Here in Canada, the price of the bitcoin is approx $3,100 Canadian dollars. However, the ATM gives you a rate of approx $4,100. I deposited $100 and got back $77 worth of BTC. Is this the normal rate?
That's exactly one reason why I won't use the official means to either buy bitcoin, or sell because premium they place when you want to buy and excessive discount when selling to them. Over here, we have two exchange rates since our bitcoin needs to be denoted in dollars, the official exchange rate and the black market rate which is the most realistic in other to make the right amount of money in case one is selling and that's what I adopt.