Topic: How to install a Bitcoin ATM in my city? - page 2. (Read 996 times)
As for Russia, Sberbank and Alfabank (they are the largest banks) are very interested in penetration blockchain technologies into everyday life. I think they will start this business direction, including ATM, in the near future.
This problem actually involved with many things related to the goverments then technology at all, first you have to ask the permission of your goverment first then things will be very easy like setting up a normal fiats ATM.
First of all there should be proper legislation for such activities. And when it would be allowed in this or that country, banks will be the leading players in such business.
Proper registration and licenses are obviously needed, but banks currently by far aren't the leader in this segment. I only know of a Slovenian bank that made it possible to also buy Bitcoin through their regular ATMs.Eventually, this will be the way to go for banks, where by that time they will completely demolish the third party ATM market. It's an ultimate form of convenience to buy Bitcoin from your own local bank ATM.
If the bank works with its own reserves, it will even be able to dramatically decrease the fees involved, which is something regular ATMs can't and won't be doing. Why else would they run an ATM, just for fun?
First of all there should be proper legislation for such activities. And when it would be allowed in this or that country, banks will be the leading players in such business.
WoW I didn't knew that my thread is still actual here and I thank all of you for your suggestions and opinions. I have got necessary info about the point and I will gladly inform you guys in nearly future about my final decision.
This kind of business may seem profitable and unique because of not so much people got involved in it. From first few comments you have got some necessary links to see what and how, as I see. But I think you need to creat a whole business plan to count all variants, cause of if you are from a small country with small population, like from jungle picture, your costs for installing on ATM will probably will never get return. Good luck!
If it is not a fulltime business where you rely solely on it, then you can experiment. The tech, I am not sure where you can find or buy an ATM. We have one near my city which also has ETH and LTC. Don't forget the volatility when you compute for profitability.
In my country, I don't ever see any bitcoin atm machine that own by a bitcoin enthusiasts or any bitcoin atm machine that directly operated by the bitcoin management. There's a possibilities of bitcoin machine once a certain country accept bitcoin business and used as a legal tender or assets. But so far in my country, the government remain silence about the circulation of bitcoin. I don't ever heard any bad reactions of my loving president about bitcoin business, so let us wait if the bitcoin ATM will be soon implemented in different places all over the world. For me, ATM machine of bitcoin is too much risky, because criminals are too much attracted on that particular business, they can easily attack to their targets.
I don’t know if it is easy to do such a thing, cause I think you will need a lot of money to carry out such a thing. It’s very risky from the way I see it, if an individual like you is going to be the one to do it. Maybe you should get a group that will assist you in doing so. But you need a lot of capital..
I just saw the weirdest place to have an ATM where you would never expect to see one ever in your life! 
Out in the jungle....
In the middle of nowhere!
Wow you made my dawn, it's a province I guess. That place province / jungle is even luckier than mine in the city because I haven't seen that there's any near bitcoin ATM here. Though I know that there's one existing in other place in my country but I can't travel that long. You may contact the exchanges locally that are operating in your country and ask them to create one but for a country that prohibits bitcoin? this is tough. Out in the jungle....
In the middle of nowhere!
Very Good info shared by forum friends thanks ATM is one of the best way to get profit but in my opinion you will need dealing with good exchange and also prior permission from your state authorities.
Months back due to the increased transaction fee collected on atm units, people started to avoid ATM usage completely. In this regard large number of atm's were taken back by the company. By this time implementation of bitcoin atm won't be that profitable. Better is to think of something unique.
I just saw the weirdest place to have an ATM where you would never expect to see one ever in your life!
Out in the jungle....
In the middle of nowhere!
Out in the jungle....
In the middle of nowhere!
If you're planning to expand more your business and make an ATM in your city, that might be a good idea. But, before you will install the ATM machine make sure that the government of yours allows it because as you can see, many countries banned bitcoin and it sounds good if your country is open for bitcoin especially your government.
I really want to install ATM bitcoin in my city to facilitate my transactions so I do not need transactions through other countries then newly disbursed into Rupiah currency.
However, unfortunately, bitcoin in Indonesia is forbidden even I hear the problem that bitcoin in Indonesia will be strictly prohibited and Indonesians who use bitcoin as a business or investment can not transact with bitcoin anymore. Is there a solution to this problem that I experienced?
Installing ATM is a good idea but I think that you will find no supporter in your city specially in such places were the bitcoin users are few because it is a new thing and people will not welcome it because if they have no bitcoins such ATM will be of no use for them. If you have users then you try to install a Bitcoin ATM. But the government recognition is also mandatory. It is not so easy to install bitcoin ATM in your city. However, unfortunately, bitcoin in Indonesia is forbidden even I hear the problem that bitcoin in Indonesia will be strictly prohibited and Indonesians who use bitcoin as a business or investment can not transact with bitcoin anymore. Is there a solution to this problem that I experienced?
it is very interesting if its in my city bitcoin ATM. this is very good idea until now how much bitcoin holders capacity in this country is it possible the government let it ..? this can be a big market for bitcoin.dan facilitate to transact ...
I really want to install ATM bitcoin in my city to facilitate my transactions so I do not need transactions through other countries then newly disbursed into Rupiah currency.
However, unfortunately, bitcoin in Indonesia is forbidden even I hear the problem that bitcoin in Indonesia will be strictly prohibited and Indonesians who use bitcoin as a business or investment can not transact with bitcoin anymore. Is there a solution to this problem that I experienced?
Installing ATM is a good idea but I think that you will find no supporter in your city specially in such places were the bitcoin users are few because it is a new thing and people will not welcome it because if they have no bitcoins such ATM will be of no use for them. If you have users then you try to install a Bitcoin ATM. But the government recognition is also mandatory. It is not so easy to install bitcoin ATM in your city. However, unfortunately, bitcoin in Indonesia is forbidden even I hear the problem that bitcoin in Indonesia will be strictly prohibited and Indonesians who use bitcoin as a business or investment can not transact with bitcoin anymore. Is there a solution to this problem that I experienced?
ATMs are possible only with the permission of the state. Legally they are installed only in Japan
a very good idea, but in any case you need a development team, an investor, and connections with the ATM BCM!
Bitcoin is decentralized and the government has nothing to do with bitcoin and they may not allow you to install ATM in your city. The big problem is the users if there is no user in your city then installing ATM will not be a good idea. Users are mandatory to use ATM for their transactions. I would like to advise you to invest in bitcoin besides installing an ATM in your city. You will make more money from your investment.
a very good idea, but in any case you need a development team, an investor, and connections with the ATM BCM!
Bitcoin is decentralized and the government has nothing to do with bitcoin and they may not allow you to install ATM in your city. The big problem is the users if there is no user in your city then installing ATM will not be a good idea. Users are mandatory to use ATM for their transactions. I would like to advise you to invest in bitcoin besides installing an ATM in your city. You will make more money from your investment. Jump to: