Introduction to Bitcoin Depot ATMs
Bitcoin Depot operates the world's largest network of cryptocurrency ATMs with approximately 6,200 machines globally. These ATMs provide a convenient way to buy and sell Bitcoin using cash, though users should be aware of associated fees and processing times.
Key Features
- Flat transaction fee: $2.75 per trade (buy/sell)
- Network fees: 1-2% of transaction amount (variable)
- Daily withdrawal limit: $2,900
- Transaction range: $5–$8,500 per day (via Coinsource-powered machines)
How Bitcoin Depot ATMs Work
Step-by-Step Process
- Enter transaction amount: Specify how much BTC you want to purchase.
- Provide wallet address: Scan your QR code or manually enter details.
- Insert cash: Currently, only cash payments are accepted.
- Wait for confirmation: Transactions require 3-6 blockchain confirmations.
👉 Discover how blockchain confirmations affect transfer times
Processing Times
While some transactions complete within minutes, network congestion may delay transfers up to 24 hours (based on Reddit user reports).
Fee Structure Breakdown
Bitcoin Depot ATMs charge fees from two primary sources:
| Fee Type | Description | Typical Cost |
|---|---|---|
| Operator Fee | Service charge by Bitcoin Depot | $2.75 flat |
| Network Fee | Miner processing fee | 1-2% |
Additional considerations:
- Fees update every 15 seconds for accuracy
- Total costs display on ATM screens before confirmation
Comparative Fee Analysis
Crypto ATMs generally charge 5-20% per transaction. Bitcoin Depot's fees fall within this range:
- Lower range: 2-4% (select operators)
- Average: 15% (industry standard)
👉 Learn why crypto ATM fees vary by location
Transaction Limits and Requirements
- Minimum purchase: $20
- Maximum daily purchase: $15,000 (operator-dependent)
- Payment method: Cash only (no credit/debit cards accepted)
Licensing and Security
Bitcoin Depot partners with Coinsource, a federally regulated operator with:
- 20+ state licenses
- Virtual Currency Business License (NY)
- Transparent fee policies (though exact rates aren't always disclosed)
FAQ Section
Q: How long do Bitcoin Depot ATM transfers take?
A: Typically minutes, but may extend to 24 hours during network congestion.
Q: What's the maximum daily purchase amount?
A: Up to $15,000 depending on operator policies.
Q: Are debit cards accepted?
A: No—only cash payments are currently supported.
Q: How do network fees affect my transaction?
A: They're added to the operator fee and displayed before confirmation.
Conclusion
Bitcoin Depot ATMs offer accessibility and security for crypto transactions, though users should anticipate:
- Variable processing times
- Transparent but potentially high fees
- Cash-only payment requirements
Always verify local machine fees and limits before initiating transactions.