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.
In the following video from the Bitcoin meetup held on 1 May 2017 in Zurich, Zach & Josh Harvey, Co-Founders of Lamassu talk about their company, why they started a Bitcoin business and what it’s like.
Lamassu Inc. is one of the first bitcoin ATM producers and oldest Bitcoin companies still operating today. Their Bitcoin machines are among the most popular (top 3 manufacturer list), with almost 400 machines deployed all over the world.
In the following video from TabConf held in January 2018, Brandon Mintz, the president of Bitcoin Depot, talks about the value of bitcoin ATMs during Bitcoin’s mainstream adoption.
Bitcoin Depot is an operator that works with Genesis Coin, and at the moment of this conference, they had 104 machines installed. As he says, there was a rise in demand for a more physical feel when having cryptocurrency transactions that are more similar to cash ATMs and provides people with a trust factor.