Robocoin, the company, that launched the first Bitcoin ATM in Vancouver almost a year ago, announced the software update of their kiosks to a new platform which is called “Robocoin 2.0” and is connected to the launch of Bitcoin ATM wallet. The service itself was announced earlier, but now it became available to the customers.
Today is the 29th of September 2014, and it is one month before the anniversary of the first Bitcoin ATM installation in Vancouver. Let’s he how far we are now.
Recently we’ve added a new page on the site called Charts where we collect all the metrics about the Bitcoin ATM industry. The advantage of this statistics is that it is online and shows always up-to-date state of the Bitcoin ATM industry. In combination with the information about Bitcoin ATM installations per manufacturers, it gives a very solid base for understanding how we progress.
At the moment there about 240 Bitcoin ATMs worldwide. And this happened in less than a year. However, many people compare this to standard bank ATMs, mentioning there are more than 2 million available worldwide today.
Our answer would be: “Yes, and what?” How is it at all can be compared, when bank ATMs are there for more than 40 years now, and here we are talking about totally new concept of digital currency that appeared 5 years ago, and about Bitcoin ATMs that started appearing less than a year ago.
Being interested we decided to find some figures on the bank ATM installations and how they evolved initially.
As mentioned before – we have a functionality to show online prices for Bitcoin ATMs in case there is an API provided by the operator. At the moment many ATMs already display online information from the provider (all Genesis Coin ATMs, most Robocoin machines, some others). If you are running a Bitcoin ATM and would like your online rates to be displayed – please provide us with an API link.
While several operators asked for the template or API description, we put it here available publicly. In any case the set up is done manually with transformation to our standard data structure, so the list below contains just recommended examples, but not necessarily the requirement.
There are many Bitcoin ATMs appearing around the world and there are only several main producers for these machines. Operators want to make their ATMs look individually and usually use their own design, which is applied to standard Bitcoin machines.
Let’s look at the “Top Chart 5” of such ATMs provided by BitAccess.
We gathered a lot of information about the Bitcoin ATMs for our Bitcoin ATM Map thanks to many contributors. Now it is time to pay back to the community. For many Bitcoin machines information about the fees was stored. However, it was the information that operators usually don’t want to share. Recently we added integration of API from many providers which allowed us to show online rates for many Bitcoin ATMs. Using the data from both sources, it became possible to answer the question “How much do the Bitcoin ATM operators actually charge their customers?”
For detection of the fees for every machine we used the following algorithm (in descending priority order):
- If the data about online rates for two-way machine is available – calculate the fees based on the spread (buy and sell fees are averaged in this case);
- If the data about online rates of one-way machine is available – calculate the fees based on BitcoinAverage feed in corresponding currency;
- Finally, if there is no online rates information, but the data about fees was collected before – we use it.
Based on this logic we collected data on 127 Bitcoin ATMs out of total 230 machines (55%). While information about the fees was collected not only from the providers, but also from independent sources like reddit and bitcointalk, it is likely that the data is not biased and may be assumed as a representative sample.
The network of Coin ATMs increases quite fast these days. There is no a single day when a new ATM does not appear on our Bitcoin ATM Map. Recently, the new information became available that Blackcoin is going to be supported in some of the ATMs. Thanks to the Bitcoin42 team (they operate two Bitcoin ATM in Tijuana, Mexico) and Genesis Coin producer this became possible. Recently it was announced that the newly launched Bitcoin ATM in Bochum will also support Blackcoin transactions.
ATMs with Litecoin and Dogecoin support
It looks like the Genesis1 Bitcoin ATM is the most cryptocurrency agnostic ATM as of today. Initially Litecoin and Dogecoin support also was coming from this manufacturer. The first such ATM was launched in Tijuana, Mexico. Actually there were two ATMs launched in the same BIT Center: one was supporting US Dollar operations and the other one – Mexican Peso. The machines allowed both buy and sell cryptocurrency options.
The number of installed Bitcoin ATMs grow every day. It can be easily observed on the chart of Bitcoin ATM locations increase or in our recent post about Bitcoin ATMs with respect to manufacturers. In this post it is seen that Robocoin Kiosk installations are not that frequent compared to its competitors. But in recent days we see there are several Robocoin ATMs appeared in Europe.
Bitcoin ATM in Hague, The Netherlands
This Robocoin two-way Bitcoin Kiosk was installed in Hague, Netherlands. On this page you can find the online rates for buy and sell bitcoins at this machine. It is located in Barber & Co workspace office building. This Bitcoin ATM is already in use, but there will be official opening in the “last Tuesday of September”.
We are glad to announce a new functionality on the site. Now the information about Bitcoin ATMs became even more transparent. While working closely with Bitcoin ATM manufacturers and operators, we were able to add information to many of Bitcoin ATM pages, namely: information about current price level and limits for every machine. So now you don’t need to go to the ATM in order to check what is the current price and the spread, you can do this by checking our site.