Starting a Bitcoin ATM Business (THE TRUTH)

Today is February 25th, 2023.   I am investigating investing in Bitcoin ATM’s.  I sincerely thing they will be common in the future.  I think the demand could explode in the next Bear Run.  

The only reason to build a business is to sell it.  At the time of this writing, Bitcoin is at $22, 954.08.  So if you had a route of 6 -12 Bitcoin ATM’s today, what would they be worth if Bitcoin hits it all time high of $69,000 during the next Bull run?

So I have been on a mission to become self-educated on the Bitcoin ATM business model.  It has been a chore.  The only thing I can find online are bias articles pitching specific ATM machines & videos from wanna-prenuers keyword stuffing their videos to get views.  99% are talking about the Bitcoin ATM business model, but have never actually bought or installed a Bitcoin ATM machine.

It is becoming more and more frustrating today to find people that have actually done, what they are talking about.  Many of you know, my number one rule when finding an entrepreneur mentor is

“Who is this person, and Why Should I be Listening to Them?”

Thankfully I have found one gentleman on YouTube who is also in the process of investigating this business model.  I will embed his videos below, but first let’s look at the history of bitcoin ATM machines.   The number of machines has grown from 1 to nearly 39,000 around the world.

Here is the orginal press release when the firt bitcon was placed in the USA.

Bitcoin ATM debuts in Silicon Valley in March of 2014

MOUNTAIN VIEW, California (KGO) — A new kind of ATM made its debut in Silicon Valley. Not only does it dispense cash, it allows people to buy or sell bitcoin.

The goal is to make bitcoin accessible to more people. As more of the ATMs are deployed, it will elevate the visibility of the currency.

“The first Robocoin machine was launched in Vancouver in October, and subsequently they’ve launched Austin, Boston, here in California, and they have sent 10 units overseas, so they are rapidly expanding,” Coinage President Cary Peters said.

Bitcoin’s value fluctuates based on supply and demand. Its price topped $1,000 in December, but is trading now at $458. It dropped over $100 when the IRS last week decided bitcoin users must pay taxes on appreciation when spent.

Marc Nickel, content manager at Bitlegal, says this will require users to keep better records. It may also lead to state sales taxes on bitcoin purchases.

Despite that, the deployment of ATMs has users hopeful that bitcoin use will grow.

“Right now there’s like 80,000 or so transactions a day,” bitcoin owner Matt Kresse said. “This could push it past a million or so. That just will make the whole economy grow.”

Chris Clark is the mayor of Mountain View, home to California’s first bitcoin ATM.

“Whether ultimately it’s successful in its current form or whether it’s another form, I think that the fact that people are now investing in and innovating in this area is really important,” he said. “That’s what really attracted me to it, and I wanted to be a part of it so that’s why I have a few bitcoins.”

As more users learn about them, additional bitcoin ATMs are expected to be installed in the near future.. You think?

9 years after the first Bitcoin ATM, there are now 38,804 globally

From one Candian coffee shop to a worldwide network of nearly 39,000, crypto ATMs have turned nine years old and are only expected to continue growing.

9 years after the first Bitcoin ATM, there are now 38,804 globally


On Oct. 29, 2013, a coffee shop in downtown Vancouver, Canada, opened what is understood to be the world’s first publicly available Bitcoin Opens in a new tab.

 ATM, operated by Robocoin. 

The crypto ATM saw 348 transactions and $100,000 transacted in its first week of operation.

As of Oct. 30, 2022 — nine years and one day on — Robocoin has ceased operations and the first crypto ATM has likely been removed or replaced, but crypto ATMs have continued to increase in number with 38,804 cryptocurrency ATMs in existence today, according to Coin ATM Radar.

The global hub for crypto ATMs has since moved, however, with the United States now housing nearly 88% of the world’s supply of crypto ATMs and taking credit for 90% of all newly installed ATMs over the past few months.

In October alone, 129 of the world’s newly installed ATMs were located in the United States out of a total of 205.

Canada, home to the first crypto ATM, has only seen that number creep to 566 after nine years, though it’s still placing in second at 6.6% of the total according to Coin ATM Radar data.

Meanwhile, Spain became the third-largest crypto ATM hub on Oct. 22 with its 0.6% share across 215 ATMs.

A July report from Research and Markets estimates the crypto ATM space is now valued at $46.4 million, which will grow more than 10 times to  $472 million by 2027, driven by remittances and increased crypto ATM installations.

However, like many crypto-related products, crypto ATM installations have been challenged this year as a result of the crypto bear market.

Crypto ATM installations slowed between January and May before a slight recovery between June and August, but September saw net crypto ATMs drop globally for the first time ever after 459 machines were removed from the global network.

Related: How Bitcoin ATMs in Greece fare during a record-breaking tourist season

Bitcoin is still the most popular cryptocurrency transacted across crypto-enabled ATMs, with nearly 100% supporting BTC transactions, per Coin ATM Radar. However, other cryptocurrencies also appear to be supported across the network.

Litecoin is popular, with almost 81% of ATMs supporting the crypto, and Ether Opens in a new tab.closely follows at almost 74%. Dogecoin sits in fourth place, with just under 40% supporting the so-called memecoin. This is one of the reasons I feel like having a little bit of DOGE in your crypto portfolio makes sense. Yes, it is a stupid
meme coin, but no who knows, in the future Doge may be accept for Elon’s trips into state.

In early October, U.S. authorities warned crypto ATMs were emerging as a popular method for scammers to receive value and defraud victims, most often in “pig butchering” scams where the attacker poses as a potential romantic partner, gaining trust and asking the victim to send them money or, in some cases, cryptocurrency.


Don't want to miss a post? Fill out the form below to be notified every time an article goes live:

Dale Calvert

Dale Calvert is a serial entreprenuer. He started his first business at age 14, a direct mail business out of his parents home. Dale has always believed that wealth is created in front of a trend. This business philosophy lead him into the cryptocurrency space in 2017, He made the decision in 2022, that the cryptocurrency space is where he will be spending the majority of his time.

Recent Posts