Hello everyone, Rockitcoin ATM's are a massive scam.
When I heard there was a bitcoin ATM in my town finally, I decided to try it out. I knew I was going to get hosed, but I didn't know how badly. I took a fresh $20 bill out of the ATM, and ran it through the rockitcoin machine. It prompted me immediately telling me that I was going to be subject to a $1 fee. Pretty reasonable I guess, they have to make money.
I get home and check my balance. $15. I am not a math genius, but that is about a 25% fee. I look up online, their website says their fee is 6%. Something doesn't add up. So I email support, and they inform me that they have an 18% fee ON TOP OF the $1 fee advertised.
Maybe I am the last person on the planet finding out just how huge of a scam bitcoin ATM's apparently are, but damn. I even went into this experiment expecting to get scammed, and was STILL shocked. Imagine if grandma goes and puts $300 of little timmy's christmas money into a bitcoin ATM to get him some crypto without knowing any better!?
Sorry for the rant.
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