Bitcoin Depot ATM

How to start a bitcoin ATM 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.

Start a business


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.

If you are in U.S. — the following article will give a good introduction to federal and state regulation of bitcoin ATM business in US. Legal framework really depends on your location, so consult with a local lawyer first.

While running a bitcoin ATM on your own might require a lot of investment in legal field, e.g. creating your KYC/AML compliance policy, obtaining proper legal licenses, there is still a cheaper way — find existing bitcoin ATM operator in your area, approach and suggest a collaboration, so that you work under their legal licenses umbrella. In order to find operators around you — check our bitcoin machine locations map, for majority of listings operator information is provided.

Bank relationships

In order to operate a bitcoin ATM you need to have a bank account. There were some ideas to build an “unbanked” bitcoin ATM, however, it is more of a nice to have solution, but not practical nowadays (there are some bitcoin machines with bill recyclers, but no special software available which will dynamically define the buy/sell prices based on cash/bitcoin balances, also local demand is limited, and bitcoin ATM has a very small user-base compared to online services accessible everywhere, which might result in wrong price discovery at particular machine).

By having a buy only bitcoin machine — you definitely will need to organize cash delivery to the bank, and make wire transfers from bank account to exchange in order to replenish bitcoin balance. The reality is that not many banks wish to have customers related to any “bitcoin business”. So it is good to check available options in advance and the best practice to have several relationships to eliminate the potential risk of closing account by one bank. As an example, the bitcoin ATM operator in New Zealand had to close his business due to lack support from bank sector, although the company was compliant with all legal requirements.


If you are the owner of a brick-n-mortar business — this is not a question to consider as you probably would like to place it at your location. Placing a bitcoin ATM might increase foot-traffic to your store and this is additional revenue stream for the shop. According to information from other owners who installed a bitcoin ATM, it can increase sales up to 10-30% because of new customers, who come to use a bitcoin ATM.

If you are a local business owner who wants to have a bitcoin ATM, but don’t want to have all the hassle with running a machine — you can also approach operators close to you and suggest your location. From private discussions with operators — it is always hard to find a good bitcoin-friendly location, so highly probable you can find someone who will put a bitcoin ATM in your store.

However, if you plan to run a bitcoin ATM yourself, you need to find a good location for it. Important factors to consider are: traffic volume, availability/accessibility (easy way to find, public location), proximity to transport connection, good parking facility, open hours (the longer the better), business type.

Here is the list of top 5 bitcoin ATM location types according to the stats we collect on the site:

  • Restaurant/pizzeria 12%
  • Cafe/coffee shop/gelateria – 9%
  • BTC embassy / company office – 7%
  • Shopping mall – 7%
  • Supermarket / food store / Deli – 6%

So all are mostly high-traffic businesses, where people go daily.

Bitcoin ATM type

The next question is which bitcoin ATM type to chose. There are broad categories like one-way or two-way, for example. So if you would like not only to allow customers to buy bitcoins, but also sell bitcoins then you need to look for a more expensive two-way solutions. According to the number of installations worldwide — 42% of all bitcoin machines are two-way, and 58% are one-way only.

According to information from operators, there is not an even split between buy and sell operations at the moment with pure dominance of buy operations (90% buy vs. 10% sell on average). However, during huge price swings, e.g. recent one in October 2015, the user behavior might change a lot. Many operators reported fall in volume of buy bitcoin operations, and sell operations increased drastically (making volume ratio of about 50/50). So not to lose opportunities on the volatile market it is better to provide both options, however, in “normal” times just a one-way bitcoin ATM can provide a steady income as well. We are still in the “enter bitcoin” phase for average customer.

Here is a list of top bitcoin ATM providers on the market at the moment, which can be recommend. All of the providers have a long tracked positive history on the market:

  • Genesis Coin — provides one-way solution Satoshi1 for $6.8K and a two-way Satoshi2 machine for $2.1K on top of one-way price. There is also old Genesis1 for $14.5K.
  • General Bytes — provides a one-way bitcoin ATM called BATMTwo for 2849 USD and two-way bitcoin ATM BATMThreeL (basic version) for $7K. There are several different variations of BATMThree models family depending on hardware you choose.
  • Lamassu — provides one-way solution Douro ($6.5K), additionally Santo Tirso stand can be purchased to make it two-way for $5.5K making the total cost of two-way Lamassu solution of $12K.
  • BitAccess — provides a two-way bitcoin ATM machine for $7K

Price-wise the cheapest are General Bytes for one-way solution and BitAccess for two-way machine. However, the features may vary and it is really required to look at all options to choose a proper one that will fit your needs.

UPD 2018-02-10

Since beginning of 2017 and due to quite toxic scaling debate, which resulted in lower Bitcoin market dominance rates, many operators add altcoins support on their machines. For example at the moment (Feb 2018) 44% of all machines apart from Bitcoin also support at least one altcoin. If you plan to support altcoins buy / sell operations — it is important to choose manufacturer who provides a support for altcoin of your choice.

Volume and Fee size

In order to start new business one needs to do profitability calculation in advance and have at least rough business plan. CoinATMRadar provides a Bitcoin ATM profitability calculator by using which you can easily define approximate costs and calculate ROI with detailed report.

There are two blog posts avaialble with more advanced info: theoretical profitability calculations and real examples of how much volume do bitcoin ATMs bring to operators at different locations.

The following are average metrics on the market (based on discussion with operators):

  • In order to reach planned volume it takes about 6 months with marketing and advertising of a location. So it is very important to keep machine at the same location. [Edit: based on infromation from operators the standard location volume is usually reached faster — 1-2 months from installation, for details read the article on Revenue, costs and profitability of a bitcoin ATM]
  • Average normal monthly volume of a bitcoin ATM is about $30K. It may vary, but this figure is quite realistic in our opinion, which can be used as a basis for forecasts starting month 6.
  • Average bitcoin ATM fees are now at 5.5% for sell operations and 7.5% for buy operations. Please keep in mind that these fees are biased to the extent that they are calculated based on information from operators who decide to report fees. Normally, those who charge on the high end — don’t report. We’ve seen the fees in the range of 15-25% becoming widely used, especially during periods of high demand (e.g. May 2017 or December 2017).

So to set it up probably some average values can be used initially. In order to attract users operators might suggest lower rates, sometimes even 0% commission. In this case you need to find a way to buy cheap bitcoins, e.g. directly from miners with discount.

Proper customer support services

When you run a bitcoin ATM it is very important to provide best services to customers. Operator has to monitor whether machine is operational and bitcoin funds are in place etc. Negative publicity spreads pretty quickly.

Both email and phone should be provided on the machine. We recommend to make it available also on our site’s listing.

Recently implemented bitcoin ATM voting functionality allows to track customers’ feedback. As an operator you can place a printed QR with link to your machine listing on our site (check link on bitcoin ATM page) in order to gather more reviews and monitor status of the machine closely.

These are the main questions one needs to investigate and answer before running a bitcoin ATM. If you have something we missed — please write in comments and we will update the article.

Check our twitter account @CoinATMRadar for more updates on bitcoin ATM topic.

179 thoughts on “How to start a bitcoin ATM business

    1. Hi Chad, thanks for your question. It depends on many factors. I sent you a follow up email with further questions, then I can advise you better on what fits you the most.

          1. I have the same question as Chad, how much capital should I have available if I wanted to start setting up multiple atms through out my county

          1. Hi can you send me the info for ATM biz on how to kick start Bitcoin ATM distribution in Denmark?

      1. Hi there I am from Canada and i talked to one Restaurant owner and he is really interested in installing one Bitcoin ATM. Can you please send me which atm machines is good as for canada i see 3 or 4 types of ATM so far. Please guide us how to start this ATM business Thanks in advance.

      2. Hi,
        I would like to know the startup cost?
        Possible you can send me full details, please
        full details?
        Really interested in setting up few ATM’s in my area

      3. I would like info on the start up fees and costs. And if possible any regulation or permits that have to be acquired to get into the business

      4. Can I have that list of questions sent to me as well? I’m in Canada so I’m having a hard time getting information.

      5. Hi, I would like to get a better handle on legal/anti money laundering regulation compliance coasts in California. Also, do you have a consultant you might recommend?

      6. Por favor enviarme informacion de como adquirir un cajero atm de bitcoin, costo e instalacion. Para ponerlo en mi comunidad,

      1. Hi Deepa,

        I think the easiest for you is to find an operator, who’d like to place one of their machines at your location. Just look around, who operates in your area and approach them.

        I think Instacoin has many machines there, so they might want to install one more at your place.

    1. Hi Pao, thanks for your question.

      Start-up costs varies heavily and depend on many factors, mostly how bitcoin ATM business is regulated in your country and whether you are able to establish bank relationships.

      Also it depends on what kind of machine you plan to use costs for machine purchase vary from $3-8K. There are many activities / payments to be done during the process of running a machine, like renting a place, cash collection services, of course if you do it yourself and put machine at your store – there are no costs for this.

      You can find a Bitcoin ATM profitability calculator useful.

  1. This is interesting. I just used one of these out of town.

    My question is concerning the profit potential, both current and future growth. Are there any sources with data relating to these statistics? Not just number of new ATM’s but more specific to average revenue per machine. Thanks

    1. Here is a list of ATM locations with some monthly volumes reported.

      Generally you can take $20-30K as a volume per month from a machine for estimations after a half year of operation. From discussion with operators this is a realistic figure nowadays. Recent rise of bitcoin price – brought some additional volume.

      Also if you have a great location and properly promoted it – volume can be higher.

      Profit is a subjective thing as it depends on many factors. Just to name several: your fees size, how you organize stuff, e.g. take care of cashing out machine yourself or hire someone, do you pay to location owner, or place it at your own location, legal fees might vary depend on country significantly, as well as within the same country, e.g. different states in the U.S. etc.

      Bitcoin ATM business is not an easy one as there is no huge margin and competition present already and it is not a way to make a quick buck, but if you have an interest in it and opportunity to start you bitcoin machine and potentially a network of ATM later on – definitely worth a try. Check this blog, will publish some useful figures soon.

      UPDATE: Here is an article on bitcoin ATM profits figures.

  2. Hi,

    Would like to have an idea if an ATM machine can be set to calculate on any other currency from dollars?.

    Can it work in africa?.

    1. Hi Amuda,

      Depends on the country in Africa and machine type. E.g. there is already an operational bitcoin machine in South Africa, which accepts ZAR cash notes (South African Rand) and dispenses bitcoins. So you need to approach different manufacturers and ask about whether they support particular cash notes you want to have. But it is highly probable that there is a machine type that will support your needed currency.

    1. Hi Ryan, this is a very broad question and answer depends on so many different factors.

      I plan to write an article on the costs estimations for running a bitcoin ATM, so check the blog periodically.

      Meanwhile, you can contact me by email and will try to help you for your particular case (

      UPD: Here is a post about Revenue and costs of running a bitcoin ATM.

  3. REALLY have difficulty getting answers concerning regulations in NC about bitcoin atm operation. Any GOOD links you could provide would be greatly appreciated.

    1. Hi Chris,

      First of all I’m not a lawyer and don’t take what I write here as a legal advice. You need to consult with a lawyer before entering this space. I can put you in contact with ones specializing in the industry.

      Generally as a bitcoin ATM operator you need to register with FinCEN on federal level (which is quite an easy process). Moreover, you need to check state level legislation.

      As some states have marked that bitcoin ATM businesses are exempt from money transmitter license, I don’t know it is the case with NC.

      What I found is:

      More interesting FAQ section here:

      Q: Are virtual currency exchangers and administrators regulated under the NC MTA?

      A: It depends. A virtual currency exchanger is a person that exchanges virtual currency for fiat currency or other virtual currencies, and vice versa. An exchanger that sells its own stock of virtual currency is generally not considered a virtual currency transmitter under the NC MTA. In contrast, an exchanger that holds customer funds while arranging a satisfactory buy/sell order with a third party, and transmits virtual currency and fiat currency between buyer and seller, will typically be considered a virtual currency transmitter.

      So it looks like it depends on how you operate your bitcoin ATM. If you set it and can prove that customer who feeds cash into machine receives bitcoin from your hot wallet – then you are exempt from this license. But again you need to consult with knowledgeable agent.

  4. I am having difficulty getting two separate attorneys in the Denver area to reply to my emails, voicemails, etc. I am interested in getting legal advice as I consider getting into the bitcoin ATM business. I’d rather piggy back on someone in the industry, currently, but know nobody doing so personally.

    I saw in an earlier post that you might be able to assist in making a connection with an attorney. Not sure if you are familiar with Denver area but any assistance would be appreciated.

    Thanks in advance,

    1. Hi Joe, you need to do the same as in other countries. General steps are provided in the post you are commenting to. If you have any particular questions — feel free to ask here or by email.

    1. Hi Suley,

      Just as a side note, it is not the first bitcoin ATM in Turkey, there was one back in early days of bitcoin ATM industry (I think back in 2013) installed at one of airports

      The company planned to install many others, but plans didn’t realize and this machine was removed, or bitcoin purchase option was removed.

      Anyway, if you want to start operating a bitcoin ATM you need to think about several steps in advance, they are summarized in the article above, but here is a short version for you:

      – Legal aspect: you need to understand what legal requirements applies to you, how you need to register and what licenses you need to obtain prior to operating bitcoin machines.

      – Money flow plan: you need to think how you are going to convert received cash from customers to BTC and vice versa in case of 2-way machine. In case you want to have a bank account and wire funds to exchange – then you need to find a bank first. Alternatively you might find some direct cash to BTC ways if you are unbanked. But in any case – you need to have this organized beforehand.

      – Location where you plan to install machine, it is good to have agreement before you get your machine. Sometimes it is not easy to find a good location.

      – Actual purchasing of machine, installation, supplying liquidity and starting the business. This is the simplest part probably. Costs of different machines you can find on our site (check manufacturers page or contacting particular providers.

      Hope to see bitcoin ATMs in Turkey soon 🙂

  5. Hello.
    There is a desire to put your unit in Russia. Have someone with you contacted on this issue? Maybe there are representatives here?

    1. Hi Alexey,

      There is no such thing as “your unit” as this site lists locations of different ATMs, we don’t supply machines.

      This is great you want to put a machine in Russia, I think there was a Lamassu moved from place to place before, but due to at that time negative promises of regulation I think it was closed/sold.

      So to start I would advise you to look at different bitcoin ATM providers on the market. And choose what best fits your needs and affordable price.

      Also this page is a good summary of articles for someone starting bitcoin ATM business.

      Feel free to ask further questions you have, here in comments or by email. Will try to help.

  6. Hello, I would like to setup ATM Machine in Borneo. Please kindly assist me how, what are the requirement, and how do I be the operator for it.

    1. Hi Mo,

      You need to follow the same process as in other countries:
      * Legal: Find out about regulatory position on bitcoin ATMs in your country, and how you want to fit into that legal framework, getting all permissions if needed
      * Funding: you need to plan a fully closed cycle of your funds flow, it is mostly about planning how you are going to convert cash from bitcoin ATM back into bitcoins liquidity in order to provide services for further customers
      * Rest: this should be relatively easy — find a place where to put machine, purchase ATM, get it delivered, installed and set up and start operating.

      The following article might be helpful on understanding what are the revenue and costs of running a bitcoin ATM.

  7. First of all amazing article,

    I have a question want to install +- 10 general bytes atm in our country in Argentina and Uruguay,we will install them in all different places, with all differents ip (obiusly), so my question is about the control server. Can i enter the server without being on the same ip of one of th machines (for example i am in point A can i acces a machine i point B) ? And how the server is seted up? I mean there is like a cloud for this?


    1. Ji.
      I’m from GENERAL BYTES.
      Each ATM operator can have his own ATM server.
      One or more ATMs can be connected to ATM server.
      Server can be located anywhere on the Internet.
      ATMs connect to server via HTTPS.
      For more information contact GENERAL BYTES via their web page.

      1. hello karel,

        how the GB machine communicate with server, does they provide there own software to control all the peripirals(Bar code reader, Dispenser, Biometric devices) attached to the ATM, or if we can develop software of our own?

  8. Who supplies the bitcoin for the machines? Do operators typically hold a stockpile of coins and sell them through the machine? Or do the machines broker the transactions from a larger exchange?

    1. Hi Chris

      > Who supplies the bitcoin for the machines?

      Every operator needs to find a source for bitcoins in exchange for cash (localbitcoins, exchange, BTC liquidity provider, etc).

      > Do operators typically hold a stockpile of coins and sell them through the machine? Or do the machines broker the transactions from a larger exchange?

      Normally a combination of both. Check for more details

  9. Hi. Do you know the regulations for California? I would like to put an ATM in the Los Angeles area? Where would I find this info?

  10. I an intersted in becoming an operator in new york city however do to many opsticals of banks and rules i wonder if you know any operators that willing let me work under their name

    1. I was trying to get their contacts, but of no luck. So the only alternative for you is to physically visit the place and try to find it out locally. Sorry could not help on this.

  11. Hi, I live in Michigan and am wondering if you know if I need a Money Transmitters License to operate a Bitcoin atm in my shop? I am having a hard time getting an answer from the State directly. Thank you for your time.


    1. Sent email. In case you have a regular business where you want to place a bitcoin machine, I advise you to find an operator who will put it there, while they should have all legal aspects of this business covered.

  12. say I’m interested in buying a machine (one way) here in Canada, how do I make profit? Do I take the cash and deposit it to my account and then how do I pay the operator and what percentage? And if I’m the operator ( of 1 machine) then who do I pay and how?

    1. Hi Katrina,

      If you are representing a business and want to have a machine placed there you have two options:
      – find an operator who will place machine at your location. In this case you will get compensated by this operator, e.g. in the form of monthly rent or revenue sharing, whatever you two agree upon.

      – buy and run machine on your own. In this case you charge extra fee customers on top of spot rate, you collect cash and then convert it to BTC to close cycle and top up the machine’s address balance.

      For more details, read articles here:

  13. I am very interested in setting up a few BitCoin ATM’s in my untapped market. Can you please send me the details.

  14. I would like to put an ATM in Los Angeles, CA. Can you tell me about any regulations? I know that the BitLicense what shelved last year in California, but that is all i know. Thx

    1. Same as in any other place. The very article you comment for covers exactly the main aspects of this business you need to pay attention when you start.
      Let me know if you have any particular questions.

  15. Hi, thank you for such important information. I have 2 questions.
    1) in west palm beach Fl, when it may be the cost of the ATM if I have the place to install it, I want to buy it.
    2) you have knowledge in Latin America that place is easier to install.

    1. Hi Carlos

      1) If you run local business and want to have a machine at your place — I think the best way is to approach existing operators, who would like to install at your location. Sure you can run yourself, but if it is not planned as main business — might be too much to do, e.g. recommend you to start with researching the legal aspect of running bitcoin ATM in FL.
      2) Not sure what you mean by “easier”..

  16. I own a store I want to put a machine inside my store I don’t want to put out of pocket money I just want to make money by letting who ever puts the machine in my store I’m from new York city my store is in the Bronx near Lehman college can someone help me please my email is my name is Adam

  17. I have many retail contacts that would like the bitcoin ATM but they don;t want to buy it or manage so I will.

    Please tell me how much it is to buy 4 ATM machines.

    I have read the operating costs.

    1. Hallo Maria, at the moment there is only one machine listed in Paraguay

      This is an old type of machine (compact Skyhook, which is not sold anymore), and it might be that it was removed from there, but just not reported by anyone as removed.

      If you want to operate machine on your own, you can find a lot of articles here to start:

      Feel free to ask in comments or contact directly (email or contact form) if you have further questions.

  18. I am interested in possibly getting an ATM in NM. it seems there were 2 here before and could use your knowledge in setting it up again, thx, NM

    1. Actually, there were three locations in ABQ in the past. However, two locations had same machine, just moved from one place to another. So you are right, there were 2 machines before. There is no special knowledge about NM, you need to follow general procedure described here:

      I advise you to consult on legal status of bitcoin machines in your state before proceeding with ordering machines and organizing anything. Given that there are 0 machines in the state at the moment, either legal requirements are too restrictive to enter, or public demand might be low (which might change with recent price moves). Otherwise, large network operators would have installed many machines there already.

  19. Hey Chris,
    Looking to do the same in the San Diego area. Did you come across any federal or state level roadblocks?


  20. Do you have any information on the regulation landscape in Canada? Also, do you know if there are ATMs that service other / all crypto currencies?

    Finally, in terms of security and risks, how do operators secure themselves against counterfeit or other fraud?

    1. Not much can tell about regulation in Canada.

      General Bytes and Genesis Coin support several altcoins by default. Lamassu has ETH integrated as option and also DASH was assigning dev to integrate DASH support as well, don’t remember whether they finally did it.
      Bitcoin D.A.V.E. machine has integration with ShapeShift in their software, so literally can sell many alts while requiring liquidity funds from operator to be kept in Bitcoin only.

      Regarding counterfeit banknotes, many machine use high-standard bill acceptors that will catch fake bills, however, varies from producer to producer, so you need to check what hardware is there and read reviews for CAD notes processing I assume in your case.

  21. Hi,
    I own a store I want to put a machine inside my store I don’t want to put out of pocket money I just want to make money by letting who ever puts the machine in my store my store is in the whitby(on) canada can someone help me please my email is.

  22. I am located in Adelaide, South Australia (where there are currently no BTC ATMs) and am interested in setting up a viable number here.
    Can you please email me privately the contact details of BTC ATM operators in Sydney, Melbourne and Perth so that I can contact them in this regard.
    Thanks in anticipation of your timely reply.

  23. Hello I live in mexico i want to set a bitcoin atm. Can you help me telling me how to buy it? And all the details Thank you fpr your tume

  24. Hi,

    What exactly are the legal issues or processes that are needed to operate a bitcoin machine in a state of America? What kind of lawyer would I need to consult to get things going?


  25. Hello can you please send me any information you know about restrictions in the state of Hawaii I am interested in purchasing 3 ATMs I also would like information on how the information flows the machine to me so therefore I may purchase the Bitcoin in a timely manner and not lose money due to the volatility. Does themachine have the capability of being wired to the internet and transmitting me an email message to State win Bitcoins have been purchased so I may fill the order or how does this exactly work.

  26. Good Afternoon CoinATMRad,

    Would you be kind send me more info (if you have any) on bitcoin ATM in Toronto Business, Canada. Start up cost, licensing, any info you have.

    Thank you very much.

  27. Hi, it appears that the links to Atlanta bitcoin’s articles on bitcoin regulation are no longer working, they may have removed the articles – ??? Any other suggestions for understanding digital currency ATM regulations in various countries, states, municipalities? Thank you, great site!

  28. Hi,

    Please, could you explain me follow situation >
    When I finish all necessary law procedures and I decide to buy ATM bitcoin machine (for example Lamassu manufacturer) and install it on my site – who will do transaction processing ? Will we need to connect to some provider or an application on ATM machine will automatic connect “somewhere” without provider? I asked that because I have experiences with standard ATM machine – where it has to connect to a provider for transaction processing.

    1. Depends on how you supply liquidity. Usually each ATM supports connection to exchange (you will need to provide API-key that you will receive from exchange).
      Then you send fiat funds to exchangem, and have some BTC liquidity in your wallet. Whenever purchase happens, buyer receives BTC from your wallet, at the same time a deal is triggered on exchange for purchase BTC and then they automatically replenish balance of your BTC wallet.

      Read here for more details:

  29. Hi I´m from El Salvador in Central America, would you help me with some info so i can travel and buy the ATM by myself, ´cause Bitcoin here in my country is getting popular.

  30. Hi,
    I’d like to know and if it is possible to receive info on fees, returns and cost to start up an bitcoin ATM in Italy.
    thank you.

  31. Hello so I am confused as to the operation of the atm. Is it like a traditional atm where I fund it and the cash withdrawn is my money I put in- where as I would put in $10,000 worth of bitcoin in an atm so whatever my customers are buying it comes from my $10,000 in bitcoin or is it connected to a bigger network and I just collect the transaction fees? Please enlighten, thanks

    1. Customers purchasing bitcoins buy it from you, so you need to freeze liquidity, which is periodically topped up by you taking cash and converting it to crytpocurrency again.

      You can set machines as selling directly from your wallet, or you can have fiat liquidity on exchange and parametrize to get it converted to cryptocurrency when transaction happens.

      You can read in more details here:

  32. Hello, I would like to start with a Bitcoin ATM machine in the South West Area of England. Could you please send me more info about cost, conditions, etc.?

  33. Hi everyone,
    I am a young Irish entrepreneur currently researching the possible upsides to starting a Bitcoin ATM network which will be capable of satisfying the entirety of Bitcoin dispensary needs in this country. In doing this I seem to come back to the same question; are ATM’s themselves an outdated mechanism/device in a time where our cell phones are becoming more and more powerful and if this is true how can we capitalise on this matter through new innovation. I currently have some ideas in the works but would love to hear more opinions on the matter.

  34. hey,

    I have a series of questions and would like to get in contact with some one who could talk to over the call and one of the main questions what if i want to open an atm machine in east africa ? so i would like to refer to someone who can help me setup an atm in east africa.

  35. Hi I’m interested in started a bitcoin atm could you please let me know the start up cost and requirements for it. Thanks

  36. Is prepurchasing Bitcoin necessary for running the BTMs? It seems that would expose the operator exposed to the volatility of Bitcoin prices. Is there an interface that will purchase directly from an online exchange for each transaction at the market rate? I would then mark up the rate to include a modest profit for me the operator. That would negate the need to purchase large sums of BTC outright to maintain the float.
    Linking in realtime with Coinbase or Gemini for example would be much easier than having to purchase $100,000 or more in BTC every month and it would also allow access to other crypto currencies such as Ethereum and LTC.

  37. I live in Soldotna Alaska, USA. And I am wondering what starting costs would be to set up a BTC ATM here in Alaska? Also, is there any operators that would want to put one up here and have someone manage it? Currently I do not think there is any BTC ATM’s in all of Alaska.

  38. Hi

    I would like to host a BTC ATM at few of my business’s. I do not want to operate. Just get a flat fee or commission on volume. I am located in Chattanooga TN. Do you have a comprehensive list of ATM operators in our area or US, that i can contact to get the best deal. Spoke to a few and am getting $100 per month or $0.65 per transaction. What are your thoughts about that amount. Is it fair? have you seen or know of any operators providing a higher amount. Any help would be appreciated.


    1. Hi Vic

      I can’t comment on the amounts, as those depend on many factors, what kind of locations you have, traffic size, open hours, proximity to transport communication etc.
      At the same time I would say that objectively amounts you mentioned are relatively low. Regarding operators — just check listings around your location and contact those operators, e.g. there are many bitcoin machines in Atlanta, although it is a different state, and different licensing requirements might needed in TN. There are two machines in Nashville, operated by large operators. You can approach them.

  39. Hi, I have convenience store in Canada and want to have bitcoin ATM installed in my shop. Is it possible? How can I have it? Where should I contact and how much will it cost me? Thanks

  40. Hi everyone,
    Let me, just say first, I appreciate your help and advices. I need some advice because in my country, Romania, I couldn’t find any legal frame:

    I want to place an ATM for buying and selling bitcoin in Bucharest . What authorizations are needed and from where exactly? I will purchase the device itself on my name, although I own a company. Can the device be managed by an individual who declare the commission income ? or…
    Is PFA viable? or is it necessary to register the ATM machine on a company name with financial CAEN to administer the ATM?
    Thank you.

  41. Has anybody tips on how to get a bank account? In the Netherlands it seems to be impossible although we think we have an good AML policy.

    1. Hi Jos,

      Unfortunately, we don’t possess information about getting bank in Netherlands.
      According to operators from other countries, having good AML policy doesn’t guarantee getting bank relationships.

  42. Are there any two-way digital currency ATMs that also still function as a standard ATM, in addition to buying and selling digital currencies?

    1. Hi Nick, normally bitcoin ATMs are totally new developed and dedicated hardware devices for transacting with cryptocurrency, not supporting traditional banking.

      There are particular cases when traditional bank ATM networks were used for concurrency buying / selling, but it is rather that those traditional ATMs have supported some extra services which were utilized by cryptocurrency companies.
      For example check:

      So the answer to your question is probably no, as far as I know.

  43. Hi.
    You speak of commission fees of 5.5 – 7 % and even 15 – 25 %.
    That is awesome!
    In the Philippines I saw rates of 0.2 – 1 %
    but I must say that their profit rates seem very low in general

  44. Hello

    Can you send me the manufacturers of who to contact in order to start a BTC ATM Business?

    Also, can you send me a list of the startup cost and revenue and fees on how to get a BTC machine?

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