First step is to ask yourself a few questions about the location where you are going to place a bitcoin ATM: Do you have customers interested in a bitcoin ATM location nearest you?
Do you have at least 150 or more people traffic a day?
If your answers are positive, so you are ready for the next step - to choose a bitcoin ATM that will allow you to make profit with little or no effort.
There is a wide range of bitcoin ATM suppliers available on the market. If you intend to buy a bitcoin ATM, it is very complicated to choose a bitcoin ATM that will suit all your requirements. The principal advice whenever you choose a bitcoin ATM – look at the providers, who have at least one or even better several locations with bitcoin machines installed and running. Be careful, as in numerous businesses in Bitcoin industry, there are many unfair suppliers trying to involve new comers or the very risky people into various scam schemes.
Technical characteristics of a BTM
BITCOVAULT company has more than 100 bitcoin ATMs installed and has earned the reputation of a reliable and responsible supplier. BITCOVAULT’s specialists present bitcoin ATMs and software, allowing to organize the purchase and sale of cryptocurrencies, as well as the organization of cryptocurrency pawnshops. BITCOVAULT’s recommendations: when choosing a supplier, to pay attention, whether its terminals are equipped with the following components and have the following features:
- User-friendly interface
- Innovativeness and reliability
- Super fast transactions
- Up to 2500 bills capacity
- HD Camera
- Touch Screen Monitor
- Battery back-up
- Magnetic Card Reader
- Fingerprint Scanner
- Cash dispensing
- Cash recycling
Choosing a terminal in this package (e.g. as BITCOVAULT proposes) or the similar one, you will ensure reliable and full-fledged operation of your business, give customers access to the maximum set of services and make the transaction process as safe and secure as possible, thereby facilitating the subsequent loyalty of customers and increasing the profits of your business.
BTM’s software
When thinking about how to choose a bitcoin ATM, you should notice that besides the terminals’ physical characteristics, it is worth paying attention to what is inside the machine. COVAULT company is the US-famous as a producer of a great software instrument that facilitates transactions for customers, analyze statistics reports, generate leads and combine all BITCOVAULT’s software products into one system.
The main advantages of the BITCOVAULT software are:
- Support multiple currencies (Bitcoin, Ethereum, Litecoin, Dash, Ripple, etc) for buying/selling, for pledge in a cryptopawnshop. The ability to quickly integrate new currencies.
- Support multiple cryptocurrency exchanges and Hot Wallet systems.
- The powerful identification system for AML compliance.
- Integration with various scoring systems to check customer’s information.
- The reporting system, included data on the profitability of bitcoin ATM points, cost-effectiveness, volatility of the course, data on selected customers.
- The powerful system for online monitoring of bitcoin ATM's work in the back office, demonstrating the technical condition of devices and financial indicator.
- Automated SMS sending to technical personnel in the event of problems with bitcoin ATM devices (bill acceptor, printer, dispenser, etc.)
- The customizable dashboard system with various KPI for top-managers, compliance officers, technical staff.
- Unique, modern, intuitive interface for the end customer.
- Multilingual capability and support of any currency both for acceptance and for withdrawals.
- Extensive customization options available upon request.
- Back-end is adapted for computers, tablets and smartphones. You can monitor your business online 24/7 from anywhere.
BITCOVAULT’s specialists are always ready to customize the unique solutions under development to specific requirements depending on the region or country, as they have high competence in the development of highly loaded, scalable solutions in the areas of blockchain technologies and digital wallet systems.
Best bitcoin ATM machine
One of the fastest growing spheres of business in the world. A transparent scheme of income generation and full control over the business. The high-tech innovations. All these characterize such a dynamic industry on the fintech market as a bitcoin atm business.
A bitcoin machine allows clients to buy and sell bitcoins for cash. The first publicly available bitcoin terminal was opened on October 29, 2013, in the coffee shop in downtown Vancouver, Canada. Today, just four years later, there are more than 8 million Google search results for “Bitcoin atm near me’’. Cryptocurrency machine is probably a bit more expensive than online crypto exchange transactions as the infrastructure cost is higher – i.e. building an actual atm and the steps that are actually needed to transfer the money and bitcoins. Nevertheless it has lots of advantages such as familiarity, usability, speed, tangibility, privacy, liquidity.
The number of cryptocurrency machines installed around the world increased more than twice for the last year. There were about 1171 bitcoin terminals installed on May 1st, 2017 and now the total quantity of bitcoin machines exceeds 2900.
There are many different bitcoin atm providers on the market. If you plan to operate a bitcoin terminal, it is a hard choice which one to purchase. But one of the companies has firmly won leadership positions in the cryptocurrency business due to its innovative technologies, reliable hardware, responsible customer support, own manufacturing, full cycle solutions, easy-to-use interface and impeccable reputation. BITCOVAULT exists on the market of bitcoin atms for almost 1 year. The main office is in Brooklyn, New York. BITCOVAULT specializes in best bitcoin atm machine manufacturing and proprietary intelligence software development. BITCOVAULT produces reliable and innovative bitcoin terminals with capacity up to 2500 bills equipped with basic devices for necessary regulatory compliance: HD camera, QR code scanner and also an eye appealing 17’ intuitive touch screen monitor.
Types of bitcoin atm
When choosing the best bitcoin atm machine, you should consider that there are two varieties of atms, depending on the operations they allow for: one-way or two-way transactions. A one-way bitcoin atm is an internet machine that allows a person only to buy bitcoin with cash. Using a two-way bitcoin machine (or a bi-directional bitcoin terminal) customers can buy bitcoin with cash and exchange bitcoin back into cash. All these transactions are executed in the shortest time, taking less than a minute.
Around 65% of the crypto terminals worldwide only support the depositing of fiat money into the wallet and buying bitcoins. The other 35% are two-way crypto terminals. The future will see atms that support bank-like features, like providing users with different types of accounts – savings, deposits and payments.
In relation to price, these categories are different as follows: a one-way bitcoin atm is a more affordable model, e.g. BITCOVAULT offers this kind of terminal per $6299. The model is called X - “Simply Sweet” and is an universal model that is suitable for installation in any location.
A two-way bitcoin atm is a more complicated machine, so the prices vary from $7499 to $8299. Even the model with cash recycler helping to reduce cash management costs is available. COVAULT recommends to install these bitcoin atms in places with good security and protection.
Do not rush your choice
The mass spreading of bitcoin empowered numerous technically knowledgeable business people to invest in new types of software and hardware and many cryptocurrency atms spread across the world confirm that trend. Bitcoin terminal business is a great opportunity to create and manage your own business via 24/7/365 kiosks systems.
It is not that easy to choose the best bitcoin machine. Our recommendations are the following: take your choice a sufficient amount of time, pay attention to reviews about the company, its reputation, social network accounts, ask the sales manager all questions of interest and evaluate carefully which machine suits you best in terms of quality-price-features.
Find the best offer of bitcoin ATMs for your business here bitcovault.com