Topic: Can I open up a local shop and sell bitcoins for cash? - page 3. (Read 4788 times)
If you are planning on opening a bitcoin shop in your country, get it registered and expect to pay tax just like any other business owner.
Read this: http://www.dob.texas.gov/money-services-businesses
Your answer is there.
Your answer is there.
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I'm wondering if I can open up a local shop and sell bitcoins for cash without paperwork or signing anything.
EDIT: Of course there will be lots of paperwork. You would need to follow AML (anti-money laundering) and KYC (know your customer) laws. Every penny would need to be documented, every customer verified. 
I would say its going to be based on the situation of things of in your country of residence. Over here, I see it as something not really advisable because of the awareness is still low and also give room for unnecessary exposure from law enforcement agencies who are most likely ignorant about Bitcoin to conclude that it is illegal thereby lead to series of embarrassment but hopefully soon, the situation might change.
If you do it all by yourself then your assets might get frozen if not comply with gov regulations, though you can as long as you get cash in person and not by paypal or other services.
as still no one country give clear statement about bitcoin that either it is legal or illegal currency, therefore you can normally use it for being undefined status but if you are going to open a shop just for the purpose to do exchange of bitcoin it may be a problem as you have to give a statement about you r business which you are going to run in a shop but as bitcoin is not a legal business therefore they will not allow you for but i i think you can do it as mobile shop having no need to register with government and to take NOC from government. I'm wondering if I can open up a local shop and sell bitcoins for cash without paperwork or signing anything. Sure a bitcoin ATM can fulfill that role but as a shop I could do other things such as sell bitcoin merch etc, offer information on bitcoin and cryptos etc, but primarily I'm wondering if I can sell bitcoin for cash without hassling customers with paperwork. I suppose the laws would be the same for an ATM machine? which I haven't heard to be of a legal problem. I'd be considering doing this in Texas, USA, by the way. Any references or shared knowledge would be great, and I'm less interested in speculation. Thanks!
You should be extremely cautious when doing that. Delve into the law of your country and prepare. Many anti-money-laundering offices see bitcoin as an effective means of hiding and secretly transferring large amounts of illegally obtained value.
Yes you can easily open your shop if your government is not against bitcoin and they will allow you for that but first of all you will need to promote bitcoin to every person in your area and you will need to motivate them to use bitcoin after that you will get your profit.
Without sign in it is not possible because if someone will buy bitcoin from you then you will need to sign in to your wallet in order to make the transaction without signin there is no any other way that you transact the bitcoins.
i think yes but for this you need to put for this you have to take permission the government. and they will not give you permission as bitcoins is not a legal currency of the world.
If you do it all by yourself then your assets might get frozen if not comply with gov regulations, though you can as long as you get cash in person and not by paypal or other services.
yes you can really do it and there is nothing wrong with this, but if your government is not creating problems for you, then you can really do it without any doubt.
If bitcoin is allowed in your country then you can do that job easily without any difficulty but try to open that shop in that area where you feel that the number of bitcoin users are more higher.
If your opening a shop to sell bitcoin I think you will need a permit for it. But if your a small time seller or you only sell small amount on your spare time and not opening a phisical shop, I think you can sell without need a permit for it.
but if bitcoin is not legal in an area then how can you get the permit for it from the government, in my area you can open a shop without taking any permission from the government. so i think it will be really appreciable if you start such kind of business, as it will be good for both you and for the customers. In the USA you need a money transmitter license for every state you operate in. A little bit of info, this license is roughly $1000 per state and if you don't have the license and get caught laundering money that's a prison sentence and one hell of a fine.
If your opening a shop to sell bitcoin I think you will need a permit for it. But if your a small time seller or you only sell small amount on your spare time and not opening a phisical shop, I think you can sell without need a permit for it.
but if bitcoin is not legal in an area then how can you get the permit for it from the government, in my area you can open a shop without taking any permission from the government. so i think it will be really appreciable if you start such kind of business, as it will be good for both you and for the customers. 
I'm wondering if I can open up a local shop and sell bitcoins for cash without paperwork or signing anything. Sure a bitcoin ATM can fulfill that role but as a shop I could do other things such as sell bitcoin merch etc, offer information on bitcoin and cryptos etc, but primarily I'm wondering if I can sell bitcoin for cash without hassling customers with paperwork. I suppose the laws would be the same for an ATM machine? which I haven't heard to be of a legal problem. I'd be considering doing this in Texas, USA, by the way. Any references or shared knowledge would be great, and I'm less interested in speculation. Thanks!
I dont think anyone would be interested to go to your shop to buy bitcoin when he/she can buy it online much easily and quickly.Bitcoin is not a physical commodity which people should examine before buying so going to shop to buy it is uselessBit if it is marketed correctly I believe it can turn out to be a successful business and very profitable.
I'm wondering if I can open up a local shop and sell bitcoins for cash without paperwork or signing anything. Sure a bitcoin ATM can fulfill that role but as a shop I could do other things such as sell bitcoin merch etc, offer information on bitcoin and cryptos etc, but primarily I'm wondering if I can sell bitcoin for cash without hassling customers with paperwork. I suppose the laws would be the same for an ATM machine? which I haven't heard to be of a legal problem. I'd be considering doing this in Texas, USA, by the way. Any references or shared knowledge would be great, and I'm less interested in speculation. Thanks!
I dont think anyone would be interested to go to your shop to buy bitcoin when he/she can buy it online much easily and quickly.Bitcoin is not a physical commodity which people should examine before buying so going to shop to buy it is useless
What about if he opens a shop outside of the united states and in a country that does not have any problems such for the ones that have been brought up.
The IRS will probably look at BTC as "property", while other forces in the Gov't will say you are dealing in "money".
Good luck, and please let us know how it works out.
Good luck, and please let us know how it works out.
yes you can do that and it will be one of the most profitable business, you will collect a fixed amount from the customers as exchange services, and i usually convert my bitcoin using Urdu bit who easily exchange the bitcoin in t our fiat currency .
If your opening a shop to sell bitcoin I think you will need a permit for it. But if your a small time seller or you only sell small amount on your spare time and not opening a phisical shop, I think you can sell without need a permit for it.
yes no doubt about this, you can really do this, but if your government give you permission and secondly that if you think that there are good number of bitcoin users in your area, then you can really open a shop.
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