Sep 18, 2018
Considerations for Connectivity for Bitcoin ATMs
Today, there are now over 3,500 bitcoin ATMs installed and operational around the world (CNN). Like other ATMs, Bitcoin ATMs require proper connectivity to function correctly. So how can you ensure you're choosing the best connectivity for your Bitcoin ATM? Today we'll be discussing the key factors in fast, reliable connectivity for your ATM.
If you find the concept of Bitcoin complex, you are not alone. It's often a topic of confusion for most people. Put simply, Bitcoin is a type of digital currency that uses encryptions to regulate the generation of units of currency and verify the transfer of funds (NY Times).
Before we get into choosing effective connectivity, it's important to understand how a Bitcoin ATM works. Once a customer puts money into a Bitcoin ATM, the machine dispenses a small paper QR code, which looks like a barcode. That code is then scanned to a mobile app, which boosts the customer's bitcoin balance by the deposited amount.
This type of digital transaction requires connectivity that is fast and secure. With the cost of Bitcoin continuously on the rise and the demand for more Bitcoin ATMs needing deployment, there are many factors to consider before choosing a connectivity provider.
Here are 10 factors to consider when choosing a connectivity provider:
- Uptime. It's important to get connectivity that you know can stay on with little to no downtime.
- Reliability. You'll want to have trust that whoever you choose will provide reliable connectivity with world-class support to ensure your device's success.
- Online Dashboard. Be sure to choose a provider that has a customer portal designed to help you manage your devices.
- Reboot. Being able to reboot your devices remotely is vital to saving you time and money. Rather than having to send an employee to the location, many issues can be solved by simply restarting the machine if a remote switch is used.
- Carrier Options. Having multiple carrier options ensures that you'll get the best connectivity, wherever you are.
- Security. Make sure your device is connected to a secure, private network to protect it from hackers and scanners.
- Pricing. Every business has a different dynamic and it's important to go with a provider that can customize a plan to fit your business needs and budget.
- Warranty. In the event that your equipment breaks or has issues that need to be repaired, it's important that the provider has a warranty program to replace that equipment.
- API Capability. This is especially important to those who want multiple functionalities from their connectivity provider. APIs allow you to integrate your system with theirs.
- Support. Be sure to find out the level of support available through your provider. Are they 24/7? Do you have a dedicated account manager?
These are all critical factors to consider before choosing a connectivity provider for your Bitcoin ATM. You'll need a company that can keep up with the rapid function of Bitcoin.
For more information on reliable connectivity providers, click here.