Bitcoin Price Index (24H)

What currency can I use?

Almost any of the world’s currency is supported. Before shipping you are to configure the currency type on each machine, which can be updated anytime later. Only one currency type is supported by each machine at a time.

How many languages are supported?

Basically all languages are supported. If you can’t find your language you can use a handy translation tool that we have, which will make it possible to translate the UI into any language in about 15 minutes.

Can I get documentations before a purchase?

Yes, you can request the purchase agreement and we’ll send it to you.

Where are the machines delivered from?

We ship our machines from Poland.

Does the price include VAT?

The machine price doesn’t include VAT. We don’t charged VAT for the companies with a valid EU VATIN. If your company is located in EU and you don’t have a valid EU VATIN, then we will have to charge 23% VAT.

What is the delivery method?

We do the packing very carefully, with the usage of high-quality packaging materials and reinforcement of heavy duty wooden crates. We offer multiple shipping services, however you can use your own courier’s services. Ex-factory pickup is provided in Poland.

What payment terms do you provide?

Pre-order requires the 50% of the payment; the rest is to be paid before shipping. Bitcoin and wire transfers are accepted. Pre-orders can’t be refunded.

What HS code should I use for customs?

HS 8476.89.90 – “Automatic goods-vending machines (for example, postage stamp, cigarette, food or beverage machines), including money-changing machines.”

Does machine or shipping price cover all customs and duties?

No, it doesn’t. Customers are fully responsible for customs and duties in the destination country.

What stands for federal and state compliance in the United States?

We don’t have a clear policy on compliance requirements yet. We highly recommend you to formulate your own with an attorney or compliance firm.

Is money transmitter license required in each US state for operating Bitcoin ATMs?

Not every US state requires one. For example, Texas and New Hampshire have proclaimed that the license is not required if no third party is involved. Which means the operator can sell directly to the end-user without involving any other parties, i.e. exchanges or agents. It’s recommended to contact any state you are interested in for question and inquiring.

How can I verify my ID?

he user should scan the PDF417 barcode on the back of the license, containing their name and address. The data then goes forward to IdentityMind (where the operators have an account) and a pass/fail message is almost immediately returned to the machine. There is no other method of identity confirmation for such level of compliance rather than the use of the license, which is though limited to several times a day.

Can limit transaction limits for ID verification be customized?

For now you can either on or off the function, but we are planning to include customized options in the nearest future.

Can I disable ID verification?

Yes, and actually ID verification is disabled on defaults. If the operator needs this function, we’ll help them to set it up on their machines immediately.

What other capabilities does it have besides the DL scan for AML/KYC?

We are going to implement registered phone number verification via IdentityMind option in the future, as well as Jumio identification, because they can accept many different ID forms.

Are you taking a cut from each Bitcoin transaction?

No, not at all, and actually we can’t. It’s impossible for us to see the transaction going through your machine. It’s our decision to preserve privacy to our network machines. You are the only owner of the hardware with the open source software.

What fee should I pay?

The flat fee is $100 per month for technical support, software upgrades and access our future services platform. Support is free-of-charge during the first month of a new machine, and payment can be suspended for inactive machines.

The fee is just $90 per machine if you own five or more units. And if you have ten or more machines the fee is just $80 per unit.

Who is supplier of Bitcoin float for the machines?

You, as the operator, have full control over your Bitcoind wallet.

What float is considered to be a daily norm?

It will on traffic and your convenience only.

How may the risk of volatility be minimized?

You need to use our exchange trading options on your back-end. After each bitcoin purchase at the machine, the back-end will convert the same amount from fiat to bitcoin in your exchange account, preserving the current value.

Is the back-end server is the same one that we operate or do you provide a cloud service for back-end?
What environment does the server need?

The back-end office is software installed on the operator’s server. There is a quick installation guide for Digital Ocean provided by us, although some operators could have also run it on an Amazon instance. Any Ubuntu system version 14.04 is able to install the back-end easily.

What functions does the back-end provide?

The following functions are provided on the back-end: wallet configuration, price sourcing, auto-trading on exchanges, language setting, currency setting, commission setting, transaction logging, debugging, compliance, and secure client/server pairing. The above options are available either via GUI, or via command line.

Which sources are supported for the Bitcoin price?

Currently Bitcoin Average, BitStamp, BitPay, Coinfloor, Coindesk, Coinbase, Coinapult are supported, and there are many more to come.

Is operation performed by the machine on a wallet stored at the device level, or it uses a cloud wallet, or does it work both ways?

If you choose the bitcoin option the wallet will be stored on the server. Other options include BitGo’s multi-sig wallet, Coinapult, or a Blockchain.info wallet (less secure option due to necessity to disable 2FA).

How wallet replenishment is supported?

Wallet replenishment is done manually for the reasons of security. If your back-end server would happen to be compromised, the violator would have access not only to bitcoins but to all cash reserves on your account. We consider only secure ways to enable replenishment.

Which exchanges do you support?

Modules have been created for the following exchanges: Bitstamp, Conbase Exhcnge, Coinapult, Coinfloor itBit.

Which wallets do you support?

Modules have been created for the following wallets:

BitGo, Bitcoind, Coinapult, Blockchain.info, GreenAddress.

How can I make money from operating BTMs?

You will need approximately 4-5 transactions per day of the average $200 per transaction to profit from the machine. The first few months may be slower have traffic pick up as it takes time for customers to get used to the machine and start relying on it.

Once you get the average $20,000 per month of transaction (5,5% is the average commission rate), the cost of the machine should be covered in 7-9 months.

Which locations are considered the best?

The top machines make volumes north of $300,000 per month, although other locations are dealing with over $70,000 per month. $20,000 average is on the rise, and if we had access to machines data, we could provide you more specific statistics. The only thing we can tell for sure, the numbers are going up quite quickly.

Are BTMs scalable?

Yes, they are quite scalable. Some people consider operating BTMs their primary business. Other people consider it as their additional income.

Are commissions determined to be mine to keep?

You have full control over your commission, and therefore it’s yours to keep. Your profit is realized in dispensing less bitcoins than you would if your commissions were set to 0%, and that’s why it’s retained in the form of additional cash held within the machine’s vault or a surplus of bitcoin in the machine’s wallet (you need to view it).

What are the best locations?

According to our operators the best location is the one situated in a high foot-traffic area. For example, train stations, easily accessible places, trendy stores in the most popular neighborhoods, etc. Remember your favorite places in the city, the easiest to reach several times a month.

Experience will give you the insight. You’ll get to know the reference goal and will be able to move weaker performing machines to better locations.

Will you provide help with promotion?

We have a guide for suggestions on gaining publicity from the launch, and if you need some advice on your press release, you are always welcome. We’ll also share the news on social media.

Is there ability to use cash collection services?

We don’t have contracts signed with any of them, although some of our operators have contracts with cash collection agencies. There is the only requirement coming up, which consists in the need for an electronic audit lock, and we have already begun researching this issue.

What security features are provided by the machines?

The machines possess two Abloy Protec2 locks: one for the 2.5mm steel enclosure, and another one for the 6mm Swedish Hardox steel vault. The machine is supposed to be bolted to a secure surface, and it’s delivered together with 8mm munting plate and five massive M12 bolts. Properly secured machine is as theft-proof as a standard ATM, or even safer.

How can I connect the machine to the network?

There are two options: Ethernet or Wi-Fi, although wired connection is highly preferred. For wireless we recommend using a dedicated connection such as a 4G hotspot.

Is the machine listed in CE or UL? Are there any other safety certifications that the machine has?

The machine is CE listed (self-tested), all components comply with UL and/or CE.

What needs to be involved to customize the exterior appearance of the unit?

Powder coating in different colors can be added as an option for larger orders. It should be a RAL color. Logos cut from vinyl is another option. Graphics should be supplied.

Can QR codes on a paper and on a mobile phone be scanned?

Yes, they can.

What bandwidth does the machine have?

The bandwidth is very low, and it’s basically used for transactions and pings. Another thing that takes up bandwidth are updates that we deliver, which can exceed 10mb.

Can software customization services be provided when we need them?

Although we don’t provide custom software services, our software is open source, which means that we can provide your developers with advice at any time. Changing the client (machine) software is not recommended either. We highly recommend all software development to remain open source as well.

How are zero-confirmation transactions handled for cash-out machines?

The operator defines zero-confirmation payout limits. Every time the limit is exceeded or transaction doesn’t pass basic tests (Chain.com powered), the user would have to confirm a phone number. When transaction is confirmed, the user gets a text message with redeem code.

What happens with the machine when a transaction drops in case of network failure?

If the local connection drops during a transaction, the back-end will automatically send the balance of the bills inserted, and the remainder (if any) will be sent just after the machine regains connection. The user will see the “We got this” screen.

How secure is it?

Your back-end and private keys are fully under your control. We can’t see or access your machine’s wallet or settings, because the system is decentralized. We have an emphasis on security during setup and there are resources that will help you to maintain a high degree of security for your machine and wallet.

What does your support include?

Our team is persistent when it comes to solving a problem. We use industrial parts and problems with hardware are quite rare, but even if they happen we are quick to react and deliver replacements via courier at our own expense. Our support has never failed our operators.

What technical support does the 12 month warranty cover?

If there is a hardware failure during the first 12 months, we will either fix or replace the broken hardware, and also provide some guidance. When the warranty period is over we will have to charge for spare parts.

What support/repair services do you provide regarding hardware support?

We provide troubleshooting and delivery of replacements components when necessary. All parts can be easily replaced without any professional help.

What technical capabilities are necessary for installation, configuring, and support of the machines?

All you need is basic computer skills. There are tons of video tutorials available for you in order to show you the whole process. Knowledge of the basic Linux command might serve some help.

By what means can I get support?

The support is provided by email and live chat sessions.

How can I get updates?

We provide updates remotely to the machine image from our server. We will be able to do it only after your permission. The back-end can be updated by a quick update script.