What is a BitCOIN atm (btm)?
A Bitcoin ATM, or BTM, is a machine where you can buy or sell Bitcoin, which is a type of digital currency. Just like a regular ATM lets you take out cash or put money in, a BTM lets you use cash to buy Bitcoin or get cash by selling Bitcoin. You can use cash or a card, and the machine will send Bitcoin to your digital wallet, or another person’s digital wallet. It's an easy way for people to use Bitcoin without needing a computer.
Bitcoin ATM (btm) victim fee reimbursement
A BTM company may offer fee reimbursement to someone who can prove they are a victim, usually with a case report, copies of the receipts, and screenshots of interactions with the bad actors. They require the request to be sent in a timely manner. They do not reverse the entire transaction, however Bitcoin ATMs charge very large fees for completing the transactions. Usually between 20%-30% of the transaction goes to the Bitcoin BTM company as a fee. The fees are what they may reimburse to a victim.
Due to the time-sensitive nature of this request, it is recommended that you first start the process with the BTM, before filing your report online. Due to administrative processes that occur after you have reported your incident online, you could miss the window to apply for reimbursement from the BTM while awaiting your report to be finalized.
It is possible the BTM company may require a case report number when making the request. If this occurs then complete the online report and request the case report via here: https://coloradosprings.gov/police-department/page/records-release-requests. If while awaiting the case report number you are concerned about missing the window to report with the BTM company, we recommend you contact the BTM company and advise them of the circumstances.
Below are several types of Bitcoin ATMs that can be found in Colorado Springs and the information available for what they require to submit a request for fee reimbursement.
We strongly encourage you to report all crimes involving cryptocurrency to three places:
Blockchain/crypto specific cases
Bitcoin Department
Fill this out to the best of your abilities and submit the form as soon as possible to https://bitcoindepot.com/report-scam-fraud\.
ATHENA
Send an email with as much detail and documents as soon as possible to:
COINHUB
Send an email with as much detail and documents as soon as possible to:
COINFLIP
CoinFlip Refund and if you have any issues contact refunds@coinflip.tech.
NATIONAL BITCOIN
Has not offered reimbursment.
UNBANK
Send an email with as much detail and documents as soon as possible to:
They are very strict about what they will reimburse because they call the customer to verify, they are intending to make a transaction.
COINME/ COINSTAR /CINQ/ ZEROHASH
Does not offer reimbursement