Fees When Buying Cryptocurrency:
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 |
Bitcoin (BTC) | $4 | 17% |
Ethereum (ETH) | $3 | 15% |
Litecoin (LTC) | $2 | 15% |
Cardano (ADA) | $1 | 15% |
USD Coin (USDC) | $3 | 15% |
Tether (USDT) | $3 | 15% |
Shiba Inu (SHIB) | $3 | 15% |
Dogecoin (DOGE) | $3 | 15% |
We charge a percent fee of 15%. 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 AUD when you use our ATM, you will be paying a price of $56,000 AUD per Bitcoin (assuming a 12% fee). There is also a $4 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 $4Fixed fee and the Market Rate for Bitcoin is $50,000 AUD.
Quantity of Bitcoin purchased formula:
(Cash amount - Fixed fee) / (Market Rate x Percent fee) = Cryptocurrency Amount
($100-$4)/($50,000/BTC X 1.12)
= 0.00171428571 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
0.00171428571 BTC X $50,000/BTC = value of BTC purchased
= $85.71 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 - $85.71 worth of BTC
= $14.29 paid in fees
For a list of all our fees for other services, please check out our website.
Please note: When a discount code is used it only reduces the fees charged for the transaction.
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