Author: Justin Gilmore

Using Bitcoin ATMs for Marijuana Dispensaries

Posted on by Justin Gilmore

With 10 states (plus the District of Columbia) and counting having legalized recreational marijuana, and nearly every state legalizing it for medicinal purposes to one extent or another, marijuana dispensaries are popping up on street corners all across the country. It’s one of the fastest growing industries and is expected to gross billions of dollars over the next decade. However, the marijuana industry faces many obstacles and challenges that other industries don’t have to worry about. Fortunately, the cryptocurrency industry and a new type of ATM are providing a solution.

While marijuana is slowly becoming legal in a larger percentage of the country, using and selling it for recreational purposes is still seen as a crime on some level. As a result, a lot of credit card companies and banks won’t do business with marijuana dispensaries. Without the support of a bank or financial institution, it’s almost impossible to operate a business in today’s world. Some cannabis shops have been forced to open accounts under an alias to hide what they sell. The rest have to conduct business entirely with cash, which can complicate things while also making them vulnerable to robbery attempts.

Naturally, most marijuana dispensaries utilize ATMs so that their customers can withdraw the cash they need to make purchases from the shop. But another type of ATM is becoming increasingly popular inside marijuana shops, and it’s called a Bitcoin ATM. Unlike traditional ATMs, users do not physically withdraw Bitcoins from the machine; that would just be asking for trouble in the form of more robberies. However, it does allow patrons of marijuana dispensaries to make purchases without having to use cash. It also makes it easier for shops to get by without the backing of a bank or other financial institution.

Physically, Bitcoin ATMs are free-standing machines like traditional ATMs. However, they are used a little differently. Rather than allowing users to make withdrawals, they allow users to access a cryptocurrency exchange platform that allows them to use cash or a credit card to buy Bitcoin and other types of cryptocurrencies that they can turn around and use to make purchases at a marijuana dispensary. The machine has specialized software that enables quick and convenient cryptocurrency transactions.

Bitcoin ATMs have become so important to the marijuana industry that a company that makes Bitcoin ATMs called Virtual Crypto Technologies has created a machine designed specifically for cannabis dispensaries. When a buyer is ready to make a purchase, they scan a QR code that appears on the shop’s point-of-sale screen interface. This code is specific to each individual transaction. Within seconds, minutes at the most, the store will receive confirmation that Bitcoin or another cryptocurrency has been transferred to pay for the products being purchased.

The software inside the machine allows the transaction to happen in real time. It also searches various cryptocurrency exchange platforms to find one with the lowest exchange rates, ensuring that buyers get a good deal when they are purchasing the Bitcoin. Essentially, the customer is buying Bitcoin and immediately turning around and selling that Bitcoin for products at the marijuana dispensary. With Bitcoin ATMs and similar machines, the process happens in minutes and seconds, making for quick and easy transactions that anyone visiting a marijuana dispensary can use to make a purchase.

Contact National ATM Wholesale today to learn more about using bitcoin ATMs for marijuana dispensaries.

Are Bitcoin ATMs Safe to Use?

Posted on by Justin Gilmore

There’s a new type of ATM popping up in hotel lobbies, convenience stores, and all of the other usual places where ATMs can typically be found. But these are not like any other ATM, they are Bitcoin ATMs. Rather than being used to withdraw money or conduct banking, Bitcoin ATMs allow people to buy and sometimes sell Bitcoin and other cryptocurrencies on the go. Of course, since they are still relatively new, many people are wondering about the safety of Bitcoin ATMs.

Fortunately, there are a lot of measures in place that help ensure that Bitcoin ATMs are safe to use. While the process of using a Bitcoin ATM is a little different from traditional ATMs, the safety measures are comparable. If you feel safe using a traditional ATM to withdraw money, you shouldn’t have any concerns about using a Bitcoin ATM.

First, it’s worth mentioning that Bitcoin ATMs are not connected in any way with traditional banking institutions. However, most Bitcoin ATMs are owned and operated by established business entities that should be trusted. Most operators include their address, email address, and phone number on the machine, making it easy for users to contact them if there’s a problem. Users should also take comfort knowing that they only interact with the interface of the machine. Like traditional ATM transactions, everything on a Bitcoin ATM is performed via the Internet, so there are no other people involved.

The purchase of buying Bitcoins through a Bitcoin ATM also has security measures in place. Assuming you already have a Bitcoin address and cryptocurrency wallet, you can scan your QR code to start the process. You will then enter your phone number into the machine, receiving a one-time password via text message within a few seconds. You just enter that password into the machine to confirm that it’s actually you standing in front of the machine and you’ll be free to proceed.

If you don’t already have a Bitcoin address, there are a few more steps for security reasons. You will likely be asked to ID, which usually involves the machine scanning both sides of your driver’s license. Some Bitcoin ATMs will also take a picture of you to double check that the person standing at the machine matches the picture on the driver’s license. As long as all of that checks out, you’ll be able to insert cash into the machine and purchase Bitcoin or other cryptocurrencies.

After making your purchase, the Bitcoins will be inserted right into the digital wallet that’s associated with the QR code you provided. You can also print out confirmation of your Bitcoin purchase or have it sent to you via email. Either way, you’ll have proof or your safe and secure purchase through the Bitcoin ATM.

Obviously, you’ll want to take the same security measures with a Bitcoin ATM as you would a traditional ATM. This means using a machine that’s in a well-lit area and an open space. Of course, it’s also good to know that many Bitcoin ATMs have security cameras and video analytics that can detect loitering or other types of suspicious behavior around the machine. If anything out of the ordinary occurs near the machine, security personnel can be notified. This should help ease any concern you have with using one of the many Bitcoin ATMs that are becoming more and more common in our world.

Contact AtmMachines.com, LLC to learn more about bitcoin ATMs.

What You Need To Know: Marijuana Dispensary ATMs

Posted on by Justin Gilmore

Marijuana dispensaries are quickly becoming one of the fastest-growing businesses in the country. With a growing number of states allowing for the sale of recreational cannabis and most states legalizing medicinal marijuana in one form or another, marijuana dispensaries aren’t going away anytime soon. In fact, the industry is projected to create billions in revenue over the next decade. If there’s one thing every current and future marijuana dispensary needs to understand, it’s the importance of having a marijuana dispensary ATM on site.

While several states have legalized recreational marijuana, cannabis is still considered illegal on a federal level. Even though this doesn’t stop pot shops from conducting business, it creates certain complications. For starters, most of the major credit card companies won’t allow their customers to conduct transactions at marijuana dispensaries. Also, most major banks won’t take dispensaries as clients, preventing those businesses from making deposits.

As a result, most marijuana dispensaries are left doing most of their sales using cash. Of course, there’s nothing wrong with this. Using cash is still the fastest way for consumers to make purchases at any type of store. However, if you know that most of your customers are going to use cash to make purchases, whether they have a choice or not, it’s best to have an ATM inside the shop.

Odds are, most customers aren’t going to think ahead before visiting a marijuana dispensary. If they don’t have enough cash to make a purchase, they’ll be out of luck, and so will you, because you won’t get their business. However, if there’s an ATM conveniently located inside the shop, this won’t be a problem. In fact, customers will also be able to get more cash if they end up spending more than they expected.

Not only will an ATM likely lead to more business, but it’ll also mean accepting fewer checks from customers. Since dispensaries can’t always get a bank account, taking checks from customers who don’t have enough cash can be a hassle. This can easily be avoided if customers have easy access to an ATM. When you factor in earning extra income from transaction fees, it’s a win-win for any marijuana dispensary to have an ATM on hand.

Of course, there’s a lot more to know about ATMs than just knowing that you need one. For starters, it’s safe to assume that an ATM at a marijuana dispensary is going to get a lot of use, potentially thousands of transactions per month. This means being able to restock the machine on a regular basis so it never runs out of cash. It also means knowing who to call for any technical problems that could arise. Finally, marijuana dispensaries should make sure they have an ATM that’s easy to use, durable, and secure, so they can make their customers feel comfortable and safe when using it.

Whether you run a marijuana dispensary or any other type of business, AtmMachines.com, LLC can take care of all your ATM needs. We can sell you an ATM or offer both partial and full ATM placement. If you run a marijuana dispensary, you’re doing yourself a disservice if you don’t have an ATM on site. Fortunately, AtmMachines.com, LLC can tell you everything you need to know about buying or placing an ATM so that your legalized marijuana business can thrive. Contact us today to learn more about marijuana dispensary ATMs.

How Do Bitcoin ATMs Work?

Posted on by Justin Gilmore

Whether it’s in hotel lobbies, restaurants, convenient stores, large public events, or any number of other places, ATMs have become commonplace in today’s world. However, there’s a similar machine that’s starting to make headway in our society, and it’s the Bitcoin ATM. While these hold some resemblance to traditional ATMs, they serve a different function. Rather than withdrawing money or conducting banking transactions, they allow consumers to buy and sell Bitcoin and other cryptocurrencies while on the go. So, how exactly do Bitcoin ATMs work?

At first glance, the prospects of using a Bitcoin ATM may seem a little intimidating. However, they are designed in a way that makes them easy to use for people who don’t have a lot of experience with Bitcoin and cryptocurrencies, including people who aren’t that great at using technology altogether. Most Bitcoin ATMs are set up to help people purchase Bitcoins, although some also allow users to sell Bitcoins.

Naturally, the first step is to confirm your identity. Rather than having a traditional ATM card, Bitcoin ATMs will often ask for your phone number. You will then be sent a verification code via text message that you will enter into the machine. Most Bitcoin ATMs will also ask users to scan a driver’s license or another form of ID in order to verify personal information.

After you have confirmed your ID, you will input a dollar value indicating how much money you want to spend on your Bitcoin purchase. There will usually be a limit as to how much you can purchase but nothing that would inhibit most users. Once you pick a dollar amount, you insert that money into the machine. However, some machines will accept credit cards for users purchasing large amounts of Bitcoin.

Once you have inserted your money or credit card, the Bitcoin ATM will connect with a cryptocurrency exchange platform and make the purchase. The software should search through various exchange platforms to find the best exchange rate. If you already have a bitcoin wallet, you can scan it on the Bitcoin ATM and the machines will send the Bitcoins you just purchased straight to that wallet. You also have the option to print out an offline wallet with the details of your purchase or have the QU code sent to you via email.

The process of selling Bitcoins at a Bitcoin ATM is similar, although not every machine may offer a selling option. Once your ID has been verified, you input the amount you want to sell in standard currency and send that amount in Bitcoins to the address on the screen. The machine will then dispense cash just like a traditional ATM.

It may sound confusing at first, but the same could be said of standard ATMs the time you used them. After using a Bitcoin ATM once or twice, most people should get the hang of it. There are even resources to help you locate the Bitcoin ATM nearest to you. You may be surprised to learn just how many Bitcoin ATMs there are in the world, how easy they are to find, and most importantly, how easy they are to use.

Contact AtmMachines.com, LLC today to learn more about bitcoin ATMs.

How to Put Together an Effective ATM Placement Strategy

Posted on by Justin Gilmore

Having an ATM at your business or event is a lot like real estate in that the three most important things are location, location, and location. Yes, you need a quality machine that looks nice and has the features that you need. However, if you don’t have that ATM in the right location, it may not matter that much. In order to maximize the benefits of having an ATM, or multiple ATMs, you need to put them in the right place. Here are a few things to keep in mind for putting together an effective ATM placement strategy.

Foot Traffic

So many businesses make the mistake of tucking their ATM away in a corner as if it’s an eyesore that they want to hide. This can be a huge mistake because if people can’t find the ATM, they can’t use, and if they can’t use it, you won’t see the benefits of having one. It’s important to have signs directing people toward the ATM, but it’s even more vital to keep the ATM in a place that experiences a lot of foot traffic. The trick is making sure the machine doesn’t block traffic within your business.

Depending on the size of your store or business, it often times makes sense to put an ATM in the lobby or near the doorway. This isn’t always ideal for smaller stores because it can block the entrance to your business. However, if there’s enough space for the machine and perhaps a small line of customers behind it, this can be a great way to maximize the foot traffic near your ATM. With larger facilities that have multiple ATMs, one should almost always be near the entrance.

Safe Spot

Much like with real estate, safety is a factor that you shouldn’t overlook with ATM placement. After all, if people don’t feel safe while standing at your ATM, they’re not going to use it. With this in mind, you need to make sure your ATM is in a wide open space that’s well lit. Again, don’t tuck it away in a dark corner because people won’t feel safe withdrawing money there. The user needs to be able to see everything around him or her in all directions in order to feel safe. If you put your ATM in a place near a security camera or some kind of visible security system, it’ll help your customers feel safe and at ease while using your ATM, which is what you want to be the case.

Outdoors Is An Option

For certain businesses, having an outdoor ATM is something to consider. Instead of your ATM only being available to people during normal business hours, it’s now available 24/7, which can help increase the revenue you can from your ATM. The caveat is that it makes security all the more important. An outdoor ATM needs to be in an area that’s well lit, even at night, and far from corners or anywhere a potential thief could hide. Also, having a camera and security system would be a prerequisite for having an outdoor ATM.

Trial & Error

Perhaps the most important thing to remember when it comes to an ATM placement strategy is that it’s a process of trial and error. Most businesses will have several viable options for placing an ATM, and it’s usually in their best interest to give each location a try to find out what spot yields the best results. Think of it as a type of market research; you have to try out a few options before deciding what strategy is best.

Where Should I Put My New ATM?

Posted on by Justin Gilmore

Having an ATM in your business or retail store can be a great way to build customer loyalty and add an extra source of revenue. However, simply having an ATM is only have the battle. It’s imperative that you put the ATM in the right location in order to maximize the use it gets. Here are a few things to keep in mind when it comes to finding a home for your new ATM.

Somewhere Visible

For your customers, finding your ATM should not feel like walking through a maze. Your ATM should be someplace out in the open so it’s easy to find. It’ll help if your ATM also includes a large sign above it to increase its visibility, as well other signs directing customers to the ATM. However, above all else, your ATM should be someplace visible.

Somewhere with Foot Traffic

The best way to ensure people use your ATM is to put it somewhere with ample amounts of foot traffic. Many businesses choose to put their ATMs near their front door so that people pass by it on the way into the store. This placement strategy tends to work as long as the doorway isn’t blocked by people lining up to use the ATM. As long as there’s foot traffic near your ATM, you should be able to maximize the number of people using it.

Somewhere Safe

Safety is of the utmost importance when it comes to ATMs, as people will likely use it to withdraw large sums of money. With safety in mind, make sure there are no nearby corners or blind spots for people while they’re using the machine. It will also give users peace of mind if there is a surveillance camera or other visible security measures nearby to help them feel safe while using your ATM.

Be Flexible

When it comes to ATM placement, it always helps to be flexible. There are probably multiple locations within your business that could serve as a viable home for your ATM. When you first get your ATM, don’t be afraid to experiment with a few different locations to see what one will work best. In a way, trial and error is the best way to find the right spot for your ATM.

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How Much Money Can I Expect To Make With An ATM?

Posted on by Justin Gilmore

Before taking the leap in buying an ATM, it’s only natural for business owners to know how much they can expect to make. Obviously, there’s no way to guarantee that you’ll meet a certain revenue threshold with an ATM. However, there are ways to predict how much use an ATM will receive in order to create a rough estimate for how much revenue the machine will create.

It’s typically agreed that 3 to 5 percent of the people who walk by an ATM will use it. Therefore, the total number of people who use it will depend on the location of the machine and how much foot traffic there is in that area. If thousands of people walk past the ATM on a daily basis, it could be used for dozens or possibly hundreds of transactions every day. If you have a spot picked out for your ATM, try to estimate how many people walk by that spot every day and you’ll have a rough estimate for how much use an ATM in that location will get.

The next step is to multiply the number of expected users by the fee you plan to charge for using the machine. If you own the ATM, you’re free to charge however much you want. Of course, keep in mind that charging too much could deter people from using it. Meanwhile, charging too little will make it difficult to generate much revenue unless the machine is in a high-volume area.

Most ATM owners find a good balance charging between $2 and $3 per transaction. Like any other type of pricing, an ATM surcharge can come down to supply and demand. Unless there are no other ATMs within walking distance, a $2 to $2 fee is typically a fair surcharge that allows you to earn a substantial amount of revenue from your machine. You probably won’t make the same amount from your ATM every month. However, by multiplying your foot traffic by your surcharge, you should have a good estimate for how much you can expect to make with an ATM.

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How Do ATM Machines Work?

Posted on by Justin Gilmore

It’s a little ironic if you think about it. Most of us know how to use an ATM but few of us have any idea how it actually works. We merely trust that when we need to, we can get money from them. Let’s take a closer look at what happens inside an ATM to see if we can make a little sense of how they actually work.

As you know, it all starts when you swipe or insert your ATM card into the machine. This prompts the user to enter their pin number. Assuming the correct pin is inserted, the machine confirms the ID of the user and transmits information from the ATM card to the host server, which is what allows a transaction to take place.

After the user’s ID is confirmed and they use the display screen to request a transaction, the machine contacts the host server with the transaction request. The host server acts as an intermediary for contacting whatever bank issued the ATM card. This process use to be done via phone but can now be done using the Internet, which helps make everything go a little faster.

The host server is responsible for contacting the bank to get permission to transfer the funds. Once they get permission from the bank, the server sends the ATM approval codes, allowing the machine to dispense the money requested by the user. The ATM can also share the balance of the account being accessed by the user, as well as issue a receipt if requested.

Inside the machine, there are sensors that count each bill in order to distribute the correct amount of money to the user. The sensors count bills based on their size, so if any of them are folded, wrinkled, or stuck together, they can be moved to a rejected bin. This helps to explain why the money you get from ATMs are often crisp and new. There is also a device inside the ATM that tracks every transaction so there is a record of how much money has left the machine and how much remains inside.

The final step is for the host processor to use an automated clearing house (ACH) to transfer funds from the account of the person using the ATM to the person who owns the ATM. This ensures that the person or business that filled the ATM is reimbursed for the money that has been withdrawn from the machine. However, this transaction isn’t typically completed until the next business day.

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The Best ATMs For Retail Businesses

Posted on by Justin Gilmore

There are countless benefits of having an ATM, if not multiple ATMs, at your retail store. Really, the only question is what model ATM is the best fit for your business. Among the many options, here are five ATMs that are among the best model for any retail business.

GenMega G2500

This is a rather standard machine with retail locations in mind. For starters, the LED sign helps make it more visible so that customers can find it easily. This model features a number of important features considering how affordable it is. The G2500 is also easy to customize to help fit the needs of a particular business. Perhaps most importantly, this model has the reputation of being reliable and long-lasting with parts that will be easy to replace, making it a great option for small businesses without a lot of spare cash to spend on an ATM.

GenMega Onyx

The Onyx is just the next step up from the G2500. It has the same kinds of features and reliability as the G2500 except with a 12-inch screen instead of an 8-inch screen, not to mention a sleeker design with a visible but less gaudy LED sign. Retail locations that are a little more upscale tend to top for the Onyx rather than the G2500 because it has a more appealing appearance rather than simply being practical.

Nautilus Hyosung NH-2700

This Hyosung model is a good option for business owners who know their ATM is going to get a lot of use. It’ll stay durable over the long-term, rarely needing maintenance or parts that need replacing. There are also plenty of fancy features on the 2700 model, including weather updates, streaming news. This model also utilizes a low-energy LCD display, which means it can help you lower your energy costs, which can be another nice benefit.

Hyosung Nautilus HALO-S

The HALO model is a little simple and basic, but that makes it a good choice for retail stores that need a user-friendly ATM. This machine also has parts that are designed to last long-term without much maintenance or upkeep, so store owners won’t need to put too much work into it. Instead, they can just sit back and reap the rewards of an ATM in their store.

Triton Traverse

Triton built this ATM specifically for retail use, as it has a sleek look and is designed to protect the PIN of users. It includes all the basic ATM features and the necessary security requirements. The Traverse has minimal operating costs, making it another good option for small businesses that need an ATM but don’t have much to spend.

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What Is The Best ATM Machine to Buy For A Small Business?

Posted on by Justin Gilmore

For small businesses with tight budgets and small margins, one of the best ways to add an extra source of revenue is installing an ATM at or near your place of business. However, it’s important for those small businesses to find an ATM model that fits their specific needs. So, what is the best ATM machine to buy? Here are a few ATMs that have been designed with small businesses in mind.

Hyosung Monimax 5000

This is a user-friendly ATM with a small footprint, making it a great fit for small businesses without a lot of space for an ATM, especially retail stores. This model can be easily fitted with a sign topper to help customers find the machine, as well as a privacy filter to help boost security and use peace of mind. The Monimax 5000, like most Hyosung models, is built with open architecture, making it easy to update and modify it to fit the specific needs of a small business.

Genmega GT3000

This model is a through-the-wall ATM, but one that should work for small businesses with a kiosk or a little extra wall space. Not only is it compact but it’s also cost-efficient so even a business with limited space and a limited budget should be able to find a way to install the GT3000. This ATM is also weather resistant, giving businesses the option of placing it outdoors while loading money and taking care of maintenance through the rear service panel.

Hyosung NH-2700

The NH-2700 is a little bigger than the first two models listed, but it’s built with retail locations and small businesses in mind. Like other Hyosung ATMs, this model is user-friendly and has an open architecture to make modifications easier. This machine is also designed to run for a long time without requiring much maintenance, which is great for small business owners without a lot of free time. The NH-2700 also comes weatherized, so outdoor placement is an option.

Genmega G2500

This is a free-standing ATM but one that’s compact enough to fit into a small space. There aren’t a lot of fancy bells and whistles, but it can be customized to fit the needs of a particular business. It was designed with retail locations in mind, making it ideal for small retail stores looking for a simple but flexible ATM.

We have the perfect solutions for small businesses, but if you’re still asking yourself, “What is the best ATM machine to buy?” contact us to learn more today.