Yesterday, the UK decided to ban Crypto ATMs, a decision that was shared on here quite a few times and that I am incredibly neutral about - I really, really don't care. But it reminded me of their existence and made me wonder: why would any person in their right mind ever use one of them?
According to various sources I found, they have absurd fees of like 10-20% (compared to fractions of a percent on exchanges), in most countries KYC is still required - I just can't of any reason to use one! Why would I want to specifically go to a location to buy crypto with more fees rather than buying them online with less fees?
Is their only use tricking newbies who don't know where else to buy BTC and who would not know that a 10% fee is absurd? I really don't understand it.
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