How to install a Bitcoin ATM in my city? - page 4.

stomachgrowls

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Quote from: MyIdeas on December 20, 2017, 06:44:32 PM

Quote from: blitz18 on December 20, 2017, 03:15:35 AM

Quote from: CyberR. on December 19, 2017, 10:18:19 AM

Quote from: greeklogos on November 27, 2017, 12:54:39 PM

Hello everybody! I am thinking to start my own business and I though that maybe an installation of the first Bitcoin ATM in my city would be good idea which can bring me good income. But I have no idea from where to start, so I am here to hear all ideas, experience and advices.
Thank you!

In order to set-up a Bitcoin ATM in your city, the very first thing you got to make sure is that Bitcoin is legally recongnized in your country to avoid any legal prosecutions in future.

Next, You can check out https://localbitcoins.com/atm/order-your-own-bitcoin-atm
Localbitcoins offer Bitcoin ATM which will cost some initial investments.

Goodluck with the project

As far as I know before you can install Bitcoin ATM it must recognize first by the government. Yes there is a process and documents to be signed by the government in order to approve the request. So once you have followed the process it can be installed.

Most of the governments are reluctant in providing these facilities to the people. Even if see towards china, which is a super power and has a very strong hold on the economy of the world, is not letting its people to have these facilities, but the best thing is that despite all the bans and restrictions, the people who want to invest can do the investments from any part of the world. The crypto part is really providing security to everyone involved.

That's part of the reality which there are really country which would really be totally disagree with this kind of actions or investment of some individual this is why its really important for you to ask on local lawyers if its not prohibited or not before you would put up those ATM and also consider the level of adoption into your place so that your atm would generate some good profits as an owner.Installing isn't really bad as long you do have the money to buy on and your country doesn't really have any restrictions towards it.

eann014

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Quote from: greeklogos on November 27, 2017, 12:54:39 PM

Hello everybody! I am thinking to start my own business and I though that maybe an installation of the first Bitcoin ATM in my city would be good idea which can bring me good income. But I have no idea from where to start, so I am here to hear all ideas, experience and advices.
Thank you!

It is really hard to start if you have any idea at all, first you also need some research on your own. Make a lot of research and read a lot to know more how to start that kind of business.

ronafurw

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Quote from: CyberR. on December 19, 2017, 10:18:19 AM

Quote from: greeklogos on November 27, 2017, 12:54:39 PM

Hello everybody! I am thinking to start my own business and I though that maybe an installation of the first Bitcoin ATM in my city would be good idea which can bring me good income. But I have no idea from where to start, so I am here to hear all ideas, experience and advices.
Thank you!

In order to set-up a Bitcoin ATM in your city, the very first thing you got to make sure is that Bitcoin is legally recongnized in your country to avoid any legal prosecutions in future.

Next, You can check out https://localbitcoins.com/atm/order-your-own-bitcoin-atm
Localbitcoins offer Bitcoin ATM which will cost some initial investments.

Goodluck with the project

There is no place in my country where I can use my bitcoin because most of the people are still unaware of bitcoin and it will take some more time for them to invest are use bitcoin as their regular currency and for their shopping. Then it may possible that the management also installs ATM machines in my country and the big markets start accepting bitcoin as their payments. I will have to wait for some more time for ATM to be installed in my locality.

nelsledma

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Quote from: Kingofbitcoin12345 on December 19, 2017, 01:23:33 AM

I’ll admit that i don’t totally know anything about this kind of businesses can exist or be manage by just an individual without big company backing it up and the central banks permission.. This is a huge gamble especially considering the risk of unknown effect of bitcoin unstable price and how does it should be updated every minute for it.. So take time to think a hundred times and gather information regarding this before doing such action..

Bitcoin ATM is not prevailing all over the world because many people still do not have bitcoin or they even do not know about bitcoin. When all the people have bitcoin then ATM is not a problem. The controllers and management of bitcoin will provide you this service in your home city, because ATM is for withdrawing bitcoin and if you do not have bitcoin then why they should install ATM?

MyIdeas

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Quote from: blitz18 on December 20, 2017, 03:15:35 AM

Quote from: CyberR. on December 19, 2017, 10:18:19 AM

Quote from: greeklogos on November 27, 2017, 12:54:39 PM

Hello everybody! I am thinking to start my own business and I though that maybe an installation of the first Bitcoin ATM in my city would be good idea which can bring me good income. But I have no idea from where to start, so I am here to hear all ideas, experience and advices.
Thank you!

In order to set-up a Bitcoin ATM in your city, the very first thing you got to make sure is that Bitcoin is legally recongnized in your country to avoid any legal prosecutions in future.

Next, You can check out https://localbitcoins.com/atm/order-your-own-bitcoin-atm
Localbitcoins offer Bitcoin ATM which will cost some initial investments.

Goodluck with the project

As far as I know before you can install Bitcoin ATM it must recognize first by the government. Yes there is a process and documents to be signed by the government in order to approve the request. So once you have followed the process it can be installed.

Most of the governments are reluctant in providing these facilities to the people. Even if see towards china, which is a super power and has a very strong hold on the economy of the world, is not letting its people to have these facilities, but the best thing is that despite all the bans and restrictions, the people who want to invest can do the investments from any part of the world. The crypto part is really providing security to everyone involved.

Clark05

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I dont know also how insta bitcoin atm because it's hard. I think it's only bank can install bitcoin atm. In my country they have bitcoin atm machine. But the transaction ia fee is very high and that's not good so if you want to install you can lower the fee so many user of bitcoin will use your bitcoin atm. Goodlucm sir I hope you install your bitcoin atm.

ajqjjj

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Quote from: AjithBtc on December 19, 2017, 02:05:56 AM

It's good to find an ATM Service provider, make an enquiry and then do the necessary process. Because I don't think it is that easy to implement an bitcoin atm independently without any support system. It's better to contact BCM ATM or some services similar to that which will provide the ease of implementing.

Countries like Japan and UK you will find bitcoin ATM already out up there. If you do not find any legal issues with concern location you need to have the ATM means you should be investors who is affordable for machine in the ATM.
LBC and some other providers in online are always available to help you make this.
You cannot able to invest for setup go for the bitcoin debit card service which can be useful on the regular ATM machines too.

blitz18

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Quote from: CyberR. on December 19, 2017, 10:18:19 AM

Quote from: greeklogos on November 27, 2017, 12:54:39 PM

Hello everybody! I am thinking to start my own business and I though that maybe an installation of the first Bitcoin ATM in my city would be good idea which can bring me good income. But I have no idea from where to start, so I am here to hear all ideas, experience and advices.
Thank you!

In order to set-up a Bitcoin ATM in your city, the very first thing you got to make sure is that Bitcoin is legally recongnized in your country to avoid any legal prosecutions in future.

Next, You can check out https://localbitcoins.com/atm/order-your-own-bitcoin-atm
Localbitcoins offer Bitcoin ATM which will cost some initial investments.

Goodluck with the project

As far as I know before you can install Bitcoin ATM it must recognize first by the government. Yes there is a process and documents to be signed by the government in order to approve the request. So once you have followed the process it can be installed.

CyberR.

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Quote from: greeklogos on November 27, 2017, 12:54:39 PM

Hello everybody! I am thinking to start my own business and I though that maybe an installation of the first Bitcoin ATM in my city would be good idea which can bring me good income. But I have no idea from where to start, so I am here to hear all ideas, experience and advices.
Thank you!

In order to set-up a Bitcoin ATM in your city, the very first thing you got to make sure is that Bitcoin is legally recongnized in your country to avoid any legal prosecutions in future.

Next, You can check out https://localbitcoins.com/atm/order-your-own-bitcoin-atm
Localbitcoins offer Bitcoin ATM which will cost some initial investments.

Goodluck with the project

AjithBtc

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It's good to find an ATM Service provider, make an enquiry and then do the necessary process. Because I don't think it is that easy to implement an bitcoin atm independently without any support system. It's better to contact BCM ATM or some services similar to that which will provide the ease of implementing.

Kingofbitcoin12345

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I’ll admit that i don’t totally know anything about this kind of businesses can exist or be manage by just an individual without big company backing it up and the central banks permission.. This is a huge gamble especially considering the risk of unknown effect of bitcoin unstable price and how does it should be updated every minute for it.. So take time to think a hundred times and gather information regarding this before doing such action..

akamit

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Quote from: greeklogos on November 27, 2017, 12:54:39 PM

Hello everybody! I am thinking to start my own business and I though that maybe an installation of the first Bitcoin ATM in my city would be good idea which can bring me good income. But I have no idea from where to start, so I am here to hear all ideas, experience and advices.
Thank you!

I don't know if you have already checked or not, I would like to inform you that localbitcoins also offers bitcoin atm system.
You can check it here > https://localbitcoins.com/atm/order-your-own-bitcoin-atm

Quote from: supermine on December 11, 2017, 12:25:51 AM

I don't think bitcoin ATM is a good idea because we all have bitcoins in our mobile phones then why we need to go to ATM?
If we want to buy bitcoins also it can be done in the internet by just sitting in the home,bitcoin machine is very expensive equipment so you need huge investment for it.

Atm can be very useful for fast cash if someone needs it urgently.
So I think its a better option to have atm facility in your city, in your area, near you. Roll Eyes

1Referee

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Quote from: paulGems on December 18, 2017, 11:29:47 AM

Running a Bitcoin ATM machine is a good business idea. However, you need to figure some core issues such as regulations in your city or state. In many jurisdictions you need to get special licenses like MSB or others in order to conduct such a business. The location of the ATM machine will also be critical to your success. the list of top 5 bitcoin ATM location types according to the stats we collect on the site: Restaurant/pizzeria, Cafe/coffeeshop/gelateria, BTC embassy / company office, Shopping mall, Supermarket / food store / Deli.

It actually isn't. BATM's are only viable if you have plenty of them in various crowded locations that are experiencing a constant level of usage. As you mentioned in your post, it requires you to comply with so many rules/regulations, where you need to obtain the proper licenses, etc, which all costs a massive amount of money. I remember having read how just getting the right licenses could cost up to millions, which is something the far majority of the people don't even have. In case you managed to obtain everything needed, you have invested millions of dollars that might take years and years (if ever) for you to gain back. Instead of pumping money into this non viable 'idea', you are far better off putting that money straight into Bitcoin.

jeanne19

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i used youtube and found 0 final results best things is to pay for developer and they will made it for you

carlfebz2

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Quote from: greeklogos on November 27, 2017, 12:54:39 PM

Hello everybody! I am thinking to start my own business and I though that maybe an installation of the first Bitcoin ATM in my city would be good idea which can bring me good income. But I have no idea from where to start, so I am here to hear all ideas, experience and advices.
Thank you!

Is there any updates regarding into this if op did able to make his plans on putting or installing bitcoin atm in the city? Actually no one would really stop you to do such thing as long bitcoin isn't prohibited on your country then you should be fine no matter how many bitcoin atm machines you would install and the most important thing you are the first one to install then roi would really depend on how many bitcoin users residing on that place or on how adoption would grow.

paulGems

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Running a Bitcoin ATM machine is a good business idea. However, you need to figure some core issues such as regulations in your city or state. In many jurisdictions you need to get special licenses like MSB or others in order to conduct such a business. The location of the ATM machine will also be critical to your success. the list of top 5 bitcoin ATM location types according to the stats we collect on the site: Restaurant/pizzeria, Cafe/coffeeshop/gelateria, BTC embassy / company office, Shopping mall, Supermarket / food store / Deli.

WINS

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in my opinion first you need to ask permission from local authorities Wink

Qartersa

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Quote from: greeklogos on November 27, 2017, 12:54:39 PM

Hello everybody! I am thinking to start my own business and I though that maybe an installation of the first Bitcoin ATM in my city would be good idea which can bring me good income. But I have no idea from where to start, so I am here to hear all ideas, experience and advices.
Thank you!

Better check out the leading bitcoin ATMs around, but I would be careful with these as a lot of these bitcoin ATMs are just made by small companies and security wise that's not really good. A lot of these are just some kind of garage manufactured type of things and if you want to secure yourself from hackers then you should reconsider. Another thing is that a lot of these bitcoin ATMs are sold in the US and some parts of Europe, and they are huge! You better be prepared for the shipping cost of these.

Rinsend

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this is a good idea.
but to get started, you have to join a bitcoin exchange company where you live,
because it will be very inconvenient if you will move yourself.
it is certain you will be able to earn substantial income

supermine

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I don't think bitcoin ATM is a good idea because we all have bitcoins in our mobile phones then why we need to go to ATM?
If we want to buy bitcoins also it can be done in the internet by just sitting in the home,bitcoin machine is very expensive equipment so you need huge investment for it.

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