What We Do
LUXOLO helps you confidently exchange wealth into bitcoin, including securing, managing and using your new money.
Bitcoin / Litecoin ATM
LUXOLO’s bitcoin ATMs accepts $USD cash from you and immediately delivers bitcoin or litecoin cryptocurrency to the customer’s chosen wallet. The machine will accept $20, $50 and $100 bill denominations. If you don’t have a wallet, the machine will produce a paper wallet and deliver the exchange proceeds to it.
In order to process your transaction, $USD cash funds and a domestic cellular phone are required. The ATM will send you an SMS text with a security code which you must enter to commence your transaction.
LUXOLO’s bitcoin ATM charges you a two-part transaction fee. The first component is a network “mining” fee that all worldwide bitcoin transactions incur and is paid to whichever mining pool happens to confirm the block of which your transaction is a part. This fee varies considerably, but generally has been under $0.64 USD per transaction, regardless of transaction amount for several months now. The second component of your fee is 8% of the exchange amount, which is built into the exchange price displayed on the ATM screen and is paid to LUXOLO. Most of this fee covers LUXOLO’s operating expenses required to offer you a safe, secure and reasonably private and convenient transaction. Another portion of this fee is a software service charge, and the smallest remaining portion is LUXOLO’s profit.
For more information about selecting and using cryptocurrency wallets, check out our recent blog post “Detailed Bitcoin FAQ”
Personalized Desk Exchange
First Learn the Basics
We strongly recommend that you first review some bitcoin basics before executing a cryptocurrency exchange transaction. LUXOLO is not a financial advisor, investment advisor, custodian or fiduciary, so it’s incumbent upon the investor to seek adequate education and professional advice prior to any exchange order.
You are welcome to start with our Bitcoin Simplified below and by browsing our blog posts. But we strongly recommend the DYOR (Do Your Own Research) approach in finding the best cryptocurrency education sources that match your own personal style.
Once you’re equipped with some basic bitcoin education and ready to place an exchange order, we welcome you to experience LUXOLO Signature Service. This premium service is included with each desk order and includes a generous two-way discussion and orientation in order for you to become comfortable, conversant and able to confidently handle your cryptocurrency funds. Our mission is to provide you with powerful tools and resources to Become Your Own Bank.
- Orientation of the bitcoin exchange marketplace
- Discussion of wallet storage options and security
- Some basic tax and legal considerations of cryptocurrency
- Integration of bitcoin into your existing investment portfolio
- Q&A session
- Guidance completing the transaction Purchase Order form
- AML Regulatory Review and Approval
- Remitting certified funds to LUXOLO
- Fulfillment and confirmation of your order
- Reasonable post-transaction support
Finally, please note that valid positive identification, full contact information, SSN, certain background information and your signature are all required by federal law regulations for money service businesses in order to process and complete your transaction. Certified funds via wire transfer to LUXOLO are required.
Fees. Each desk order transaction includes a pre-order consultation, LUXOLO Signature Service and reasonable post-transaction support. The fee for a desk order is 6% of the exchange amount.
Currently LUXOLO is only able to fulfill exchange orders from Maine residents. Additionally, when remitting funds via wire transfer, a domestic bank account is required.
Why The Heck Do We Need Bitcoin?
By popular demand, we’ve created this concise, easy to read booklet to help you understand bitcoin. It’s so simple, even your 8-year old will get it. Satisfaction guaranteed or we’ll send you a free bitcoin bumper sticker.