Building Bitcoin ATMs - page 2. | Bitcointalksearch.org

mamesso

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Quote from: MrCrank on November 05, 2017, 12:58:32 AM

Do you think Bitcoin ATMs will be popular?
I don't think.. because many peoples prefer buy bitcoin via exchange online.
I read that Bitcoin ATMs exist already

ATM is an amenity, I think everyone will love it. and I heard in europe that bitcoin ATM is being produced, this is a new breakthrough and I really support it.
at the beginning may not be popular only time will give answer.

MrCrank

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Do you think Bitcoin ATMs will be popular?
I don't think.. because many peoples prefer buy bitcoin via exchange online.
I read that Bitcoin ATMs exist already

IAMYOURLEADER

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ATM is going to be useful rather than falling in line and waiting for the cashier to process everything for a cash withdrawal. It's much easier and very convenient.

okala

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I think it is a good idea and most of us who like the advent of bitcoin and blockchain technology will likely using the ATM In our verious countries. You will just need to create good marketing strategy for it in other to make it big in this your plans business. Many Africa countries are in need of such ATM as regulations in africa is not as strong as United States of America or China.

mdfahim

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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?

STRAKS

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Bitcoin only or will you consider other digital currencies?

maydna

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Quote from: madwica on November 03, 2017, 04:58:11 AM

Quote from: donmiguello on November 02, 2017, 06:45:13 PM

where i live anyone can get a ATM in their house , you will only pay a small tax.

Yes all people have freedom to build own ATM but me i do not like to build my own bitcoin ATM if there is ATM already in my area, but here in my country there is ATM but i do not know where is the location but the demand is to high in my area because lots of people now are earning and using bitcoin and some of them have no bank accounts that is why they are hardly to cash out their bitcoin that is why bitcoin ATM is more needed in my area.

i think if people in your city have the bitcoin ATM then they will easy to deposit and withdraw their bitcoin into fiat and i think its a good news that in your country have the machine. i think if there is a high demand to using the machine, then maybe soon there will be more bitcoin ATM in your city and it helps your people to cash out their bitcoin. beside that, if in your city is success from using the machine, i think the other country will using the machine too and we can see bitcoin ATM will be available in every where.

madwica

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Quote from: donmiguello on November 02, 2017, 06:45:13 PM

where i live anyone can get a ATM in their house , you will only pay a small tax.

Yes all people have freedom to build own ATM but me i do not like to build my own bitcoin ATM if there is ATM already in my area, but here in my country there is ATM but i do not know where is the location but the demand is to high in my area because lots of people now are earning and using bitcoin and some of them have no bank accounts that is why they are hardly to cash out their bitcoin that is why bitcoin ATM is more needed in my area.

Kakmakr

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Quote from: Vigovski on October 27, 2017, 06:02:02 AM

there is no regulation for it and wont be a problem.
You can just open a shop in the country and put your own atm machines inside and this shop will be just claiming to selling online products.

Simple

You are wrong. There are loads of AML/KYC regulations to consider and this will even affect your design. If you live in a country where you have to adhere to these AML/KYC regulations, then you have to add certain features. A camera and scanner would be needed to collect the photo ID or social security documents or facial photos of the person, depending on what would be needed to adhere to these regulations.

So it is not as straight forward as most people would have thought. ^hmmmmm^

Rahar02

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I've seen such some similar threads which planned to build or sell bitcoin ATM machine.
Bitcoin ATMs are on high demand in US, Canada, and Russia. It's a good project if you can build a lot of ATM machines which comply with AML and KYC regulations, in order to prevent any problem for you and your customers in the future. Well, it's not easy to sell a machine outside the country, but I recommend to do so as you may find another market with high demand as well.
https://news.bitcoin.com/bitcoin-atms-rise-russia/

donmiguello

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where i live anyone can get a ATM in their house , you will only pay a small tax.

olympuslabsbc

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I think a lot of people would be interested in using your product! Keep gathering info and good luck!

KingScorpio

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Quote from: DevelopmentBank on October 26, 2017, 08:47:46 PM

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.

why BTC ATMS and not Crypto ATMS?

i mean BTC isnt great at all.

high transaction costs etc.

SharenThayer556

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this is really interisting but so hard to do, good luck team

J. Cooper

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If you already have a quite successful business that attracts a reasonable amount of clients and you won't depend on revenue generated from the ATM. Then I would certainly take the plunge and go for it. But if your entire business model is built around the ATM or you would be dependent on the revenue it generates than I would be a little more cautious. Your revenue heavily depends on how many bitcoin enthousiast you have in your city, if it's a big city etc.

Coollikethat

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The competition in the Bitcoin ATM manufacturing business is extremely competitive. If you are building them for your own use is one thing. To sell on the open market is another. Be prepared to go up against some very well financed competition.

error08

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Quote from: Bitcoin ATM Project on October 27, 2017, 09:21:37 AM

There is a big need for Bitcoin ATMs - they do currently exist but not enough. About 1600 worldwide, and 900 some in the United States. And out of these, barely any support additional crypto, or the ability to sell (they are mostly buy Bitcoin only) - and most have crazy high fees (10-25%). We already started a movement to change that (https://www.coinspeaker.com/2017/10/24/bitcoin-atm-project-token-pre-sale-now-open/). Building them is a great idea, most companies today sell them for a lot, and if you added additional currency support you would be way ahead of the game.

You've planned to sell it in USA? and offering token pre-sale to build more ATM machines?
This Bitcoin's ATM machine comply with AML and KYC regulations? as every service relate to money, have to fulfill legal permit and licenses, even though it's not affected your business directly, but no one would buy this machine if they have to deal with legal authority.

Lanatsa

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Quote from: blockman on October 30, 2017, 05:10:26 PM

Quote from: carlfebz2 on October 28, 2017, 10:13:17 AM

Quote from: blockman on October 28, 2017, 06:39:05 AM

Quote from: DevelopmentBank on October 26, 2017, 08:47:46 PM

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.

Why are you only considering to do build and sell those ATM machines. If you are one of the pioneers on Lamassu to have that type of business, the competition will not be tough to you. But expect that there will be competitors that are going to come out when they see that your business has no competitor. I'm curious about the current research that you are doing. Could you share us on what are your gathered information base on your plans and research?

This is right if I do have the knowledge and the resources on bitcoin atm's then this would really give you some serious fortune and as being said you wont really have any competition knowing that bitcoin isn't known yet globally or on most countries on the world which if there are some several bitcoin users on your place then it would be an advantage.Later on selling out or exporting these atms will extent possible income.

There's no manipulation, no competition and why not take over the whole business industry of having an ATM all over Lamassu. But if they are a start up company, it's also good to take the risk for covering all ATM's on the places where they started to conduct researches. Profit for generating transactions of Bitcoin ATM + being a manufacturer itself of those ATM's that will also entertain international orders, why not give it a try right?

No one can really stop them if they would really like to try on their business offline. Its always worth to face the risk since this is business after all.If you wont try you wont able to find out if it would have the potential to make it big.Covering all atms on the places will just really act as a test phase same as you said this will like conduct research if it do have some spark or not. If they do have the capability and resources. Why not? It really worth to try talking on bitcoin is already growing larger and larger as the years have passed and these business will really boom up.

kpcian

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Obviously, Bitcoin ATM is a great initiative for this era. day by day Bitcoin is getting popular and established currency so that when the Bitcoin holders will find the ATM then they will be glad to take this opportunity. But I think Bitcoin ATM is not an easy task, it requires a lot of approval for establishing ATM method. But you have to consider many things in terms of this project.

blockman

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Quote from: carlfebz2 on October 28, 2017, 10:13:17 AM

Quote from: blockman on October 28, 2017, 06:39:05 AM

Quote from: DevelopmentBank on October 26, 2017, 08:47:46 PM

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.

Why are you only considering to do build and sell those ATM machines. If you are one of the pioneers on Lamassu to have that type of business, the competition will not be tough to you. But expect that there will be competitors that are going to come out when they see that your business has no competitor. I'm curious about the current research that you are doing. Could you share us on what are your gathered information base on your plans and research?

This is right if I do have the knowledge and the resources on bitcoin atm's then this would really give you some serious fortune and as being said you wont really have any competition knowing that bitcoin isn't known yet globally or on most countries on the world which if there are some several bitcoin users on your place then it would be an advantage.Later on selling out or exporting these atms will extent possible income.

There's no manipulation, no competition and why not take over the whole business industry of having an ATM all over Lamassu. But if they are a start up company, it's also good to take the risk for covering all ATM's on the places where they started to conduct researches. Profit for generating transactions of Bitcoin ATM + being a manufacturer itself of those ATM's that will also entertain international orders, why not give it a try right?

Topic: Building Bitcoin ATMs - page 2. (Read 2355 times)