the markup.

[UCHCHILD]

The value of bitcoin does not much in each other, they have differences and even the time, if you check the value in the morning and you withdraw the coin in the afternoon for sure the value really moves, higher or lower.

[jaceefrost]

The value of bitcoin does not much in each other, they have differences and even the time, if you check the value in the morning and you withdraw the coin in the afternoon for sure the value really moves, higher or lower.

Atm price may differ as well depending on which exchange they are following. For example tere is a slight difference on the current price of coindesk and preev rate.

[jc89]

I just tried a new Bitcoin atm that was installed about 5 min from my house.  I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100?  What gives?

Bitcoin's value always vary due to its unstable state. I will not be surprised if you buy 1BTC now with a value of $1000 then later on it became $1500 per BTC. It has been the nature of bitcoin to fluctuate its value more often. And for us, we just need to wait until bitcoin becomes more stable just like we always wanted.

[virasog]

I just tried a new Bitcoin atm that was installed about 5 min from my house.  I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100?  What gives?

The price of bitcoin is not the same to each other, and the most reliable source of the value is the preev.com, it will helps you a lot to figure out how much each coin value, some sites are not fair to relay on, and yes, sometime, transaction fees might confuse you in using atm, because they have different fees uses.

[FlightyPouch]

I just tried a new Bitcoin atm that was installed about 5 min from my house.  I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100?  What gives?

The price of bitcoin is not the same to each other, and the most reliable source of the value is the preev.com, it will helps you a lot to figure out how much each coin value, some sites are not fair to relay on, and yes, sometime, transaction fees might confuse you in using atm, because they have different fees uses.

I though that ATMs are having an update about this, so they are not. It is really a disdapointment doing that, at the same time I am having a plan. If the price rises again, the Bitcoin Atm's price will be going down right? I can have a profit out of it, and a quick profit.

[goldcoinminer]

I just tried a new Bitcoin atm that was installed about 5 min from my house.  I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100?  What gives?

The Bitcoin price is very volatile at the moment with people buying and selling in fear of a hard fork. So even if the price dropped by $200, it will correct it self over time. You also have to keep in mind, your ATM might not use the same exchange prices that you are using. {What did you use to check the price?} --> Preev.com?

Go to the ATM and open Preev.com on your mobile phone and see what is the difference at the time of buying.

This is a good advise, you gotta live up with the reality and when it says it's volatile, it really are.
You'll greatly be affected if you are buying a huge volume of bitcoin and considering that ATM are not their to serve us for free
they also have fees that we should pay in order to see them running.

[asuryan180]

Better to watch out buddy,the ATM's rates are often different-I don't know why,maybe they need time to get to the current rates,however that is not a good excuse to hold such a big margin-and this surely doesn't encourage more people to use them

[CraigWrightBTC]

I just tried a new Bitcoin atm that was installed about 5 min from my house.  I purchased .10 BTC as a test and when I got the receipt after the transaction it had the current price of BTC at 1,300 a coin and it was less then 1,100?  What gives?

Well I think there are hiden fees on the bitcoin ATM must be paid by you and other users of bitcoin ATM,
although I am not sure about that because there are other possibility include bitcoin's price fluctuation
or term of service bitcoin ATM that be used and for next time you must read reviews from other who use ATM.

[Creepings]

Better to watch out buddy,the ATM's rates are often different-I don't know why,maybe they need time to get to the current rates,however that is not a good excuse to hold such a big margin-and this surely doesn't encourage more people to use them

I think you are right, but if you look it on the other side, I mean you look and think positively, you can earn some profit from it. For example, the bitcoin price is increasing, that time the bitcoins price on ATMs are still not that high, so it is a chance to make a profit right?

[n0ne]

Better to watch out buddy,the ATM's rates are often different-I don't know why,maybe they need time to get to the current rates,however that is not a good excuse to hold such a big margin-and this surely doesn't encourage more people to use them

ATM for bitcoin withdrawal is not getting more popularity just due to its increased fee compared to the exchange websites. Exchange websites provides the ease of access, that the amount directly gets credited to the respective account. Also with ATM we need to move to the location to withdraw which is not required for exchange websites.

[asdalani]

Better to watch out buddy,the ATM's rates are often different-I don't know why,maybe they need time to get to the current rates,however that is not a good excuse to hold such a big margin-and this surely doesn't encourage more people to use them

Another thing to look out for is the card skimmers on those Bitcoin ATM's there's crooks that like to steal peoples Bitcoin for money. Bitcoin ATM's are quite easy to carry out from the places that they are in, since they all have money inside of them those ATM's could be a payday of $3,000 or so if they open up certain machines.
If you think Bitcoins fees are high then you have no idea about the people who have to pay a premium for their coins and not receive it after purchasing.