GenesisCoin is releasing its second-gen Bitcoin ATM. Priced at $7,500, at about half the price, the Satoshi1 offers one way Cash->Bitcoin, Cash->Litecoin, Cash->Dogecoin transactions. This machine has been specially designed to meet all international guidelines for AML/KYC with high grade network encryption, and it even…
A. Genesis Coin formally started in April of 2013 (I demoed our fully-functional 2-way ATM in May of 2013, see: https://www.youtube.com/watch?v=yqmD36JEKWI), with the goal of producing innovative software for the crypto-currency industry. Our core focus is currently on the emerging physical infrastructure market — kiosks and 2-way ATMs — but I ultimately view that as just the beginning, hence the name Genesis. In part, I was looking to create a Bitcoin-based revenue stream, and so we keep as much of our profit in Bitcoin as possible
A. The Genesis1 is designed for the business-oriented operator, who is interested in maximizing the return on their time and investment while simultaneously providing much-needed liquidity and infrastructure to the “tangible” crypto-currency world. Our operators are as diverse as you would expect, given the very broad-based appeal that Bitcoin engenders. Young entrepreneurs and seasoned veterans alike have purchased and deployed the Genesis1. Ultimately, we are targeting people who understand the vision and power of this new technology: to create a world without financial borders, where merchants & consumers from all across the globe can interact with ease.
A. Absolutely. In following with our goal of maximizing our operators’ revenue stream, we’ve already added support for Litecoin and Dogecoin to our software. We will continue to add support for additional crypto-currencies as our operators and their customers request it. Currently, operators have the choice of enabling or disabling the alt-coin support very easily in the backend, and we by no means require an operator to provide services for any coins.
A. The entire experience on the Genesis1, from branding and logos to prices and exchange options, is entirely set by the operator. We provide the platform, but otherwise play no part in the configuration or day to day operations of the business.
A. We’ve sold 18 ATMs total so far, have delivered 11, and have 6 actively operational*
A. We are on the cusp of “officially” announcing our first 1-way only unit, codenamed “Satoshi1” which will cost $7,500 and run on the same exact software platform as the Genesis1, minus cash withdrawal functionality. The production model will come stock with one bill acceptor, but can accommodate up to two potentially supporting cash-in of two different currencies simultaneously. It also features a 21” screen which provides ample space for branding, customization, or even advertising.
A. I’ve been told we have the best backend management interface in the industry, and we are extremely open to custom implementations and focus on agile development. Do you run your own exchange? Give us an API, and we’ll integrate it. The flagship Genesis1 offers 2-way functionality with bank-grade technology at a price almost 30% less than the competition. Our approach to operations are also quite different — we are not interested in building Genesis Coin as a crypto-kiosk brand. We view ourselves as a software company creating solutions for other companies to build and market their own unique brands.
*Soon you will be able to find Genesis1 and Satoshi1 ATMs all over the place, but for now, some places where the Genesis1 can be found around the world:
Last modified: January 10, 2020 2:06 PM UTC