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 review: two-way Genesis1 and one-way Satoshi1 models
- General Bytes bitcoin ATM review: one-way BATMTwo model
- General Bytes bitcoin ATM review: two-way BATMThree model
- How to choose a bitcoin ATM – a comparison of Skyhook / Lamassu / General Bytes 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.
Following demand on the market company launched a cheaper two-way version using the same kiosk box as Satoshi1, but with additional bill dispenser integrated. This allowed to provide a model cheaper than Genesis1, but fully supporting sell bitcoin transactions. All bitcoin machines from Genesis Coin product line use the same software and back-end, so Satoshi2 has all the advantages of it as well.
Characteristics / hardware components
Large 21″ screen
Large screen is a big advantage, as it allows to make machine attract attention of customers at the location. In combination with white-labeling the company provides – it can be used to develop bitcoin ATM operator’s brand or put a notice/ad on the screen, when the machine is not used.
Bill acceptor / dispenser
This bitcoin machine is equipped with MEI SCNXL83 bill acceptor. This model is assessed as one of the best in its class bill validators and used in high traffic casinos where authenticity is key. Note capacity is 2200 bills. This is the same bill acceptor which is used in Satoshi1 model from the same provider.
Satoshi 2 is a two-way bitcoin ATM and allows sell of cryptocurrency in exchange for cash, hence machine is also equipped with bill dispenser, which has 2 cassettes each holding 2000 notes.
It is important to have receipt printer at the machine, as it gives more confidence for users when a receipt is printed as a confirmation at the end of the process. Also it allows to have a functionality for generating and printing wallets for customers, who don’t have their own wallet setup before using machine.
Barcode scanner above the pin pad can read bitcoin wallet address QR codes. Also it can scan most PDF417 barcodes from ID cards, and if an ID doesn’t have PDF417 data but has a magnetic stripe, it can be read with the card reader. Operators can also require photos of ID documents using the webcam above the screen.
Magnetic card reader (EMV Optional)
Satoshi2 software doesn’t support buying bitcoins using debit or credit cards, however, this scanner might be useful when ID document cannot be scanned (e.g. not having PDF417 barcode), buy ID document has a magnetic stripe, it can be read with card reader.
Can be used for QR code scanning and making picture of the customer.
Satoshi2 as other models from Genesis Coin product line support white-labeling. Owners of machines can set the logos on the home screen, interface, and receipts, in addition to uploading a ‘screensaver’ that plays in a loop when the machine is not in use. Operators can also attach a custom ‘coupon’ to the bottom of every receipt that is printed.
Price and delivery
At the time of writing Satoshi2 costs $8900 with included delivery to any USA location. Purchasing outside of the U.S. is possible, however delivery terms need to be discussed with company representative.
For questions regarding this bitcoin ATM: Contact manufacturer
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