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Bitcoin ATM Network Increases Daily Withdrawal Limit to $5000

1630Boston1630Boston Posts: 13,781 ✭✭✭✭✭
in Precious Metals

Driving down the road last week, saw a sign at a gas station that read "BITCOIN ATM INSIDE"
Didn't really think about it till my memory was jogged today.

Some machines are buy only...some are buy and sell.
$5000 limit ? Must be some cash in the ATM.

Coinsource, a company that claims the title of the world’s largest Bitcoin ATM network, has increased the withdrawal amount to $5,000 USD. Coinsource says this comes in response to growing demand for more ATMs and the company’s growing presence in Mid-Atlantic states, including Delaware, Pennsylvania, and New Jersey.

Coinsource CEO, Sheffield Clark says they want to stay ahead of the curve as Bitcoin goes mainstream.

“As the only nationally licensed and federally regulated operator, our decision serves as a testament to the growing demand for access to cryptocurrency and digital assets,” said Clark. “The future of finance is in convenience and security. We want to be at the forefront of that to better service the 164 million residents across 19 states already utilizing our technology, while continuing to rapidly grow.”

https://www.crowdfundinsider.com/2018/07/136357-bitcoin-atm-network-increases-daily-withdrawal-limit-to-5000/

Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

Bad transactions with : nobody to date

Comments

  • OPAOPA Posts: 17,121 ✭✭✭✭✭

    All I can say....get your money & run.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,823 ✭✭✭✭✭

    @OPA said:
    All I can say....get your money & run.

    yepper, before someone else gets it.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭

    Interesting !!! :)

    Timbuk3
  • derrybderryb Posts: 36,823 ✭✭✭✭✭

    So, what's the ATM fee to sell $5K in bitcoin?

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • SmudgeSmudge Posts: 9,524 ✭✭✭✭✭

    10% fees wow.

  • 1630Boston1630Boston Posts: 13,781 ✭✭✭✭✭

    That's what I saw also :smile:

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

  • dpooledpoole Posts: 5,940 ✭✭✭✭✭

    @Smudge said:
    10% fees wow.

    You can imagine what they'd charge if they were auctioning them.


    Here's a warning parable for coin collectors...



  • ADGADG Posts: 438 ✭✭✭

    10% transaction fees. Nice if you find people dumb enough to use them.

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