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Reciept from atm shows $3253 more than current BTC price

xcaretxcaret Member
edited December 2017 in Bitcoin 101
I just bought $2100 worth of B/C at an atm here in Calgary. the receipt says "Exchange rate $24813.83 .
I got home and looked on the web, B/C at $21472.97 .
Does this mean had I bought one whole B/C the exchange people would pocket 3340.86 ?? That's close to 15 %


  • CoinGuyCoinGuy Administrator
    Not necessarily. There is no set BItcoin price per se. The price set by the various exchanges order books from supply and demand. They may make a profit buying from a different exchange. You paid a premium for their service, but they may also have bought their Bitcoin too high. There are a various factors. It’s also how some people make money playing these spreads between exchanges. You can check out to see the rate at 4 exchanges right now, as well as the buy/sell prices. The rate on Cbix is an average of 4 exchanges.
  • To add, BTC could have dropped from the time you were at the ATM, to the time you got home and checked your computer..

    From my understanding, most ATM's are charging around 8-10% premium.
  • When I sell my B/C back to the same atm do I pay another percentage ? If so what is the norm atm's are charging when they buy back B/C's ?
    So far I paid about 15% regardless who it went to.
  • Yes, they will charge you a fee both ways.
  • It appears that unless my recent purchase goes up by 30% ( a safe estimate) I won't see a profit .
    I think I paid 5% for the B/C I bought earlier this year ,
    I should have done my due diligence .
  • @xcaret I recently was having trouble fathoming these excessive fees myself. But like any product in a free market, with time the price will come down. crypto is on fire right now.
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