Category Archives: Bitcoin ATM

Bitcoin Depot ATM

Bitcoin ATMs 7 years: from 0 to 10000

Bitcoin ATMs installations exceeded 10’000 locations across the globe. It took industry roughly 7 years to reach this point since the first permanent bitcoin ATM installation in the end of 2013 (there is still a bitcoin ATM at this location in Vancouver at Waves Coffee House). Looking back at traditional bank ATMs, it took banks 9 years to install 10’000 ATMs, so the pace of bitcoin ATM installations is quicker than for bank ATMs back in the 70-s.

Interesting fact: After the first 3.5 years there were 1000 active bitcoin ATMs in operation, over the next 3.5 years this figure has increased by 9000 ATMs more.

It is a large milestone and achievement for all involved companies and people. We would like to congratulate all members of the community, entrepreneurs involved in operation of ATMs and supply of hardware and software, companies that provide compliance and other complimentary services helping to grow the business. We use this milestone as a chance to look back and check how running bitcoin ATMs became a professional business and evolved over these years.

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Interview: BelcoBTM CEO Elena Belyayeva

In this interview, you will hear Tony from Thinking Crypto talking to Elena Belyayeva who is the CEO of BelcoBTM. She will talk about Buy and Sell bitcoin machines, a new Mobile App, and adding new coins to their ATMs among other stuff.

The History of BelcoBTM

The idea for BelcoBTM started in 2015/16 when Elena first got into Crypto. She was working for a financial company and looking to transition into opening her own business. She had a feeling that crypto will be booming and noticed that there were very few ATMs at the time so she made a bold move and invested her savings into the Bitcoin ATM company. She liked the idea of Bitcoin ATMs back in the time when she was doing some Bitcoin trading, and noticed that these machines were the best way to introduce people to cryptocurrency and start the mass adoption.

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Bitcoin ATM Market Dynamics August 2020

The price of Bitcoin in August was fairly stable. At the beginning of the month, it was at $11,344 and it continued to vary within the 11k mark. The month ended with a Bitcoin price at $11,708 which is only a 3.2% increase compared to the beginning of the month.

The number of new machines continued to grow at a relatively stable rate.

Period Start: 8921, Period End: 9516
Opened: 776, Closed: 181, Net Growth: + 595 (6.7%)

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Interview with Chris McAlary, the CEO of Coin Cloud

In this podcast, you will hear Mike Townsend interviewing Chris McAlary, the CEO of Coin Cloud, which is the world’s largest Bitcoin ATM Company with over 800 machines (and growing), all of which allow two-way transactions of Bitcoin and 29 altcoins.

Being that Coin Cloud has a plan to overcome the 1000 ATMs margin in the next couple of months, it is logical that their plans are also related to expanding overseas. According to Chris, their next country will be Brazil. As he explains, it is especially suitable for Crypto ATM business because of its cash-intensive economy, where more than 50% of people get their income in cash, whereas in the United States that percentage is around 10%. Of course, the United States continues to be the priority of all Crypto ATM operators because of the extensive adoption of cryptocurrency by the customers and regulators as well.

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Bitcoin ATM Market Dynamics July 2020

The Bitcoin price in July was pretty steady for the bigger part of the month, until it reached noticeable rise near the end. July started at a $9,134 price tag and moved around the 9K until the 28th when it jumped over the 11K mark. The month ended at a $11,115 which is a 21.7% rise in comparison to the price at the beginning of the month.

The number of new machines continued to grow at a relatively stable rate.

Period Start: 8490, Period End: 8919
Opened: 544, Closed: 115, Net Growth: + 429(5%)

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Making Bitcoin More Accessible with Daniel Polotsky of CoinFlip ATM

In this interview held in April 2020, you will see Lea talking with Daniel from CoinFlip ATM. Some of the stuff they will be talking about will be about how they run their business, what sets them apart from other companies, what are their plans for the future, how the global pandemic affected the crypto market, and much more.

Talking about the CoinFlip ATM business Daniel shared that they currently are at about 550 ATM’s and are trying to push 20 ATM’s per week so they can try to end the year at over a thousand, and hopefully continue that trend so they can end the next year at 2500 or 3000.

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Bitcoin ATM Market Dynamics June 2020

The Bitcoin price in June mostly ranged between 9K and 10K mark. At the beginning of the month, the price was $9,451 and after a short spike, it started to fall. June ended with a Bitcoin price set at $9,185 which is a 2.8% decrease when compared to the price at the beginning of the month.

The number of new machines continued to grow at a relatively stable rate.

Period Start: 7978, Period End: 8502
Opened: 639, Closed: 115, Net Growth: + 524 (6.6%)

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Bitcoin Basics: How do Bitcoin ATMs work?

In this podcast published in March 2020, you will hear Gordon and Faris from CoinCompass answering questions on how bitcoin ATMs actually work.

The concept of this podcast is for people to send their questions related to Bitcoin ATMs for Gordon and Faris to answer. It’s not going to be too much technical or too much economic detail but simply the basics of Bitcoin – those questions you thought were too silly to ask but actually are not.

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Bitcoin ATM Market Dynamics May 2020

The Bitcoin price in May experienced fluctuations throughout the month. In the beginning, the price was at $8,629 and rose during the first week when it hit the 10K mark, after which it immediately started to decrease. After a couple of more fluctuations, the month ended at $9,451 which is a 9.5% rise compared to the beginning of the month.

The number of new machines continued to grow at a relatively stable rate, as the price of Bitcoin.

Period Start: 7596, Period End: 7904
Opened: 490, Closed: 182, Net Growth: + 308(4%)

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