How Coin Cloud Bitcoin ATM Exchange Rates Work
Transparency creates trust. We work every day to build and sustain the trust of our biggest asset — our customers. Recently, our customer care team (available for live chat 7 days a week!) received several inquiries about our BTM fee structure.
As you may know, BTM exchange rates are designed to cover both the concrete and flexible costs of maintaining a national network of two-way cryptocurrency ATMs. As the market fluctuates, our rates must adapt. In this article you will discover the 7 factors that impact Bitcoin ATM exchange rates.
1. Rent needs to be paid.
Coin Cloud pays our hosts a monthly rent to sub-lease the space inside of their stores where our kiosks operate. This allows us to put machines in prime, convenient locations for you.
2. A compliant BTM is a safe BTM.
As a Money Services Business (MSB), Coin Cloud has a full compliance team that executes a Bank Secrecy Act program to prevent crime and money laundering.
3. Consider how the cash is transported.
Coin Cloud kiosks are serviced by armored truck carriers that pick up and drop off cash at each of our 627+ locations.
4. We have relationships with several banks.
MSBs, bitcoin-related businesses, and cash-intensive businesses (Coin Cloud matches all three!) require unique banking relationships that incur additional fees from standard checking accounts.
5. Repairs and maintenance, blah!
Cryptocurrency kiosks require maintenance and repairs to stay operational, including parts and bill jams that need repairs.
6. Covering inherent operational risk.
Coin Cloud must compensate for theft, damage, or other adverse outcomes that may occur.
7. Best-in-class customer support.
Coin Cloud provides live phone and email support seven days a week to help guide customers through the process of buying and selling cryptocurrency.
We’ve set out to build a relationship with you and the rest of our customers. If you have any questions or need us to clarify any element of this, please don’t hesitate to reach out to our awesome customer support team at (855) 264–2046. They are highly skilled and willing to help you make decisions about our service as well as understand how to use Coin Cloud Bitcoin ATMs.
What Is Coin Cloud?
Coin Cloud is a Bitcoin ATM company headquartered in Las Vegas, Nevada. With over 650 locations nationwide, Coin Cloud boasts one of the largest and fastest-growing networks of two-way Bitcoin ATMs in the world. Our network has helped more than 144,000 customers buy and sell cryptocurrency since opening our doors in 2014. To find your nearest Bitcoin ATM, please visit CoinCloudATM.com.