BitKey is a bootable system image based on Debian containing everything you need to perform highly secure air-gapped Bitcoin transactions.You don't need to install it to a hard drive because it runs live from RAM.You just write the ISO image to a USB drive or burn it to CDROM.Under the hood it contains a swiss army knife of handy Bitcoin tools that support a wide range of usage models, including a few very secure ones which would otherwise be difficult to perform.We created BitKey because we wanted something like it for our own use.We're avid Bitcoin fans but after going to our first local Bitcoin meetup we discovered the elephant in the room was that there was no easy way to perform cold storage Bitcoin transactions where the wallet lives on an air-gapped system physically disconnected from the Internet.The idea was to see if we could use the TurnKey GNU/Linux build system to create a self-contained read-only CD/USB stick with everything you need to perform Bitcoin transactions with as much security as you wanted - including highly secure air-gapped Bitcoin transactions.

We've documented several common use cases right on this website's usage section.Click on the various boot modes for instructions.Air-gapped systems raise the bar because they are physically prevented from communicating with the Internet.mit bitcoin handelnThat prevents an attacker that doesn't have physical access from actively attacking the computer and/or remote controlling it.bitcoin asic companiesBut like all other security measures air-gaps are no silver bullet, especially when you don't trust the system behind the air-gap.chess for bitcoinThere are many ways an evil air-gapped system can betray its user, including creating bad transactions and smuggling out secret keys via covert channel (e.g., USB keys, high frequency sound, covert activation of Bluetooth/wifi chipset, etc.)litecoin pool wallet

Not if you don't want to, or if you just don't need the extra security.BitKey also works online in two modes: cold-online and hot-online.See the usage section for details.At one extreme, using BitKey in just the right way is currently the closest you can get to perfectly secure Bitcoin transactions (without doing them in your head).bitcoin faucet rollEven when you use BitKey in the most insecure mode possible (e.g., hot-online) it still provides better security than 99% of Bitcoin users are getting from their web wallets and Bitcoin phone apps.bitcoin nvidia teslaIf the theft of hundreds of millions of dollars worth of Bitcoin from the Bitcoin exchanges has left you, like us, with a healthy sense of paranoia, then you'll want to use BitKey in the most secure way possible in which case nobody in the world is getting better security for their Bitcoin transactions.bitcoin wallet electrum

In terms of pricing and availability, BitKey is free and runs on ubiquitous general purpose computers.In terms of security, it can provide equivalent or better security than a hardware wallet, depending on how you use it.spend bitcoin dcIn terms of convenience it's hard to beat a hardware wallet.bitcoin 100 cnbcUsing BitKey to implement the most paranoid, trust-minimized workflows provides superior security at the price of not being as easy to use.For an in-depth analysis, read the discussion with Trezor developer Tomas Dzetkulic (better security than Trezor?)and judge the pros and cons for yourself.Not if you're careful.In fact, if you have reason to worry we encourage you not to trust BitKey.In the words of our dear leader: trusted third parties are a security hole.As a Bitcoin swiss army knife BitKey supports many usage models.

What's interesting is that this includes at least one use case which doesn't require you to trust BitKey at all.We call it the If I tell you I'll have to kill you usage model.It provides almost perfect security even if BitKey itself is rotten to the core.Also, if you don't trust the binary version, you can always build BitKey from source.We understand that people routinely trade off security for convenience, otherwise they wouldn't get anything done.We recognize that there is an inescapable trade off between convenience and security and that risk is proportional to the value of your wallet.So it doesn't make sense to enforce any specific trade off.We want BitKey to help make the most paranoid usage model practical for day to day use but at the same time, we want to let the user decide how high (or low) to raise the bar.It should be your choice.There's room for improvement.Mostly in terms of improving the usability and reducing the potential for human error.

Also, adding support for locally attached printers so you can print paper wallets.But for a solution to be useful it doesn't need to be perfect, just better than the alternatives for some use cases.Unfortunately, the problem is many people currently using Bitcoin don't understand the risks they are taking and place too much trust on incredibly insecure solutions such as web based Bitcoin wallets, accessed from a general purpose PC that is installed, configured and used by a person who is not and will never be a security expert.That might be OK for very low value wallets that you wouldn't mind losing but beyond that it is very foolish.According to our bitcoin ATM industry stats, there is a growing number of bitcoin ATM installations worldwide.If someone wants to run his own bitcoin ATM or install a bitcoin machine at existing local business, what are the main points to check and decisions to make beforehand?The following article tries to answer these questions.

With all developments in Bitcoin area over last couple of years one thing became more prominent — regulation.Bitcoin ATM business is not an exception.In many jurisdictions you need to get special licenses like MSB or others in order to conduct such a business.Running a bitcoin ATM without complying with law might end up bad.So the main point to start investigating in case you would like to run a bitcoin ATM — is the legal framework for such activities in your region.If you are in U.S.— the following two articles written by Aaron Williams could be a good starting point: Bitcoin ATM regulation 101 and 102.Legal framework really depends on your location, so consult with a local lawyer first.While running a bitcoin ATM on your own might require a lot of investment in legal field, e.g.creating your KYC/AML compliance policy, obtaining proper legal licenses, there is still a cheaper way — find existing bitcoin ATM operator in your area, approach and suggest a collaboration, so that you work under their legal licenses umbrella.

In order to find operators around you — check our bitcoin machine locations map, for majority of listings operator information is provided.In order to operate a bitcoin ATM you need to have a bank account.There were some ideas to build an “unbanked” bitcoin ATM, however, it is more of a nice to have solution, but not practical nowadays (there are some bitcoin machines with bill recyclers, but no special software available which will dynamically define the buy/sell prices based on cash/bitcoin balances, also local demand is limited, and bitcoin ATM has a very small user-base compared to online services accessible everywhere, which might result in wrong price discovery at particular machine).By having a buy only bitcoin machine — you definitely will need to organize cash delivery to the bank, and make wire transfers from bank account to exchange in order to replenish bitcoin balance.The reality is that not many banks wish to have customers related to any “bitcoin business”.So it is good to check available options in advance and the best practice to have several relationships to eliminate the potential risk of closing account by one bank.

As an example, the bitcoin ATM operator in New Zealand had to close his business due to lack support from bank sector, although the company was compliant with all legal requirements.If you are the owner of a brick-n-mortar business — this is not a question to consider as you probably would like to place it at your location.Placing a bitcoin ATM might increase foot-traffic to your store and this is additional revenue stream for the shop.According to information from other owners who installed a bitcoin ATM, it can increase sales up to 10-30% because of new customers, who come to use a bitcoin ATM.If you are a local business owner who wants to have a bitcoin ATM, but doesn’t want to have all the hassle with running a machine — you can also approach operators close to you and suggest your location.From private discussions with operators — it is always hard to find a good bitcoin-friendly location, so highly probable you can find someone who will put a bitcoin ATM in your store.

However, if you plan to run a bitcoin ATM yourself, you need to find a good location for it.Important factors to consider are: traffic volume, availability/accessibility (easy way to find, public location), open hours (the longer the better), business type.Here is the list of top 5 bitcoin ATM location types according to the stats we collect on the site: So all are mostly high-traffic businesses, where people go daily.The next question is which bitcoin ATM type to chose.There are broad categories like one-way or two-way, for example.So if you would like not only to allow customers to buy bitcoins, but also sell bitcoins then you need to look for a more expensive two-way solutions.According to the number of installations worldwide — 42% of all bitcoin machines are two-way, and 58% are one-way only.According to information from operators, there is not an even split between buy and sell operations at the moment with pure dominance of buy operations (90% buy vs.10% sell on average).

However, during huge price swings, e.g.recent one in October 2015, the user behavior might change a lot.Many operators reported fall in volume of buy bitcoin operations, and sell operations increased drastically (making volume ratio of about 50/50).So not to lose opportunities on the harsh market it is better to provide both options, however, in “normal” times just a one-way bitcoin ATM can provide a steady income as well.We are still in the “enter bitcoin” phase for average Joe.Here is a list of top bitcoin ATM providers on the market at the moment, which can be recommend.All of the providers have a long tracked positive history on the market: Price-wise the cheapest are General Bytes for one-way solution and BitXatm for two-way machine.However, the features may vary and it is really required to look at all options to choose a proper one that will fit your needs.Robocoin and Skyhook although have a substantial number of installations worldwide are no more recommended due to business risks associated with the companies behind.

In order to start new business one needs to do profitability calculation in advance and have at least rough business plan.CoinATMRadar provides a Bitcoin ATM profitability calculator by using which you can easily define approximate costs and calculate ROI with detailed report.There are two blog posts avaialble with more advanced info: theoretical profitability calculations and real examples of how much volume do bitcoin ATMs bring to operators at different locations.The following are average metrics on the market (based on discussion with operators): So to set it up probably some average values can be used initially.In order to attract users operators might suggest lower rates, sometimes even 0% commission.In this case you need to find a way to buy cheap bitcoins, e.g.directly from miners with discount.When you run a bitcoin ATM it is very important to provide best services to customers.Operator has to monitor whether machine is operational and bitcoin funds are in place etc. Negative publicity spreads pretty quickly.