Not only do they charge $5 for the transaction (+ a percentage cut), they have BAD prices!
And here is what an Instacoin ATM close to my house is "offering"
If I want to buy $100 CAD of Bitcoin on an exchange, I will get 0.007694 BTC
Now, take that same $100 and put it in an ATM.
First is the $5 fee, so we are at $95. Then there is the 14.9% fee of $14.15. Now there is $80 left for the BTC at a rate of 14955.17 CAD/BTC. This gives us a final total of ...
0.005405 BTC
That's a difference of .002288511 BTC and if you use a proper exchange rate that's a loss of $29.75!!!
It shouldn't cost 30% to buy BTC. This is robbery!
How do you get your hard earned cash into the BTC economy and stay anonymous?
