Bitcoin ATM's fees and their price rates ?

[NotATether]

Second, you have access to this forum. You can actually buy the Bitcoin yourself from here. You have the option to use Paypal or USD or even your country's fiat. I guess there are also other Bangladeshis here. But as a newbie you will either send first or use an escrow. Either way, choose a trusted member of this forum for such transactions.

I second this. I haven't done any P2P transactions here yet, but this forum seems very handy to buy services that would normally be unavailable if you were to deal directly with a company, and don't have a credit card. Particularly if you live in an embargoed country like me.

You got a point. But I dont think creation of Bitcoin's ATM doesnt serve any advantages or purpose. I can site some I think advantages of it.

• If there is no available internet connection, you cant use your web/wallets to transact or even cash out right? That's where bitcoin atm can possibly be used.
• Save you from trouble registering on Cryptoexchange and fulfill KYC processes (mostly asked for it). In Physical bitcoin machine can easily cash out. I'm not trying it yet but I can say it have some purpose on my part.
• Can also save you from peer to peer scam when you are trading something. Probably some atms can have some features of exchanging major coins

Although I haven't used a bitcoin ATM either, how are we to know whether an ATM has been wired by a hacker to steal funds inputted into it? ATMs are just Internet of Things devices and it's been demonstrated hundreds of times in security conferences and by malicious cyberattacks that they are easily compromised. So ATMs might be less safe than other ways of cashing out.

ATMs must be connected to the internet to work and usually they run outdated system software that's never updated which makes it easier for them to get hacked. So if people were to use ATMs more frequently we will see the rise of ATM thefts, just like bugged Electrum clients that send all your bitcoin to the attacker. Unlike wallet software (file hashes, PGP keys) we have no way of verifying whether the ATM has been tampered with.

I do think you should try changing your VPN if you are not able to use the online sites , I won't count on the ATM's that much , they are rare and at the same time you do have no idea what you are getting yourself into right now.

I don't see how VPN is going to help OP exchange currency for bitcoin at an exchange because they will just ask for documents anyway.

[sykt62]

Might as well buy with debit/credit card instead. You can also try P2P trading over the forum. I bet their price would be much cheaper than bitcoin ATMs on the other part of the world.

I saw some good offers. but there's one thing an afraid of, buying from forum..most users, who opened offers, they are newbie and have not enough trust merit on profile.
do you know any better users who sell them at a good rate.?

[Lucius]

I saw some good offers. but there's one thing an afraid of, buying from forum..most users, who opened offers, they are newbie and have not enough trust merit on profile.
do you know any better users who sell them at a good rate.?

I don't know where you look, but not all of them are newbies and some have a good reputation. Number of merits is no guarantee that someone is fair trader, you mix up merits and trust (check under user's avatar).

Here's an example of a few that are considered trusted :

BUY HERE 🔥 BITCOIN 🔥 WITH Your PAYPAL, ZELLE, BANK Payment
LONG TERM SUPPLIER』Theresa bitcoins buy/sell shop『ba/PP/WU/MG/Wechat/Alipay

Disclaimer : The above is just an example, it is recommended to use escrow in any trade.

[darewaller]

hi. I am from Bangladesh wanna buy some bitcoin but here the price is too high.I wanna but BTC at a cheap rate.
my cousin lived in Canada.
I wanna that my cousin buys some BTC from bitcoin ATMs.
can anyone tell me what is the fees for buying 100$ bitcoin.?
and what is their own price for bitcoin?
I searched a lot for fees and rates but couldn't find any good results.

I know about these Bitcoin ATMs, you will hardly find them where I live, but I heard that their fees are very high around 5% to 10%. But I’m thinking this has to do with the company that’s running the ATM, they decide how much they want to charge those that uses their ATM to make any purchase or sell, and that’s how they make their money, and I think a percentage of that money goes to the manufacturers of the ATM, I’m yet to know fully well about them.

If you ask me, I will advise you to make use of sites like Coinbase if it’s available in your country. It’s quite easy and the fees are less compared to what those ATM might charge, and there are other platforms that will even charge way more less than them, you should also check out BitPay and Luno. All these platforms are legit, well trusted and are better options. You just install their wallet, create account and set it up and you’re ready.

[verita1]

I wanna that my cousin buys some BTC from bitcoin ATMs.
can anyone tell me what is the fees for buying 100$ bitcoin.?
and what is their own price for bitcoin?
I searched a lot for fees and rates but couldn't find any good results.

The fees are always a dilemma! Every time I need to exchange Bitcoin and any other crypto I go through the platforms to verify the best rate. I have not yet been able to find paying less than 10% in fees.
This article can be useful to find the best platform to buy Bitcoin in Canada.

https://www.buybitcoinworldwide.com/canada/

[isaac_clarke22]

Hold on, OP.
How would you be able to get into an ATM if Bitcoin is illegal at your country since September 2014? Here's what I read in a Wikipedia page:

Financial institutions are not allowed to facilitate bitcoin transactions. In September 2014, Bangladesh Bank said that "anybody caught using the virtual currency could be jailed under the country's strict anti-money laundering laws".

Source: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Bangladesh

You should consider what you're doing, OP. Bank doesn't seem to welcome crypto so better avoid it.

[Spaffin]

Hold on, OP.
How would you be able to get into an ATM if Bitcoin is illegal at your country since September 2014? Here's what I read in a Wikipedia page:

Financial institutions are not allowed to facilitate bitcoin transactions. In September 2014, Bangladesh Bank said that "anybody caught using the virtual currency could be jailed under the country's strict anti-money laundering laws".

Source: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Bangladesh

You should consider what you're doing, OP. Bank doesn't seem to welcome crypto so better avoid it.

Indeed, there is very little information on the Internet about the state of the issue of cryptocurrency in Bangladesh today.  Wikipedia offers very old information for 2014, although I found information in the media for the end of 2018 water, where the Bangladeshi government officially announced the prohibition of any activity related to cryptocurrency and announced the Hunt for cryptocurrency users who would be very severely punished.  Until today 2020, I believe the situation has not fundamentally changed.