Frequently Asked questions
Is it legal?
Yes. Bitcoin Depot only operates in licensed states. Bitcoin Depot has a fully staffed compliance department. We follow all state and federal AML and KYC compliance laws and regulations. Our MSB money transfer license number is 31000162524519.
Why do customers use Bitcoin?
Customers use Bitcoin for bill payment, money transfers, online purchases including through PayPal, and to store value for investment purposes. Many transactions that are done at currency exchanges can be completed faster and much more cost effectively through crypto wallets. There are likely thousands of retailers that accept bitcoin. Bitcoin is changing how we use and store value!
Ideal Locations / Criteria
The locations we target are stores that are in cities with populations of at least 20K and where we don’t have an existing bitcoin ATM within about 3 miles. We install our kiosks at convenience stores, gas stations, liquor stores, and similar retail locations. Stores that are open at least 12-14 hours a day are ideal for our placements. Our placement program is moving at a rapid pace, so please contact us soon while we may still may have an opening for a placement at your location!
What does the store need to do?
We only ask for floor space of 18”W x 23” D and (1) 120V/20AMP power outlet. We use a national service company for maintenance and Garda Armored for cash pick-up, security, and balancing.
Is the kiosk secure in my store?
We bolt each of our bitcoin ATMs to the floor. Each kiosk is equipped with a self-contained wireless router which has a camera and is monitored real-time in our contact center. We arrange cash pick-ups when the kiosk meets certain thresholds to minimize the amount of cash in the kiosk at any given time. Our goal is to make the kiosk a less attractive target than the ATM if there is an ATM in the store.
Which Cryptocurrencies does Bitcoin Depot sell?
Bitcoin, Litecoin, and Ethereum. After the crypto value is in the wallet app, it can be converted real-time to many different cryptocurrencies directly from your wallet app. It is immediately available for exchanges, transfers, and bill payment.
Which crypto wallet should I use?
The only way to send and receive cash-to-crypto is through a bitcoin wallet. Bitcoin wallets have unique wallet addresses that are specific to each wallet. For security purposes some wallets generate a new receiving address after each transaction. There are many wallet apps, but for ease of use, we recommend using Edge. Edge can be found in your smart phone’s app store.
Why choose Bitcoin Depot?
Selecting a bitcoin kiosk operator is important. Bitcoin Depot is the largest crypto kiosk operator in the US. This allows us to make large investments in compliance within each of the states we operate. Our commission structure to our stores provides a fixed monthly guarantee, but it also provides a per transaction payout with no caps. In the long term we expect our customers to receive the highest possible commission as transaction volumes grow in this new, exciting and expanding industry!
Top Crypto Operators
Bitcoin Depot is the largest crypto ATM operator in the US. Please see the link below for the current top 10 bitcoin ATM operators.