Bitcoin ATM’s

Bitcoin ATMs or BTMs have certainly become a “thing” of late, with thousands of machines popping up all over the world. Many understand that the accumulation of Bitcoin isn’t about a short term trade but a long term hold as the very fabric of the financial systems on a global level restructure.

Crypto Crow BTMs can be found in Kentucky with 4 Tiers of AML/KYC which is required by federal regulation. These tiers will be broken down below.

Each Crypto Crow BTM charges a 16.5% transaction fee. This is high, we know, but it’s all necessary and transparent unlike other operators and I’ll explain.

As BTM’s sell Bitcoin to customers, we accumulate cash over time and due to the volatility of BTC’s price action, the price of BTC can rise quite rapidly from the point of sale to the point of converting the Cash back into BTC and replaced on the machines wallet. Bitcoin has risen 5 figures in a single day and as a business, we must prepare for those situations. It’s not greed really, it’s simply business and security.

However, there are many operators that show a much smaller transaction fee, but they actually bake the additional fees into the price of BTC. Some may offer a 6% transaction fee, but internally raise the price of BTC by 15% also.

When you take into account the cost to do business from compliance, space/location monthly rent, revenue share with location and software providers, cash to BTC conversion and banking, there is simply a lot to cover. This all however averages out in the end and provides you with a service that empowers you and that is why we are here.

 

One Stop Liquors

Covington, KY

Marathon Gas

Newport/Bellevue, KY

Crypto Crow limits daily transactional activity to $5,000 per person, per day.

Tier 1 – Transactions $under 800

Crypto Crow will collect and record the following information from any customer that completes an exchange of U.S. dollar-denominated cash for cryptocurrency in amounts less than $800.

(1) Full name

(2) Phone number

(3) Cryptocurrency wallet address

(4) Transaction amount (U.S. dollar; cryptocurrency)

(5) Transaction date

(6) Transaction time

(7) Transaction location

Additional action(s):

(I) Phone number review (if prepaid or VoIP, government-issued ID required)

(II) OFAC screening

(III) Non-OFAC watchlist screening

(IV) PEP screening

(V) Review blockchain analytics, data

30-day trailing limit: Crypto Crow will refer any customer that transacts $2,000 or more during the trailing 30-day period from Tier 1 to Tier 2.

Tier 2 – Transactions $800 – $3,000

Crypto Crow will collect and record the following information from any customer that completes an exchange of U.S. dollar-denominated cash for cryptocurrency in amounts ranging from $800 to <$3,000.

(1) Full name

(2) Phone number

(3) Address

(4) Date of birth

(5) Government-issued identification, unexpired

(6) Cryptocurrency wallet address

(7) Transaction amount (U.S. dollar; cryptocurrency)

(8) Transaction date

(9) Transaction time

(10) Transaction location

Crypto Crow BTMs, LLC – Know Your Customer/Customer Due Diligence Policy – Confidential 3

Additional action(s):

(I) Phone number review

(II) OFAC screening

(III) Non-OFAC watchlist screening

(IV) PEP screening

(V) Review blockchain analytics, data

(VI) Verification of customer information, including identification

30-day trailing limit: Crypto Crow will refer any customer that transacts $9,000 or more during the trailing 30-day period from Tier 2 to Tier 3.

Tier 3 – Transactions $3,000 – $10,000

Crypto Crow will collect and record the following information from any customer that completes an exchange of U.S. dollar-denominated cash for cryptocurrency in amounts ranging from $3,000 to $10,000.

(1) Full name

(2) Phone number

(3) Address

(4) Date of birth

(5) Government-issued identification, unexpired (U.S. only)

(6) Tax identification number (e.g. SSN, ITIN)

(7) Cryptocurrency wallet address

(8) Transaction amount (U.S. dollar; cryptocurrency)

(9) Transaction date

(10) Transaction time

(11) Transaction location

Additional action(s):

(I) Phone number review

(II) OFAC screening

(III) Non-OFAC watchlist screening

(IV) PEP screening

(V) Review blockchain analytics, data

(VI) Verification of customer information, including identification

(VII) Customer phone interview on the first transaction, if not already conducted

Tier 4 – Transactions $10,000

Crypto Crow will collect and record the following information from any customer that completes an exchange of U.S. dollar-denominated cash for cryptocurrency in amounts greater than $10,000.

(1) Full name

(2) Phone number

(3) Address

(4) Date of birth

Crypto Crow BTMs, LLC – Know Your Customer/Customer Due Diligence Policy – Confidential 4

(5) Government-issued identification, unexpired (U.S. only)

(6) Tax identification number (e.g. SSN, ITIN)

(7) Cryptocurrency wallet address

(8) Transaction amount (U.S. dollar; cryptocurrency)

(9) Transaction date

(10) Transaction time

(11) Transaction location

Additional action(s):

(I) Phone number review

(II) OFAC screening

(III) Non-OFAC watchlist screening

(IV) PEP screening

(V) Review blockchain analytics, data

(VI) Verification of customer information, including identification

(VII) Customer phone interview

(VIII) Referral for enhanced due diligence (EDD) review

(IX) Filing of a Currency Transaction Report (“CTR”), if applicable