What are the Limits for Buying and Selling Crypto at a Bitcoin ATM?

March 16, 2024

While many users may question the reason for Bitcoin ATM limits, they do have a purpose! SecurityThe main reason Bitcoin ATMs have limits is to protect against fraud. Unfortunately, there have been many fraudulent incidents involving scammers that play on people’s emotions, asking them to send thousands in crypto via Bitcoin ATMs. Standard bank ATMs also have withdrawal and deposit limits for similar reasons – so it’s nothing out of the ordinary for Bitcoin ATMs to do the same. RegulationsThe Anti-Money Laundering Act of 2020 required all cryptocurrency exchanges – including Bitcoin ATMs – to implement stronger anti-money laundering (AML) practices.

The source of this news is from Coinme