Unbank.World BTM Company: Monthly Manhattan Revenue Exceeds US$270,000

Emilio Pagan-Yourno says he has a strong drive to succeed, which is why he decided to create the first company to place Bitcoin ATMs (Bitcoin transaction machines, or BTMs) in New York, Vermont and New Hampshire.
In the beginning, he had the idea to ‘just put these machines all over.’ He explains:
‘My initial thoughts were that each machine in Manhattan would make around US$8,000 [per month]. Those were my predictions about a year ago, when I first got the idea to just put these machines all over. They’ve exceeded that. Manhattan is a huge area for Bitcoin. It’s funny because there are more people that buy Bitcoin from the ATM than there are businesses that accept Bitcoin.’
Pagan-Yourno is in his last semester at Marist College in Poughkeepsie, NY, studying information technology systems, a major that he calls ‘simple.’ He says he’s been ‘bored since his sophomore year.’ The boredom led him to seek ways to keep himself busy doing things that were interesting.
First, he took a job with the state in 2013 as a Human Resource Information Systems (HRIS) administrator. He incorporated his company, PYC, Inc., in April 2014 and installed his first BTM in Albany, NY, in June. He quit the state job in August, after working there for a year, when he decided to run his business full-time.
He is in the process of rebranding under the name Unbank. World. (The website is scheduled to launch in time for the introduction of two new BTMs on February 16.) He says the new name means to him ‘what Bitcoin means’ to him:
‘It’s the easiest way to store money on the internet without going through banks.’
The company currently has five machines in four cities – two in Manhattan, and one each in Albany, Burlington and Manchester. He uses both Skyhooks and Lamassus, and has four more machines on the way (another in Manhattan, plus one each in Brooklyn, Saratoga, and Schenectady).
CoinTelegraph asked Pagan-Yourno to talk about what it’s like to own a successful BTM business and to be the first in his area to do so.

This post was published at Coin Telegraph on 2015-02-10.