Are there any risks or fees associated with converting cryptocurrency to cash at an ATM?

1 answers

• Mar 23, 2022 · 3 years ago
  Yes, there are risks and fees associated with converting cryptocurrency to cash at an ATM. One risk is the potential for ATM skimming, where criminals install devices to steal your cryptocurrency or personal information. To minimize this risk, it's important to use ATMs from trusted providers and ensure that they have security measures in place, such as tamper-proof card readers. In terms of fees, ATMs typically charge a percentage-based fee for the conversion. The exact fee amount can vary, so it's advisable to check the fee structure before using an ATM. Overall, while ATMs provide a convenient way to convert cryptocurrency to cash, it's essential to be aware of the risks and fees involved to protect your assets.
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