Want to buy a Bitcoin ATM? Genesis1 and Satoshi1 Bitcoin ATM review

There are about 30 different Bitcoin ATM providers on the market. As the Bitcoin ATM market grows pretty fast the new players come onto the stage very often. With all this diversity it becomes quite hard to choose a Bitcoin ATM when you plan to start a Bitcoin ATM business.

In the series of articles we will cover different Bitcoin ATM types, their characteristics, advantages and weak points. This post is about Bitcoin ATMs produced by the San Diego based company Genesis Coin.

The company provided initially one product to the market – two-way Bitcoin machine called Genesis1. Recently, the one-way machine Satoshi1 was presented. The working unit is installed in Nanaimo, Canada.

Genesis1 Bitcoin ATM

This is a solid Bitcoin ATM similar to the traditional bank ATMs. Genesis1 type of ATM is installed at 16 locations at the moment worldwide.

Genesis1 Bitcoin ATM
Genesis1 Bitcoin ATM

Hardware

The main characteristics of the hardware:

  • Cash dispensing cassette with a 1,700 note capacity
  • 2,200 note cash acceptance magazine (MEI SCN83XL)
  • Dedicated barcode scanner
  • EMV-enabled card reader
  • Uninterruptible Power Supply (UPS)
  • Thermal Receipt Printer

Optional:

  • Fingerprint scanner
  • Bulk note cash feeder to accept up to 46 notes at once
  • 1-3 additional cash cassettes to hold more cash and/or dispense additional denominations (up to 6,800 notes can be held in the dispensing system, assuming 4 cassettes)

Obviously, the machine is a two-way, so it can be used for buying and selling bitcoins or other crypto currencies. This video shows how fast an optional cash acceptance Bulk Note Feeder may be. It has 46 note capacity load at once, but adds $2,000 to the cost. Works really fast.

Multi crypto currencies support

What differentiates this producer from many others is support for the biggest number of crypto currencies. At the moment the following crypto currency operations can be conducted at this ATM:

  • Bitcoin
  • Litecoin
  • Dogecoin
  • Blackcoin
  • XCurrency

White-label solution

The ATM software supports customization of the screen. So whenever you receive your Bitcoin ATM – you can parametrize it according to your branding. This is an example of how the main home screen may look like:

Genesis1 white label
Genesis1 white label

Other characteristics

The machine allows supplying liquidity through exchange or wallet. The backoffice supports integration with main Bitcoin exchanges. For withdrawal operations – instant withdrawals may be set up under particular threshold. The notification may be set up in case of hardware issues or low liquidity.

The software of the ATM is provided with life-time free updates.

Price

The two-way Genesis1 ATM with default configuration costs $14,500 including shipping (but excluding VAT or any other import duties). The close competitor Robocoin costs $15,000 in a minimum setup.

Satoshi1 Bitcoin ATM

To cover the market needs the company has recently announced the launch of a one-way only Bitcoin ATM. This ATM is much cheaper and is limited only to buy bitcoin operations.

Satoshi1 Bitcoin ATM
Satoshi1 Bitcoin ATM

Hardware

  • 2,200 note cash acceptance magazine (MEI SCN83XL)
  • Dedicated barcode scanner
  • Fingerprint scanner
  • Thermal Receipt Printer
  • EMV-enabled card reader
  • Uninterruptible Power Supply (UPS)

Software

The one-way Bitcoin machine is very similar to the elder brother, and allows both white-labeling and support of the mentioned crypto currencies.

Price

This ATM costs $5,800 with shipping costs included (but not VAT or other import duties).

Both Bitcoin machines come with 13 months guarantee.

Genesis Coin machines & platform excel most as bank-grade white-label solutions. There is no other product in the market that allows operators to completely customize the UI to fit their branding and business objectives, while giving operators access to hardware that is industry standard in the retail ATM & payment kiosk space.

Based on operators feedback – there is no hassle with delivery and installing Genesis Bitcoin ATMs. The machines are usually in stock, so the only time before you can launch a Bitcoin ATM business is basically delivery and set up, no manufacturing is required.

In case you are looking for further details you may use the Inquiry Form on the manufacturer page.

10 thoughts on “Want to buy a Bitcoin ATM? Genesis1 and Satoshi1 Bitcoin ATM review

  1. If I buy one of these an are able to implement them into a store. I know they charge 17% what percentage of that do I get to keep and what percentage of that do you take and on average how are the maintenance charges a year. Basically profit margin.

    1. 17% is not set in stone, you as an operator define this. You can set it at 5% or 25% as well. Regarding sharing Genesis Coin takes 1% of your volume, and for this they provide support and also run the server back-end software so that machine can operate properly. I will put you in contact with provider for further details.

      1. Hello,could I also have information? I’m interested in putting a 1way Bitcoin in my store. Thank you

  2. I want to buy one of this but I don’t want to operate it in the states, I want to take it out of the country. Is it possible and will it accept my country’s local currency ?

    1. Delivery is possible to other countries as well. However, I think delivery to North America are covered by the price of the unit, so it might cost extra.

      Regarding other currencies – will highly probably accept it as there is a top-notch cash acceptor. These machines are installed in many different countries and accept different types of banknotes in practice.

      I will put you in contact with manufacturer, if you’d like to get further details.

  3. Hello I’m interested in purchasing an amazing and I’m looking for detailed information is there someone I can contact

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