In this post we look at what system settings are supported by main bitcoin ATM providers, namely: Lamassu, General Bytes and Bitaccess. Other large supplier of bitcoin ATMs — Genesis Coin was reached but didn’t provide details about their setup options.
Why you need to create and promote your bitcoin ATM brand
Almost every day there is a new bitcoin ATM installed somewhere in the world. Most of the locations are in the U.S. and as it was mentioned in previous posts there is a concentration trend continues in bitcoin ATM industry. Concentration happens on both levels: geographical level (bitcoin ATM locations are not evenly distributed with some peak numbers in particular cities) and operator level (there are some big players appeared on the market that have many bitcoin ATM machines installed). Two trends are interrelated as the same operator may want to locate machines in the area where the company or owners are located. However, some bitcoin operators have nationwide or even worldwide networks.
With these trends in place it is very important for bitcoin ATM operators to distinguish their machines from competitors’. There are many reasons for this, but the main ones are:
With bitcoin price rise the speed of bitcoin ATM installations also accelerated as there is a spike in number of bitcoin ATMs appeared in the last two weeks. Bitcoin ATM operators probably had to pre-order machines quite a while ago, so it is more a thorough calculation based on expected transaction volumes and potential growth. But as bitcoin machines are installed in many places and by independent operators – this fact shows that running a bitcoin ATM is a profitable business.
According to our bitcoin ATM industry stats, there is a growing number of bitcoin ATM installations worldwide. If someone wants to run his own bitcoin ATM or install a bitcoin machine at existing local business, what are the main points to check and decisions to make beforehand? The following article tries to answer these questions.
With all developments in Bitcoin area over last couple of years one thing became more prominent — regulation. Bitcoin ATM business is not an exception. In many jurisdictions you need to get special licenses like MSB or others in order to conduct such a business. Running a bitcoin ATM without complying with law might end up bad. So the main point to start investigating in case you would like to run a bitcoin ATM — is the legal framework for such activities in your region. Continue reading →
We’ve launched a new functionality on our website of tracking bitcoin ATM locations – reports of any bitcoin ATM’s state as working or non-working. There were many complaints when someone did a long journey to bitcoin ATM just to find out that machine is not working or is simply not there anymore.
We update the site regularly as soon as we find or receive information about any changes, but sometimes this is not enough.
New functionality allows anyone to report any bitcoin ATM as active (working) or as non-working / removed by simply upvoting or downvoting a particular bitcoin machine and leaving a short feedback for reference.