It is not going to be that simple. you should consult a lawyer before doing anything and know more about regulations even if you plan buying your machines only since your customers have to trust you.
Everything should be regulated since you are going to sell sophisticated machines to customers from different countries with different regulations.
Topic: Building Bitcoin ATMs (Read 2355 times)
You can consider a peer to peer ATM like ABRA offers. Even merchant chain store like 7-11 could potentially be your ATM partner.
That is a good idea.As bitcoin popularity increases atm machines are also helpful to have easier process and more accessible means in terms of transactions.Hopefully those machines can operate in our country too ,especially on the different provinces of the Philippines.
Having a bitcoin atm machine is more convenient way to cash out aside from those remittance centers and banks who accepted bitcoin transactions because of its availability 24/7. So I am really looking forward for the success of your proposed project.Hopefully it will be a success.Good luck to you!
Having a bitcoin atm machine is more convenient way to cash out aside from those remittance centers and banks who accepted bitcoin transactions because of its availability 24/7. So I am really looking forward for the success of your proposed project.Hopefully it will be a success.Good luck to you!
My friends and I are considering building bitcoin ATMs. We're still doing the necessary research and planning and we've been looking at existing ATMs like Lamassu. Based on what they've been reporting online (and other sources), it seems to be a pretty profitable business.
We understand that there are lots of regulations involved depending on the country of residence, but we are considering just building and selling the machines, not operating them. Off the bat, are there any other important considerations we should know? Red flags? Any feedback will be appreciated.
ATMs which help to cash bitcoin now are very popular. I don't know as it becomes at the legislative level. However, in Ukraine and Russia there are already such ATMs We understand that there are lots of regulations involved depending on the country of residence, but we are considering just building and selling the machines, not operating them. Off the bat, are there any other important considerations we should know? Red flags? Any feedback will be appreciated.
It requires a lot of capital to build a wide network, a kind of satellite is needed to use an ATM.
and what about the price fluctuations of BTC and Altcoin.?
I do not understand the concept of this ATM.
and what about the price fluctuations of BTC and Altcoin.?
I do not understand the concept of this ATM.
Before seilling a bitcoin ATM, you should consider a strong customer service support. That is the number one rule when building a business specially in bitcoin. They are more valuable than gold! You also have to keep an eye with ATM skimming activity and 2FA option would be awesome! Use google authenticator or text message.
For now i think bitcoin ATM is not in demand yet because not all people used bitcoin but this is one good thing to advertised bitcoin.
I heard some news that here in my area there are Bitcoin ATM here in our country but i do not know where is the exact location of the ATM.
I think much better to have bitcoin bank first before building ATM.
I heard some news that here in my area there are Bitcoin ATM here in our country but i do not know where is the exact location of the ATM.
I think much better to have bitcoin bank first before building ATM.
Bitcoin ATMs would give bitcoin investors and holders access to their funds. This will be a great achievement if accomplished. Wish you all the best
Plenty of bitcoin atms will sure exist in the future so I don't think you'll get much profit with just building and selling them. You should own and run them because banks will surely make dozens faster and you can't sell it to anyone anymore.
Are there any in the Cheshire area? Is there a site or locator online?
The number of ATMS Bitcoin ( BTM) is growing every day, so does the number of ... Build a good relationship with the bank be important ...
I don't think that you would need to build a good relationship on banks since they wont really bother and I would rather believe that tax department would really be the one who would really come after you but yet if you do have this kind of business then paying up tax completely shouldn't really be a problem at all. Competition would really be lesser considering that bitcoin isn't too familiar by most countries or places on the world.
They are profitable, but it wont make you rich quick.
Don't rush into it.There are some good expenses.. gl
Don't rush into it.There are some good expenses.. gl
That's probably complicated and huge project although there are already Bitcoin ATMs in different cities in Australia and will be more throughout the world. I think you're making another one that compete these ATMs that has been deployed. You're going to make a research on them and try to figure out what are the problems they're facing and how they solve different issues.
My friends and I are considering building bitcoin ATMs. We're still doing the necessary research and planning and we've been looking at existing ATMs like Lamassu. Based on what they've been reporting online (and other sources), it seems to be a pretty profitable business.
We understand that there are lots of regulations involved depending on the country of residence, but we are considering just building and selling the machines, not operating them. Off the bat, are there any other important considerations we should know? Red flags? Any feedback will be appreciated.
We understand that there are lots of regulations involved depending on the country of residence, but we are considering just building and selling the machines, not operating them. Off the bat, are there any other important considerations we should know? Red flags? Any feedback will be appreciated.
You still need to look at the regulation because it is still a business and then make a study first if there are already people/company who are doing this or if you will be the first one. It would be a good business especially if you will be able to get in contact with the one who will operate them. With an increasing bitcoin users but with limited bitcoin ATM available in their place at the moment, this would be a good opportunity to bring on that business. It is better thereafter if you can have clients in several countries if you will be able to implement this one.
It will be a great idea .People will love this one.It wll change the huge differene in crypto digital curency. If it happens all the people are very familiar with crypto.
It is possible to build bitcoin atm’s. People who do not know about Bitcoin and how it works will now be curious and it is also one way of advertising Bitcoin. 😊
Bitcoin atms are not so far from us now, yeah there definetely needs for some exchange giant come ahead and work on it.. down the line in 2k18 we will see it happening!! You guys thoughts?
Bitcoin is a virtual currency and if its gets into a physical form will it have the same value like it s now or will it take the form of the physical currency which is already there in every country has their own. It would be interesting to watch will the physical coins be send out form the ATM machines or will the codes be given and they can use those coupon code unto certain value which they withdraw.
the main thing that will crush your idea is that transaction of BTC can last 3 or more hours.... I think that noone is gonna to stay near ATM for 3.5 hours
I don't think so. As long as that transaction is made, you can leave the atm and and check it later if you have received it.
is really a good idea on having a bitcoin atm.. currently now most ppl have btc so i think is a good idea to it.
the main thing that will crush your idea is that transaction of BTC can last 3 or more hours.... I think that noone is gonna to stay near ATM for 3.5 hours
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