Bitcoin Forum

So i dont have lots of money to spend, but how would i get a Bitcoin ATM in my local city centre without spending thousands?

It's hard to get ATM bitcoi because the factor is still scarce, and in my area there is no ATM bitcoin either, maybe we can exchange our bitcoin through bitcoin market.

If bitcoin cost you money then surely you will have to invest that much before you can in place the same.

What you can do is -

1. Partner with someone who is like minded and divide your investment funds.
2. Obviously this will get you same share of money back which you poured in.

Thats the only option you have if you want to spare little money on it.


Before that. .

Check with the legality that you are allowed to have bitcoin ATM machine in your region. You will need lots of approval for this to set up. Its not like buying the car and putting for sale in the city centre! Isn't it.

It's very difficult going for now. To establish ATM requires a bank or the guarantor authority in addition to the support from the local government. While the bitcoin is still being debated in some countries.

so it's hard to get the bitcoin ATM factor is still lacking and support from the state and government to realize the ATM is not very optimistic to realize it, while some countries are currently blaming bitcoin and making the topic so serious in his government.

I think the current ATM machine in bitcoin may be subject to policy issues, so I haven't seen it yet.
And bitcoin fees are high, and the confirmation rate is slow.

This dude is right. @OP how much would it cost to have a Bitcoin ATM machine? You also need to consider the security of your ATM, i'd rather choose a bitcoin swipe machine. I think it is much cheaper.

I think don't need a ATM for BTC.We can trade or buy anything via my phone!
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To get a local ATM in the area is indeed difficult, and usually only available in urban centers, and we simply exchange our bitcoin in the market to earn money.

I was wondering if i could contact a company who supplies and fits ATMs and then i could get someone with me to set it up. We could share profits from it if we get a lot of customers.

Bitcoin ATM is still very little in quantity. It’s quite unlikely to settle a ATM in some place which doesn’t have that much users. Hope we will see much more ATMs for Bitcoin I recent future.

If the amount of demand for bitcoin in that place would sure surge I really think that there might be a bigger chance that a Bitcoin ATM will emerge But for now I really think the best way is to exchange your coins with a legal way towards banks in exchanging Crypto to Fiat, I really think there is no other way to use it if there are no direct transaction in your place or country at the moment, But I think in a couple of years more ATM that would allow to withdraw and deposit bitcoin will be available in the whole world.

for now it will be very difficult to find ATM bitcoin because not many companies or government agencies think that far. This is because not too many people are interested in the withdrawal system of bitcoin assets using bitcoin ATMs so this does not really become a concern for the company or the government in terms of making bitcoin ATMs as pasilitas for withdrawal of bitcoin assets in each region. for now for bitcoin users will still be more interested in doing exchange in crypto market because this is of course easier to do.

Installation of ATM on your own will be requiring big amount of investment.  You will have to clear all the KYC/AML compliance policies, will have to obtain legal licence from the Governement as well as from the financial regulator of the country. 
Another way to involve in BTC ATM one may find some  person already involved in this business.  If he is ready to install ATM in the locality of your requirement under partnership basis, it will be better for you as you will have to deposit lesser amount of investment and will be able to explore the expertise of the  person already engaged  in the business.  That person will be knowing all the legal formalities and you will not find much difficulties in getting the license so better contact such person.
Also Bank account is must for running bitcoin ATM without which you may not even think of running such ATM.  Also check the demand for bitcoin in the area you want to install bitcoin ATM.  There must be sufficient number of Bitcoin users who are supposed to become your customers and if the number of customers are lesser you will be running a loss business.  In order to gain some profit there must have to be sufficient users of the ATM because the charges recovered will be meeting the cost of running that ATM and any surplus earning will be going to your wallet as profit.
Also decide whether you want to install one way or two way aTM.  One way ATM is only selling bitcoin but two way ATM is both buying as well as selling too and is much costlier that one way ATM.

Bitcoin ATM  Really is very important and effective system of bitcoin. Bitcoin is a online virtual currency which is increasing its reputation worldwide. So it is argent that bitcoin banking system in emargency.

It is one thing getting it installed, but it is a whole other story to keep it profitable. The Bitcoin price is relatively low at the moment and most people tend to hoard their coins, when the price is low. A BTC ATM needs a lot of transactions to remain profitable and this is currently more difficult to do.

If I may ask, how many merchants in the city centre accept Bitcoin as a payment option? You should go to them and find out what level of Bitcoin business are being done, before you invest into the BTC ATM.

that's true, because the presence of bitcoin atm already exists if the local government has approved and accepted bitcoin as a currency that can be used as a medium of exchange, and there are banks that manage it. while bitcoin itself is still debated by some countries. so while bitcoin liquefaction is done in the market for cash.

So in places where there is bitcoin ATM installed, that cost is paid by individuals ? I thought that it is paid by the government of that country.

Bitcoin atm would be very help because we would be very easy to take the money in bitcoin we and shopping of money from the bitcoin us, and we would not be difficult to dilute bitcoin us to the money

yes that's true, it's just bitcoin atm only exist in countries that have verified the existence of bitcoin. while there are still many countries that have not received, even forbid it. this becomes difficult for bitcoin users in the country.

let the ATM inaugurated the government as a currency that applies only in my country so it is very difficult to get it all, but in the future there will be and bitcoin will be used as a tool of future currency transactions

This is a good plan. This will definitely promote Bitcoin and cryptocurrency in your area. Perhaps even those people who have not yet heard of Bitcoin will become curious as to what the new ATM is. But make sure first that there are a lot of Bitcoiners in your area so that your investment will be worth it. If you are not that prepared in terms of funds, you can always invite your Bitcoin-supportive friends to pool together the necessary funds.

For me bitcoin atm is easy to use in reliable in order to get that without spending thousands is to notify the banks in your place that it in need to put a bitcoin atm that is necessary.

If you are looking for an anonymous method to convert cash to Bitcoins, you should look at http://www.bitcoin-brokers.org because they buy your Bitcoins and you will send cash through MoneyGram. They will pay you without needing to show you an ID. They do this by providing a special "question and answer" to the payment. With this special question and transaction number, you will be able to get your money back if you need to show any ID. Your Bitcoins are completely anonymous ways to convert to cash.

I am smiling when read this question. We know, crypto world is decentralized system, so no need a bank, moreover an ATM. We need a wallet, enough.

Since the government of most countries are still against bitcoin while some are  indecisive over bitcoin. It is not ideal to venture into Bitcoin ATM business. Be patient because a time is coming when bitcoin ATM will be every where.

in my country , in Bali Island you can spending Bitcoin with ATM Bitcoin spending machine.
you can bought Bitcoin with your cash money and than you can bought with low budget.

Well not all countries have easy way of cashing out. For sure these people will opt to pay bitcoin anywhere but obviously this is not the case because not all businesses are accepting bitcoin yet.

yes, for today we have trouble finding ATM bitcoin in every city center, one of the reason is that of the state which has not received bitcoin.

which I know in the city center of Singapore country has bitcoin ATM. so I suggest before you shopping, you must do a sale first in exchange.

Such a lucky you are. Bitcoin ATM is just a dream in my country And I think it will not come ever in my country. Recently Government passed a rule to stop bitcoin. But by hearing this I feel very good that bitcoin is spreading well and it will be stable in every country. Hope for the best. And, thank you.

in accordance with the policies in your country. such as in European countries and Japan for example that already has such a system.
I think it would be wise to buy with fiat money. because after all bitcoin is a valuable asset whose trajectory can change rapidly.