How PowerCoin Uses Security Tools to Protect Bitcoin ATMs
Updated: May 23, 2022
Criminals looking for an easy payday have targeted ATMs since the first terminal was installed. While most consumers see ATMs as tools to obtain cash from their checking account, criminals see ATMs as boxes filled with cash.
So, it comes as no surprise Bitcoin ATM (BTM) robberies are on the rise. While not highly publicized, probably because there are considerably more ATMs than BTMs installed worldwide, the media has begun reporting on BTM crime.
It was recently reported that Spanish police are investigating the theft of a Bitcoin ATM from a shop on Beethoven Street in an affluent Barcelona neighborhood. Closer to home, in a smash and grab robber a Silicon Valley liquor store BTC was targeted by thieves in October and in January a Kentucky gas station’s BTM was stolen.
While no BTM or ATM can be 100% secure from criminals and fraudsters, PowerCoin uses industry best practices to protect the BTM in your business. And, if the machine is targeted, our stringent internal compliance and controls allow us to easily identify perpetrators and turn this information over to the authorities, so that criminals can be identified and caught.
Physical Security
To ensure the BTM is protected against physical attacks, PowerCoin only uses level 1 rated vaults in our durable powder coated steel kiosks, the highest quality Kaba Mas electronic locks and PCI-certified and Triple-Des (TDES) compliant keypads. In addition, the BTM is bolted to the ground to make it extremely difficult for criminals to remove from the location.
Electronic Security
PowerCoin BTMs all have a high-definition cameras and each customer who uses the machine is photographed, in keeping with AML (Anti-Money Laundering) and KYC (Know Your Customer) regulations. This information allows us to provide the police with vital details that help with any investigation.
Talk to a PowerCoin representative to learn more about how our attractive and secure BTMs can increase traffic, and help you differentiate your business from the competition by offering a high-demand product.
Give us a call at 888.971.3116 or email us at sales@powercoinco.com