Buy Bitcoins at Bitcoin ATMs

Building Bitcoin ATMs with Moe Adham

In this interview, held in August 2019, you will hear Moe Adham from the Canadian Bitcoin powerhouse Bitaccess. He talked about Bitcoin ATM adoption, volume, and how they are at the front line of the Bitcoin industry.

Founding of Bitaccess

To start the interview, Moe talked about how he got interested in crypto somewhere at the beginning of the decade when he was a nanotechnology student in Switzerland. He used his knowledge in FPGA programming to start mining and fell in love with Bitcoin instantly. Shortly after he came back home to Canada so he can dedicate his time to learn as much as he can about Bitcoin, and in 2013 he founded Bitaccess and started manufacturing Bitcoin ATMs.

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Bitcoin ATM Market Dynamics November 2020

November started with a Bitcoin price of $13,810 and continued the rising trend from October. At the end of the month, the price went up to $18,192. So, when we compare the prices at the beginning and the end of November we can see that the price went up by 31.7%.

The speed of bitcoin ATM installations maintained a stable rise between 8% and 10%.

Period Start: 11492, Period End: 12510
Opened: 1118, Closed: 100, Net Growth: +1018 (8.9%)

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Interview – Bitcoin ATMs with Martijn Wismeijer

In this interview, you will hear Martijn Wismeijer who works at one of the biggest Bitcoin ATM manufacturers in the world General Bytes, talking about Bitcoin ATMs and some other interesting stuff related to crypto.

Link to the episode:

The beginning

Like most people, Martijn got into crypto accidentally, while he was looking for a job. He first got into mining and after he mined his first 50 coins he interestingly got rid of them because he thought that he will never get any use of them. This was a decision which he now deeply regrets. He got back into crypto when the price got up to $100 and at the time discovered the Bitcoin ATMs which he found useful. He immediately tried ordering ATMs from every company that he could find but had no luck since none of them would deliver. Not until the Bitcoin expo in 2014, when he met the founder of General Bytes, that he ordered his first 4 machines and started operating them in the Netherlands.

A couple of years later, his marketing suggestions to General Bytes are recognized and he was offered a job at the company. Since then the company experienced an exponential rise in numbers. They overcome the 1000 mark at the end of 2017, then surpassed the 3000 number nearing the end of 2019 and reached the 5000 until October 2020.

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Bitcoin ATM Market Dynamics October 2020

At the beginning of October, the price of Bitcoin was $10,778 and maintained the raising trend through most of the month until it reached a value of $13,565. When we compare the Bitcoin values at the beginning and the end of the month, we can notice that it has gone up by 25.6% in October.

The speed of bitcoin ATM installations was lower than previous month (8% vs. 10%).

Period Start: 10630, Period End: 11478
Opened: 1034, Closed: 186, Net Growth: +848 (7.9%)

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Blockchain Interviews – Adam O’Brien, CEO of Bitcoin Solutions

In this interview, Ashton Addison is speaking to Adam O’Brien, the CEO of Bitcoin Solutions, a Bitcoin ATM and service provider based in Canada. They will be discussing the adoption of Bitcoin across Canada, how the pandemic has affected Bitcoin markets, and the upcoming deal which will make Bitcoin Solutions the first Bitcoin ATM company to become a publicly-traded company with a listing on the TSXV stock exchange.

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Bitcoin ATM Market Dynamics September 2020

September started with a Bitcoin price at $11,660 and immediately dropped to $10,188 on the 4th. For the rest of the month, the price remained within the 10k range until it reached the $10,841 at the end of the month which is a 7% decrease when compared to the price at the beginning of the month.

The speed of bitcoin ATM installations increased compared to previous months (almost 10% vs. normally 5-6%).

Period Start: 9579, Period End: 10502
Opened: 1082, Closed: 159, Net Growth: + 923(9.6%)

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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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