Tag Archives: bitcoin

How To Buy Bitcoins At ATM Directly To Hardware Wallet

Send Bitcoins from an ATM Directly to a Hardware Wallet

Bitcoin ATMs make buying bitcoins easy and fast. Bitcoins purchased from Bitcoin ATMs are delivered to the recipient in one of several ways:

  • a private key printed on receipt paper;
  • encrypted with user given password a private key is sent by email;
  • to a Bitcoin address provided by user and scanned at the machine before payment.

What if, however, you want to deliver your bitcoins directly to a bitcoin hardware wallet? Hardware wallets don’t have screens and require software to interact with the device. So how can you send bitcoins from an ATM directly to your hardware wallet?

Mobile HD Watch-only Wallets

Using a mobile wallet like Mycelium or Sentinel, you can import your hardware wallet HD seed onto your mobile device. This allows you to view your hardware wallet addresses and accept payments to your hardware wallet from your phone. There will be no need to even carry or bring the hardware wallet with you to the ATM. Continue reading

BATMThree bitcoin ATM from General Bytes

General Bytes has introduced a new bitcoin ATM BATMThree recently. This is a long expected two-way machine from this manufacturer, which will support buy and sell operations at the same time.

BATMThree bitcoin ATM

The software was developed before and provided to the operators of Robocoin kiosk as a replacement kit, so it was a matter of creating the hardware for the own product. The new machine has a very slick design with neon lightning, which will definitely attract attention of walking by people.

The bitcoin machine has a nice big touch screen, which looks much better than the screen of the previous models. Continue reading

Buy or Sell bitcoins for cash, bitcoin ATM alternatives

Bitcoin ATMs appeared first in 2013 and since then increased their presence in many countries around the world. At the moment there are 341 bitcoin ATM installed according to our bitcoin machines map.

Bitcoin ATM is one of the fastest ways to get into bitcoins and sell bitcoins for cash in case it supports two-way operations. But in parallel there are many more physical locations, where you can buy bitcoins for cash or sometimes sell. Those services are usually based on the existing infrastructure be it ATMs network, stores chain or agent offices. Here is a list of such services, usually every of them is targeting some geographical local market. Continue reading

How to sell bitcoins using Bitcoin ATM

In our previous article we described how you can buy bitcoins using Bitcoin ATM, in this post we describe the process of selling bitcoins via ATM.

How to sell bitcoins

What you need to know is that not all machines support two-way operations, many still only allow to buy bitcoins, however according to our Bitcoin ATM Charts about 40% of all installed Bitcoin ATMs actually support sell operations. In order to find your nearest bitcoin machine where you can sell bitcoins – you can visit our bitcoin ATM map. Use “Crypto->Fiat” ticked in the bottom filter to show all locations where you can sell bitcoins (you need to have “Fiat->Crypto” unchecked in order to hide locations where you can only buy bitcoins).

Here is a list of Bitcoin machine types that normally support sell operations (some operators may disable sell operations, so you need to check before planning your trip):

  • Robocoin
  • Genesis Coin (only Genesis1 and Satoshi2 machines, Satoshi1 ATM is one-way only)
  • BitAccess
  • General Bytes (only BATMThree model, BATMTwo is one-way machine)

Some other manufacturers also support sell operations in their machines, however the mentioned above represent the majority of installed units on the market.

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General Bytes Bitcoin ATM review

In the previous article we provided a review of Genesis Coin Bitcoin ATMs. In this post we review another bitcoin ATM more compact one from a Czech company General Bytes.

Overview

BATMTwo Bitcoin ATM

General Bytes ATM

  • One-Way Bitcoin ATM
  • Price 2849 USD, Free shipping
  • Sells coins from wallet or exchange
  • Point of Sale integrated
  • Remotely manageable and upgradable
  • Multilingual (English, Česky, Deutsch, Español, Français, Hrvatski, Italiano, Nederlands, Polski, Pусский, Slovenčina, 中国的)
  • Fiat Multicurrency (more than 120 including USD, EUR, etc)
  • Crypto Multicurrency (Bitcoin, Litecoin, Dogecoin)
  • AML/KYC integrated (Fingerprint or SMS)

Technical specification

  • Dimensions: 32x38x27 cm
  • Weight: 20 kg
  • Material: 2mm iron
  • Display: 7” projected capacitive
  • Mounting options: Designed to be mounted on wall (mounting screws and tools are included)
  • Internet connectivity: WiFi (b/g/n) + Ethernet 100Mbit
  • Cash box capacity: 500 bank notes
  • Security: Two high security standard locks. One for main doors, second for cashbox.
  • Warranty: 1 year

Buy Cryptocurrency Process

The process of purchasing cryptocurrency in this type of machines was described recently. It is important to note that the machine supports several cryptocurrencies – Bitcoin, Litecoin, Dogecoin – but also has an extensible API, which can be used to add any other cryptocurrency.

Another important feature of this machine is convenience for the users: the purchase may be done to existing wallet (you need to scan QR code), but also it can be purchased using email address only. In this case all the needed information will be sent to the user by email in encrypted form.

There is a convenience for the seller as well, while the machine supports both: sale from the wallet or sale from the exchange (means eliminate the volatility risk). Supported exchanges are: Bitstamp.net, Coinbase.com. Supported wallets are: Blockchain’s My Wallet, Bitcoind, Litecoind, Dogecoind, Block.io, Coinbase.com, Coinkite.com.

The following videos illustrate both processes:

POS functionality

General Bytes Bitcoin ATM by default supports POS functionality. That means if you install this machine in the shop, restaurant or any other business location, it can start accepting Bitcoin (or other cryptocurrencies) as a payment method without need to purchase any other hardware, software or integrating with any other third-party service.

The POS functionality is displayed in this video:

KYC/AML compliance features

The machine’s hardware and software supports the following ways of customer identification:

  • By SMS
  • Scan ID document
  • Fingerprint scan

Based on the provided identification – the transaction limits can be set up.

KYC/AML features are illustrated in the following video:

Remote management

Most of people don’t think about this when they are purchasing the machine, but they will realize that they need remote management when they start operating the machine. If they want to operate more than one machine, then remote management is absolute must.

Bitcoin ATM machine is not just about one time cost, maintenance costs are also very important. And remote management lowers maintenance costs dramatically.

Here are several use case scenarios what can be done with remote administration:

  • Is the machine online? Is it working? – You can check that on server administration web.
  • You can define the price settings flexibly without visiting the machine.
  • End customer has the problem with the machine, something went wrong.  He calls to support, you can check the status of his transaction on the server administration web (possible reasons: for example, Bitstamp connectivity problem, customer scanned different Bitcoin address than he thought that it scanned). You can even see which banknotes he inserted, how he navigated over the screens, etc.
  • You as an operator get sms or email notifications when: transaction occurred, machine is offline for more than an hour, when your exchange balance is low, when there is too much cash inside of the machine.
  • You upgrade the ATM software remotely from the server.

Price

This bitcoin ATM has a reasonably low price compared to other providers. A one-way BATMTwo machine costs $2849 with free shipping.

Another Bitcoin ATM with low price is Skyhook Bitcoin machine, which costs only $999. There is a trade-off between these two machines, while General Bytes is more feature rich out of the box, support many currencies by default, has POS integrated and more rich KYC/AML components. Also the unit itself is more solid and reminds more of the Lamassu machine.

Bank ATM vs. Bitcoin ATM – History Comparison

At the moment there about 240 Bitcoin ATMs worldwide. And this happened in less than a year. However, many people compare this to standard bank ATMs, mentioning there are more than 2 million available worldwide today.

Our answer would be: “Yes, and what?” How is it at all can be compared, when bank ATMs are there for more than 40 years now, and here we are talking about totally new concept of digital currency that appeared 5 years ago, and about Bitcoin ATMs that started appearing less than a year ago.

Being interested we decided to find some figures on the bank ATM installations and how they evolved initially.

Chemical Cash Machine
Chemical Cash Machine

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Bitcoin ATM Operations and Altcoins Support, First Blackcoin ATM

The network of Coin ATMs increases quite fast these days. There is no a single day when a new ATM does not appear on our Bitcoin ATM Map. Recently, the new information became available that Blackcoin is going to be supported in some of the ATMs. Thanks to the Bitcoin42 team (they operate two Bitcoin ATM in Tijuana, Mexico) and Genesis Coin producer this became possible. Recently it was announced that the newly launched Bitcoin ATM in Bochum will also support Blackcoin transactions.

ATMs with Litecoin and Dogecoin support

It looks like the Genesis1 Bitcoin ATM is the most cryptocurrency agnostic ATM as of today. Initially Litecoin and Dogecoin support also was coming from this manufacturer. The first such ATM was launched in Tijuana, Mexico. Actually there were two ATMs launched in the same BIT Center: one was supporting US Dollar operations and the other one – Mexican Peso. The machines allowed both buy and sell cryptocurrency options.

Bitcoin ATM in Mexico

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