Bitcoin ATM Disappointment and Huge Bank Like Fees for Using Them
Bitcoin ATM Disappointment. A reader of my articles and CCN contacted me about his experience with a the Bitcoin ATM Robocoin at the D in Las Vegas recently. He was upset not only to it being difficult to use, but the fees were very high as well. High fees are one thing that people who use Bitcoin and cryptocurrencies want to get away from having to pay just to make a transaction. The clunky interface and difficulty to make a transaction it can and does leave many users frustrated and to people new to Bitcoin afraid to try it even as the ATM does not work as smoothly as the ones they are....
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Robocoin Bitcoin ATM operators now have a new attractive alternative to abiding by Robocoin's new compliance standards. In response to Robocoin's move to enforce AML/KYC compliance for all of its ATM operators (even non-American ones), some Bitcoin enthusiasts have banded together to port Lamassu's open source Bitcoin ATM software to run on Robocoin's hardware. Currently, the Lamassu Robocoin ATMs only have buy functionality; however, both sell and optional AML/KYC features are also in the works. Also read: Bitcoin ATM Disappointment and the Huge Bank-like Fees for Using Them. New....
Arianna is a bitcoin enthusiast and investor, who organizes a bitcoin meetup group in New York. Bitcoin has been blowing up the news lately, mostly with bad press stemming from Mt. Gox's recent collapse. If you're a business owner who is considering accepting the digital currency, this may be causing heart palpitations. Despite the temporary market unrest, there are huge opportunities for merchants to benefit from accepting bitcoin - I've outlined a few below. Cost. Credit card fees usually run around 2 to 3%, which can make a considerable dent in the profits of businesses operating on low....
The era of no-fee trading in China appears to be over. Following in the footsteps of China's 'Big Three' exchanges, smaller competitors BTC Trade, BTC100, CHBTC, Dahonghuo, Yuanbao and BitBays all moved to impose or increase trading fees yesterday in the wake of a meeting with the People's Bank of China, China's central bank. Both BTC Trade and CHBTC said that the fees would come into force on 13th February, whereas the other exchanges did not identify a starting date. Further, with the exception of BTC 100 and BitBays, the exchanges all moved to add 0.2% maker and taker fees. BitBays is....
The Central Bank of Nigeria has said it is slashing transaction fees for the e-naira platform by 50% — a move which the bank claims will increase the volume of transactions on the central bank digital currency (CBDC) platform. The central bank also believes that wider adoption of the CBDC will bolster Nigeria’s cross-border trade volumes. Boosting E-Commerce Transaction Volumes In yet another move aimed at boosting the embrace and adoption of the e-naira central bank digital currency (CBDC), the Central bank of Nigeria (CBN) reportedly said it will slash the service fees....
Web3 security firm Supremacy highlighted Etherscan transaction history that showed the hacker(s) were able to swipe 204 ETH in gas fees so far, worth roughly $259,800. A bug in the smart contract code for the Ethereum Alarm Clock service has reportedly been exploited, with nearly $260,000 said to have been swiped from the protocol so far. The Ethereum Alarm Clock enables users to schedule future transactions by pre-determining the receiver address, sent amount, and desired time of transaction. Users must have the required Ether (ETH) on hand to complete the transaction and need to pay the....