Buying cryptocurrency became easier and faster when ATMs appeared. It is a simple way for a beginner to purchase bitcoins for cash in just a few minutes. You find a machine, follow its instructions, enter wallet ID or create one, insert money and receive bitcoins on your wallet. If you want to sell digital currency the procedure is almost the same.
However, there are bitcoin ATM charges that you’ll come across when doing a transaction. High fee is a problem that even ordinary ATMs have. You pay a machine owner for the opportunity to convert fiat currency into digital one and vice versa. According to web-service Coin ATM Radar average buy fee has gone up from 6% to 8% recently. At the same time, average sell fee is floating around 5,5%.
It means that to buy bitcoins or any other available digital currency you’ll pay additional 8% for the transaction. However, if you want to sell cryptocurrency for cash your charges will be 5,5%, so bitcoin ATM charges for cash is a bit lower.
These numbers are average but you have an opportunity to find ATM with lower fees. There are two ways to do it.
There will be some info about transactions, amounts and fees you’ve paid in bitcoin ATM chargers tickets. Usually bitcoin ATMs don’t print it, just show on screen or send to e-mail specified during the identification.