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Bitcoin ATM in Prague with no fixed transaction fee

Author: LB 2020-08-21 271

On my first day in the Czech capital I decided to check out a Bitcoin ATM manufactured by WBTCB. On my previous trips the ATMs I tested were installed by General Bytes and I was interested in making a comparison between these devices. I supposed that the procedure should be the same, because what you do is just sending transactions onto the Blockchain and then you just have to wait until they are verified. This was how I expected, however costs were different. Let's see the details.

So first of all let's see the location. If you search for Bitcoin ATMs Prague, you will find this location, but this doesn't mean that you will be able to find the machine as soon as you arrive here. This is basically a shopping mall and you have to walk around a bit until you find out that the Bitcoin ATM is on the parking level on floor -1.

So you will have to look for this entrance:

The location of the Bitcoin ATM in Prague.

As soon as you have located the main entrance you can enter the building and try to find the escalator on the right. This will take you to the Bitcoin ATM:

The location of the Bitcoin ATM in Prague.

The ATM looks like this:

WBTCB ATM in Prague.

So this ATM looks a bit different from those manufactured by General Bytes, but it has very similar functionalities.

First of all let's purchase some Bitcoins using this ATM. The machine supports several languages, but as I don't speak neither Czech not Slovakian I chose English and I pressed "Buy Bitcoin".

Buying Bitcoin in Prague.

The machine handles cash in 1000 Czech crown units, which equals to roughly 45 USD. Make sure you have this amount of cash with you if you want to use this machine.

This is how I inserted the money:

Inserting money into the ATM.

And then you just have to press the "Buy Bitcoin" button and you will receive your BTCs in your wallet if you scanned your wallet's QR code into the machine.

Buying Bitcoin in Prague.

If the transaction was successful the device displays this for you:

Successful transaction in Prague.

And the machine prints out a receipt for this transaction in the following way:

The receipt.

I had to wait a few minutes until I could detect the BTCs in my e-wallet, but don't worry, you will get them eventually and your application will notify you:

The Bitcoins have arrived.

So you can see that for 1000 Czech crowns I got Bitcoins that had the value of 42.33 USD, which is approximately 935 Czech crowns. This means that the transaction fee was roughly 65 Czech crowns and there was no fixed fee when I used this machine.

Exchanging the Bitcoins.

If you read my previous entry, you can see that there is a 100 Czech crown fixed fee if you are using the machines operated by General Bytes. Previously, I tried to purcahes BTCs for 500 Czech crowns and I received only 380 crowns so if you are buying for 500-1000 crowns it is expedient to use these kind of machines in Prague.

You can support me using the following BTC address: 1D6qYk7mWQFE1K5tUgqimjiCLT66AHdyNX

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