Monthly Archives: August 2018

Bitcoin Depot ATM

Paul Zahner from Elev8 at Crypto Shit Show about operating bitcoin ATMs

In this video, from the Crypto Shit Show held in Philadelphia on May 23, 2018, Paul Zahner from Elev8 ATM services is speaking about his company and their services in the cryptocurrency ATM business.

Elev8 is a United States based operator that has 7 bitcoin machines installed in Pennsylvania, Delaware and Costa Rica.

Quick History

Paul first heard of Bitcoin back in 2012 and really did not pay much attention to it, like most people and over the years he thought it was cool technology, but never really sunk in until  2 years ago. In 2016 the Bitcoin got really crazy so he started to go down to the Bitcoin rabbit hole. As he became more and more passionate about the technology he really wanted to do something different. With a help of his friend he bought his first 3 machines and started his business. He also states that in order to go into the Crypto ATM business you need to be passionate about the technology and to understand how the money works.

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Bitcoin ATM Market Dynamics July 2018

In the first half of July the price of bitcoin maintained a steady flow, keeping the value between $6,250 – $6,750. While in the other half of the month, the price started to grow. The month ended with a price tag of $7,917 which is an 24% increase in comparison to $6,375 at the beginning of the month.

Bitcoin Price July 2018, source: blockchain.info

Accompanying the upward price trajectory was the growth in the number of new machines, but the growth is significantly slower than in previous months.

Period Start: 3415, Period End: 3470
Opened: 187, Closed: 132, Net Growth: +55 (+1.6%)

The end of period of quick growing prices also result in some slow down on bitcoin ATM market. We steadily have several second-hand bitcoin ATMs for sale, which was empty section during several months of high prices. Also as manufacturers deliver machines to operators with delay of several months (usually about 3 months) approximately middle of spring was the time when machines ordered on the peak of hype were delivered, since then the installations speed reduced.

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