[ad_1]
Coinstar's initiative to support the purchase of bitcoins at 20,000 sites in the United States has received mixed reviews a few days after launch, with users complaining of high costs and poor performance.
AML / KYC overload
Coinme, the Bitcoin ATM operator who had begun offering purchases in 2014, was badociated with the Coinstar Coin Counter last week to allow customers to buy bitcoins for cash. 39, money using the same device.
When user experiences began appearing on social media, not all seemed to go as planned.
Specifically, reviews have indicated the excessive security measures implemented by Coinme and Coinstar. A commentator wrote on Twitter to buy Bitcoin that it was necessary to provide an e-mail address, a phone number, the name, the identity check and even a selfie photo.
"Too bad but not unexpected. It sounds silly for such a small amount, "comments the commentator. CryptoParadyme, wrote about their $ 25 purchase.
Bitcoin to @coinstar of @CoinmeATM https://t.co/N7nOzkzgir
– BitBuyBit (@FHRITP_BTC) January 21, 2019
Fees, IDs and technical issues
The current regulatory environment surrounding cryptocurrency ownership in the US is focused on blocking the hidden profit of cryptocurrency trading, with major companies such as Coinbase having previously faced data-mining requests from authorities.
Although such situations seem beyond the control of Coinme, critics of his latest move also implied a mediocre technical reliability of his processes.
CryptoParadyme summary on the experience:
Buy bitcoins in cash, fill out a form, submit your username and selfie, wait over an hour and give us your email to create an account.
The application of Coinme, which failed to load all the necessary steps from its mobile, was an additional problem in the purchase process.
In total, a purchase of $ 25 in Bitcoin costs about 4% in mandatory fees, as well as an "additional surcharge" on the price of Bitcoin and above-average transaction fees, they added.
Coinme did not respond publicly to Twitter's review at the time of going to press.
As Bitcoinist reported, despite the decline in cryptocurrency markets that lasted more than a year, the Bitcoin ATM industry continues to grow. The United States alone currently has nearly 3,000 machines, the largest of any country in the world.
What do you think of Bitcoin purchases by Coinme via Coinstar? Let us know in the comments below!
Images courtesy of Shutterstock
[ad_2]
Source link
