Bounty: How to buy and operate Bitcoin ATM in US

in #atm • 5 years ago

Hey guys I am looking into buying and running a Bitcoin ATM.

Does anyone know how to best go about this?

Any valuable hints are welcome!

#bitcoin #steem-bounty
5 years ago in #atm by
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    • [-]
     5 years ago 

    @knircky has set 15.000 STEEM bounty on this post!
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     5 years ago 

    Congratulations to the following winner(s) of the bounty!

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       5 years ago 

      I don´t know how deep your knowledge is on this matter, but I´m going to leave you some interesting and usefull links for you to read about this subject.

      They cover the first steps and what you need to know and be alert when deciding to start running a BTC ATM:
      1- The first link explains you "how to start": It goes from Regulation, Bank relationships, Location, Bitcoin ATM type, ...
      2- This one allows you to understand if it would be profitable or not for your concrete situation. It talks about more than 10 factors that will affect your return on investment.
      3- This last one is a full page of interesting links redirecting you for future research if you want to go deeper...

      1- https://coinatmradar.com/blog/how-to-start-a-bitcoin-atm-business/
      2- https://coinatmradar.com/blog/revenue-and-costs-of-running-a-bitcoin-atm/
      ROI calculator, just in case: https://coinatmradar.com/roi/bitcoin_atm_business_return_on_investment/
      3- https://coinatmradar.com/how-to-start-bitcoin-atm-business/

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       5 years ago 

      A couple factors to answer your question i'll try to make it as simple as possible.

      1. having a good business plan.
      2. check your countries regulations.
      3. Talk to your bank.
      4. secure a good location with high foot traffic.
      5. Choose the BTM type and manufacturer: There are one-way and two-way BTMs. The latter allows customers to sell bitcoin for cash as well as buy bitcoin, but they are more expensive.
      6. Plan for customer support, and maintenance.
      7. If you're looking to run it solo. or with a partner also bring in other factors, like payment sharing, it would make it easier for you to also keep it running due to responsibility sharing, just make sure you think these things through carefully.
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       5 years ago 

      Hey @knircky,

      i have only one tip,
      This company was the first in Austria who stand up BTC ATM for many years, I don't know if they work in America, but i think they can help you with contacts! Here is the website:

      https://www.kurant.at/en/become-a-partner/

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       5 years ago 

      Used to know someone who knew someone but I don't anymore. Maybe @black-man could help

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       5 years ago 

      Unfortunately I don't know the practical side but I will ask around as Manchester in England used to have 2 atms although they are closed now I think. Suppose us will have different laws too. Good luck it's a cool idea!

      Posted using Partiko Android

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        [-]
         5 years ago 

        On October 29, 2013, Waves Coffee Shop in Vancouver, Canada, opened the world's first Bitcoin exchange machine, they, more than anyone, must have the experience to conceive the idea and contact them.

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        [-]
         5 years ago 

        The companies that offer the service and the bank for the ATMs, are already involved in this technology, it is not something new, they have to evolve with the technology, the services provided and the necessary technological applications.

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        [-]
         5 years ago 

        In where I live we have a very tight control on the market of crypto atms so if I want to install a crypto I must lease it from the company.
        However in the states I think you could get one here
        As far as I know they do not lease, but completely sell it to you and also can provide you with all the legalities you need to know about it

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          [-]
           5 years ago 

          I am interested to hear why you want to buy one.

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