This March Bitcoin price experienced a steady downfall. After reaching the highest price since the end of January at $11,565, at the beginning of the month, the price of Bitcoin started its decline. If you exclude a couple of bumps in the middle of March, the price faced a constant decrease and finished the month with $6,935, a 40% decrease in comparison to the beginning of the month.
Unlike the price downward trajectory, the number of new machines continues to grow.
Period Start: 2401, Period End: 2649
Opened: 289, Closed: 41, Net Growth: +248 (+10.3%)
In this article we look at one of the most important problems bitcoin ATM operators have — finding bank relationships and opening a bank account.
At the end of the post there is a company mentioned that provides services as intermediary and connects bitcoin ATM operators directly with bitcoin friendly banks also providing additional services on the way.
Disclaimer: We are not affiliated with this company, please do your own due diligence before entering in relations. The material is posted and contacts are provided because in our opinion it brings a value for many operators who potentially need banking relationships, but struggle to find it.Continue reading →
In January the world of cryptocurrency experienced quite a bit of volatility. The first week of February saw Bitcoin hit its lowest price for the year. As the month progressed the price began to climb back up. Despite a few dips, Bitcoin closed the month at $11,009, a 23.6% increase from the price at the beginning of the month.
Accompanying the upward trajectory was the growth in the number of new machines.
Period Start: 2197, Period End: 2392
Opened: 237, Closed: 42, Net Growth: +195 (+8.9%)
One of the main topics to research is regulation and what is needed to be done to properly register such a business. This is very important to do in right way from the beginning if you plan to do it professionally long-term and with potential to grow your bitcoin ATM network in the future.
Disclaimer: Information provided in this article is a general overview of current regulation found in public sources. It should not be taken as a legal advice. It is recommended to contact local lawyer in the area where you plan to operate machines. You can find several contacts at the end of this post.
Our last review covered September through November. Now we will take a look at the first month of the new year. The price of Bitcoin steadily soared to record highs through the first half of December. After peaking at $19,499, volatility has been the norm since then. The price of Bitcoin has seen sharp rises here and there, but overall for the month of January, it has progressively declined in value. In spite of the downward trajectory, the price of Bitcoin still remains high when compared to previous years.
The growth rate has remained steady for new machines.
Period Start: 2025, Period End: 2153
Opened: 149, Closed: 21, Net Growth: +128 (+6.3%)
Previous similar review was about August. Filling the gap of 3 months in this post we cover what are the main changes in bitcoin ATM statistics over last 3 months: September — November.
There was a drastic change of bitcoin price over this time, it grew from $4912 in beginning of September to $10884 at the beginning of December (more than 2x growth).
Demand for buying cryptocurrency supported the installations of new machines and new operators entering the market. Here are general figures for 3 months:
Period Start: 1514, Period End: 1890
Opened: 519, Closed: 143, Net Growth: +376 (+24.8% or 7.6% per month)
This article is for all newcomers to cryptocurrency field. At Coin ATM Radar we receive many requests to register account in order to start using bitcoins and bitcoin ATMs in particular. In order to buy and start using bitcoins, you don’t need to register with any service provider. We will cover the main options how to start using cryptocurrencies, and especially Bitcoin — the most popular cryptocoin as of today.
The first thing you need to do is choosing where to store your bitcoins, when you buy or receive them. There are two main options:
Store with third-party service provider
Store on your own in local wallet
You can store them with any of online wallets or exchanges (e.g. Coinbase, Kraken etc), in this case you trust these services, while they fully control access to your bitcoins, so generally you trust them that they will send bitcoins to you or to someone you will want to pay in the future, if you ask them to do so. This is no different from traditional banking, when you don’t control your money, rather banks do and promise you that they will execute your order to pay in the future.
However, the great thing about Bitcoin is that it allows you to fully control your funds without any intermediary and this is done with wallets installed locally on your device, be it mobile phone or computer.
During July 2017 bitcoin price fluctuated a lot. In the beginning of the month it fell to less than $2000 per BTC, but then quickly gained back and month closed at roughly $2700 per BTC, which was higher than the price of end of June 2017.