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Author Topic: Looking for Bitcoin ATM advice  (Read 671 times)
visual111
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November 01, 2015, 08:34:55 PM
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I have thought about operating a Bitcoin ATM for some time. I see the landscape gradually shifting in favor of Bitcoin's adoption and think there is some money to be made here, given my ignorance about some issues of legality.

I'm looking to operate out of Wisconsin. Is there anyone in the US who might post some advice regarding operating a Bitcoin ATM? Or perhaps point me in a direction to find more out? Obviously my first goal here is compliance with the legal frameworks that be






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Harry Hood
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November 02, 2015, 04:09:10 AM
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Great question - I'm not aware of any owner/operator arrangements for Bitcoin ATMs. With fees as low as they are for the exchange, what margin do you think would be available for the guy who has a retail space for the ATM? My guess is there isn't any (but I could be completely wrong)

Here's an article about how to use a bitcoin ATM (which I know is not your question), but it has a list of manufacturers, whom you can contact or visit the website of to see what arrangements they might offer for ATM hosts/managers. Link: http://coinatmradar.com/blog/how-to-buy-bitcoins-with-bitcoin-atm/

Let us know what you find out.

beepboopbeep
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November 02, 2015, 04:25:43 AM
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Keep in mind you could very well be put on some watch list for exchanging bitcoins in america.
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November 02, 2015, 06:14:34 AM
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Keep in mind you could very well be put on some watch list for exchanging bitcoins in america.

Just like using a cell phone or the internet or the US postal service puts you on a "watch list". Trying to manage an ATM goes quite a bit further than that.

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November 02, 2015, 05:51:29 PM
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I'm running CoinATMRadar, where you can find many useful info about operating bitcoin ATM, e.g.
- latest industry stats including average commission fee size http://coinatmradar.com/blog/bitcoin-atms-industry-overview-after-2-years-since-first-launch/
- expected volume from average location might help you estimate your revenue streams better http://coinatmradar.com/blog/bitcoin-atm-profitability-part-2-real-examples/

However, as you asked particularly about legal conditions to run a bitcoin ATM in US here are couple of intro articles from Aaron Williams, which might be helpful for you:
- bitcoin ATM regulation 101 http://blog.atlantabitcoin.com/us-bitcoin-atm-regulation-101/
- bitcoin ATM regulation 102 http://blog.atlantabitcoin.com/us-bitcoin-atm-regulation-102/

Looking for BITCOIN ATM close to you? Check Bitcoin ATM Map from CoinATMRadar.
visual111
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November 04, 2015, 04:29:11 AM
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I'm running CoinATMRadar, where you can find many useful info about operating bitcoin ATM, e.g.
- latest industry stats including average commission fee size http://coinatmradar.com/blog/bitcoin-atms-industry-overview-after-2-years-since-first-launch/
- expected volume from average location might help you estimate your revenue streams better http://coinatmradar.com/blog/bitcoin-atm-profitability-part-2-real-examples/

However, as you asked particularly about legal conditions to run a bitcoin ATM in US here are couple of intro articles from Aaron Williams, which might be helpful for you:
- bitcoin ATM regulation 101 http://blog.atlantabitcoin.com/us-bitcoin-atm-regulation-101/
- bitcoin ATM regulation 102 http://blog.atlantabitcoin.com/us-bitcoin-atm-regulation-102/

Great, thanks for posting that. Very helpful articles. I talked to a guy from my area and he said he stopped operating his ATM due to the uncertainty in regard to legality. I'll keep digging/probing






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