Shorthand for the cumbersome words “Crypto-currency”.
A “hot wallet” is live wallet loaded with Coin, ready to send to your customers. A “cold” wallet is offline, in storage; the keys are never exposed.
Bills. Banknotes. Cold, hard cash that you hold in your hand, e.g. Dollars.
An Exchange is a vendor that offers Coin for fiat. Examples are Kraken, Coinbase, and Bitstamp. Many Exchanges will only service specific geographic areas. We offer access to the most popular Exchanges, and not all Exchanges will grant you an account.
A customer transaction; the customer presents fiat to you in exchange for coin from you.
A customer transaction; the customer sends coin to you in exchange for fiat from you.
The BATM in your possession is similar to a vending machine. You are responsible for acquiring the Coin that the BATM sells. You typically buy the Coin using an Exchange, then either send it to your Hot Wallet, or directly to your customer from the Exchange.
As with a vending machine, where you get your product is entirely up to you - and every Operator will have different needs, preferences, and tolerances. There is no “magic” solution that we can offer - as we have no way of intuiting these variables. We do offer a wide variety of options to help you find a usable fit. Still, setting up an account with an Exchange is the first hurdle to jump. We are not affiliated with any particular Exchange, and cannot help you in that regard.
You’ll normally need an approved & funded Exchange account to use our BATMs. You’ll also need an Operator Account with General Bytes for Support & billing purposes.
1. Create a GB Operator account.
Purchasing a BATM doesn’t automatically create an account. You’ll have to connect your BATM to a server to operate it. BATMs do not stand alone, and require CAS to operate.
At a minimum, you’ll need to configure your Crypto Settings. Setup a connection (API) to your Hot Wallet and/or Exchange to enable CAS to send/receive coin to/from your customers. Dummy settings (Demo Wallet & Demo Exchange) are automatically created by default, and while there may appear to be successful transactions - no coin is actually changing hands until you set it all up with live accounts.
Other areas that should be specifically customized before deployment include:
AML/KYC Settings - don’t violate local laws!
Terminal Settings - customize your Terminal messages to enable your customers to contact you in the event of any problems.
Notifications - you’ll need to know what’s happening with your operation.
Locations - this is important for any Coin ATM Radar account.