Building Bitcoin ATMs - page 4. | Bitcointalksearch.org

Saoha

full member

Activity: 742

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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.

I have been looking forward to this for a long time. Your intentions are very good and helpful. I regularly sell my BTC but it is quite difficult because there are so many scamers, high transaction fees and when I sell btc on Remitano I always lose 0.0005 btc fee for them.
Really hope your project will succeed, because bitcoin is becoming more and more popular, so the number of people trading bitcoin has increased tremendously.

davis196

hero member

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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.

Bulding ATMs isn`t cheap and you have to be sure that there is demand for bitcoin ATMs in your country.
I don`t think that the "build and sell" business model would work.Your cusomers will have to trust you about the quality of the ATMs.What if they don`t work properly?It`s very hard for a brand new business to build trust.
The "build and operate" business model is better for brand new companies in the bitcoin ATM business.
Good luck.

DevelopmentBank

full member

Activity: 406

Merit: 110

Quote from: DebitMe on October 26, 2017, 08:52:11 PM

You should probably hire a lawyer instead of random people on the internet. You also should really post your country and other pertinent information such as what you really want to develop as "bitcoin ATM" is pretty general. A lot depends on how the machine actually operates.

Thanks for your response. We are just actually gathering as much information as we can and we of course are going through local channels.

We want to avoid dealing with lawyers and government regulations and that is why we actually just want to build and sell, not operate. Selling hardware/software doesn't need much permits/licenses.

DebitMe

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Get Paid Crypto To Walk or Drive

You should probably hire a lawyer instead of random people on the internet. You also should really post your country and other pertinent information such as what you really want to develop as "bitcoin ATM" is pretty general. A lot depends on how the machine actually operates.

DevelopmentBank

full member

Activity: 406

Merit: 110

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.

Topic: Building Bitcoin ATMs - page 4. (Read 2355 times)