This is eighth review from our bitcoin ATM use series.
The following review is provided to us by Loren C. Ross from Huntington Beach, CA. Bitcoin machine that was reviewed is located at Ken’s Discount Liquor Store in Corona.
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:
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:
This scenario is illustrated on the following diagram (click to enlarge):
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:
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.