Are there any restrictions or regulations for using cryptocurrency ATMs in Portugal?

3 answers

• Dix 0x1Jan 18, 2025 · 8 months ago
  Yes, there are certain restrictions and regulations for using cryptocurrency ATMs in Portugal. The amount of cryptocurrency that can be purchased or sold may vary depending on the specific ATM and its operator. Some ATMs may have limits on the maximum amount that can be transacted in a single transaction, while others may have daily or monthly limits. Additionally, most cryptocurrency ATMs require users to complete a Know Your Customer (KYC) process, which involves providing identification documents and personal information. This is done to comply with anti-money laundering (AML) regulations and to prevent illegal activities. As for fees, cryptocurrency ATMs usually charge a percentage-based fee for each transaction, which can range from 3% to 8% of the transaction amount. Age restrictions may also apply, with some ATMs requiring users to be at least 18 years old.
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• Binderup HamannOct 11, 2021 · 4 years ago
  Using cryptocurrency ATMs in Portugal is subject to certain restrictions and regulations. The specific limits on the amount of cryptocurrency that can be purchased or sold may vary depending on the ATM operator. Some ATMs may have daily or monthly limits, while others may have limits on the maximum amount that can be transacted in a single transaction. To use these ATMs, users are usually required to complete a KYC process, which involves providing identification documents and personal information. This is to ensure compliance with AML regulations and to prevent illegal activities. Fees associated with using cryptocurrency ATMs typically include a transaction fee, which is usually a percentage of the transaction amount. Age restrictions may also apply, with some ATMs requiring users to be at least 18 years old.
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• MalikaSep 05, 2024 · a year ago
  Yes, there are restrictions and regulations for using cryptocurrency ATMs in Portugal. The specific limits on the amount of cryptocurrency that can be purchased or sold may vary depending on the ATM operator. Some ATMs may have daily or monthly limits, while others may have limits on the maximum amount that can be transacted in a single transaction. To use these ATMs, users are usually required to complete a KYC process, which involves providing identification documents and personal information. This is to comply with AML regulations and to prevent illegal activities. Fees associated with using cryptocurrency ATMs typically include a transaction fee, which is usually a percentage of the transaction amount. Age restrictions may also apply, with some ATMs requiring users to be at least 18 years old. For more information on using cryptocurrency ATMs in Portugal, you can visit BYDFi's website, where they provide detailed information on the regulations and restrictions in place.
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