That is pretty awesome that they are collaborating in that way. That is a lot of locations also. But also that is a pretty high fee as well. Exchanges and other services such as our own offer purchasing online with much lower fees. Bitcoin ATMs dont offer much privacy either as you usually need to provide ID and KYC items as well for purchases.

It would have been an overly great news if it weren't the 11% fees.
That's too much, especially as I expect KYC also become - sooner or later - mandatory for all amounts, hence even more premium as taxes.

Exactly my concerns on Bitcoin ATMs even though most Bitcoin ATMs require KYC it also charges high fees even more than exchanges, apart from the part on their side it is privacy-conscious in this I think their may not require KYC for now but may be soon KYC will become mandatory.

Total number of Bitcoin ATMs Tellers in the United States: 33335
No wonder the total Bitcoin ATMs in the United States have become more prominent and might in this business industry there's a big profit waiting ahead.
Kwik Trip has a large branch in any country in the US and maybe they think that having a business like this is in demand.

Those people who are concerned about their privacy might didn't want these Bitcoin ATMs but for those who want to have Bitcoin very quick or fastest purchasing, maybe this is the best news for them.  So, it has still an advantage in the crypto space.

Dare I say it; absolute daylight robbery. To be honest, while ATMs might be a good way of increasing adoption, this might actually do more harm than good, since people who are interested in using them, might go to use them, and realise that they charge a massive fee like that, which ultimately leads to them losing interest thinking that Bitcoin is fundamentally like that.

I know they have to recoup the costs of the machines somehow, but 11% is absolutely ridiculous. I'd be interested to know anyone that regularly uses them with those sort of fees. I'm not sure there's any monthly statistics on people using them, i.e just the number of people of independent deposits/withdrawals. With those kinds of fees, the convenience for me doesn't out  weigh those enormous fees.

that's the drawback of these ATMs. once the user got burned with the fees, they will look for other economical options like using even their local crypto-exchange. you are only using BTC ATM for convenience purposes. some are just curious about it but for regular crypto tx, you won't go with the ATM. so in the long run, i don't think this kind of business will thrive, unless they will make their fees competitive with online options.

Being charged 11% might sound a bit excessive. So in my opinion for large transactions, it is more effective. If it only sends a few Sats/dollar and we have to cover 11% then it will tend to fall behind.

In addition, I think in the future this will decrease if the interest of ATM users increases and asks for waivers.

We have commented on this in the Spanish section. The shitcoins.club ATM network has gone from not having KYC for transactions under 1,000 euros to having it for any amount jusf few days ago. If we think about it, someone with 30,000 euros undeclared could go once a day for a month to convert them for 999 euros without paying taxes to the Treasury.

Also many ATMs have had to close in UK because of this issue by the looks of it.

https://bt.irlbtc.com/view/5389248.msg59490590#msg59490590

I think the attraction of these ATMs is the non-kyc. If there are going to be kyc for all operations, I don't see much of a future for them, and therefore I'm not very enthusiastic about news like this. I don't know if Kwik Trip have thought about this when making the investment, I don't think so.

This can be a piece of good news in the beginning when we see 800 new bitcoin ATMs installed and as a part of adoption this is a good step forward in theory maybe that was because of the demand from people's side to using bitcoin and cryptocurrencies, so the famous companies will expand their bitcoin services to people because of this demand, however, the amount of 11 percent fee is a lot for people especially if they want to use bitcoin ATMs for huge amounts money they should pay too much for the fees. Also the other nad side of bitcoin ATMs in the KYC part with all benefits of bitcoin ATMs still the clients have to provide their ID cards to use the ATMs with is not good for the privacy.

And if we think about it even further, someone who does not will to pay taxes will continue not to pay taxes even when constrained.  So if we draw a line after all these laws, what happens is you and me are fair towards the Treasury but subjected to intrusive regulations and procedures while those not willing to pay taxes will simply continue to avoid them.

This is nowhere near a good excuse for mandatory KYC.  Impose this for all existing ATM's for any value exchanged and what happens is the 'bad' citizens will just start trading Peer to Peer, maybe for even better fees than ATM's would charge you.  A big win for the 'bad' citizen.  On the other end, you have to now share personal documents with a stranger's machine and have no assurance it will not make you end up being a victim of identity theft or other attacks this could lead to in the future.

No offense.  But I rather say we are putting a lot of pressure and focus on the wrong end of the 'bad citizens'.  €1,000 dirty money is nothing.  Remember we are paying taxes to institutions ran by politicians making a fortune out of dirty money.  Remember there are billions or even trillions moving around in dirty money and nobody does anything about it because of the names, power and positions of these people.

Remember the rich are not paying taxes.  They are avoiding them.  Legally, but they are doing it because they have the regulations ready just for them.  They have the money, the influence and the power.  You can not avoid them legally as a regular citizen.  Their billions are not taxed but you have to pay for your $100.  Makes me wonder how humans ever consider this being fair because if we want the discrepancy between us and the Rich to shrink up, we would probably and logically need to do the opposite.

Then why make it mandatory even for $100?  Even for $10?  Who in their right mind would go to an ATM and exchange $100 dirty money a thousand times to withdraw their dirty $100,000?  And if the ATM has KYC and AML limits, do you think the dude would actually use an ATM over alternatives such as trading locally Peer to Peer knowing the ATM might take a snap of his face every transaction and all of a sudden they have a hundred images of your face dating the same month?  If you impose KYC for all values and the trader moves on to the Peer to Peer exchange, then was KYC even necessary at all?

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Regards,
PrivacyG