RE: Bitcoin ATMs ?
Anyone here use Bitcoin ATMs ? I saw this on Bitcoinist this morning :
BITCOIN ATMS IGNORE MARKET DOWNTURN, RAPIDLY SPREAD THROUGHOUT US CITIES
Bitcoin ATMs continue to spread across the United States at a rapid clip.
Chicago is the latest city to see an increase in ATMs supporting both the cryptocurrency market leader and various popular altcoins — thanks to an Atlanta-based company called Lux Vending, which has dropped 30 ‘Bitcoin Depot’ ATMs throughout the Chicago already this year.
The addition to Lux’s machines reportedly brings Chicago’s total Bitcoin ATM count up to nearly 100.
The fifth-most-populous North American city is already a hotspot on the Bitcoin radar, with major exchanges CME Group and Cboe Global Markets already offering non-physically-settled bitcoin futures contracts. San Francisco-based exchange giant Coinbase recently set up an office in Chicago, and various cryptocurrency-oriented startups currently call the Windy City home.
Bitcoin ATM’s are know to be the most convenient way to purchase bitcoin using cash. In the early stages of Bitcoin, these machines allowed for anonymous cash purchases but that’s not the case anymore. The machines recently were required to collect KYC information (Know Your Customer) just like online exchanges like Kraken and Gemini. Bitcoin ATM fees are generally much much higher than online exchanges. Sometimes as high as 7%. Really the only upside to ATMs the fact that you can buy in cash.