Crypto ATM fees: what you pay and what to check
Crypto ATMs charge a percentage of your purchase, plus a spread and sometimes a network fee. Check the screen before you confirm. Cancel if no fee appears.
Vahe HakobyanEditor-in-chief
Updated Oct 6, 20263 min readFact-checked
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If you have seen a crypto ATM in a store, you may wonder what fees it charges. A crypto ATM is a kiosk that sells bitcoin or another cryptocurrency for cash or a card. The fee is not a flat surcharge like a bank ATM fee. It is a percentage of the transaction, and it can be much higher than what an online exchange charges.
What fees do crypto ATMs charge?
The main charge is a transaction fee that the operator sets as a percentage of the amount you buy. Your total cost combines three parts. The first is the operator's transaction fee. The second is a spread, which is the gap between the price you pay and the market price of the crypto. The third is a network fee, which some machines add to cover the blockchain charge.
How do you see fees before confirming?
In many states and with most operators, the screen shows the fee before you confirm the purchase. The screen should display the fee and the total you will pay. Check for a fee line on the confirmation screen. If no fee appears, cancel the transaction and do not send money.
Why are crypto ATM fees so high?
A crypto ATM costs a lot to own and run. The operator pays for the machine, the cash inside it, the rent for the space, and the compliance work that state and federal rules require. Those costs are spread over far fewer transactions than an online exchange handles. That is why the percentage fee at a crypto ATM is usually much higher than the fee at an online exchange.
What limits, ID rules, and reporting apply?
Daily purchase limits and identity verification requirements vary by operator and by state. Many operators require you to verify your identity before you can buy. Some states set their own limits. If you find an undisclosed fee or lose funds, report it to the Federal Trade Commission and the FBI's Internet Crime Complaint Center (IC3).
Frequently asked questions
Usually not. The IRS treats cryptocurrency as property, so the fee normally adds to your cost basis instead of being deducted.
A different machine may charge less, but each operator sets its own fee and spread. The total usually stays high next to an online exchange.
No. Each operator sets its own percentage and spread, so totals differ by machine, by state, and by operator.
Fees are generally non-refundable, so the machine is unlikely to return the difference. You can ask the operator, but do not count on a refund.
