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Payments for Canadian Bitcoin ATM operators.

Bitcoin ATM operator payments in Canada run through one Invincible Pay wallet, from carrier deposit to restock. Your carrier sends the cash total in by EFT, and one EFT to your liquidity provider restocks your Bitcoin.

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Video: how money moves for a Bitcoin ATM operator, from the machine to the restock

Here's how money moves through Invincible Pay for a Bitcoin ATM operator. Take Beacon Point. It owns Bitcoin ATMs where people insert cash and get Bitcoin from Beacon Point's own stock.

At the machine, the customer inserts cash, and the Bitcoin comes straight from Beacon Point's stock. When it's time, an armoured carrier collects the cash from every machine. It counts the cash, deposits it at its own bank and sends the total by electronic funds transfer. Beacon Point's wallet has its own banking details, so that transfer lands straight in the wallet.

Cash from every machine ends up in the same wallet while the Bitcoin stock runs low. Now it's time to restock. Straight from the wallet, Beacon Point sends one electronic funds transfer to its liquidity provider. Once the payment lands, the liquidity provider sends back fresh Bitcoin, ready for the next customer at the machine.

That's how Invincible Pay works for Bitcoin ATM operators. Getting the cash from your machines into your account shouldn't be the hardest part of running Bitcoin ATMs. Let Invincible Pay handle it, from carrier deposit to restock.

The company names and amounts in this video are examples.
Cash inCarrier depositsEFT inOne walletEFT outBitcoin backHow money moves

Why Bitcoin ATM operators struggle to get their cash back

A Bitcoin ATM business sells Bitcoin for cash, one customer at a time. Getting that cash back into the business shouldn't be the hardest part of running Bitcoin ATMs.

  1. Cash and crypto in one business

    Your machines take cash and sell Bitcoin. A typical bank finds crypto difficult, and the cash makes it harder still.

  2. Nowhere for the carrier to send it

    Your armoured carrier deposits the cash at its own bank, then needs somewhere to send the total by EFT. Without that, the money from your machines is stuck.

A wallet your carrier can pay into

Your wallet has its own institution, transit and account numbers, so the carrier's EFT lands straight in it. When the stock runs low, one EFT to your liquidity provider restocks every machine.

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For your armoured carrierActive
Institution
123
Transit
12345
Account
123456789
Example numbers. Your wallet gets its own.

From the machine to the restock

Follow one carrier run. The cash and the Bitcoin never touch your wallet; the Canadian dollars between them do.

  1. At your machines

    Customers buy Bitcoin with cash

    A customer inserts cash and gets Bitcoin from your own stock. The cash stays in the machine until your carrier collects it.

    Outside Invincible PayCash and Bitcoin change hands at the machine.
  2. Your armoured carrier

    The carrier counts and deposits

    Your armoured carrier collects the cash from every machine, counts it and deposits it at its own bank.

    Outside Invincible PayYour carrier handles the physical cash.
  3. EFT to your wallet

    The total lands in your wallet

    The carrier sends the total by EFT to your wallet's deposit details. It typically arrives in 1 business day.

    EFT receivedDeposited
    $23,670.00Carrier run, Oct 23
  4. Your wallet

    Every machine in one balance

    Each carrier run adds to the same wallet, so the money from all your machines is in one place when it's time to restock.

    Wallet balanceCAD
    $64,210.00
    From 3 carrier runs this week
  5. One EFT

    Pay for the restock

    Send one EFT to your liquidity provider for all your machines. If you need the Bitcoin sooner, send a same-day wire.

    EFT sentSent
    $60,000.00To your liquidity provider
  6. Your liquidity provider

    Fresh Bitcoin for your machines

    Once your payment lands, your liquidity provider sends fresh Bitcoin for the next customer. We don't handle the Bitcoin itself.

    Outside Invincible PayBitcoin moves between you and your liquidity provider.

What we'll ask a Bitcoin ATM operator

Before your carrier's first deposit, we'll ask about your machines, the carrier and where your Bitcoin comes from.

See our pricing

We'll set up the carrier deposits with you.
  • Your FINTRAC registration as a money services business that deals in virtual currency.
  • Your machines: how many you run, and where they are.
  • Your armoured carrier, and how it deposits the cash it collects.
  • Your liquidity provider, and how often you restock.
  • Your AML compliance program: the current policy, and how you identify customers at your machines.
  • Your directors and owners: each director, officer and owner of 25% or more verifies their identity online.

From application to first payment

1About 20 minutes

Apply online

Tell us what your business does and how money moves through it.

2Usually within 3 business days

Get approved

Our compliance team reviews your file and tells you if anything is missing.

3Within 5 business days

Start processing

Your wallet and deposit details are live, and your first payments can move.

Crypto OTC desks restock the same way, with one EFT to the liquidity provider. If you run cash ATMs as well, see payments for ATM operators.

Your wallet fills as your Bitcoin runs low

Carrier deposits build up your balance through the week. When the stock at your machines is low, one EFT pays your liquidity provider for fresh Bitcoin.

  1. Mon Carrier deposit, EFT received+$21,600.00
  2. Wed Carrier deposit, EFT received+$18,940.00
  3. Fri Carrier deposit, EFT received+$23,670.00
  4. Fri EFT sent to your liquidity provider−$60,000.00
  5. Mon Fresh Bitcoin arrives at your machines
An example week with three carrier runs. How often your carrier collects, and how much you restock, will differ.

Questions from Bitcoin ATM operators, from carrier to restock

No. Your armoured carrier collects and deposits the cash, and your liquidity provider sends the Bitcoin. We handle the Canadian dollars in between, from carrier deposit to restock.
Yes. Your wallet has its own institution, transit and account numbers. Your carrier sends the cash total by EFT to those details, and it typically arrives in 1 business day.
With one EFT from your wallet for all your machines, typically in 1 business day. If the Bitcoin has to come sooner, a wire to a provider in Canada arrives the same day.
No. Your customers only deal with your machines: they insert cash and get Bitcoin. The wallet is for your business, to take the carrier's deposits and pay for each restock. See how we work with other crypto businesses.
Applying takes about 20 minutes. You usually get a decision within 3 business days, and your carrier can deposit within 5, once we have your documents.

Run your Bitcoin ATMs from one wallet

Tell us how many machines you run and who carries your cash. We reply within 24 hours on business days.

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