A Bitcoin ATM (BATM) with strategic locations across the DFW area is very valuable. So valuable that in 2019, Bitcoin Depot, a cryptocurrency ATM network with machines across the nation, bought DFW Crypto. The acquisition price remains private.
Bitcoin Depot is based in Atlanta, Georgia and is the largest crypto ATM provider in the United States. The ATMs allow users to buy and sell the following cryptocurrencies:
- Bitcoin
- Litecoin
- Ethereum
Bitcoin Depot’s network likely spans 500-1,000 locations throughout the United States in 2022. The CEO is Brandon Mintz.
At the time of acquisition, DFW Bitcoin had ten ATMs in the North Texas area and Bitcoin Depot had 22 ATMs across Texas.
DFWBitcoin.com currently forwards to BitcoinDepot.com.
In 2022, you can either convert cash to crypto at one of Bitcoin Depot’s BATMs or use their mobile app and get BTC by paying the cashier at a participating retailer with “BDCheckout”.
You can also use a credit or debit card.ac
How It Works
We’ve never purchased cryptocurrency through an ATM, but Bitcoin Depot has a decent process in place that makes buying crypto at local, physical locations possible – even for non-technical people.
- Download a digital wallet through Apple’s App Store or Google Play Store.
- Enter your information in the kiosk (amount to purchase, phone number, name, and email.
- Verify through text.
- Select your crypto and scan the QR code to your digital wallet.
- Insert cash.
- Crypto goes to your wallet and you get a receipt.
White Glove Service
If you’d like to purchase $10,000+ in crypto, Bitcoin Depot has a white glove concierge service that will walk you through the process step-by-step.
Pros and Cons
I like the concept. It’s a way for non-technical people to easily buy BTC, ETH, and LTC.
However, that simplicity comes at the price of not being able to purchase alt coins and tokens. It makes sense and it does give everyone a chance to get in the game, but it is limiting.
What I don’t like is the fees are not easy to find on BitcoinDepot.com. In fact, I didn’t find them whatsoever. I did find a Reddit thread that claimed 20% at a physical location but I have no way to verify if that’s accurate.
However, that is in line with general information that most ATM fees fall in the neighborhood of 10 – 25%.
That’s a high price to pay for crypto.
