Lets talk Bitcoin Atms, or some call them, crypto vending machines. My thought process is the ‘”Vending Machines'” are more for just buying crypto, and ‘Bitcoin Atms’ dispense actually money. It would dispense what ever currency they use, or accept in that country or region.
I have gone around to all the Bitcoin Atm machines in Oregon, tried them out, talked to other customers, checked average customer rate, asked what people purchased and how they got in crypto even.. People probably think I was some crazy person ha. Seen flaws tho.. And if I can help spread great machines around. That’d be Awesome!! Because I have to use them too.
Also been paying attention to how these Vending Machines have been popping up around the world.. They’ve been spreading like wildfires. Basically if people want to accept Bitcoin as a payment, and spend Bitcoin. Then we Need more places to purchase and exchange crypto..
My experience has been, the machines at some of the kiosks have operated a little less then the standards I would like.. don’t want to say bad things about them.
Anyways, let’s talk about the good points on the Bitcoin vending machines that I did like!! Cause that’s what’s really important!!. This is where some will say see, I knew this site was gonna sell us some stuff haha. But these are all just options and opinions..
For my #1 pick of Bitcoin Atm Machines, I’m pretty stoked with the company who is supplying them.. Lamassu These are the best Bitcoin Atm and Bitcoin Vending Machines I’ve seen so far.. With an excellent reputation for a reason. They have the most accurate and up to date software.. When you purchase a machine, All the Fees go to you, meaning you keep what ever percentage you charge for transaction fees, the company doesn’t take any cut!!
Wow that is Amazing to even just start off with. They have a very quick responding support team as well, if you do run into a situation, or need help getting started.. They offer free support for the first month, then a $100 each additional month if you continue to want to keep the service.. But I think it’s worth it to pay, to have a educated staff assisting and helping you.
Everything is private and only you have access to your wallets from the machine. That’s a nice piece of mind.. The Douro also caught my eye, because of the compact size and portability.. It doesn’t take up to much room, and easy to move around.. At first site!! I thought they looked classy, and well built.!!
One of things I want to point out about the size, and portability of the Douro is. If you want to just use it as a Bitcoin Vending Machine, put it on a table or a small stand.. You can! well they actually do offer a separate stand if you need, called the Braga. It’s not just any stand, I should also add. Has a steel tube interior structure in the center. Which that bolts to the Douro, then also you anchor the Braga to the ground for maximum security. Give that two thumbs up for thinking ahead.
So next, gotta jump ahead for sec, might as well cause we are talking about stands and bases. The Santo Tirso is another add on option, it’s what makes it into the actual full on, cash dispensing, Bitcoin Atm machine, a removable base.. Who else has that feature??. The Douro can be run with or with out it.. to be clear if you want it to dispense money tho, then you need the Santo Tirso. skipping around here a bit, but just want everyone to understand.. the Douro by itself is a vending machine, where you can purchase crypto.. if you want a bitcoin atm, then you need this feature.. The removable base is one of the other things that caught my eye immediately. If ya check around online, or where ever, some of the other machines I seen, you probably need a pallet jack to move them anywhere. haha no joke tho. they were Big.. These weigh about 49kg, around 108 pounds, could fit in the front seat of your car.. Take it with you while vending at a festival. You can because, it also has an option to hook up to Wifi..
Even tho I just talked a lot about these Atm’s, I feel like haven’t even scratched the surface of all the features they offer
Because when we talk about regulations, and passing what ever inspection your state requires. You can smile and show them the Bill Validator, to help make sure no funny money gets in there. And the ID check feature if you must have, it’s already built in!! Actually want to talk about regulations for a sec cause again we are on the subject.
So for regulations, each state has a different policy.. Check the links posted below to get some of the correct paper work, for Oregon regulations. I assume most places you will need a Money Transmitter license, over time anyways.. So start doing research ahead of schedule, have all your ducks in a row. To run a Bitcoin Atm in the United States, things are pretty regulated these days, but just follow some of the rules and go about it the correct way. My first suggestion is, have a lawyer go over the paper work with you. Laws are funny sometimes, paying someone that is educated in that field, goes a long ways sometimes.
- Here’s some links to help with your research, for getting a Money Transmitter permit in Oregon and around the U.S..
- Oregon Gov:
http://dfr.oregon.gov/business/financial-industry/Pages/money-trans.aspxMoney Transmitter Law Oregon:
Intro On The Business:
Another site that I like visiting, to see how the Bitcoin Atms are moving around the world, and find locations is coinatmradar.com. Every time I check the numbers, they seem like they doubled. Really interesting to watch the growth rate. And with this link you can check and watch too.. They have all sorts of free services, like lists of Operators, Producers, Locations, Charts and more.
Bitcoin Atm Charts:
Also it’s good to check the site to see what other Operators, mite be charging on transaction fees and such. Or if you are purchasing crypto at the machines, you can shop around and find the best rates.