Category Archives: Review

Bitcoin Depot ATM

Bitcoin ATM Questions 2020 Q&A with Adam from BC Systems

In this video, you will hear Adam from BC Systems responding to viewer questions. Below we listed some of the questions and answers for you, so you can check it out easily.

  • Can you do a video about approaching locations for your machines? Also how much money can you keep in your machines both the Bitcoin and cash?

Adam explained how first you will need to approach the business owner of the location, which can sometimes be tricky since they often aren’t available directly on the location. Especially if they own multiple stores. This is if you are doing the groundwork yourself and you don’t want any additional cost.

If you don’t have time to go around looking for locations, there are guys called the “Locators” whose job is to go to different locations and put your machine in various stores. They charge a small fee, usually around 150-300 dollars depending on the location.

As for the amount of money and Bitcoin kept in the machines, Adam explained that it really depends on how your machines are running. You need to monitor them every day to check on the number of transactions and decide the amount of Bitcoin to cover their needs. You also need to monitor the trends, because you definitely don’t want to buy too much Bitcoin when the price is going down, or fluctuating too much.

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General Bytes introduced a new bitcoin ATM model – BATMThree XXL+

Bitcoin ATM manufacturer GENERAL BYTES announced availability of their BATMThree XXL+ model.

The XXL+ is the latest model based on the GENERAL BYTES BATMThree Bitcoin ATM platform and as the name suggests its also currently the largest ATM in the BATM range of cryptocurrency ATM’s.

BATMThree XXL+ General bytes bitcoin ATM

What makes the XXL+ model special is the huge banknote capacity and the fact that it is specially equipped for servicing by armored money transport services, providing Bitcoin ATM operators with more freedom of choice in how to organize their day-to-day business.

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Bitcoin ATM settings for hot wallets and exchange integrations

In the previous article we covered exchange and counterparty risks of operating a bitcoin ATM and two general ways to do it: sell bitcoins from your hot wallet, or do mirror deals via bitcoin exchange.

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.

Lamassu

lamassu

Lamassu bitcoin ATM has an open source code. This allowed different developers to take the code and build software upon it. E.g. Dash implementation is done by external party, Ethereum was also implemented by external party first and later on Lamassu added their own version of ETH official support.

Based on information provided by Neal Conner (Customer Service Manager) Lamassu bitcoin machines support the following settings currently:

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Bitcoin ATM review: Satoshi2 model from Genesis Coin manufacturer

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
Genesis1 and Satoshi1 bitcoin ATM 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.

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