Bounty: How to buy and operate Bitcoin ATM in US

diogosantos (62) · 6 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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miltonlopez (39) · 6 years ago

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

having a good business plan.
check your countries regulations.
Talk to your bank.
secure a good location with high foot traffic.
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.
Plan for customer support, and maintenance.
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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https://www.kurant.at/en/become-a-partner/

reiseamateur (68) · 6 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:

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2 votes

fredkese (69) · 6 years ago

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

steemingmark (55) · 6 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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3 votes

rosauradels (65) · 6 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.

jorgebgt (72) · 6 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.

blind-spot (70) · 6 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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wakeupkitty (76) · 6 years ago

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

sipahikara (63) · 6 years ago

First of all, you have to settle the laws and tax issues in that country. There are serious obstacles to this in my country. I'm from Turkey. If you take care of this, you can start working at Genesis Company by taking an ATM.

abasinkanga (61) · 6 years ago

Buying a bitcoin ATM will be the difficult part, operating it shouldnt be a problem. However for the US, you will need to check the state you are in and their laws concerning bitcoin. Some states in the US are bitcoin friendly, while some are unfriendly...
I think once you have that checked out, google will help you locate bitcoin ATM manufacturers, then you can see for yourself if you can make single purchase or you need to buy a bulk amount...
Best of luck in getting your ATM machine set up and running. Cheers!

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cloudblade (69) · 6 years ago

I have not been to the United States, I heard that there are Bitcoin ATMs there.
In my country, buy Bitcoin is at the convenience store's ibon electronic machine. In my country, Bitcoin is one kind point card , it is like game point card~~

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marleyn (59) · 6 years ago

I've heard that it's very profitable, although I do not know anything about it

mariluna (71) · 6 years ago

oh waoo interesting good my country venezuela works a lot with crypto but we still do not have a bitcoin box very good initiative the truth I am not aware of it ..

steemsense (51) · 6 years ago

Seriously!? A bitcoin ATM? What do you want to do with that? I think its a pretty expensive venture to venture into. U need to count your costs, is there a need am meeting?
It would make more sense to talk with a bitcoin ATM company, to have them setup one on your business premises or where it is needed and agree with them on modalities of its operation. This will relieve you of a lot of stress.

jahangirwifii (66) · 6 years ago

The first bitcoin ATM in the USA was located in Albuquerque, New Mexico.

ATM Machines

https://bitcoinatm.com
Genesis is a US based company that manufactures bitcoin machines that accept all major cryptocurrencies.

Locate a bitcoin ATM machine in your city.
Decide whether to sell or buy bitcoins.
Carry cash if you wish to buy bitcoins.
Carry your bitcoin wallet as well.
Access the ATM machine and launch the process.
I hope this info will help you

steem-plus (73) · 6 years ago

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intellihandling (63) · 6 years ago

Dear @knircky, i hope this is what you are looking for:
https://www.generalbytes.com/

scaredycatguide (73) · 6 years ago

I'm also interested in this and briefly started looking into it at one point. If you need to partner up with someone let me know.

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knircky (73) · 6 years ago (edited)

Sounds great, can you get in touch with me via telegram?

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6 votes

jmehta (58) · 6 years ago

Check this site out https://bitcoinatm.com/ to find more info :0

Upvoted!

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chireerocks (72) · 6 years ago

@knircky, Wow, that's sounds very impactful step. Hope that you will going to reiceve some effective advices from the Experienced Individuals and hope that your IDEA 💡 will turnout practical aspect. Stay blessed.

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