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Bitcoin ATM Market Dynamics April 2021

The price of Bitcoin broke the all-time record again in April. At the beginning of the month, the value was $58.735 and it experienced a small fluctuation until mid-month when it reached the all-time high of $63.554. After that, it started to drop and it reached $53.584 at the end of April which is 8.8% lower than the price at the beginning of the month.

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

Period Start: 17662, Period End: 19205
Opened: 1680, Closed: 137, Net Growth: +1543(8.7%)

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How to Start a Bitcoin ATM Business – TheCoinBros Use Case

In the following video, you can hear Corey from TheCoinBros talking about everything you need to know if you want to start your own Bitcoin ATM business. He discusses AML & KYC policies, creating a legal team, which machines to use, banking, ideal locations, and what it takes to sell store owners on adding a machine to their shop.

TheCoinBros started in 2019 after Corey parted ways with his partner. He wanted to do things his way so he bought thecoinbros.com domain and registered the LLC in 2017 and sat on it for 2 years while he meticulously planned his strategy. At the very beginning in 2019 they had only 4 machines but quickly rose to 15 within a couple of months. Now they have close to 60 machines with plans to constantly expand. As Corey says, the Bitcoin ATM business is very unique, and it is one thing to have 2 machines but it’s a completely different animal when you start scaling up. So he will share some advice on how to start.

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Bitcoin ATM Market Dynamics March 2021

The price of Bitcoin Continued with the upward trend in March. The month started with a price of $45,114 and rose until it finally broke the 60k mark and got to $61,259 on 14th to set the highest price in history. March ended with $58,730 which is a price 30% higher than the one at the beginning of the month.

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

Period Start: 16157, Period End: 17591
Opened: 1649, Closed: 215, Net Growth: +1434 (8.9%)

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Starting a BTC ATM Business? Some Advice from Crypto Crow. Part 2.

In the second video of the Crypto Crow Bitcoin ATM Business series, you will find out more about banking, AML/KYC, Compliance, and FinCEN. Jason will also reveal some shady practices performed by Bitcoin ATM Operators which will trigger a discussion about business ethics.

The Hardware

After going through all of the options that we mentioned in the previous post, from General Bytes to Alibaba, he decided to buy the machines at BitAccess. The thing he liked the most is that they were very helpful from the start all the way up to the shipping of the machines.

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Bitcoin ATM Market Dynamics February 2021

At the beginning of February, the price of Bitcoin was $33,136. The price maintained the upward trend when it reached the highest value of all time at $57,488 on the 22nd. After that, it started to decrease and the month ended with a Bitcoin price at $46,156. We can notice that the price went up by 39% during the month.

The speed of bitcoin ATM installations maintained a stable rise between 7-8%.

Period Start: 14934, Period End: 16101
Opened: 1310, Closed: 143, Net Growth: +1167 (7.8%)

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How Crypto ATM Operators Ensure Compliance – Accounting

In the United States, the IRS views cryptocurrency as a property (for businesses) [1]. This means all cryptocurrency related transactions must be tracked and the capital gain/loss accounted for. To ensure compliance and to prepare for any potential audits, transaction records should be kept for 7 years as recommended by the IRS, this means safeguarding 7 years worth of cryptocurrency transaction records for operators [2].

Below are some common taxable events operators may encounter:

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Starting a BTC ATM Business? Some Advices from Crypto Crow. Part 1.

This video is the first of a series where you will hear Jason Appleton from Crypto Crow talk about his hands-on experience in starting a Bitcoin ATM business. The purpose of these videos is to educate you on the ups and downs and everything from machines, legal, compliance, marketing, and more.

At first, Jason contemplated on starting an exchange business but quickly dropped it after he found out that there are a lot of gray areas and he was not comfortable with that. So he decided to go with Bitcoin ATMs, as he thinks that you can get into the business with a relatively affordable investment and grow as you are comfortable.

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Bitcoin ATM Market Dynamics January 2021

A New Year started with a Bitcoin price set at $28,983 which increased in value for the next 10 days when it passed the 40k mark. Later on, it faced some fluctuations until the month ended with a Bitcoin price of $34,318. When compared to the price at the beginning of the year, we can see that an increase of 18.4% was recorded.

The speed of bitcoin ATM installations maintained a stable rise of 7%.

Period Start: 13779, Period End: 14743
Opened: 1127, Closed: 163, Net Growth: +964(7%)

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Bringing the Unbanked into the Financial World with Brandon Mintz

In this video, you will hear Brandon Mintz, the founder, and CEO of Bitcoin Depot, one of the first professional OTC crypto trading companies in the world. Bitcoin Depot is also the fastest-growing company and one of the household names in the Crypto ATM space. He will talk about how he got into crypto, how he started his company, and managed to scale it to one of the largest Bitcoin ATM companies in the world. He will also discuss how unbanked people are realizing the power of crypto.

The Beginning

Of course, Brandon started off with how he got into the whole idea of Crypto ATMs. He explained how back in 2013 he spent numerous hours trying to complete a transaction at Coinbase after which they just canceled the order when the price of Bitcoin went up. Later on, he discovered a suspicious looking site that offered to exchange Bitcoin for money after just 15 minutes. He decided to risk it, and it turned out legit. That gave him the idea to make crypto transfers easier for everyone else and help with the overall crypt adoption.

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Bitcoin ATM Market Dynamics December 2020

At the beginning of December, the price of Bitcoin was at $19,710 and continued to rise through the month. Finally, when the pandemic year ended the Bitcoin price was $28,857 which was a huge increase of 46.4% when compared to the price at the beginning of the month.

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

Period Start: 12569, Period End: 13676
Opened: 1308, Closed: 201, Net Growth: +1107(8.8%)

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