Can I open up a local shop and sell bitcoins for cash?

[plorph]

I'm wondering if I can open up a local shop and sell bitcoins for cash without paperwork or signing anything. Sure a bitcoin ATM can fulfill that role but as a shop I could do other things such as sell bitcoin merch etc, offer information on bitcoin and cryptos etc, but primarily I'm wondering if I can sell bitcoin for cash without hassling customers with paperwork. I suppose the laws would be the same for an ATM machine? which I haven't heard to be of a legal problem. I'd be considering doing this in Texas, USA, by the way. Any references or shared knowledge would be great, and I'm less interested in speculation. Thanks!

[philiveyjr]

You would probably need a license for it . One thing that I have extensively read from fellow traders in the US, is that its hard to sell bitcoins without the license.I also don't expect you would get a serious and completely accurate reply on btctalk, so would suggest asking a lawyer rregarding this.

[super stars]

i think yes you can really do this as there is no restriction for trading in bitcoin.  i think it will really be a very very good decision through this way you can really promote bitcoin in your area, and in this way more and more people will invest their money in bitcoin.

[plorph]

You would probably need a license for it . One thing that I have extensively read from fellow traders in the US, is that its hard to sell bitcoins without the license.I also don't expect you would get a serious and completely accurate reply on btctalk, so would suggest asking a lawyer rregarding this.

Right, do you have any idea where I could find lawyers knowledgable on bitcoin laws?

[enhu]

There would be a lot of money launderer flocking to your shop in that case. Although I'm one of those who prefer to buy BTC without paper works, I think a paper work would be best.

I'm just not sure if you can do it in the Philippines. You're also a Pinoy?

[maydna]

I'm wondering if I can open up a local shop and sell bitcoins for cash without paperwork or signing anything. Sure a bitcoin ATM can fulfill that role but as a shop I could do other things such as sell bitcoin merch etc, offer information on bitcoin and cryptos etc, but primarily I'm wondering if I can sell bitcoin for cash without hassling customers with paperwork. I suppose the laws would be the same for an ATM machine? which I haven't heard to be of a legal problem. I'd be considering doing this in Texas, USA, by the way. Any references or shared knowledge would be great, and I'm less interested in speculation. Thanks!

i think for first, you can make your own company and make your office for real so people can proof that you are real person that handle for local shop which are selling and buying bitcoin, don't forget to hire a lawyer if there is need in your country, and maybe you need to talk with bank government which handle regulator that you are making a company about bitcoin and ask them what is need to do this.

[gentlemand]

There would be a lot of money launderer flocking to your shop in that case.

Yup. You'd get hammered instantly.

I get the feeling Texas is a bit more crypto friendly than other states but that sounds like the essence of money transmitting and they'd be all over you. Lawyer yourself up.

https://en.wikipedia.org/wiki/Money_transmitter

'In the legal code of the United States, a money transmitter or money transfer service is a business entity that provides money transfer services or payment instruments.'

[jaweria khan]

yes you can do it there is nothing wrong in it  think it will be really a very positive step toward promoting bitcoin.

[Maesters1-]

to me it will be really appreciable if you really want to open a shop in your local area and sell bitcoins for cash, through this way you can really promote bitcoin and con convince more and  more people to start using bitcoin.

[Clement Kaliyar]

I'm wondering if I can open up a local shop and sell bitcoins for cash without paperwork or signing anything. Sure a bitcoin ATM can fulfill that role but as a shop I could do other things such as sell bitcoin merch etc, offer information on bitcoin and cryptos etc, but primarily I'm wondering if I can sell bitcoin for cash without hassling customers with paperwork. I suppose the laws would be the same for an ATM machine? which I haven't heard to be of a legal problem. I'd be considering doing this in Texas, USA, by the way. Any references or shared knowledge would be great, and I'm less interested in speculation. Thanks!

Unfortunately i would advice you aganist it since you are planning to opening a shop in texas , Texas has not considered bitcoin or any other crypto currency as legal money ,here is a feature regarding that Texas Banking Chief Issues Rules for Bitcoin this is an old feature and i dont know thing have changed right now. it is better to have a legal opinion regarding it.

[Superbitzz]

yes no doubt about this, you can really do this, but if your government give you permission and secondly that if you think that there are good number of bitcoin users in your area, then you can really open a shop.

[Vinz24]

If your opening a shop to sell bitcoin I think you will need a permit for it. But if your a small time seller or you only sell small amount on your spare time and not opening a phisical shop, I think you can sell without need a permit for it.

[Universat]

yes you can do that and it will be one of the most profitable business, you will collect a fixed amount from the customers as exchange services, and i usually convert my bitcoin using Urdu bit who easily exchange the bitcoin in t our fiat currency .

[Bit_Happy]

The IRS will probably look at BTC as "property", while other forces in the Gov't will say you are dealing in "money".
Good luck, and please let us know how it works out.

[LLec]

What about if he opens a shop outside of the united states and in a country that does not have any problems such for the ones that have been brought up.

[Wapinter]

I'm wondering if I can open up a local shop and sell bitcoins for cash without paperwork or signing anything. Sure a bitcoin ATM can fulfill that role but as a shop I could do other things such as sell bitcoin merch etc, offer information on bitcoin and cryptos etc, but primarily I'm wondering if I can sell bitcoin for cash without hassling customers with paperwork. I suppose the laws would be the same for an ATM machine? which I haven't heard to be of a legal problem. I'd be considering doing this in Texas, USA, by the way. Any references or shared knowledge would be great, and I'm less interested in speculation. Thanks!

I dont think anyone would be interested to go to your shop to buy bitcoin when he/she can buy it online much easily and quickly.Bitcoin is not a physical commodity which people should examine before buying so going to shop to buy it is useless

[LLec]

I'm wondering if I can open up a local shop and sell bitcoins for cash without paperwork or signing anything. Sure a bitcoin ATM can fulfill that role but as a shop I could do other things such as sell bitcoin merch etc, offer information on bitcoin and cryptos etc, but primarily I'm wondering if I can sell bitcoin for cash without hassling customers with paperwork. I suppose the laws would be the same for an ATM machine? which I haven't heard to be of a legal problem. I'd be considering doing this in Texas, USA, by the way. Any references or shared knowledge would be great, and I'm less interested in speculation. Thanks!

I dont think anyone would be interested to go to your shop to buy bitcoin when he/she can buy it online much easily and quickly.Bitcoin is not a physical commodity which people should examine before buying so going to shop to buy it is useless

Maybe this is why ATM machines for bitcoin have not really taken off either.
Bit if it is marketed correctly I believe it can turn out to be a successful business and very profitable.

[ayesha sadiqa]

If your opening a shop to sell bitcoin I think you will need a permit for it. But if your a small time seller or you only sell small amount on your spare time and not opening a phisical shop, I think you can sell without need a permit for it.

but if bitcoin is not legal in an area then how can you get the permit for it from the government, in my area you can open a shop without taking any permission from the government. so i think it will be really appreciable if you start such kind of business, as it will be good for both you and for the customers.

[CryptoDatabase]

If your opening a shop to sell bitcoin I think you will need a permit for it. But if your a small time seller or you only sell small amount on your spare time and not opening a phisical shop, I think you can sell without need a permit for it.

but if bitcoin is not legal in an area then how can you get the permit for it from the government, in my area you can open a shop without taking any permission from the government. so i think it will be really appreciable if you start such kind of business, as it will be good for both you and for the customers.

In the USA you need a money transmitter license for every state you operate in. A little bit of info, this license is roughly $1000 per state and if you don't have the license and get caught laundering money that's a prison sentence and one hell of a fine.

[PacePay]

If bitcoin is allowed in your country then you can do that job easily without any difficulty but try to open that shop in that area where you feel that the number of bitcoin users are more higher.