Cryptocurrency Q&A
How much can a Bitcoin ATM machine charge?
How much can a Bitcoin ATM machine charge?
MysticStar
Sun Jul 14 2024
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5 answers
1787
As a curious observer in the world of cryptocurrency and finance, I'm often fascinated by the various methods people utilize to acquire digital assets. One such method that has piqued my interest is the Bitcoin ATM machine. These machines allow for the convenient purchase of Bitcoin, often in a matter of minutes. However, I'm curious about the associated costs. Specifically, how much can a Bitcoin ATM machine charge for its services? I understand that fees may vary depending on the machine, location, and perhaps even the amount being transacted, but I'm looking for a general range or an average fee structure to gain a better understanding of the overall cost to utilize this method of acquiring Bitcoin.
5 answers
Caterina
Mon Jul 15 2024
According to this law, bitcoin ATM operators are prohibited from collecting fees that exceed $5 or 15% of the transaction value, whichever is greater.
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PearlWhisper
Mon Jul 15 2024
This regulation will become effective in 2025, providing a clear framework for bitcoin ATM operators to adhere to.
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Lucia
Mon Jul 15 2024
Cryptocurrency transactions are gaining popularity, and with this rise, bitcoin ATM machines are becoming a more common sight.
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SeoulStyle
Mon Jul 15 2024
Some of these ATMs advertise limits that can reach up to $50,000, allowing users to withdraw or deposit significant amounts of cryptocurrency.
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Chloe_martinez_explorer
Mon Jul 15 2024
However, to ensure consumer protection and prevent excessive fees, a new law has been introduced.
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