Author: Justin Gilmore

How to Use a Bitcoin ATM

Posted on by Justin Gilmore

As cryptocurrencies like bitcoin continue to grow in popularity as an alternative form of currency, more and more businesses are starting to accept bitcoin as a form of payment for their products and services. If you choose to accept this form of currency, you can even install a bitcoin ATM at your place of business, making it convenient for customers to pay by bitcoin or even enabling them to buy bitcoin as a courtesy.

Of course, bitcoin is a new concept in currency, and bitcoin ATMs operate differently than standard ATMs as a result. Before you install one in your business, you need to understand how to use it yourself — especially considering you may have to explain to your customers how it works. So let’s do a quick crash course on how to use a bitcoin ATM.

The Basic Concept of a Bitcoin ATM

Bitcoin ATMs run on a similar concept to conventional cash ATMs in that they are both exchange platforms. A conventional ATM gives you cash in exchange for initiating a withdrawal from your bank account. A bitcoin ATM lets you exchange physical currency for cryptocurrency using either cash or a credit/debit card. The process is different for each type of ATM, but understand that the basic concept is the same.

Your Bitcoin Wallet

The next thing to understand is how bitcoin is stored once you purchase it. When you use a cash ATM, the machine spits out cash that you presumably place in your wallet. In similar manner, when you buy bitcoin, that currency must also be stored in a “wallet” — in this case, a digital wallet. This digital wallet is identified by a QR code which most users store on their smartphone. (Remember, bitcoin is essentially data.)

The reason this is important is that when you use a bitcoin ATM, the machine needs to know where you plan to store the bitcoin. If you already have a digital wallet, it will ask to scan the QR code from your smartphone. If you don’t have a digital wallet yet, it can generate a new wallet for you, creating a new QR code for you to print out or scan.

Using the Bitcoin ATM

The specific process of buying bitcoin may be slightly different depending on the type of ATM machine you’re using — but the general steps to making a purchase are as follows:

  • You select “Buy.”
  • The machine asks to verify your identity in some fashion. (Quite often this happens by asking for your mobile phone number and texting you a verification code.
  • The machine prompts you for the QR code of your digital wallet. You can usually provide this by opening up the QR code on your smartphone and holding it up to the scanner. (Again, if you don’t have a digital wallet, the machine can generate a unique QR code for you.)
  • If the machine offers several types of cryptocurrency (other than bitcoin), it will ask you to select which type you which to buy.
  • You will be prompted to insert cash for the purchase (or in some cases, you can purchase using a debit or credit card).
  • You select “Send coin.”
  • The machine transfers the bitcoin to your digital wallet.
  • The machine provides confirmation of your purchase. This may be by printed receipt, asking you to scan the QR code from the screen, or both.

At this point, you can use the bitcoin in your digital wallet to make purchases with any company that accepts this form of currency.

Bitcoin is now being accepted by a growing number of businesses from boutique online stores to national fast food chains. If your business accepts bitcoin as a form of currency, installing a bitcoin ATM makes perfect sense because it makes it easy and convenient for your customers to obtain it — not to mention you receive a percentage of the exchange rate. To learn more about how a bitcoin ATM can help your company, call AtmMachines.com, LLC at 1-866-295-2329.

Why Marijuana Dispensaries Need Reliable ATMs

Posted on by Justin Gilmore

While cannabis has become legal for medicinal or recreational use in a growing number of states, the gap between federal and state law still creates a lot of complications for marijuana dispensary businesses, especially when it comes to processing payments. Many dispensaries bridge this gap by installing ATM machines on the premises, making it easier for customers to have access to cash. Let’s discuss why marijuana dispensaries need reliable ATMs to help keep their businesses running smoothly.

Dispensaries Have Limited “Cashless” Options

Regardless of changing attitudes about marijuana, and despite many states changing their own laws regarding cannabis, the federal government still classifies it as a Schedule 1 drug. This means it’s still technically a federal crime to use, possess or sell cannabis. While the federal government has chosen (for the moment) not to interfere with individual state laws on this matter, federally backed financial institutions like banks and credit card companies still can’t do business with dispensaries without running a risk of money laundering charges. For dispensary owners, this greatly restricts their ability to take checks or credit/debit cards from customers — which means that cash is king. A reliable ATM machine on site ensures customers always have access to cash for their purchases.

Wear and Tear

Since cash is the only accepted form of payment at most cannabis dispensaries, their ATM machines see a lot more use than ATMs at other locations. Machines must be meticulously maintained and constantly restocked. Any breakdown of the machine almost immediately translates to lost sales and revenue. Thus, it’s critically important for dispensary owners not just to install the cheapest version of an ATM, but rather one that is designed for repeated and consistent use — one that holds up under an increased amount of wear-and-tear.

Reliable Warranties and Maintenance

Sometimes, despite everyone’s best efforts, an ATM machine will go down for one reason or another. When this happens, time is of the essence to get it up and running again. If the dispensary owner also owns the machine, it’s up to him or her to get a repair technician on the scene as soon as possible; if the dispensary has a placement contract with an ATM provider, the provider will take care of maintenance and repairs. In either case, it’s of the utmost importance to have a robust warranty in place, and preferably an extensive preventative maintenance plan, to keep downtime to a minimum.

As you can see, it’s important for marijuana dispensaries not just to have an ATM available to customers, but one that is highly reliable, able to hold up to the demands of the business. AtmMachines.com, LLC provides reliable, state-of-the-art ATM machines from only the most reputable manufacturers — and for dispensary owners who don’t want the additional responsibility of care and maintenance, we provide unmatched levels of care and maintenance through our ATM placement program at no charge to the business owner. To learn more about your options for installing a reliable ATM machine in your cannabis dispensary, call us today at 1-866-295-2329.

Can You Make a Profit With an ATM?

Posted on by Justin Gilmore

One of the most common questions asked by business owners and entrepreneurs about ATM machines is whether they are profitable. Even if having an ATM at your place of business will help generate more cash sales, can you make a profit with the ATM itself?

Whether you’re trying to start an ATM business with multiple placements or installing a single ATM in your current business, the answer is yes — you can definitely make a profit with an ATM. How much profit you make depends on a number of factors, including whether you own the machine, where you place it, etc. Let’s discuss a few ways in which you can earn meaningful revenue through ATM machines.

How ATMs Produce Revenue

Every time a customer uses an ATM machine, they are charged a service charge (usually between $2-$3) in addition to the money they withdraw from the machine. (This fee is in addition to any fees their bank may charge.) If you own the ATM machine outright, you get to set the service fee, and you get to keep all of it. If someone else owns the machine and you’re just providing the space for it, you get a commission or percentage of the fee. The amount of actual profit will depend on how much (if anything) you invested in the ATM, how many machines you operate and how much foot traffic each unit receives.

ATM Placement Program

The quickest and easiest way to start making money from an ATM is through our ATM placement program. Under this program, National ATM takes responsibility for placing, stocking and maintaining the machine, while you simply provide the space for the ATM. The ATM placement program allows you to generate profits almost immediately because there is no out-of-pocket cost to you except the electricity required to run the machine. The tradeoff, of course, is that your revenue per transaction is substantially less than if you owned the machine outright.

Buying One or More ATM Machines

The other alternative for making money from an ATM is to buy the machine yourself. You make the initial investment of between $2000-$2500 per machine, and you become responsible for placement, stocking and maintenance. The benefit is that you get to keep the entire service fee; the downside is that you must cover the expenses for maintenance. However, by placing your machine in a prominent high-traffic area, it generally doesn’t take long for the machine to pay for itself and to become profitable.

Operating an ATM Business

If you’re an entrepreneurial type who sees the potential for ongoing passive income, you might consider setting up your own ATM business, placing your machines in various locations, setting up a fleet of mobile ATMs for special events, etc. The challenge is that you will either have to rent the space to place each machine or arrange to share revenue with the companies using your machines. However, with careful planning and a good business strategy, operating multiple machines can turn into a very lucrative business. To learn more about ways you can make a profit with one or more ATM machines, give AtmMachines.com, LLC a call at 1-866-295-2329.

7 Tips for Encouraging More Visits to Your ATM

Posted on by Justin Gilmore

People always need cash, and they like being able to get it on the go. An ATM machine can be a great way to earn passive income — and more so if you turn it into an ATM business with multiple well-placed machines. But even so, there are steps you can take to maximize your profitability. One of the tricks to building a successful ATM business is to generate as much traffic to your machines as possible. Let’s look at seven ways you can encourage more visits to your ATM machine.

1. Place ATMs in businesses with high cash volume.

One of the best ways to maximize ATM revenue is to put your machines in places where people are most likely to use cash for purchases. Convenience stores, bars, arcades, laundromats, trade shows, marijuana dispensaries — virtually any location where the owners, vendors and/or customers need convenient access to cash.

2. Keep service charges competitive.

As ATM service fees continue to rise across the board, ATM users tend to remember the machines that charge the least in fees. Try to use this to your advantage. If the bank ATM two doors down charges $3 per transaction and your machine only charges $2, which machine do you think customers will choose? The increased foot traffic should more than make up for the discount you offer.

3. Offer discounts for cash purchases.

This technique is primarily geared for brick-and-mortar businesses who keep an ATM in their place of business. Many shop owners offer their customers a discount for cash purchases versus credit card — which makes sense considering that merchants are charged their own fee per credit card transaction. If customers know they will pay less for something if they pay cash, they’re more likely to visit your ATM before coming to the counter.

4. Place ATMs in areas of high visibility and easy access.

You want to make your ATM as easy as possible to see, and you want to make it as easy as possible for visitors to access it. Make sure the ATM is placed in a prominent location in plain view, and make sure the walkway to the ATM is open and clear so customers don’t feel they’re navigating a maze to get there.

5. Keep surrounding areas open and well-lit.

Since ATM users are inputting sensitive information and obtaining cash, they need to feel as safe as possible while doing so. Placing an ATM in a dark corner could make users feel vulnerable to thieves looking for an opportunity. Make sure the ATM is in an open, well-lit area so users feel safer.

6. Use appropriate signage.

People won’t use an ATM machine if they don’t know it’s there. Wherever appropriate, place visible signage on or around the ATM machine. If you’re placing it in someone else’s place of business, ask the owner for permission to place signage in the windows letting passers-by know there is an ATM in the store.

7. Keep machines well-stocked and in good working order.

If a visitor approaches your ATM and finds it out of order, there’s a good chance that user won’t be back. One key to maintaining consistent foot traffic is to make sure the machine is always stocked with cash and working properly.

AtmMachines.com, LLC is committed to helping you maximize profits from your ATM machine business. For more information, give us a call at 1-866-295-2329.

5 Critical ATM Security Tips

Posted on by Justin Gilmore

Whenever you own or manage an ATM machine, your number one priority should always be security — both for your customers and for the machine itself. Running your own ATM business can be a great source of revenue, but ATMs are also hot targets for thieves and hackers. Not only will thieves want to break into your machines and steal cash, but “skimmers” will try to find ways to steal your customers’ credit/debit card information. The good news is that most of these dangers can be minimized with some common-sense safeguards in place. Let’s discuss five critical ATM security tips to help you protect both your machines and the customers who use them.

1. Keep ATMs in open, monitored areas.

ATM thieves don’t like to be observed, so visibility is one of your best weapons against theft. Avoid placing ATMs in dark, unwatched corners. Instead, place them in well-lit, open areas that are easy to monitor — and make sure the lights stay on after hours if your machines have 24-hour access. Whenever possible, place the machines under video surveillance, and make sure the cameras are in plain view, as well. Not only will these measures deter the bad guys — they’ll also make your customers feel safer.

2. Use reinforced cabinets and frameworks.

Smaller, mobile machines are often vulnerable to “brute force theft,” in which thieves will physically try to break into the machines or remove them using chains. Many ATM units now use reinforced casing and reinforced safes to make them more difficult to break into. For higher crime areas, you can also place ATMs in reinforced cages under lock and key to protect them.

3. Prioritize online security.

Nowadays, cybersecurity is just as important for ATM machines as physical security. To minimize the risk of hacking, always make sure your ATMs are transmitting on a secure, encrypted network behind a robust firewall. Additionally, keep your software regularly updated to safeguard against new viruses and malware that are constantly being developed.

4. Implement anti-skimming technologies.

“Skimming” occurs when thieves place a small device on the ATM to “skim” users’ credit or debit card info when they use the machine, which the thief can then use to make fraudulent purchases. Quite often, these devices are placed over the card swipe reader and may include a key pad which fits over your machine’s keypad to capture PIN numbers. Fortunately, there are many products on the market that can deter or disable these devices — for example:

  • Detection systems that alert you and/or disable the machine when skimming devices are detected;
  • Jitter technology, which uses a stop/start mechanism when cards are inserted to corrupt the skimmer’s data; and
  • Jamming technologies designed to interrupt skimmer transmissions.

If your machine doesn’t come equipped with anti-skimming mechanisms, consider investing in one or more of these safeguards to protect customer information and protect you from possible liability issues.

5. Invest in ATM machines with enhanced security features.

These days, ATM manufacturers are taking extra steps to make sure their machines are equipped with added security features, which include things like reflective screens, firewall protection, SSL transmission, EMV card readers and more. It’s definitely worth the few extra dollars to invest in machines that reduce the risk of theft, as well as giving both you and your customers greater peace of mind.

AtmMachines.com, LLC sells several lines of ATM machines equipped with state-of-the-art security features and the latest technologies. For more information, give us a call at 1-866-295-2329.

ATMs for Marijuana Dispensary Businesses

Posted on by Justin Gilmore

The cannabis industry in the United States is currently experiencing a huge wave of momentum. Ten states and the District of Columbia now already legalized marijuana for recreational use, and all but four states now permit it at some level for medical use. Since most cannabis businesses operate on a cash basis, ATM machines are an excellent investment for marijuana dispensary businesses.

Why Cannabis Businesses Need ATMs

In the short time since individual states began legalizing marijuana, legal cannabis has exploded into a $10 billion industry, with projections running as high as $50 billion in the next ten years. However, dispensary owners still face some real challenges — largely because while states continue to legalize the substance, the federal government still has not. Credit card companies won’t process payments for cannabis, and federally backed banks can’t take dispensaries as customers, forcing these businesses to run almost exclusively on cash. Marijuana dispensaries need reliable ATMs so their customers have easy access to cash when they need it.

Considerations for Marijuana Dispensary ATMs

What are the best ATMs for marijuana dispensaries? The answers will vary based on size, location, and layout of your space, but generally speaking, you want to look for the following in an ATM machine:

  • Time is money. When your customers lose access to cash, you’re losing sales. We recommend only using proven, reliable brands like Triton, Genmega or Hyosung with a proven track record of low maintenance issues.
  • Since ATMs are basically portable bank vaults, you want your unit to be equipped with the latest security and anti-theft protocols.
  • ATM machines come in a number of styles — standalone, kiosk, tabletop, and wall units. The kind you choose will largely depend on where you need to place your unit for maximum visibility and easy access.

Bitcoin ATMs

Given the rise of cryptocurrencies, bitcoin ATMs can also be an excellent option for marijuana dispensaries. Rather than dispensing cash, these units are basically cryptocurrency exchanges that allow customers to purchase bitcoin or other cryptocurrencies using a credit card. The customer then uses the cryptocurrency to make a purchase.

Bottom line — if you run any type of marijuana dispensary business and you don’t provide your customers with an ATM machine, you’re basically leaving money on the table. Fortunately, getting an ATM is easier than you think. To learn more about how to get a cannabis dispensary ATM, call AtmMachines.com, LLC at 1-866-295-2329.

Using Mobile ATMs for Outdoor & Special Events

Posted on by Justin Gilmore

Scenario: You’re in charge of planning for an expo, festival or other special event drawing a large crowd. You’ve spent the better part of a year (or two) planning the event. You’ve got the booths filled, the stage schedule set, the vendors booked, the tickets sold. You’re expecting hundreds, maybe thousands of attendees, all of whom are coming to spend money. There’s just one problem: There’s nowhere convenient on the festival grounds or in the venue for visitors to get cash. That’s where it pays to rent one or more mobile ATM machines for placement at your outdoor and/or special event.

What Is a Mobile ATM?

What is the primary difference between a mobile ATM machine and one that is permanently installed? Aside from the obvious portability factor, a mobile ATM is one that serves your purposes only for the length of your event. You rent the machines from a reputable company like National Wholesale ATM, who takes responsibility for installing, maintaining and refilling the machines, as well as tracking transactions. Your attendees get the convenience of cash when they need it, and when the event is over, the machines are removed.

Advantages of Renting Mobile ATMs

There are several key benefits to using mobile ATMs for special outdoor events, as well as for food and music festivals — and indeed for any large gathering where people are likely to spend money. Let’s look at a few of the advantages:

  • Easy cash access for attendees. If a festival attendee runs low on cash and has to leave the grounds to get more, he/she is more likely either to leave and not return — or simply to stay and stop spending. Providing ATM access is convenient for your attendees, and it helps keep the cash flow going.
  • More revenue for your vendors. Not all vendors will come equipped with mobile credit card processors, and not all your attendees will want to pay by card. Keeping an easy cash option available means attendees are likely to spend more money at the booths, merch tables, etc. When you make the event more profitable for your vendors, they’re more likely to return next year.
  • Greater profitability all around. Studies show that 75 percent of cash received at an onsite ATMs is spent onsite. More cash means more money spent, adding to your overall bottom line at the event. (Not to mention you’re getting a surcharge on every ATM transaction that occurs during the event or festival.)

Considerations when Renting Mobile ATMs

Providing mobile ATMs for your festival or special event requires some pre-planning and strategy, from figuring out electrical access to visibility issues to who will be maintaining the machines. To ensure your machines deliver maximum results at your festival, this article shares a few additional factors to keep in mind.

Let AtmMachines.com, LLC provide convenient mobile ATMs for your next outdoor or special event. To learn more, call us today at 1-866-295-2329.

What You Need to Know About Bitcoin ATMs

Posted on by Justin Gilmore

In recent years, cryptocurrencies like bitcoin have seen such a surge in value that investors have been scrambling to buy up as much of it as possible. But because it’s actually a form of currency, bitcoin can also be used to purchase products and services, even at brick-and-mortar businesses. This has led to a rise in blockchain and cryptocurrency ATMs placed in businesses across the country. If your company is set up to accept cryptocurrency as a form of payment, here’s what you need to know about bitcoin ATMs.

How They Work

If you’re confused as to how to use a bitcoin ATM, you’re not alone, as most people are still getting familiar with the technology. Bitcoin ATMs work a bit differently than standard cash ATMs, although the concept is similar. Both are basically exchange platforms, but while a cash ATM gives customers cash in exchange for a withdrawal from their bank account, a bitcoin ATM allows them to exchange actual currency for cryptocurrency, either by a cash deposit or with a credit card. After confirming the user’s identity, the ATM finds an exchange platform with the best exchange rate and completes your purchase by transferring bitcoin (or other cryptocurrency) immediately into the person’s digital wallet. He/she may also print out an offline receipt with a code or have a code emailed to them. The customer then presumably uses the cryptocurrency to make a purchase with you, the same as a cash customer would after using a conventional ATM.

Are They Safe?

Given the rise of cybercrime over the past few years, it’s understandable that people might wonder whether bitcoin ATMs are safe to use. The reality is that from a security standpoint, bitcoin ATMs are no different than conventional ATMs — they’re just using a different kind of currency. If you’re comfortable pulling cash out of a regular ATM, you should feel just as comfortable using a cryptocurrency ATM. In fact, the blockchain technology behind cryptocurrency is both transparent and instant, which means every transaction is instantly “seen” and updated across all channels, and all data is preserved in multiple places. This makes blockchain very difficult to hack or manipulate because discrepancies are easy to spot. Thus, from one perspective, bitcoin ATMs may actually be safer to use than cash ATMs.

What Businesses Benefit from Bitcoin ATMs?

Obviously, most companies that operate 100-percent online don’t really need a bitcoin ATM since they can accept cryptocurrency directly online. However, many brick-and-mortar companies now see the value in accepting bitcoin and other cryptocurrencies as an alternative type of payment, especially considering how these currencies themselves have exploded in value. In particular, bitcoin ATMs are very useful to marijuana dispensaries since federal law currently stops these businesses from taking credit card payments or depositing cash into banks. However, we’re now seeing bitcoin accepted by major brands like Subway all the way down to mom-and-pop pizza joints. Bottom line, if your company accepts bitcoin, you can increase your sales by making a bitcoin ATM available to your customers. To learn more about how this exciting technology can work for you, call AtmMachines.com, LLC at 1-866-295-2329.

Tips and Tricks for Your ATM Business

Posted on by Justin Gilmore

Many brick-and-mortar businesses — if not most — find great benefit in having an ATM machine installed for their customers to use. Not only does an ATM provided added convenience for your customers, but it also helps you generate more cash sales — and when utilized properly, it can also be an additional source of passive income. If you’re installing an ATM for the first time, or if you are unsure how to make the most of your investment, the following tips and tricks should be useful to you.

Choose the Right Type of ATM

ATM machines come in a variety of styles and shapes. Some are standalone units, some can sit on countertops, some can be installed in a wall, and some are even designed for outdoor use. Not every type of ATM is right for every business, so do a bit of planning and decide what type of ATM will work best for your customers as far as convenience and visibility without getting in the way of anything else important.

Be Purposeful in Getting Customers to Use the ATM

The more customers who use your ATM, the more benefit you’ll receive from having it in your business — both for the added cash sales and the proceeds from the machine itself. Strategic positioning and cash sale incentives are just a couple of ways you can attract more customers to use your ATM machine. Don’t just let your ATM sit there passively; be purposeful in how you utilize it, and do what you can to encourage more visits to your ATM machine.

Be Mindful of Security Concerns

An ATM can add lots of revenue to your business, but you must remember it’s basically a portable bank filled with cash. Be sure to position the machine in a place where it can be monitored, and regularly check for signs of tampering or “skimming.” The following critical ATM security tips will help you keep your machine safe.

Consider Buying an ATM

While leasing an ATM from a reputable company saves you from doing most of the legwork of stocking and maintenance, it also means you have to share revenue. If you own the machine outright, you get to keep all the proceeds for your business. If your business sees a lot of cash customers, it might be worth your while to buy an ATM machine outright.

AtmMachines.com, LLC is committed to helping our customers make the most out of their ATM machines. To learn more about how to generate more revenue for your business with an ATM machine, call us today at 1-866-295-2329.

The Best ATMs for Marijuana Dispensaries

Posted on by Justin Gilmore

With laws changing involving the use of cannabis for both medicinal and recreational purposes, marijuana dispensaries are becoming more and more common. Of course, it’s worth noting that regulations involving businesses that sell marijuana often stipulate that they only accept cash payments. This requires all customers to have cash on hand, and so it’s only natural for marijuana dispensaries to have an ATM at their location in order to best serve their customers.

Nautilus Hyosung MX2900

This is a great ATM for businesses of all kinds, especially ones that have never had an ATM on the premises before. It’s not overly elaborate in terms of fancy bells and whistles. Instead, it’s easy to use and should have minimal maintenance issues. The MX2900 is also one of the more energy efficient ATMs on the market and can even be set up with solar power, making it a green ATM. There are nearly 2,000 models worldwide, so you know you’re getting a machine with a good reputation that can be trusted.

Genmega GT5000

For marijuana dispensaries interested in a wall or kiosk ATM, the GT5000 is a nice option. It has a compact look but at the same time includes a 15-inch panel and LCD screen, so users won’t have to squint to conduct business. This is also a good model if security is a top priority. The GT5000 has a rear-service panel that allows the ATM operator or any service person to gain safe access to the machine. The GT5000 is also known as a low-maintenance machine, so upkeep should be kept to a minimum.

Triton Argo

With legal marijuana being the way of the future, it could make sense to go with a futuristic-looking ATM, which perfectly describes the Argo. This model has easy-to-read keypads, a large screen, and even touchscreen options. It’s also a printer-less ATM, sending receipts via text or email instead, making it one of the most environmentally friendly ATMs available. The look and design of the Argo also make it the perfect fit for a trendy and popular marijuana dispensary. Most importantly, there are several important security features, including shoulder surfing protection, surveillance camera provision, and skimming protection.

Nautilus Hyosung Monimax 5000

To be fair, this isn’t the fanciest ATM model you’ll find. However, with a small footprint, it’s a good fit for dispensaries that don’t have a lot of open space. It also has an open architecture and several optional features, so it can be modified to fit the specific needs of a shop. It may not be much to look at compared to the Argo, but it’ll get the job done for any dispensary in need of an ATM.

Genmega Onyx

The Onyx is an ATM model that never goes out of style and can work at just about any location. Its top features include a security reflective front, a widescreen, and an LED sign so your customers will have no problem finding it. This model is also compatible with a number of cash dispensers, even ones that aren’t made by Genmega, giving you plenty of options to fit the needs of your particular shop.

Contact National ATM Wholesale today to learn more about choosing an ATM for a marijuana dispensary.