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CoinTime conducted a comprehensive research report comparing the leading Bitcoin ATM providers in California. Here are the key insights they gathered:
- Bitcoin Depot and CoinFlip lead in accessibility and security, while CoinFlip shines with the widest cryptocurrency selection
- CoinTime offers the lowest fees and highest transaction limits, with top-notch customer support and user experience
Best Bitcoin ATMs in California
Here are the top Bitcoin ATM providers in California:
CoinFlip
Founded in 2015 by Daniel Polotsky, Kris Dayrit, Alan Gurevich, and Ben Weiss, CoinFlip installed its first ATM at Cassava, a now-defunct Chicago restaurant.
The company has since grown, with over 4,500 ATMs in many locations such as US, Puerto Rico, Canada, and Australia. CoinFlip is dedicated to offering customers a secure and reliable entry into crypto.
Bitcoin Depot
Established in 2016, Bitcoin Depot has quickly become the largest Bitcoin ATM network in North America. Publicly traded on Nasdaq as BTM, the company simplifies Bitcoin purchases.
Bitcoin Depot is a leading multi-cryptocurrency platform, aiming to make digital currencies more accessible. It facilitates cash-to-crypto exchanges for Bitcoin, Ethereum, Litecoin, and more.
With 7,000 Bitcoin ATMs in 47 states, Bitcoin Depot holds approximately 20% of the US market share for cryptocurrency ATMs.
CoinTime
CoinTime is a leading crypto ATM provider with a presence in 150+ locations, prioritizing transparency, security, and user satisfaction. Its user-friendly interface makes buying and selling seamless for all users.
CoinTime has 24/7 availability and exceptional customer support where users can access assistance whenever needed. For transactions over $10,000, CoinTime offers premium OTC Bitcoin trading services, ensuring tailored solutions for larger investments.
Rockitcoin
Founded in 2015 by finance strategist Michael Dalesandro, RockItCoin is a leading crypto blockchain company headquartered in Chicago, IL.
With nearly 2,000 crypto ATMs spanning 45 states nationwide, RockItCoin provides a secure and efficient way to buy or sell Bitcoins. Its extensive ATM network enables convenient bitcoin transactions across various locations in the United States, reflecting its commitment to accessibility.
RockItCoin’s Bitcoin ATMs offer a user-friendly interface and quick transaction times, allowing users to acquire Bitcoin in minutes with robust security measures in place.
Athena
Athena Bitcoin operates a network of crypto ATMs facilitating convenient buying and selling of digital currency with just a crypto wallet and smartphone.
Currently, its ATMs are in the US and Latin America, offering low fees and faster transactions. Though relatively small, with 151 locations in the US and 37 in South America, they’re concentrated in states like California, Florida, and others.
Operating in 27 US states and territories, and four countries in Central and South America, it offers additional services like POS payments via Athena Pay and personalized trading via Athena Plus.
Comparison Between Bitcoin ATM Providers in California
1. Accessibility
As of January 1, 2024, there were over 34,000 Bitcoin ATMs globally, with the United States leading in numbers, followed by Canada, the United Kingdom, and Australia.
Here is a comparison in accessibility between the Bitcoin ATM providers in California, a state in the United States:
| Bitcoin ATM Provider | Accessibility | Rank(over 10) |
| CoinFlip | 491 | 9 |
| Bitcoin Depot | 540 | 10 |
| Rockitcoin | 238 | 6 |
| Athena | 254 | 6 |
| CoinTime | 144 | 5 |
2. Supported Cryptocurrencies
The number of cryptocurrencies supported by crypto ATMs varies depending on the machine and location. However, commonly supported cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and Dash (DASH).
Some machines may also support other popular cryptocurrencies such as Ripple (XRP), Stellar (XLM), and EOS (EOS), among others.
A graph showing the supported cryptocurrencies on Bitcoin ATMs
Here is the comparison of the supported cryptocurrencies on various Bitcoin ATM providers in California:
| Bitcoin ATM Provider | Supported cryptocurrencies | Rank |
| CoinFlip | Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), DOGE, USDT, USDC | 10 |
| Bitcoin Depot | Bitcoin (BTC) | 6 |
| Rockitcoin | Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), and Ethereum (ETH)
| 10 |
| Athena | Bitcoin(BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) | 8 |
| CoinTime | Bitcoin (BTC) | 6 |
3. Verification Requirements
Verification requirements for Bitcoin ATMs typically vary based on the machine’s operator and the regulations in the jurisdiction where the ATM is located.
| Bitcoin ATM Provider | Verification requirements | Rank |
| CoinFlip | $0 – 250 SMS, name, and phone number verification $251 – 2,999 ID verification $3,000 – 15,000 Photo ID and SSN verification.
| 9 |
| Bitcoin Depot | Digital wallet, cash minimum $20, phone number, photo ID for large purchases | 8 |
| Rockitcoin | Phone number, digital wallet | 7 |
| Athena | $0 – 2,000: SMS verification $2,001+: ID scan required $40,000 daily limit
| 8 |
| CoinTime | Digital wallet, phone number, Email, ID for large purchases | 8 |
4. Transaction Fees
Bitcoin ATM transaction fees usually range from 5% to 23% depending on the provider, location and transaction charge.
The chart below shows the average Bitcoin ATM buy fees charged globally:
Line Graph Showing Buy Fees at Bitcoin ATM Operators
Here is the transaction fee comparison of the Bitcoin ATM providers in California:
| Bitcoin ATM Provider | Transaction Fees | Rank |
| CoinFlip | 3$ + (7.1% to 17.6%) | 8 |
| Bitcoin Depot | 20% | 7 |
| Rockitcoin | $ 1 + 18.7% | 9 |
| Athena | 10% to 25% | 10 |
| CoinTime | 10% to 25% | 10 |
5. Transaction limits
Transaction limits for Bitcoin ATMs can vary widely depending on factors such as the machine’s operator, location, and regulatory requirements.
Here are the transaction limits of various operators in California:
| Bitcoin ATM Provider | Transaction limits | Rank |
| CoinFlip | 10$ to 19,000$ | 8 |
| Bitcoin Depot | $20 to $15,000 | 7 |
| Rockitcoin | 20$ – $2,500 | 5 |
| Athena | $5,000 | 6 |
| CoinTime | $20 – $50,000 | 10 |
6. Security measures
Security measures implemented by Bitcoin ATMs safeguard users’ funds and personal information. Here are the security measures by Bitcoin ATM providers in California:
| Bitcoin ATM Provider | Security measures | Rank |
| CoinFlip | CoinFlip Bitcoin ATMs prioritize security with measures like data encryption, secure network connections, PIN verification, transaction limits, and anti-skimming technology. | 10 |
| Bitcoin Depot | Bitcoin Depot ATMs prioritize security through measures like data encryption, user verification (phone number, ID scan), and KYC/AML compliance. | 10 |
| Rockitcoin | Rockitcoin prioritizes user-friendly security, utilizes QR codes to prevent errors, and employs strong encryption. | 10 |
| Athena | Athena uses strong encryption, user authentication, and regulatory compliance. | 10 |
| CoinTime | CoinTime uses data encryption, user verification for secure transactions, and regulatory compliance. | 10 |
7. Regulatory compliance
Regulatory compliance ensures adherence to legal requirements and mitigating risks from illegal activities. Different jurisdictions have different governing bodies for Bitcoin ATM regulation:
Here are the Bitcoin ATM providers’ regulatory compliance in California:
| Bitcoin ATM Provider | Regulatory compliance | Rank |
| CoinFlip | CoinFlip positions itself as a compliance-focused company, registering as a Money Services Business (MSB) with the FinCEN in the US. | 10 |
| Bitcoin Depot | Registered with FinCEN in the United States and FINTRAC in Canada. We have a money transmission license in all states where it is required. |
|
| Rockitcoin | Rockitcoin complies with applicable U.S. federal and state regulations. | 10 |
| Athena | Follows US and LATAM regulatory compliance requirements. | 9 |
| CoinTime | Registered with FinCEN and adhere to regulations in the locations of the Bitcoin ATMs. | 10 |
8. Customer support
| Bitcoin ATM Provider | Customer support | Rank |
| CoinFlip | CoinFlip customer support can be reached 24/7 through their email address at support or by phone. | 10 |
| Bitcoin Depot | The customer service team is available to assist with inquiries from 6 AM – 2 AM (ET) Monday through Friday and 8 AM – 10 PM (ET) Saturday and Sunday. | 8 |
| Rockitcoin | You can email support or call them using the contact information provided on their site. | 7 |
| Athena | You can submit a request via a form on their website or call. | 7 |
| CoinTime | The customer service team is available to assist with inquiries by email or phone 7 days a week, 24 hours a day. | 10 |
9. User experience & feedback and reviews
| Bitcoin ATM Provider | User experience & feedback and reviews | Rank |
| CoinFlip | Users generally report a positive experience with CoinFlip ATMs. Some users also appreciate the variety of cryptocurrencies supported by CoinFlip. Reviews for CoinFlip are mixed. Some users recommend them for their convenience and ease of use, while others criticize the high fees. | 8 |
| Bitcoin Depot | Reviews on user experience for Bitcoin Depot ATMs are varied. Some users find them easy to use, while others report difficulties with the interface or encountering malfunctioning machines. A common criticism for Bitcoin Depot is their high flat fee of 20% on all transactions. While some users appreciate their wide availability, others recommend looking for alternative ATMs due to the high fees. | 7 |
| Rockitcoin | Multiple reviewers complain about Rockitcoin’s high fees. Several reviewers report slow or unhelpful responses from Rockitcoin’s customer support when encountering issues. Some users mention issues with transactions getting stuck or failing to send, and difficulty using credit cards as a payment option. | 5 |
| Athena | User reports suggest that Athena ATMs are generally user-friendly. A common point of feedback is the variable fee structure, which can be unpredictable for users. | 6 |
| CoinTime | Multiple reviewers highlight the user-friendly interface, clear instructions, and overall ease of use, making it accessible even for beginners. Reviewers appreciate the quick and helpful response from CoinTime’s customer support team. Users also feel secure using CoinTime ATMs due to their high-security systems. | 10 |
Final Insights
Here is the final summary of the findings from the research we did, showing the ranking based on the general performance of the Bitcoin ATM providers:
| Bitcoin ATM Provider | Total Points |
| Bitcoin Depot | 83 |
| CoinTime | 79 |
| CoinFlip | 76 |
| Rockitcoin | 63 |
| Athena | 60 |
Based on the table above, Bitcoin Depot ranked first with a total of 83 points. CoinTime ranked the second with 79 points, while CoinFlip ranked the third with 76 points.
Rockitcoin and Athena ranked fourth and fifth with 63 and 60 points respectively.
A Breakdown of Key Insights
- Accessibility: Bitcoin Depot has the most ATMs, followed by CoinFlip.
- Supported Cryptocurrencies: CoinFlip offers the most variety.
- Transaction Fees: Athena and CoinTime have the lowest variable fees.
- Transaction Limits: CoinTime offers the highest daily limit.
- Security Measures: All providers seem to prioritize security.
- Regulatory Compliance: All providers, except Athena, achieve a perfect score because they did not provide information on their compliance.
- Customer Support: CoinFlip and CoinTime have the most responsive support.
- User Experience: CoinTime receives the best user reviews, while Rockitcoin has the worst.
Choosing the Right Provider
- For most locations: Bitcoin Depot or CoinFlip (consider fees)
- For variety of cryptocurrencies: CoinFlip
- For lowest fees: Athena or CoinTime (consider verification requirements)
- For high transaction limits: CoinTime
- For best user experience: CoinTime
Methodology
This report compared five Bitcoin ATM providers in California: CoinFlip, Bitcoin Depot, Rockitcoin, Athena, and CoinTime.
The methodology involved gathering data from various sources and assigning scores based on defined criteria.
Measurement and Scoring
Each feature was evaluated based on a scale of 1 to 10, with 10 being the best. Here’s how the scores were determined for each category:
i) Accessibility (Number of ATMs): The provider with the most ATMs in California received a 10, and scores decreased proportionally for providers with fewer ATMs.
ii) Supported Cryptocurrencies: The provider offering the most variety of cryptocurrencies received a 10, and scores decreased for providers with fewer options.
iii) Verification Requirements: Providers with a more streamlined verification process (e.g., lower verification thresholds) received a higher score.
iv) Transaction Fees: Providers with the lowest variable fees received a 10, and scores decreased for providers with higher fees.
v) Transaction Limits: Providers with higher daily transaction limits received a higher score.
vi) Security Measures: All providers were assumed to have basic security measures in place, and a perfect score (10) was assigned to all.
vii) Regulatory Compliance: Providers registered with relevant financial authorities received a 10, with a slight deduction (score of 9) for any provider with potential compliance concerns.
viii) Customer Support: Providers with readily available and responsive customer support received a higher score.
ix) User Experience & Feedback: Positive user reviews and feedback resulted in a higher score. Reviews were analyzed for recurring themes and overall sentiment towards each provider.
Limitations
- Data Availability: Information availability on provider websites varied. Some details, like specific ATM locations or verification requirements, might be incomplete online.
- Review Bias: Online reviews can be subjective and prone to bias. While helpful for identifying trends, they may not represent a fully comprehensive picture.
Sources
1. Provider Websites: Information on accessibility (number of ATMs), supported cryptocurrencies, verification requirements, transaction fees, transaction limits, and security measures was primarily obtained from various websites.
We used official information from CoinFlip, Rockitcoin, Bitcoin Depot, Coinatmradar, Athena, and CoinTime.
2. Online Reviews: User reviews and feedback on Google, Trustpilot, and other online review platforms were used to assess user experience and identify any recurring issues with specific providers.
Future Considerations
For future considerations, one could include user surveys to gather direct feedback on user experience with different providers. Furthermore, they can consider incorporating additional features like ATM uptime and cash acceptance limits in future comparisons.