BitCoin ATM

[Ricardo's]

With all the new people interest rising up in the US, by virtue of the Coinbase app, many are hoping to make a quick buck. As of right now, besides Coinbase, all major exchanges are a pain in the ••• to deal with in terms of FUNDING money to trade with. WITHDRAWING money is a whole other crapshoot. So the problem is this:

I invest in crypto, say I triple my money, and am ready to cash out. My options are going to Coinbase, which is only going to let me withdraw $10,000. Or getting verified at one of the other major exchanges that I would actually trust. Or going on a website where you can find people selling/buying crypto for cash locally. Or using a BitCoin ATM.

Does anyone have experience with one of these? I’m going to buy one, set it up at a local hipster coffee shop and test the waters.

 

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[Roulf]

I'm quite interested in hearing from more experienced fastlaners.

I don't think I'd have lots of problems at small amounts. My issue would be after you start to get to high values. I don't know but will check with my bank their policies with wire transfers and whatnot.

The whole crypto -> fiat thing is the "nightmare" about crypto right now, at least for me. Of course things might change if/when big chains start accepting cryptos.