More deets on this scam and a bit of accessibility . . . Day-trader suburbanites shouldn't be the only people who are targeted by this scam . . . Check-it . . .
The companies running the machines argue they’re providing communities an alternative to traditional financial institutions that have historically given worse deals to poorer neighborhoods and communities of color.
But 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.
Read more via www.TonysKansasCity.com link . . .
High-fee crypto ATMs center around low-income parts of KC: Why it's so hard to cash out
"This is no different than people who target the Black community for payday loans or subprime loans," said finance professor Jocelyn Evans. "They're targeting people with the least financial knowledge and understanding of how you invest in cryptocurrencies."
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