Bitcoin is very famous crypto, and we all know it. There are numerous buying and selling digital crypto traditions, but most use ATMs for it. But it is not so true to say that bitcoin ATMs are the best one there are also some negative points. It would be best to face many disadvantages when using the ATM to buy and sell this digital currency. We all know that bitcoin ATMs are easy to access and more suitable than other ways. But do you know about the charges that you have to pay at the time of buying and selling bitcoins from ATMs?
Yes, it is genuinely one who will have to pay for the use of an ATM, and the charges are so high. It would be best if you do proper research about the ATM then you should consider it to use or not. Another major drawback is that there are not many machines available globally, so there is a lack of options if one machine is not working. If you want to be familiar with the drawback of it in briefer, then you can get knowledge from this article. Read the whole article and grab the knowledge as much as you can. You can also get some knowledge about bitcoin from the Pattern Trader.
Expensive option than the other
If you think that the bitcoin ATM is one of the best and most amazing options, then you are right but think it is less expensive than others, then you are wrong. The bitcoin ATM fee is very high, and one should consider the fee first before visiting the ATM. The fee will be deducted on the average transaction will be around 9, percent and it is not fixed of all companies ATMs. There are some companies also who deduct 30 percent per transaction, which is so high.
The fee is one of the significant issues, and one should always do transactions after considering all the things. You can also go with other options for buying and selling digital crypto, which allows you to make a transaction at a low fee. However, using an ATM is highly expensive for a user, and one should be careful with that. The fee charges are so high in the bitcoin ATM, so it can be an excellent option for you if you can afford to pay, but it is not for ordinary investors.
Lack of availability of bitcoin ATM
There are still installations of bitcoin ATMs that are in process and on the way. However, the availability of these ATMs are still short, and it is one of the significant problems. Because the reason is if your city has one ATM of bitcoin and it is working, then how will you manage it. There are still so many cities where people have to take a very long ride for using the ATM. It is not a good option for visiting an ATM far from your town, and it cannot do more than a waste of time.
The trend is on the way, and it’s not widely spread that you can find out bitcoin ATMs on every street or in every city. There is still a lack of machine availability, and that is why most people are still using the risky exchange platform, and it is not OK for the investors. If you want to find out the location of the bitcoin ATM, you can use some apps that can help you find the way to ATM.
Complaint about working of machines
Everyone knows that a bitcoin ATM is one of the easiest ways to buy and sell digital coins a few times only. But it is not so true because the machine does not work correctly due to a lack of machines and poor tech support. Most of the customers complain about the working of machines they don’t work correctly, and also sometimes machine shut down for days. In that position, the user has to face all the problems, and there is no other option to visit another machine nearby.
If you are a daily user of a bitcoin ATM, it is very disappointing because no one knows about the technology when they stop and start. There is a need for maintenance, and the company owner should take care of their machines so that customers can easily use them and happily go home without any disappointment. How bad is that when you visit a bitcoin ATM and read that machine is not working.