Tag Archives: tutorial

Bitcoin ATM settings for hot wallets and exchange integrations

In the previous article we covered exchange and counterparty risks of operating a bitcoin ATM and two general ways to do it: sell bitcoins from your hot wallet, or do mirror deals via bitcoin exchange.

In this post we look at what system settings are supported by main bitcoin ATM providers, namely: Lamassu, General Bytes and Bitaccess. Other large supplier of bitcoin ATMs — Genesis Coin was reached but didn’t provide details about their setup options.

Lamassu

lamassu

Lamassu bitcoin ATM has an open source code. This allowed different developers to take the code and build software upon it. E.g. Dash implementation is done by external party, Ethereum was also implemented by external party first and later on Lamassu added their own version of ETH official support.

Based on information provided by Neal Conner (Customer Service Manager) Lamassu bitcoin machines support the following settings currently:

Continue reading

How to find a bitcoin ATM

The following tutorial shows how to find a bitcoin ATM near you. It was done for the old site design, but functionally not much has been changed since redesign and bitcoin ATM map still can be found on the main page.

After watching this video you will know:

  • How to find a bitcoin ATM in your city
  • How to check current price and fees of the machines
  • How to find limits of operations
  • How to find the best offer in your area

To make the process even easier, we’ve added a separate page for searching a bitcoin ATM nearby your location.

***

To find a nearest bitcoin ATM to you visit our map.
To get the latest data on bitcoin machines follow us on twitter @CoinATMRadar.

How to use a printed paper wallet from a bitcoin ATM receipt

If you read this post you probably have already purchased bitcoins from a bitcoin ATM and instead of using your own previously created wallet address you let the machine generate one for you. If you are still planning to buy bitcoins from a bitcoin ATM you might want to use our bitcoin ATM map to find a location or check our tutorial on how to buy bitcoins from bitcoin ATM.

Not all bitcoin machines support generating and printing of address on receipts, many don’t even support printing receipts at all. So here is a list of known bitcoin ATM types, which can generate and print a paper wallet for you:

All Genesis Coin ATMs (Genesi1, Satoshi1, Satoshi2) can do this:

Genesis1 Bitcoin ATMSatoshi1 Bitcoin ATMSatoshi2 Bitcoin ATM

Also General Bytes two-way BATMThree model (one way BATMTwo doesn’t support it), BitAccess machines and BitXatm bitcoin ATM can generated and print receipt with bitcoin wallet address:

Continue reading

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

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

Regulation

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. Continue reading

Check and report bitcoin ATM status

We’ve launched a new functionality on our website of tracking bitcoin ATM locations – reports of any bitcoin ATM’s state as working or non-working. There were many complaints when someone did a long journey to bitcoin ATM just to find out that machine is not working or is simply not there anymore.

We update the site regularly as soon as we find or receive information about any changes, but sometimes this is not enough.

New functionality allows anyone to report any bitcoin ATM as active (working) or as non-working / removed by simply upvoting or downvoting a particular bitcoin machine and leaving a short feedback for reference.

Since launch the functionality have already been used by several users, e.g. somebody reported bitcoin ATM in Bucharest, Romania as working:

Bitcoin ATM Romania working

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.

Continue reading

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.

How to buy bitcoins with Bitcoin ATM

You may be also interested in the instructions how to sell bitcoins using ATM.

In order to buy bitcoins using a bitcoin ATM you need to find the closest to you location and understand what kind of machine it is. To find all locations – visit our bitcoin machines map. At the moment there are about 30 different types of bitcoin ATMs with about 20 manufacturers having their units actually installed somewhere. It may be difficult for an average user to understand how to buy bitcoins by using a bitcoin ATM and what are the differences among various ATMs.

Buy Bitcoins Using ATM

In this article we describe a bitcoin purchase process for 6 different mostly installed bitcoin ATMs in the world (they cover about 90% of the market altogether) and two more types, which were popular before and now are rarely used (Skyhook and Robocoin):

General

There is a general buy process at a bitcoin ATM:

  • Verification step (optional and may vary substantially depending on machine’s type)
  • Provide bitcoin address for deposit (optionally can be generated and printed/emailed at some ATMs on the fly, but better to have your own with you before using a machine)
  • Insert cash into the ATM
  • Confirm operation (bitcoins sent to your bitcoin address at this moment)

This process may vary from ATM to ATM, and this is what we describe for every of the mentioned above bitcoin ATM types.  It is important to understand that even when machine’s software/hardware support compliance procedures, they are not necessarily activated, as it depends on the operator of every particular machine. That is why the same type of machine might have different verifications and limits set up.

Continue reading