Our Bitcoin ATMs charge 2 fees when buying cryptocurrency: a flat fee and a percent fee. Both of these differ depending on the cryptocurrency, all of which are shown in the chart below:
|Cryptocurrency||Flat Fee||Percent Fee|
|Shiba Inu coin (SHIB)||$2.00||10%|
We charge a fee between 10-15% depending on the location of the machine. This fee is included in the price of bitcoin shown and agreed upon on the machine. When purchasing at our BATMs, you will notice our machines show a rate that is slightly higher than the market price.
How Are Fees Calculated:
To provide an example, if the market rate for Bitcoin is $50,000 CAD when you use our ATM, you will be paying a price of $56,000 CAD per Bitcoin (assuming a 12% fee). There is also a $4.00 flat fee that goes directly to the Bitcoin network to validate your transaction.
Here is a sample calculation for our fees assuming a $100 Cash amount, a 12% Percent fee, a $2.99 Fixed fee and the Market Rate for Bitcoin is $50,000 CAD.
- First, calculate the Cryptocurrency Amount purchased
(Cash amount - Fixed fee) / (Market Rate x Percent fee) = Cryptocurrency Amount
($100-$2.99)/($50,000/BTC X 1.12)
= 0.00173232 BTC
- Then, to calculate the value of BTC purchased, use the Market Price and the Cryptocurrency Amount
Crypto amount X Market Rate = value of BTC purchased
0.00173232 BTC X $50,000/BTC = value of BTC purchased
= $86.62 worth of BTC
- So, the amount paid in fees would be equal to:
Cash amount - the value of BTC purchased = Amount paid in fees
$100 - $86.62 worth of BTC = $13.38 paid in fees
We charge a fee of 6% on all sell transactions.
This fee is included in the price of Bitcoin shown on the machine. When selling at our BATMs, you will notice our machines show a slightly different rate shown on the machine versus the current market rate for Bitcoin.
For a list of all our fees for other services, please click here.
Please note: When a discount code is used it only reduces the fees charged for the transaction.