Post
Topic
Board Bitcoin Discussion
Re: Why arnt we seeing more bitcoin ATM popping up?
by
fdylstyx
on 27/01/2016, 22:26:02 UTC
The city I live in has but one that I am currently aware of. Same location (Hemp Clothing store) going on 2 years now I believe. I've used it a half dozen times and though I'm uncertain that there's a camera I think it most likely. The fee to buy is 5% in USD. There is no ID requirement to purchase bitcoin and the maximum one time purchase is $5,000.00 CAN. No minimum!

I have yet to withdraw cash for bitcoin but I believe there is a similar fee and cash limit. I believe higher amounts do require scaled ID requirements. The store itself offers a 10% discount on purchase of goods with bitcoin. It's situated in a high traffic area and it's a tourist/university town I live in, which is also the Provincial Capitol. I haven't been lately but I expect they're doing as good as ever with the low Canadian dollar.

It's a Robo brand BTM, simple to use, so I expect there is always a way when the will is there. I do know the store does not own the machine so they are more than likely compensated to their satisfaction for having it placed not more than 3 strides from their door.

A local bitcoin group owns it and I can only surmise they have recouped their cost for the machine and any maintenance required. So it's a win win proposition for all concerned. Unless of course you don't want your image recorded while making a transaction. There's business cards and pamphlets available if one should choose to go the local bitcoin route at a nearby coffee shop.

All in all a smooth operation.

imho
fdyl