Frequently Asked Questions

What are Bitcoins?

Bitcoins are a Cryptocurrency and a digital payment system. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a publicly distributed ledger called a block chain. Since the system works without a central repository or single administrator, Bitcoin is called the first decentralized digital currency.

What do I need to purchase Bitcoins?

Nothing. Though we do recommend you download a mobile wallet before visiting one of our machines. Just type Bitcoin wallet in Google play store or Apple app store and download it. Though our machines do issue paper wallets and NFC cards.

What is the maximum I can buy/sell?

The maximum per wallet per transaction is €1000. If you would like to trade for more than €1000, then you must register as a client. A registered client can do up to €10,000 per day.

How do I become a registered client?

To register you must physically go to a Bitcoin ATM with your id. Once there choose to become a registered client. You will input your mobile phone number. Then you will receive a code. Type the code in. Then you be asked to scan your id (both back and front). Then you will be prompted to pose for a photo. This is necessary to combat fraud.

What are the fees?

We charge €1 for buying Bitcoin, and €3 for selling. This is due to the system we use charges our company a small amount for these transactions. For Litecoin, Ethereum and Bitcoin Cash transactions there are no fees.

What is our commission?

For Bitcoin our rates are 5%, for Ethereum it is 7.5% and for Litecoin it is 10%. We take our price from kraken.com

Do you want a Bitcoin ATM in your establishment?

That is good news. Please write a short mail describing your business and put your location too. We will send you an information pack with all relevant details about hosting a Bitcoin ATM

What do we do with your personal information?

What do we do with your personal information?

Your personal information (phone number, id scan, selfie photo) is stored on our server. Only our compliance staff at Bgst Atm can view it. If you’d like to anonymize your information from our staff please write an email

to admin@bgstatm.com

We never share your personal information with a 3rd party. Except for checking identification papers (like pasport/drivers license) on authenticity. We use Datachecker for this. We follow the Dutch WWFT (Wet ter voorkoming van witwassen en financieren van terrorisme) regulations with reporting
cash transactions. We also follow EU GDPR regulations when making these reports. If you’d like to know more
about our policy please contact us at admin@bgstatm.com


How our machines work


Step 1 : Preparations

1 Find your nearest location. Check opening times and status

2 Download a Bitcoin wallet, eg. Jaxx

3 If you plan to trade for over €1000 then bring identification

4 Contact us if you have any questions

Step 2: Buy & Sell

Buy
Sell

1 Open your Bitcoin wallet

2 Press receive to bring up a QR code

3 Scan your QR code on the BATM

4 Insert the bills one at a time until you are finished

5 Press buy now

1 Choose the amount you would like to sell

2 Take the receipt with the QR code and info

3 Open your Bitcoin wallet

4 Choose send then scan the QR code on the receipt

5 Press send

ATTENTION: It is very important not to change the amount on your screen

Step 3: Complete

Buy
Sell

1 Choose to receive a receipt or not

2 Within 3-5 minutes the coins will be seen on your wallet

1 Wait for 1 confirmation on the blockchain network

2 Scan the QR code from the receipt

3 Take your cash

ATTENTION Please never send directly from a trading platform, eg. Kraken, Binance. This will cause an error payment due to the unpredictable fees.