This one will be pretty short and sweet. My point is quite simple: Coin Cloud "Digital Currency Machines" - or colloquially & inaccurately known as Bitcoin ATMs - are complete rip-offs. I noticed at my local convenience store; the price of Bitcoin and Ethereum are completely off base:
The price of Bitcoin is 13% higher than what it was actually trading for at the same time. Ethereum as well is listed as 13% higher than the actual trading price. I'm not sure if this is actually legal or not, perhaps it is. After all, CoinCloud is a business out to make money. However, if you are thinking of buying some crypto, you would probably be better off using a major exchange so you don't get price gouged.
The $25 worth of free Bitcoin was almost enough to suck me in, until I realized the prices were completely off & even the free satoshis wouldn't compensate for that discrepancy. Surely I can't imagine any experienced crypto trader using such a machine, but definitely if anyone new is looking to use one, steer them clear.
These machines may be good for the promotion of crypto but why pay a 13% premium for digital currencies if you don't have to?
