Cash in Person

The most common cash trade we do is smaller than people expect. Someone finishes a shift, gets paid in cash or cashes a check, and wants part of it in Bitcoin before the weekend. They have done it before, they know roughly what they want to spend, and they are in and out in about ten minutes.

The second most common is the opposite trade. Someone has held coins for a few years, needs the money for something specific, and wants cash in hand today rather than a bank transfer that clears on Tuesday. That trade takes longer, mostly because we count the money twice.

Both are walk-ins. Neither needs an appointment. If you are bringing more than about $10,000 it helps to call ahead so the right amount of cash is on hand, and if you are selling, calling ahead is the difference between same-hour and same-day.

There is one fee, and you see it before you agree to anything. The screen shows the live market rate, the fee in dollars, and the amount of Bitcoin you end up with. You approve it, then you pay. Nothing is deducted after the fact.

That is worth checking anywhere you trade, not just here. The real cost of a Bitcoin purchase is the fee plus the spread, which is the gap between the market price and the price you were actually given. A machine can advertise a small fee and still take a large cut in the spread. California now requires kiosks to print that spread on the receipt, which makes it easy to compare: add the two numbers, then judge.

For context on the rules that apply to the machines instead of the counter, see our guide to California’s $1,000 kiosk limit.