You’ve done your research, and you’re ready to buy Bitcoin from a Bitcoin Depot BTM. However, before you head out, you might want to know how much Bitcoin you can buy. All Bitcoin Depot machines have limits, and we want to tell you all about them so you know exactly what to expect.
One of your first questions might be why Bitcoin Depot BTMs have limits in the first place. There are a few reasons, but some of the most important ones are to provide security and to be compliant with regulations. The good news is that both of these benefit you when you buy Bitcoin from a Bitcoin Depot BTM.
There are minimum limits and maximum limits when using a Bitcoin Depot BTM. You have to purchase at least $20 worth of Bitcoin in any transaction, while limited to $15,000 on the high end.
Of course, this begs the question, “why set limits on purchases?” As we mentioned, there are a few reasons to do so. Let’s take a closer look at each one.
Without security, your digital assets are at the mercy of anyone who gains access to your private keys. That’s why Bitcoin Depot takes security seriously, doing our part to prevent nefarious parties from draining your wallet and absconding with your Bitcoin.
When it comes to security, we want to ensure your transactions are safe and private, which is why we use features like two-factor authentication to make sure your Bitcoin is going to the right place.
Bitcoin Depot complies with Anti-Money Laundering requirements and regulations, which is one of the reasons there are limits to how much you can purchase at once. A BTM that’s not compliant is potentially unsafe and dangerous. We want every transaction to be a positive experience, so we’re sure to follow all pertinent laws.
From a practical standpoint, not establishing limits on BTM purchases would make it challenging whenever other users need access to the machine. The reality is that BTMs can store a finite amount of cash. This is why Bitcoin Depot sets limits for purchases. Setting limits keeps the machine up and running, so we don’t have to close it if it’s full.
As you can see, we place limitations on BTM purchases to protect users. We want to provide a safe, secure, and transparent experience for all our customers, which means creating the best possible Bitcoin buying experience.
You bet we do. Cash is the primary form of payment when using a Bitcoin Depot BTM. A significant advantage to using a BTM is the privacy and anonymity you get. With cash, you’ll experience an untraceable transaction. Of course, all transactions on the blockchain are visible to the public, but the identity of the buyer is protected.
While you can only purchase $15,000 worth of BTC from a Bitcoin Depot BTM every day, you can buy as much Bitcoin as you want. Legally, there is no limit to how much Bitcoin you can own - well unless you own all 21 million Bitcoin available.
If you want to add some Bitcoin to your wallet and want to use cash, your best bet is to head to a Bitcoin Depot BTM. The good news is we have thousands of BTMs across the United States and Canada, so there’s a good chance there’s a machine not too far from where you live.
We want you to have as much Bitcoin as you want, but we also want to provide our customers with a safe and secure buying experience. That’s why we place limits on our machines; we want all customers to have the opportunity to buy Bitcoin anytime they want.
That’s why you should use a Bitcoin Depot BTM. We’re compliant, practical, and safe, which means we’re a BTM you can trust.