Put in NT$1000. Current rate for NT$1000 is 0.0014 BTC.
Got paid 0.0012 BTC. So the fees of the ATM is about 14%. Quite exorbitant. Does anyone know if this is standard for a Bitcoin ATM? Are there places with lower fees you know of?
How do you convert BTC into cash in Taiwan? What sort of fees can one expect?
Bitcoin ATMs have notoriously bad rates and fees. I think this is true many places. Maybe you’d get a better deal exchange with more money?
However using a local exchange like maicoin has pretty low fees. Can send your Bitcoin to the exchange and put in a sell order. Once it’s sold just pay 15NT to send the NTD to your bank account. You’ll have it in your bank account in under 24h.
well, u need to pay some sort of fee for the grift, right?
I’ll look into Maicoin, thanks.
Bitoex is your other choice. You link your bank account to your crypto account that you setup online, then make a transfer from the ATM to that linked account (after they verify your account, they have different tiers you need to provide passport etc I think). Much better rates. Check the rate prior to everytime you buy against google rate to check the spread , often only 1% these days. Which is fine.