Bitcoin Depot ATMs Guide
Bitcoin Depot is one of the largest chains of Bitcoin ATMs across North America. In our guide, we're covering how Bitcoin Depot ATMs work, fees, and more.
Bitcoin Depot lets users buy crypto with cash or debit via ATMs across the U.S.
Fees are high (10–20%), and an ID is required for larger transactions.
A 2024 data breach exposed personal info of 27,000 users.
ATMs generally don’t support withdrawals; use exchanges to cash out.
What is Bitcoin Depot?
Bitcoin Depot is a network of cryptocurrency ATMs that allow users to buy Bitcoin, Litecoin, and Ethereum with cash or a debit card.
The company launched in 2016 and has since grown to thousands of locations across the U.S. and Canada. The idea is to make crypto more accessible by letting people walk up to a kiosk, insert cash, and get crypto sent to their wallet in minutes with no complicated exchange accounts required.
Read next: Best Crypto Apps
Is Bitcoin Depot legit?
Yes, Bitcoin Depot is a legitimate and registered business. It complies with federal regulations in the U.S., including anti-money laundering (AML) requirements and Know Your Customer (KYC) rules.
It’s not a scam, but it’s worth knowing that fees are typically higher than online exchanges, which is something to keep in mind if you're doing frequent or large transactions. Many customers who have used Bitcoin Depot services note the extremely high transaction fees and the lack of transparency over those fees as an issue.
Are Bitcoin ATMs legal?
Yes, Bitcoin ATMs are legal in the US, but they’re heavily regulated. Operators must register with FinCEN as a Money Services Business (MSB) and comply with federal Anti-Money Laundering (AML) and Know Your Customer (KYC) laws. Many states also require additional money transmitter licenses.
However, the industry has faced legal trouble due to misuse and a lack of oversight. Some operators have been investigated or fined for failing to register properly, neglecting AML procedures, or being used in fraud and drug trafficking schemes. In 2023 and 2024, multiple Bitcoin ATM companies, including smaller unlicensed operators, were raided or prosecuted for facilitating money laundering through anonymous, high-volume transactions.
So while the machines are legal, regulators are increasingly cracking down on non-compliant or loosely managed ATM networks.
How does Bitcoin Depot work?
Bitcoin Depot ATMs are kiosks that connect to the internet and let you purchase cryptocurrency using cash or a debit card. You enter your wallet address, deposit cash, and the machine sends the equivalent amount of crypto to your wallet after deducting fees.
The company also offers a mobile app called BDCheckout, which lets you create a barcode to scan at participating retailers to buy crypto, similar to how you’d use a prepaid card. This adds more flexibility beyond just using the physical kiosks.
Read next: Best Crypto Exchanges
How to use Bitcoin Depot ATMs?
Using a Bitcoin Depot ATM is pretty straightforward:
Locate a machine using the Bitcoin Depot website or app.
Select the crypto you want to buy (Bitcoin, Ethereum, or Litecoin).
Enter your wallet address by scanning your wallet’s QR code.
Insert cash or use a debit card, depending on the machine.
Confirm the transaction. You’ll get a receipt, and your crypto will be sent to your wallet.
If you don’t have a wallet, most machines allow you to create a paper wallet on the spot, but it's generally safer to come prepared with a mobile wallet app to avoid any errors.
How much does a Bitcoin Depot machine charge?
Bitcoin Depot’s fees vary by location, but they generally range from 10% to 20% above the market rate of the cryptocurrency. This includes both a service fee and a markup on the price of the crypto. While that’s significantly higher than online exchanges, the premium covers the convenience and nature of the ATM transaction.
Read next: Crypto Exchanges with the Lowest Fees
Does Bitcoin Depot require ID?
Yes, most Bitcoin Depot machines require some level of ID verification, especially for larger transactions. Here’s a general breakdown:
Small transactions (under $250): May require only a phone number.
Larger transactions: Will likely require a government-issued ID and possibly a selfie for verification.
This process is part of compliance with KYC/AML laws and helps prevent fraud.
Read next: Top No KYC Exchanges
What happened in the Bitcoin Depot data breach?
In June 2024, hackers exploited a GitLab vulnerability to access Bitcoin Depot’s systems and stole the personal data of nearly 27,000 ATM users. The breach was identified on June 23, 2024, and confirmed by July 18, 2024. Public notification was delayed until July 2025 due to a federal law enforcement investigation.
Data included full names, birth dates, addresses, email addresses, phone numbers, and in some cases, driver’s license numbers, and other information collected under U.S. KYC regulations.
Despite U.S. businesses typically offering identity theft protection after breaches, Bitcoin Depot didn’t because crypto-ATM operators aren’t legally required to provide it. Affected individuals are advised to monitor accounts, watch for phishing, consider a credit freeze, and stay vigilant for misuse of their data.
This breach highlights how compliance with KYC regulations, which requires sensitive information collection, can put users at risk, and how the unique regulatory framework around crypto ATM operators may leave customers with fewer protections.
Read next: Which Bitcoin ATMs Require No KYC?
How to withdraw from Bitcoin Depot?
Bitcoin Depot ATMs are primarily designed for buying crypto, not withdrawing it in cash. If you're looking to sell crypto and get cash, some two-way ATMs may offer this feature, but they are less common. For now, Bitcoin Depot mostly supports purchases.
If you're looking to cash out your crypto, you'd need to use an exchange or a different ATM provider that supports selling.
How long does Bitcoin Depot take to deposit?
Deposits are typically sent to your wallet within minutes after completing a transaction. However, blockchain network congestion can sometimes delay confirmations. Generally, you can expect to see your funds:
Bitcoin: within 10–30 minutes
Ethereum/Litecoin: usually faster, often under 10 minutes
Always double-check your wallet address before confirming to avoid irreversible mistakes.
Read next: Bitcoin Price Predictions
Does Bitcoin Depot accept debit cards?
Yes, many Bitcoin Depot ATMs accept debit cards, but not all locations. Some machines are cash-only, so it’s best to check the machine type before heading out. Keep in mind that using a debit card may involve additional bank fees or limits depending on your card issuer.
Don’t forget the tax bill…
Remember, however you purchase Bitcoin, if you later sell it and make a gain, the IRS is crystal clear that you’ll need to pay tax on that gain. A crypto tax calculator like Koinly can help with support for more than 900 exchanges, wallets, and blockchains to easily import your data and calculate your profits. Sign up for free.
FAQs
How do I get my money back from Bitcoin Depot?
Bitcoin Depot transactions are non-refundable, so once crypto is sent, it can’t be reversed. If there was an error, you’ll need to contact their support team for help.
How long does Bitcoin Depot take to process?
Most transactions are processed within a few minutes, depending on blockchain congestion. You’ll usually see your crypto arrive in your wallet in under 30 minutes.
How do I turn my Bitcoin back into cash?
To cash out Bitcoin, you’ll need to use a crypto exchange, a peer-to-peer platform, or a two-way Bitcoin ATM that supports selling. Bitcoin Depot machines are mainly for buying crypto, not withdrawing cash. Learn more in our guide on how to cash out Bitcoin.
How long does Bitcoin Depot take?
From start to finish, most transactions take about 5 to 10 minutes at the machine. The actual crypto transfer usually completes within 10 to 30 minutes.
