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High-fee crypto ATMs center around low-income parts of Kansas City

Summary by Ground News
Finance professor Jocelyn Evans encountered a cryptocurrency ATM on her way to talk about financial education with students. More than 100 cryptocurrency kiosks have been installed in gas stations, liquor stores, smoke shops and elsewhere across the Kansas City area in the last few years. Critics call the machines a targeted attempt to exploit financially vulnerable people with steep fees for a volatile product that's difficult to cash out from.
DisclaimerThis story is only covered by news sources that have yet to be evaluated by the independent media monitoring agencies we use to assess the quality and reliability of news outlets on our platform. Learn more here.

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High-fee crypto ATMs center around low-income parts of Kansas City

Finance professor Jocelyn Evans first encountered a cryptocurrency ATM on the way to talk about financial education with students last fall. Evans stopped at a gas station on her way to Sumner Academy in Kansas City, Kansas. She came across the machine with the word “BITCOIN” on the screen. Store staffers weren’t familiar with the machine, which didn’t provide much explanation about how cryptocurrencies work. “It’s a low-income area with primari…

·Kansas City, United States
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kcbeacon.org broke the news in Kansas City, United States on Tuesday, August 15, 2023.
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