Bitcoin ATM Fees

[Bitcoin++]

Does anyone have a list of Bitcoin ATM fees?

It should show both the fee and how the exchange rate is calculated.

[BitCoinDream]

Does anyone have a list of Bitcoin ATM fees?

It should show both the fee and how the exchange rate is calculated.

Can u please tell me the real need of a Bitcoin ATM except for fancy ?

[Justin00]

I thought it was just me who thought that.

can't think of any reason why someone needs bitcoins RIGHT NOW!!!! except to buy 'items' on those underground websites...

and yeah yeah its cool.. but the reason for them is.. ? and I know people will say spread the word of bitcoin, but really... new people buy them... then what ?

Does anyone have a list of Bitcoin ATM fees?

It should show both the fee and how the exchange rate is calculated.

Can u please tell me the real need of a Bitcoin ATM except for fancy ?

[Bitcoin++]

Isn't this a bit like asking why we need ATMs at all?

[keithers]

Does anyone have a list of Bitcoin ATM fees?

It should show both the fee and how the exchange rate is calculated.

Im not site how much the fees are. To be honest I have never even seen a btc atm in person. When I saw those ones that were supposed to come out for like $1,000 I wanted to buy one. Im site the fees are so small that you don't even need to worry about it...

[CoinATMRadar]

I'm taking care of coinatmradar.com and there are fees available.
But this is the most scarce info the operators provide to be honest.
So in many case they are n/a, sometimes it is just %, and sometimes it is full info including the bitcoin exchange where from the feed is taken.

PM me for further info. What for do you need this?

[bryant.coleman]

I think that the ATMs operated by Quadriga CX (they have a few Bitcoin ATMs in Canada) charges the lowest fees. Their fee is 3% (1.5% for Quadriga CX and the remaining for the franchisee operator). On the other hand, the Bitcoin ATM at Maison du Bitcoin (Paris, France) charges as much as 10% in fees (includes a 2% VAT, if I remember correctly).

[Cubic Earth]

Can u please tell me the real need of a Bitcoin ATM except for fancy ?

There are many possible use cases.  One likely scenario is that the ATMs will be installed the type of areas that have payday loan and check cashing establishments.  People who don't have bank accounts probably won't have credit or debit cards, and obviously that is a barrier to purchasing things online.  In such neighborhoods, a bitcoin ATM would be the gateway to turn physical cash into bitcoins that could be used to pay Amazon. netflix, etc.

[Justin00]

just outa curiosity, because someone mentioned debit/credit cards... here in Australia alot of banks sent out free debit cards for savings accounts, or if they didnt send it out you have to just ask them.

is that the same in the USA and Europe ?

[Febo]

Does anyone have a list of Bitcoin ATM fees?

It should show both the fee and how the exchange rate is calculated.

Can u please tell me the real need of a Bitcoin ATM except for fancy ?

you dont need localbitcoins.com anymore. and you can get bitcoins for cash.

[BitCoinDream]

Isn't this a bit like asking why we need ATMs at all?

No, because our legacy financial system is dependent on hard currency and ATM is a means to provide that. U cant get hard currency from your laptop (I'm not considering 3D printer here). But Bitcoin is primarily a digital currency which does not require a hard currency format. Digital transmission can take place using you laptop/mobile phone. Hence ATM is a redundancy for Bitcoin.

[Cubic Earth]

just outa curiosity, because someone mentioned debit/credit cards... here in Australia alot of banks sent out free debit cards for savings accounts, or if they didnt send it out you have to just ask them.

is that the same in the USA and Europe ?

I live in the USA.  It's the same here.  ATM cards almost always have the 'Debit' functionality built in, and they typically have 'credit card' numbers on the front as well.  They can be processed as debit or credit, depending on you and the merchant.  Even if it is processed as credit, the money still comes out of your bank account instantly.  In my experience, the cards have always been free.

[ShakyhandsBTCer]

I don't think they have fees per say, but rather charge a markup/discount of the exchange rate of the exchange they use.

[medicine]

I believe there are many uses of btc ATM machines.  There is one in the cafe our bitcoin meetup group meets at each week, and we often use it to demonstrate to newbies a quick and easy way to get their first bitcoins.  Some people don't want to go through the process of signing up to an online exchange if they only want to buy $20-$100.  An ATM is a great way to get a small amount of bitcoin.

Remember, many bitcoin ATMs are two way, you can also sell btc for local currency.

The machines I have seen charge anywhere from 1%-5%.  These machines are also good if you are traveling in a foreign country and need a bit of local currency.  You can sell coins and get back local currency on the spot.  If they charge you 1% on the transaction it will be cheaper than exchanging money at a bank.

I think as the number an locations of ATMs grow the fees will move lower as more people use the machines.  

They are a great way to make bitcoins accessible to the public, much easier to use than an online exchange, and more convenient than local bitcoins, especially in some countries where the local bitcoins market doesn't exist.

Soon asking a question like "what is the purpose of a bitcoin ATM?" will be the same as asking the question "What is the purpose of a regular ATM?"
 

[DSPay]

Any result?

[waldox]

current atm fees are quite high and are set by the atm owner
usually its 5-30%
localbitcoins.com is much cheaper

[franky1]

Can u please tell me the real need of a Bitcoin ATM except for fancy ?

if your american. imagine you went to europe and wanted to change your bitcoins for euros
in 2012 scenario
1. set up euro bank account, go to local bitcoins and find a euro trader for bank transfer
or
2. go to localbitcoins and find someon in your vacation destination area willing to meet you with a suitcase of bank notes.

2014 scenario
to to ATM and cash out

I thought it was just me who thought that.
can't think of any reason why someone needs bitcoins RIGHT NOW!!!! except to buy 'items' on those underground websites...
and yeah yeah its cool.. but the reason for them is.. ? and I know people will say spread the word of bitcoin, but really... new people buy them... then what ?

apart from that there are other uses..
value thats not locked in as your local currency making only 1% a year
international movement of value
no need for a suitcase of bank notes at customs
pay your girlfriend without wife seeing it on bank statement
paying for online good for other people without the delivery address having to be the billing address
plus many more, just cant be assed to write every example under the sun

[xpalax]

"The D" Hotel/Casino here in Las Vegas has a Bitcoin ATM, and from what I heard was that you can use Bitcoins to pay for your room, buy food, buy souvenirs, pretty much everything except gamble with.  They way they market it is that instead of carrying $100,000 cash onto a plane to Las Vegas, just load it up on the ATM and withdraw what you need without needing to exchange at a bank.

From what I heard, the company plans on putting in 8 more all over vegas and in some more Hotels. Capitalism is great.

[nwfella]

just outa curiosity, because someone mentioned debit/credit cards... here in Australia alot of banks sent out free debit cards for savings accounts, or if they didnt send it out you have to just ask them.

is that the same in the USA and Europe ?

I live in the USA.  It's the same here.  ATM cards almost always have the 'Debit' functionality built in, and they typically have 'credit card' numbers on the front as well.  They can be processed as debit or credit, depending on you and the merchant.  Even if it is processed as credit, the money still comes out of your bank account instantly.  In my experience, the cards have always been free.

Second this.  Here in Oregon my experiences have been the same as this fellows.  Debit card functionality typically built into the other monthly fees they hit you with.

[Musent]

It's 0.02%.