03-12-2022, 10:46 PM
Why would anyone ever use a Crypto ATM?
<!-- SC_OFF --><div class="md"><p>Yesterday, the UK decided to ban Crypto ATMs, a decision that was shared on here quite a few times and that I am incredibly neutral about - I really, really don't care. But it reminded me of their existence and made me wonder: why would any person in their right mind ever use one of them?</p> <p>According to various sources I found, they have absurd fees of like 10-20% (compared to fractions of a percent on exchanges), in most countries KYC is still required - I just can't of any reason to use one! Why would I want to specifically go to a location to buy crypto with more fees rather than buying them online with less fees?</p> <p>Is their only use tricking newbies who don't know where else to buy BTC and who would not know that a 10% fee is absurd? I really don't understand it.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/mic_droo"> /u/mic_droo </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tcfugo/why_would_anyone_ever_use_a_crypto_atm/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tcfugo/why_would_anyone_ever_use_a_crypto_atm/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Yesterday, the UK decided to ban Crypto ATMs, a decision that was shared on here quite a few times and that I am incredibly neutral about - I really, really don't care. But it reminded me of their existence and made me wonder: why would any person in their right mind ever use one of them?</p> <p>According to various sources I found, they have absurd fees of like 10-20% (compared to fractions of a percent on exchanges), in most countries KYC is still required - I just can't of any reason to use one! Why would I want to specifically go to a location to buy crypto with more fees rather than buying them online with less fees?</p> <p>Is their only use tricking newbies who don't know where else to buy BTC and who would not know that a 10% fee is absurd? I really don't understand it.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/mic_droo"> /u/mic_droo </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tcfugo/why_would_anyone_ever_use_a_crypto_atm/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tcfugo/why_would_anyone_ever_use_a_crypto_atm/">[comments]</a></span>Kind Regards R