This CoinHero review looks at Hong Kong’s largest Bitcoin ATM operator purely through its published terms. Short answer: CoinHero is the easiest place in the city to turn banknotes into Bitcoin without an account, and one of the most expensive. Its own FAQ lists a 13% fee plus HK$100 on every buy, and only a small number of its machines will buy crypto back from you.
We have not scored CoinHero on anecdotes or user ratings. The score below is an editorial assessment of what the company itself publishes — fees, limits, locations, coins and identity checks — set against what the same money buys through other routes in Hong Kong. Every number is dated, because CoinHero has changed its fee sheet at least once in the past year.
Verdict at a glance
CoinHero wins on coverage: about a hundred machines in laundromats, arcades and malls from Kennedy Town to Tuen Mun, a 24-hour flagship in Causeway Bay, and no sign-up below HK$100,000. It loses on price. At 13% plus HK$100, a small buy costs roughly 15% of your cash, sell points are rare, and the machines sit outside any SFC licence.
What works
- The biggest ATM footprint in Hong Kong, spread across Hong Kong Island, Kowloon and the New Territories
- Causeway Bay flagship open 24 hours, seven days, for both buying and selling
- No registration for single transactions from HK$500 up to HK$100,000
- Accepts HK$100, HK$500 and HK$1,000 notes (first note must be HK$500 or HK$1,000)
- Free membership halves the percentage fee; an OTC desk handles larger trades
Watch out for
- Published buy fee of 13% + HK$100 — several times the cost of a card or bank-funded purchase
- Only about eight of the ~100 sites also buy crypto back for cash
- Fees have moved (8.6% in Oct 2025, 13% in the current FAQ) with no dated changelog
- Not SFC-licensed; no investor protection or regulated complaints route
- You must bring and manage your own wallet — a wrong QR code means lost coins
How big the CoinHero network really is
Ask three sources how many machines CoinHero runs and you will get three answers. The company’s October 2025 press release said “more than 90”. When our researchers read the live locator in September 2026 it listed 100 locations: 24 on Hong Kong Island, 35 in Kowloon and 41 in the New Territories and outlying islands. A second locator page on the same site, atm-locations1, has been quoted at 124 locations, and our own automated reads of the pages on 30 September returned different totals again.
The explanation is fairly mundane. The locator is rendered by JavaScript, the two pages are not kept in sync, and some entries are machines that open only when their host shop does — a claw-machine arcade, a self-service laundry, a nightclub on Wyndham Street that is only open late in the week. Machines also move. We therefore treat “about a hundred” as the honest figure, and we would not rely on any single count, including ours. Coin ATM Radar, the aggregator most media quote, put the whole city at roughly 220–240 machines, which makes CoinHero something like 40% of the market.
The spread is genuinely wide. On the Island you will find machines in North Point laundries and the Monster Building in Quarry Bay; in Kowloon, four in Mong Kok alone, including Grand Plaza on Nathan Road; in the New Territories, clusters in Tuen Mun, Yuen Long, Tseung Kwan O and Sheung Shui, plus one on Cheung Chau. Our Hong Kong Bitcoin ATM guide maps CoinHero against CoinUnit, Localcoin and the smaller operators if you want alternatives near you.
CoinHero also lists ATMs and an OTC service in Taiwan. Its FAQ says the Taiwanese machines sell Bitcoin only, buy-only, with limits from TWD 1,000 to TWD 360,000. That matters little to Hong Kong users, except as a sign that this is a regional business rather than a one-shop operation.
CoinHero Bitcoin ATM fees
This is the part that decides whether a machine makes sense. CoinHero’s official Q&A page, read on 30 September 2026, lists the following for Hong Kong dollar machines. The percentage is built into the rate you are quoted on screen, and the fixed fee comes on top.
| Transaction | Coins | Published fee | With membership |
|---|---|---|---|
| Buy with HKD | BTC, ETH, DOGE, XAUt | 13% + HK$100 fixed | 6.5% + HK$100 (fixed fee not halved) |
| Buy with HKD | BCH | 1% | Not stated |
| Sell for HKD | BTC, ETH | 13% + HK$25 fixed | 6.5% + HK$25 |
| Sell for HKD | BCH | 1% | Not stated |
| OTC desk | Larger trades | Up to 5% (members 3%) | FAQ minimum HK$8,000 |
Three things stand out. First, the fee has risen: the October 2025 press release promised an “8.6% spread plus HKD 100 flat fee” and branded it transparent. The FAQ now says 13%. We cannot tell whether the headline rate changed, whether it varies by machine, or whether promotions were involved, so the screen quote at the moment of purchase is the only number that counts.
Second, the membership. CoinHero says its annual membership is “valued at” HK$1,000 but currently given free, and the headline perk is 50% off ATM fees. The small print on the membership page excludes the fixed fee. For a HK$5,000 buy that turns a roughly 15% cost into roughly 8% — still high, but a real saving. If you are going to use a CoinHero machine more than once, signing up is the obvious move.
Third, the BCH exception. Bitcoin Cash carries a 1% fee with no fixed charge. Unless you actually want BCH, this is a curiosity rather than a loophole; converting BCH into Bitcoin elsewhere adds its own fees and paperwork.
The OTC numbers also disagree across sources. The FAQ quotes up to 5% (3% for members) and a HK$8,000 minimum, while the press release said the “First Class OTC” service had no minimum. Ask for a written quote before you hand over cash.
What HK$5,000 actually buys
Percentages hide how much a fixed fee hurts small tickets. Here is an illustrative worked example using published fees only. It assumes the fixed fee comes off first and the percentage applies to the rest, and it ignores the extra spread between CoinHero’s rate and the market price, network fees and price moves — so real results will be slightly worse on every line.
| Route | Fees applied | Crypto value (approx.) | Effective cost |
|---|---|---|---|
| CoinHero ATM, current FAQ | 13% + HK$100 | HK$4,263 | ≈14.7% |
| CoinHero ATM, with free membership | 6.5% + HK$100 | HK$4,582 | ≈8.4% |
| CoinHero ATM, Oct 2025 press rate | 8.6% + HK$100 | HK$4,479 | ≈10.4% |
| Card purchase on an international exchange (e.g. CEX.IO at 2.99%) | 2.99% + service charge | up to HK$4,850 | ≈3%+ |
| Licensed HK route via bank (e.g. ZA Bank) | 0.8% platform fee (min. HK$15) | HK$4,960 | ≈0.8% |
The gap is roughly HK$270–700 on a single HK$5,000 purchase, depending on which two routes you compare. Card fees on international exchanges vary by card and country; CEX.IO publishes a 0.49–4.99% range plus a service charge, and it is not licensed by the SFC — Hong Kong users contract with its offshore entity. The regulator’s recommended route is an SFC-licensed platform, and our list of licensed crypto exchanges shows which ones take FPS. For a side-by-side of speed and cost, see the quickest ways to buy crypto in Hong Kong.
Have a card instead of cash?
A card purchase online usually costs a few per cent, not 13% plus HK$100. Try a small amount first to see the full cost on screen.
Where you can sell to a CoinHero ATM for cash
Most CoinHero machines are one-way: notes in, crypto out. The research brief compiled earlier in September counted nine buy-and-sell sites, including Nan Fung Plaza in Hang Hau. When we re-read the locator on 30 September, the Hang Hau entry was labelled buy-only, leaving the eight below. Sell fees are 13% plus HK$25 on BTC and ETH. Hours are as published by CoinHero; call ahead before a long trip, because a machine that is out of cash cannot pay you.
- ATM Sells for cash Operator-listedCoinHero Causeway Bay Flagship Shop G/F, 1A Canal Road East, Causeway Bay Mon–Sun, 24 hours · HQ and OTC desk
- ATM Sells for cash Operator-listedCoinHero Kwun Tong #1 Shop 205, 2/F, Yue Man Square (YM2), 33 Hip Wo Street, Kwun Tong Mon–Sun 10:00–22:00
- ATM Sells for cash Operator-listedCoinHero Mong Kok #3 (Grand Plaza) 2/F, Grand Plaza, 625 & 639 Nathan Road, Mong Kok Mon–Sun 07:00–00:00
- ATM Sells for cash Operator-listedCoinHero Tsim Sha Tsui #1 (K11 Art Mall) B2/F, K11 Art Mall, 18 Hanoi Road, Tsim Sha Tsui Mon–Sun 10:00–22:00
- ATM Sells for cash Operator-listedCoinHero Tsim Sha Tsui #3 Shop 13, G/F, Tsim Sha Tsui Mansion, 83–97 Nathan Road Mon–Sun, 24 hours
- ATM Sells for cash Operator-listedCoinHero Sheung Shui G/F, 14–16 San Kung Street, Sheung Shui Mon–Sun, 24 hours
- ATM Sells for cash Operator-listedCoinHero Tuen Mun #3 Shop 94, G/F, Man Bo Building, 2 Tsing Hoi Circuit, Tuen Mun Mon–Sun, 24 hours
- ATM Sells for cash Operator-listedCoinHero Yuen Long #3 Shop D1, 14–28 Pau Cheung Square, Yuen Long Mon–Sun, 24 hours
The flagship is the one to know. It sits at the Canal Road East end of Causeway Bay, a short walk from Times Square, and is the only CoinHero site on the Island that pays out cash around the clock. Kowloon has the best choice: two sell points in Tsim Sha Tsui, one on Nathan Road in Mong Kok and one at Yue Man Square in Kwun Tong. If you need to cash out a larger amount, the maths gets worse fast; our guide to selling crypto for HKD compares machines with licensed exchanges and walk-in shops.
Limits, notes and identity checks
The FAQ sets a minimum of HK$500 and a maximum of HK$100,000 per transaction without registration. The HK$500 floor exists because of a quirk in the note rules: machines accept HK$100, HK$500 and HK$1,000 notes, but the first note you feed in must be a HK$500 or HK$1,000. Once that is in, you can top up with HK$100s.
Above HK$100,000 you must register. The FAQ lists email, a mobile number with one-time passcode, an ID document scan (HKID or passport), a selfie and a fingerprint capture. Registered members can reportedly trade up to HK$1 million. Nobody should read the lack of ID checks on smaller amounts as anonymity: the phone number, the receipt and the blockchain trail all exist, and the operator can be asked for records. What the low-friction design really buys you is speed.
Using a CoinHero machine, step by step
- Set up a wallet firstInstall a self-custody wallet you control and note the receiving address for the coin you want. Our wallet guide explains the options.
- Pick the right machineCheck the live locator on coinhero.hk the same day. If you might sell later, note the buy-and-sell sites above.
- Choose coin and amountSelect BTC, ETH, DOGE, BCH or XAUt and read the quoted rate and fixed fee on screen before inserting any cash.
- Scan your QR codeHold your wallet’s receiving QR code to the scanner and compare the first and last characters on screen.
- Insert notesStart with a HK$500 or HK$1,000 note, then add more. Stop at HK$100,000 unless you are registered.
- Keep the receiptPhotograph or keep the printed receipt with the transaction ID. It is your only record if something goes wrong.
Legal status and what could change
Bitcoin ATMs are legal to use in Hong Kong, but they are not licensed as crypto businesses. Several 2025 articles claimed ATM operators “must hold an MSO licence from Customs”. That is not accurate: the Money Service Operator regime under the Anti-Money Laundering Ordinance covers money-changing and remittance of fiat currency. The government’s own consultation papers group “coin shops and ATM networks” together as the physical segment that currently sits outside virtual-asset licensing. CoinHero does not appear on the SFC list of licensed platforms.
That is set to change. In June 2025 the government proposed an SFC-licensed “virtual asset dealing” regime that explicitly covers simple crypto-for-cash conversions “through physical locations and/or other platforms” — ATM networks included. The consultation conclusions in December 2025 confirmed it will go ahead, with paid-up capital of HK$5 million and no transitional “deemed licence” period. As of 30 September 2026 the bill had not been gazetted. Once it is in force, CoinHero will need to be licensed, partner with a licensee, or switch machines off. Our regulation explainer tracks the timetable.
Until then, the practical meaning is simple: if a transaction goes wrong, there is no SFC complaint route and no investor compensation. You are relying on CoinHero’s own customer service, the (+852) hotline on its website, and the receipt in your hand.
Who CoinHero suits — and who should skip it
CoinHero makes sense if you hold cash rather than a card, want a few thousand dollars of Bitcoin tonight, and value not opening an account more than you value the 13%. Visitors passing through Causeway Bay or Tsim Sha Tsui, people without a Hong Kong bank account, and anyone who needs to cash out a small amount at 3am are the natural users. The free membership should be the first thing you do if you expect to come back.
It makes little sense for regular saving, for amounts above a few thousand dollars, or for anyone who already has an HKD bank account and an FPS-enabled app. A licensed platform such as OSL or HashKey Exchange costs a fraction and comes with SFC oversight. If you prefer a human over a machine, compare the staffed counters in our One Satoshi review and crypto shop directory. And if you simply want a card purchase from an international platform, our CEX.IO review explains what you give up by leaving the Hong Kong regime.
Our 6.4 reflects both sides: top marks for reach and friction-free access, a heavy deduction for cost, sell-point scarcity and the absence of any licence. If CoinHero restores the 8.6% rate, or obtains a licence under the coming dealer regime, the score would move up.
Frequently asked questions
How much does a CoinHero Bitcoin ATM charge in Hong Kong?
CoinHero’s own FAQ lists 13% plus a HK$100 fixed fee to buy BTC, ETH, DOGE or XAUt, and 13% plus HK$25 to sell BTC or ETH. BCH is 1%. An October 2025 press release quoted 8.6% plus HK$100, so rates have changed before — check the screen before you insert a note.
Which CoinHero ATMs let you sell Bitcoin for cash?
Only a handful. On 30 September 2026 the locator marked the Causeway Bay flagship, Kwun Tong #1 (Yue Man Square), Mong Kok #3 (Grand Plaza), Tsim Sha Tsui #1 (K11 Art Mall) and #3 (TST Mansion), Sheung Shui, Tuen Mun #3 and Yuen Long #3 as buy-and-sell. Every other machine is buy-only.
Do I need ID to use a CoinHero ATM?
Not for small amounts. The FAQ sets a minimum of HK$500 and a maximum of HK$100,000 per transaction without registration. Above that you register with email, phone number, an ID scan, a selfie and a fingerprint. You still need your own wallet address, usually shown as a QR code on your phone.
Is the CoinHero membership really free?
CoinHero describes an annual membership “valued at” HK$1,000 that it currently gives away. Its main perk is a 50% discount on the percentage ATM fee. The HK$100 fixed fee is not halved. You sign up at a machine or at the Causeway Bay flagship; check the membership page for current terms.
Is CoinHero licensed by the SFC?
No. Crypto ATMs in Hong Kong are not currently licensed as such — they are part of the physical coin-shop segment the government plans to bring under a new SFC dealer regime. CoinHero does not appear on the SFC list of licensed virtual asset trading platforms, so you have no SFC investor protection when you use a machine.
What notes does a CoinHero ATM accept?
Hong Kong machines accept HK$100, HK$500 and HK$1,000 notes, but the FAQ says the first note you insert must be a HK$500 or HK$1,000. That is why the practical minimum per transaction is HK$500. Coins and Octopus cards are not accepted at the machines.
Sources & further reading
- COINHERO — Q&A (fees, limits, notes, KYC) · accessed 30 Sep 2026
- COINHERO — ATM locations · accessed 30 Sep 2026
- COINHERO — Membership · accessed 30 Sep 2026
- CoinDesk (press release) — COINHERO expands Hong Kong’s crypto ATM network · 21 Oct 2025
- SFC — Lists of virtual asset trading platforms · updated 29 May 2026
- HKSAR Government — Legislative proposal to regulate VA dealing (consultation) · 27 Jun 2025
- HKSAR Government — Consultation conclusions on VA dealing and custody · 24 Dec 2025
- Customs and Excise Department — Money Service Operators · accessed 30 Sep 2026
Keep the 13% in your pocket
If you have a card and a wallet, an online purchase usually costs a fraction of a machine’s percentage fee. Save the ATM for when cash and privacy really matter.
Operating since 2013 · Card & Apple Pay · Registered in the US, Gibraltar and Spain · Why this pick?