Security

Bitcoin Depot to require ID verification for crypto ATM transactions

Photo: Adobe Stock

February 24, 2026

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Bitcoin Depot will now require customers to provide ID with every transaction as part of an effort to combat fraud and illegal activities, according to a press release.

Scams have grown significantly at bitcoin ATMs, with the FBI reporting$333 million in losses in 2025, and the real number likely being much higher.

"Bitcoin Depot has always prioritized compliance and consumer protection, and it's crucial to our operations that we demonstrate proactive leadership in preventing fraud and building trust with our customers," Scott Buchanan, Bitcoin Depot CEO, said in the release. "Continuous verification allows us to detect suspicious activity based on customers, locations, or transaction amount before a transaction is approved. By requiring identity verification at every transaction, we are taking an additional step to strengthen security, protect customers, and maintain the integrity of our services."

Bitcoin Depot believes the feature will help prevent account sharing, identity theft or other fraudulent methods.

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