Revenue and costs of running a bitcoin ATM

Bitcoin ATM industry is growing fast. There are several new bitcoin machine installations worldwide daily. Existing bitcoin ATM operators increase number of machines in their networks, as well as new operators join the market. Even on the production side, there are new manufacturers developing their products and coming to the market with new bitcoin machine models targeting different segments and niches, e.g. recently were added BitTeller, Bitlox, BitConcept on our site.

Running a bitcoin ATM is an interesting business opportunity in the new era of digital currencies, however, sometimes the lack of information keeps people away as they don’t know where to start, or get any practical estimations of how much you can earn with a bitcoin ATM. In order to increase transparency Coin ATM Radar conducted a survey with a number of bitcoin ATM operators to find out what are current metrics of an average bitcoin ATM business.

Revenue and costs of bitcoin ATM

Before going any deeper we recommend to read:

Now back to survey. It was sent to 24 operators in total, 11 responded either in full or skipping some questions due to not wanting sharing info, although it was mentioned that none of info will be associated in any form to the company or person responding. Even limited info we received gives a good estimation of level of costs and earnings one should expect.

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Bitcoin ATM settings for hot wallets and exchange integrations

In the previous article we covered exchange and counterparty risks of operating a bitcoin ATM and two general ways to do it: sell bitcoins from your hot wallet, or do mirror deals via bitcoin exchange.

In this post we look at what system settings are supported by main bitcoin ATM providers, namely: Lamassu, General Bytes and Bitaccess. Other large supplier of bitcoin ATMs — Genesis Coin was reached but didn’t provide details about their setup options.



Lamassu bitcoin ATM has an open source code. This allowed different developers to take the code and build software upon it. E.g. Dash implementation is done by external party, Ethereum was also implemented by external party first and later on Lamassu added their own version of ETH official support.

Based on information provided by Neal Conner (Customer Service Manager) Lamassu bitcoin machines support the following settings currently:

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Risks of running a bitcoin ATM business

Running a bitcoin ATM brings a lot of opportunities. On the other side such a business brings a lot of risks too.

This post concentrates on two of the main risks which bitcoin ATM operators have to deal with and choose which way to follow:

  • Exchange rate risk;
  • Counterparty risk.

For simplicity reasons lets look at the case when bitcoin ATM allows buying bitcoins for cash, not selling. Every bitcoin ATM operator chooses how to run a bitcoin machine in this case:

  • By using own bitcoin stock;
  • Through exchange mirroring deals.

Selling bitcoins from own stock

This scenario is illustrated on the following diagram (click to enlarge):

Operating bitcoin ATM from own stock bitcoins

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Bitcoin ATM review: Satoshi2 model from Genesis Coin manufacturer

There is a number of different bitcoin ATM types on the market. Operators need to choose a proper solution before starting a bitcoin ATM business. The machine needs to fit their requirements at best.

We have reviewed several bitcoin machines in previous posts, you might be interested in looking at the following posts:

Genesis Coin bitcoin ATMs
Genesis1 and Satoshi1 bitcoin ATM models

This post is dedicated to Satoshi2 model from Genesis Coin, which is a third generation model of its product line (this model can be called “Satoshi2” or “two-way Satoshi1”, which refers to the same product). The first generation model Genesis1 was a large bitcoin machine similarly looking to many traditional bank ATMs (it uses Genmega hardware), which supported two-way operations. Later company launched lighter version – Satoshi1, this machine was smaller, but with large 21″ screen. It supported only buy bitcoin operations.

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Using a bitcoin ATM: Satoshi1 bitcoin machine at BrySon Milan in Chicago

This is a sixth review of our bitcoin ATM usage series.

The following review is provided to us by Andrew Scott from Chicago, IL. Bitcoin machine that was reviewed is located at BrySon Milan in Chicago.

Bitcoin ATM machine in Chicago at BrySon Milan

Notice: I’m very new to bitcoin and this is actually how I purchased my first bitcoin, so please bare with me.

For a long while now I’ve known that bitcoin was something I would be interested in if only I would take the time to learn about it. I work with software for a living, cyber security specifically. I also enjoy keeping up with economic and financial news. And I typically like to be involved with whatever the new bleeding edge tech is. So all things considered, I really missed the boat when it comes to being an early bitcoin user. Continue reading

Using a bitcoin ATM: Robocoin / Lamassu machine at Southcenter Mall in Seattle, WA

This is a fifth review of our bitcoin ATM usage series.

The following story is provided to us by a user with nickname Crow from Seattle, WA. And bitcoin ATM reviewed is located at Southcenter Mall in Seattle, WA.

Coinme bitcoin kiosk Seattle

I discovered this website (and subsequently, this ATM) recently. The overall experience was good (with some exceptions).

The ATM does not accept credit/debit cards, which wasn’t a huge dilemma (for me personally) as there was a cash ATM right next to the bitcoin ATM. So, the machine was conveniently placed next to a cash ATM to address that issue. No big deal. The cash ATM also happened to be surcharge-free for me, even better.

The bitcoin ATM process starts off simple. Buy or Sell bitcoins? Today, I bought bitcoins.

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How to find a bitcoin ATM

The following tutorial shows how to find a bitcoin ATM near you. It was done for the old site design, but functionally not much has been changed since redesign and bitcoin ATM map still can be found on the main page.

After watching this video you will know:

  • How to find a bitcoin ATM in your city
  • How to check current price and fees of the machines
  • How to find limits of operations
  • How to find the best offer in your area

To make the process even easier, we’ve added a separate page for searching a bitcoin ATM nearby your location.


To find a nearest bitcoin ATM to you visit our map.
To get the latest data on bitcoin machines follow us on twitter @CoinATMRadar.