Best Bitcoin ATMs: Fees, Exchange Rates, and KYC Requirements

To determine the best Bitcoin ATM in the US, I have prepared a detailed comparison of Bitcoin ATMs from Bitcoin Depot, Coin Cloud, LibertyX, Bitcoin NW, Margo Bitcoin, Coin Flip, Coinstar, Coinhub, Byte Federal, Unbank, Athena, and Just Digital, focusing on minimizing fees, exchange rates, and Know Your Customer (KYC) requirements.

Coin ATM Radar (https://coinatmradar.com/) can be used with a map to find and filter Bitcoin ATMs geographically.

Bitcoin Depot

Bitcoin Depot is one of the largest Bitcoin ATM networks in the United States.

• Fees: Bitcoin Depot charges a fee of around 15-20% per transaction. The fee can vary depending on the location and the amount of the transaction.
• Exchange Rates: The exchange rate at Bitcoin Depot ATMs is typically higher than the market rate, reflecting the convenience fee charged by the operator.
• KYC Requirements: Users need to verify their identity by providing a phone number, government-issued ID, and sometimes a selfie.

Coin Cloud

Coin Cloud is known for its user-friendly interface and wide range of supported cryptocurrencies.

• Fees: Coin Cloud charges a fee of approximately 10-20% depending on the transaction size and location.
• Exchange Rates: Coin Cloud’s exchange rates are slightly above the market rate, which includes the operator’s fee.
• KYC Requirements: KYC requirements include phone number verification, government-issued ID, and a selfie for transactions above certain thresholds.

LibertyX

LibertyX offers Bitcoin purchasing services through a network of ATMs, cashiers, and debit kiosks.

• Fees: LibertyX charges a variable fee ranging from 1.5% to 8% depending on the method of purchase and location.
• Exchange Rates: The exchange rate is competitive, often closer to the market rate, especially when compared to other Bitcoin ATM operators.
• KYC Requirements: KYC requirements vary by transaction amount but generally include phone number verification and a government-issued ID.

Bitcoin NW

Bitcoin NW is a regional Bitcoin ATM provider primarily operating in the Pacific Northwest.

• Fees: Bitcoin NW charges a fee of around 10-15% per transaction.
• Exchange Rates: Exchange rates at Bitcoin NW ATMs are typically higher than the market rate, incorporating the convenience fee.
• KYC Requirements: Users must provide a phone number and government-issued ID for identity verification.

Margo Bitcoin

Margo Bitcoin is a smaller Bitcoin ATM operator with a focus on user experience.

• Fees: Margo Bitcoin charges fees between 12-18%, depending on the location and transaction amount.
• Exchange Rates: The exchange rate is higher than the market rate, as it includes the service fee.
• KYC Requirements: KYC processes include phone number verification and government-issued ID, with additional requirements for larger transactions.

Coin Flip

Coin Flip is known for its low fees and extensive network.

• Fees: Coin Flip charges a fee of about 18.8% per transaction plus a $2.99 transaction fee, which is relatively higher compared to other operators. Use a code of ’30CODE’ to reduce the fee by 30%.
• Exchange Rates: The exchange rate is competitive, closer to the market rate, making it a popular choice among users.
• KYC Requirements: For transactions over $900, users need to provide a government-issued ID and phone number.

Coinstar

Coinstar has expanded its services to include Bitcoin transactions at its coin-counting kiosks.

• Fees: Coinstar charges a fee of around 11%, which includes the convenience of converting physical coins to Bitcoin.
• Exchange Rates: The exchange rate is slightly higher than the market rate to accommodate the service fee.
• KYC Requirements: KYC requirements include phone number verification and government-issued ID for transactions exceeding certain limits.

Coinhub

Coinhub is a fast-growing Bitcoin ATM network with a focus on simplicity and accessibility.

• Fees: Coinhub charges a fee between 10-15% depending on location and transaction size.
• Exchange Rates: Coinhub’s exchange rates are usually higher than the market rate, which covers the operational and service fees.
• KYC Requirements: Users are required to verify their phone number, government-issued ID, and may need a selfie for larger transactions.

Byte Federal

Byte Federal provides Bitcoin ATMs across the U.S. and focuses on a straightforward process for users.

• Fees: Byte Federal charges fees of around 10-15%, depending on the transaction size and location.
• Exchange Rates: The exchange rates tend to be slightly higher than the market rate to cover service fees.
• KYC Requirements: Byte Federal requires a phone number and government-issued ID, and sometimes additional verification for larger amounts.

Unbank

Unbank specializes in making cryptocurrency purchases accessible through their wide network of Bitcoin ATMs.

• Fees: Unbank charges between 9-15% in fees, depending on the size and location of the transaction.
• Exchange Rates: Their exchange rate is slightly above the market rate, covering the service fees involved.
• KYC Requirements: KYC generally involves phone number verification and a government-issued ID for larger transactions.

Athena

Athena Bitcoin focuses on both Bitcoin ATMs and mobile transactions with a user-friendly platform.

• Fees: Athena charges between 7-15%, depending on the transaction amount and location.
• Exchange Rates: The exchange rate is competitive, though slightly above the market rate to account for the operator’s fees.
• KYC Requirements: Users must verify their identity with a government-issued ID and phone number for most transactions.

Just Digital

Just Digital is an emerging Bitcoin ATM provider, with a focus on minimizing fees for users.

• Fees: Just Digital charges lower fees, typically between 5-10%, making it a competitive choice for Bitcoin transactions.
• Exchange Rates: Exchange rates are near the market rate, ensuring users get better value on their transactions.
• KYC Requirements: KYC involves phone number verification, and for larger transactions, government-issued ID is required.

Summary Table

Recommendation

For users seeking no extensive KYC requirements with competitive fees, Coin Flip remains the best option. It offers relatively high fees at around 18% and competitive exchange rates. Additionally, Coin Flip only requires KYC for transactions over $900, making it suitable for smaller transactions without the need for extensive identity verification.

Alternatively, LibertyX may be an excellent choice for those preferring more purchasing options and lower fees, depending on the method used. On the other hand, if proximity to a kiosk or ATM is the primary concern, Coinhub and Bitcoin Depot have a large network and easy-to-use machines, albeit with higher fees.

By choosing Coin Flip for smaller transactions, users can benefit from lower fees and avoid extensive KYC requirements, providing a more seamless and cost-effective way to buy or sell Bitcoin.

Useful Links

• Bitcoin Depot
• Coin Cloud
• LibertyX
• Bitcoin NW
• Margo Bitcoin
• Coin Flip
• Coinstar
• Coinhub
• Byte Federal
• Unbank
• Athena Bitcoin
• Just Digital