BTC ATM's installation and business model, any advice? - page 2.

ozoro

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Quote from: fiulpro on February 15, 2020, 09:17:38 AM

Okay , you need to think about something first.
The fee should be a lil less as compared to the online fee when you sell the bitcoins to someone because that is what will make people use it more.
At the same time there have been problems with the ATM when the person transferred the money but had to wait a lot lot more than the normal waiting time therefore you do need to thinking about solving such kinds of problems instantly.
It is rather a good idea but you need to improve the existing idea of Bitcoin's ATM .

This is a good point, I'll ensure that there is always coin available for immediate transfer, the rates will be competitive, customers probably won't be able to buy massive amounts, both for security purposes and in line with KYC/AML and statutory reporting limits.

fiulpro

hero member

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Merit: 831

Okay , you need to think about something first.
The fee should be a lil less as compared to the online fee when you sell the bitcoins to someone because that is what will make people use it more.
At the same time there have been problems with the ATM when the person transferred the money but had to wait a lot lot more than the normal waiting time therefore you do need to thinking about solving such kinds of problems instantly.
It is rather a good idea but you need to improve the existing idea of Bitcoin's ATM .

andulolika

legendary

Activity: 2310

Merit: 1047

Quote from: Lucius on February 15, 2020, 08:53:40 AM

ozoro, in this case I can only say that Google is your friend, and that you can find a lot of relevant information on the internet. However take all the information with caution, because some are perhaps outdated and I believe that as in every business, in the sale of crypto ATM machines, there are scammers. I think one of the most important factors is the choice of location and protection of the device itself.

How to Start a Bitcoin ATM Business + Buy Bitcoin ATM

Seems to me they making bank with it and they costing quite a bit, the crypto-visa is quite nice eventho a bit sad it probably just dumps the bitcoin to anyone.

Lucius

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Blackjack.fun-Free Raffle-Join&Win $50🎲

ozoro, in this case I can only say that Google is your friend, and that you can find a lot of relevant information on the internet. However take all the information with caution, because some are perhaps outdated and I believe that as in every business, in the sale of crypto ATM machines, there are scammers. I think one of the most important factors is the choice of location and protection of the device itself.

How to Start a Bitcoin ATM Business + Buy Bitcoin ATM

andulolika

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Activity: 2310

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I has nothing on my recent bookmarks, I'll need to investigate a bit later when i feel like it, anyhow i think prices were up to 2k$ for one and cheaper versions existing.

ozoro

jr. member

Activity: 39

Merit: 6

Quote from: yazher on February 15, 2020, 07:09:42 AM

Quote from: ozoro on February 15, 2020, 06:55:09 AM

I am UK based and looking to setup a BTC ATM, initially just one or maybe two locations, I'd rather not lease or take on a franchise, but run a machine myself. Has anyone any experience in this?, where's a good place to buy the actual machines? - I've seen a range of prices from US to China, how is easy is the software setup? I know the turnover question is difficult to answer but selling small amounts of SATs, can one location sell up to 1 btc per day?, any other things I should be aware of? BTW am pretty much clued on local laws in the UK.
Thanks in advance

Since you are installing it in the UK, the best thing to do is first go for the reachable nodes of the current network to find a place where you can suitable put your Bitcoin ATM machine. I think one of the sites can give you such information is https://bitnodes.earn.com/nodes/?q=United%20Kingdom

Just see for yourself if this kind of idea would help you.

This interesting? but what's the advantage? do I have to be physically close to a node?.....the top node in the link is 450 miles from me!! I am in process of setting up my own node in any case. Will my own node help in the business model, I was just setting it up to have my own node and help the protocol.

ozoro

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Activity: 39

Merit: 6

Quote from: andulolika on February 15, 2020, 06:57:33 AM

Quote from: ozoro on February 15, 2020, 06:55:09 AM

I am UK based and looking to setup a BTC ATM, initially just one or maybe two locations, I'd rather not lease or take on a franchise, but run a machine myself. Has anyone any experience in this?, where's a good place to buy the actual machines? - I've seen a range of prices from US to China, how is easy is the software setup? I know the turnover question is difficult to answer but selling small amounts of SATs, can one location sell up to 1 btc per day?, any other things I should be aware of? BTW am pretty much clued on local laws in the UK.
Thanks in advance

Ugh, no idea about regulations, I will try searching bout some nice ATMs I seen a while ago but it was few operative systems back so probably lost.
Anyhow leasing or taking on franchise isn't a good idea imho. Good luck and cheers for making bitcoin easy.

On a side note I'm waiting for my crypto visa, the atm's won't be doing very well as soon as these visas start proliferating.

Thanks for that, please post anything you find. Yep, I can't see the value in leasing or franchising, there are couple of players in the UK space who offer free installs and you generally charge them a rent....that's not for me, I want to get my hands dirty. I've had legal advice on the UK position. Think my real problem is equipment, software and judging market potential

yazher

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Quote from: ozoro on February 15, 2020, 06:55:09 AM

I am UK based and looking to setup a BTC ATM, initially just one or maybe two locations, I'd rather not lease or take on a franchise, but run a machine myself. Has anyone any experience in this?, where's a good place to buy the actual machines? - I've seen a range of prices from US to China, how is easy is the software setup? I know the turnover question is difficult to answer but selling small amounts of SATs, can one location sell up to 1 btc per day?, any other things I should be aware of? BTW am pretty much clued on local laws in the UK.
Thanks in advance

Since you are installing it in the UK, the best thing to do is first go for the reachable nodes of the current network to find a place where you can suitable put your Bitcoin ATM machine. I think one of the sites can give you such information is https://bitnodes.earn.com/nodes/?q=United%20Kingdom

Just see for yourself if this kind of idea would help you.

andulolika

legendary

Activity: 2310

Merit: 1047

Quote from: ozoro on February 15, 2020, 06:55:09 AM

I am UK based and looking to setup a BTC ATM, initially just one or maybe two locations, I'd rather not lease or take on a franchise, but run a machine myself. Has anyone any experience in this?, where's a good place to buy the actual machines? - I've seen a range of prices from US to China, how is easy is the software setup? I know the turnover question is difficult to answer but selling small amounts of SATs, can one location sell up to 1 btc per day?, any other things I should be aware of? BTW am pretty much clued on local laws in the UK.
Thanks in advance

Ugh, no idea about regulations, I will try searching bout some nice ATMs I seen a while ago but it was few operative systems back so probably lost.
Anyhow leasing or taking on franchise isn't a good idea imho. Good luck and cheers for making bitcoin easy.

On a side note I'm waiting for my crypto visa, the atm's won't be doing very well as soon as these visas start proliferating.

ozoro

jr. member

Activity: 39

Merit: 6

I am UK based and looking to setup a BTC ATM, initially just one or maybe two locations, I'd rather not lease or take on a franchise, but run a machine myself. Has anyone any experience in this?, where's a good place to buy the actual machines? - I've seen a range of prices from US to China, how is easy is the software setup? I know the turnover question is difficult to answer but selling small amounts of SATs, can one location sell up to 1 btc per day?, any other things I should be aware of? BTW am pretty much clued on local laws in the UK.
Thanks in advance

Topic: BTC ATM's installation and business model, any advice? - page 2. (Read 323 times)