Tag Archives: Bitcoin ATM

Bitcoin Depot ATM

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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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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Making Bitcoin More Accessible with Daniel Polotsky of CoinFlip ATM

In this interview held in April 2020, you will see Lea talking with Daniel from CoinFlip ATM. Some of the stuff they will be talking about will be about how they run their business, what sets them apart from other companies, what are their plans for the future, how the global pandemic affected the crypto market, and much more.

Talking about the CoinFlip ATM business Daniel shared that they currently are at about 550 ATM’s and are trying to push 20 ATM’s per week so they can try to end the year at over a thousand, and hopefully continue that trend so they can end the next year at 2500 or 3000.

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Bitcoin Basics: How do Bitcoin ATMs work?

In this podcast published in March 2020, you will hear Gordon and Faris from CoinCompass answering questions on how bitcoin ATMs actually work.

The concept of this podcast is for people to send their questions related to Bitcoin ATMs for Gordon and Faris to answer. It’s not going to be too much technical or too much economic detail but simply the basics of Bitcoin – those questions you thought were too silly to ask but actually are not.

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CASH INTO CRYPTO – Bitcoin ATM’s and The Coin Bros

In this video, you will see the first part (out of two) of the interview with Cory from CoinBros. In this part, he will talk about the CoinBros as a company and explain how Bitcoin ATMs work.

After telling a story on how he started to gain interest in Bitcoin while he was a paramedic and finally started a Bitcoin ATM business in 2017, Cory was asked to explain how is cryptocurrency stored in the machine.

He explains that you can link the ATM directly to the exchange via API or you can use the cold storage wallet. Linking directly to an exchange is less risky because you buy or sell crypto live and that way you cannot become a victim of volatility. On the other hand, by storing the crypto in the wallet you can lose a lot of money if the price keeps going down like in 2018, or you can earn much more in an opposite scenario.

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How Instacoin built a network of close to 100 Bitcoin ATMs in Canada

In this episode of the “Nick and Jimmy” show, you will hear Maria and Michael from Instacoin talking about how they got into the Crypto ATM business and how they got to operating more than 100 Bitcoin ATMs all over Canada.

The first Michael was asked was if the cryptocurrency will take over the fiat currency. In his opinion that is the actual goal of cryptocurrency, adding that it is currently gaining more and more popularity even though it is fairly young (only 10 years). He thinks that crypto presents a great alternative to a fiat currency because it’s much faster to buy stuff online or if you want to do remittances it’s a lot cheaper. The most important thing is that it is not centralized, which means that there is no middleman who’s taking astronomic fees.

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The Value of Bitcoin ATMs by Brandon Mintz from Bitcoin Depot

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.

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Bitcoin ATM Market Dynamics April 2018

After experiencing the downfall in March, this April Bitcoin prices went in a different direction. They started to rise steadily from the beginning of the month, starting at $6,794 and peaking at $9,556 on 24.  April ended with a value of $9,260, which comes to a 36% rise since beginning of the month.

Bitcoin Price April 2018, source: blockchain.info

Accompanying the upward price trajectory was the growth in the number of new machines.

Period Start: 2667, Period End: 2878
Opened: 250, Closed: 39, Net Growth: +211(+7.9%)

Unlike the prices that fluctuate since the year started, the number of new machines continues to follow a steady increase. That trend continues in April.

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Experience of running bitcoin ATMs by Gil Valentine from Athena Bitcoin

The following video from Chicago meetup in beginning of 2017. Gil Valentine, one of the founders of Athena Bitcoin, gives a presentation about their experience of running bitcoin ATM business.

At the moment of presentation (March 2017) Athena Bitcoin runs machines in 7 different states and 12 metro areas.

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How to choose bitcoin wallet and buy your first bitcoins

This article is for all newcomers to cryptocurrency field. At Coin ATM Radar we receive many requests to register account in order to start using bitcoins and bitcoin ATMs in particular. In order to buy and start using bitcoins, you don’t need to register with any service provider. We will cover the main options how to start using cryptocurrencies, and especially Bitcoin — the most popular cryptocoin as of today.

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Wallet

The first thing you need to do is choosing where to store your bitcoins, when you buy or receive them. There are two main options:

  • Store with third-party service provider
  • Store on your own in local wallet

You can store them with any of online wallets or exchanges (e.g. Coinbase, Kraken etc), in this case you trust these services, while they fully control access to your bitcoins, so generally you trust them that they will send bitcoins to you or to someone you will want to pay in the future, if you ask them to do so. This is no different from traditional banking, when you don’t control your money, rather banks do and promise you that they will execute your order to pay in the future.

However, the great thing about Bitcoin is that it allows you to fully control your funds without any intermediary and this is done with wallets installed locally on your device, be it mobile phone or computer.

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