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Well, it's better than nothing, and at least customer service got back to me.Ī coworker later explained to me about that exorbitant transaction fee, which is due to the fact that the bitcoin network is so crowded and congested. The money cleared, and according to Coinbase, I'm getting $1.65 back on my $11 investment. Please provide me with the phone number you used at the machine and a wallet address where you can receive btc too.' I am estimating that the amount that you will receive will be $1-2 in btc. Miners fees are at $40-$45 per transaction.

The reason why your transaction did not go through was due to the miners fee. However, we can manually send you the bitcoin at the appropriate rate. I reached out to Coin Cloud, the company that made the ATM, to see if this was working as intended. I even asked for a receipt, which didn't print. Whatever.īut then, my $11 never came back out. It warned me that in doing so, I would 'forfeit' my bitcoin, and not get any in return. Still not enough! I guessed there was some kind of minimum that I just wasn't hitting, but the machine wasn't really communicating it to me. So I put in the only other bill I had on me, which was a $10. It told me it wasn't enough to receive any bitcoin, whatever that meant. The ATM verified my identity with a text message sent to my phone, and everything went smoothly. Before I even started, it told me it was valuing bitcoin at a hair over $15,000 per coin, meaning my $1 would buy the barest, tiny sliver of a single coin. The ATM experience itself started out smoothly. Account icon An icon in the shape of a person's head and shoulders.

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