Robocoin is in the hot seat these days, with operators globally rebelling against the company’s new 2.0 “wallet” software and increased AML/KYC requirements being forced on all who own and run the machines. In addition, new (and old) software bugs have wrecked havoc on the attached hardware, such as the bill acceptor, touchscreen and other peripherals within the machine. Some operators have reported a more than 90% drop in revenue since the introduction of the 2.0 software. This appears to be the breaking point after several years of poor software and support from the company.
To add insult to injury, Robocoin appears to have stepped on the toes of its own operators by releasing a global Bitcoin wallet solution in version 2.0 (and hence the onerous AML/KYC requirements), directly competing with those operators that had developed wallets of their own.
After rumors surfaced that Robocoin was in arrears for payments to their hardware platform provider (Turnkey Kiosks), they announced that they would be shifting business focus to provide Bitcoin ATM software to existing ATM manufacturers. Here at BitcoinATM360 have received reports that Robocoin is no longer accepting orders or delivery of new machines.
Robocoin operator options
An option for operators looking to regain control of their business and Robocoin is to install a 3rd party kit and software that bypasses the Robocoin proprietary systems all together.
Jordan Kelley, CEO of Robocoin has stated publicly that they have no issues with, nor will they seek to block 3rd party systems that are installed in the Robocoin, saying “We support the competition – it’s great for the market. We’re neither upset nor hold a grudge.” Source.
As well, he publicly gave the OK on a Decentral Talk Live vlog.
Robocoin replacement systems
General Bytes has a ‘Robocoin fix kit‘ that includes a new processing board that replaces the proprietary Robocoin internals, accessing the Turnkey Kiosk installed systems directly (not a hack of the existing Robocoin hardware) and software. The kit has been verified to run on both the Robocoin Branch and Robocoin Classic platforms with full two way functionality and access to all functions of the machines (sans palm scanner, which no one liked in the first place).
The General Bytes work around is currently running in several countries (and across as least 13 Robocoin machines) and has received rave reviews from those that have made the switch, including reports that the hardware issues seen previously are no longer plaguing operators, leading to less support requests and dispatches.
To purchase the hardware/software kit, simply order from the General Bytes website for about $1000.
Lamassu worked with Robocoin operator SatoshiPoint in the UK to modify its software to function on the Robocoin platform as well, but this project seems to no longer be available as the only e-mail account to order it simply bounces now. It appears that SatoshiPoint is now running the General Bytes kit. We have heard that another manufacturer was porting their software, but have yet to release any public information on it.
The final option is to sell your Robocoin. There are still operators that will purchase a functional Robocoin and others looking to simply acquire the units as a barebones kiosk to install one of the 3rd party kits or software listed above (the Turnkey Kiosk platform is quite nice), but the aftermarket value is quite low these days, sometimes up to 75% or more off the value when new.
BitcoinATM360 can help, from determining a price, finding a buyer, to finalizing the transaction.
BitcoinATM360 is an enterprise solution company operating in the BitcoinATM space. Whether you are looking to purchase a new or used Bitcoin ATM, sell a Bitcoin ATM that is no longer in service or need help with an existing operation, feel free to reach out to us at any time at [email protected].