How to install a Bitcoin ATM in my city?

[Kiweikoo]

I don’t know if it is easy to do such a thing, cause I think you will need a lot of money to carry out such a thing. It’s very risky from the way I see it, if an individual like you is going to be the one to do it. Maybe you should get a group that will assist you in doing so. But you need a lot of capital..

[1715041813]

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[1715041813]

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[Polipog]

In my country, I don't ever see any bitcoin atm machine that own by a bitcoin enthusiasts or any bitcoin atm machine that directly operated by the bitcoin management. There's a possibilities of bitcoin machine once a certain country accept bitcoin business and used as a legal tender or assets. But so far in my country, the government remain silence about the circulation of bitcoin. I don't ever heard any bad reactions of my loving president about bitcoin business, so let us wait if the bitcoin ATM will be soon implemented in different places all over the world. For me, ATM machine of bitcoin is too much risky, because criminals are too much attracted on that particular business, they can easily attack to their targets.

[diwataluna]

If it is not a fulltime business where you rely solely on it, then you can experiment. The tech, I am not sure where you can find or buy an ATM. We have one near my city which also has ETH and LTC. Don't forget the volatility when you compute for profitability.

[Taki]

This kind of business may seem profitable and unique because of not so much people got involved in it. From first few comments you have got some necessary links to see what and how, as I see. But I think you need to creat a whole business plan to count all variants, cause of if you are from a small country with small population, like from jungle picture, your costs for installing on ATM will probably will never get return. Good luck!

[greeklogos]

WoW I didn't knew that my thread is still actual here and I thank all of you for your suggestions and opinions. I have got necessary info about the point and I will gladly inform you guys in nearly future about my final decision.

[tenu]

First of all there should be proper legislation for such activities. And when it would be allowed in this or that country, banks will be the leading players in such business.

[BitHodler]

First of all there should be proper legislation for such activities. And when it would be allowed in this or that country, banks will be the leading players in such business.

Proper registration and licenses are obviously needed, but banks currently by far aren't the leader in this segment. I only know of a Slovenian bank that made it possible to also buy Bitcoin through their regular ATMs.

Eventually, this will be the way to go for banks, where by that time they will completely demolish the third party ATM market. It's an ultimate form of convenience to buy Bitcoin from your own local bank ATM.

If the bank works with its own reserves, it will even be able to dramatically decrease the fees involved, which is something regular ATMs can't and won't be doing. Why else would they run an ATM, just for fun?

[donmase]

This problem actually involved with many things related to the goverments then technology at all, first you have to ask the permission of your goverment first then things will be very easy like setting up a normal fiats ATM.

[ALOIS]

As for Russia, Sberbank and Alfabank (they are the largest banks) are very interested in penetration blockchain technologies into everyday life. I think they will start this business direction, including ATM, in the near future.

[syaripudin]

Hello everybody! I am thinking to start my own business and I though that maybe an installation of the first Bitcoin ATM in my city would be good idea which can bring me good income. But I have no idea from where to start, so I am here to hear all ideas, experience and advices.
Thank you!

you have a very good idea in terms of making a crypto ATM facility and I think if it can be realized of course it will be a profitable business field. but in my opinion you will not be able to realize it yourself because of course you have to have a manpower who is expert in the design of ATM crypto. so I think start by opening a list of job openings for people who are experts in their field and it seems like this will take a long time.

[amih]

I don't think bitcoin ATM is a good idea because we all have bitcoins in our mobile phones then why we need to go to ATM?
If we want to buy bitcoins also it can be done in the internet by just sitting in the home,bitcoin machine is very expensive equipment so you need huge investment for it.

maybe the reason OP is the thing we do that related to the internet will allow loss of signal from the internet which can happen anytime and of course it will be very disturbing in terms of bitcoin transactions. and that I know as usual in making transfers or withdrawals we do by using ATMs it does not have to use the internet network, and that's just my opinion if there is a mistake I say please you can straighten it.

[jcemos9bt]

You are so intelligent for this ideal you just think of go ahead and do it i wish you goodluck kudos to you Bro.

[Ashleybarnes2]

Hello everybody! I am thinking to start my own business and I though that maybe an installation of the first Bitcoin ATM in my city would be good idea which can bring me good income. But I have no idea from where to start, so I am here to hear all ideas, experience and advices.
Thank you!

You know what I was thinking the exact same thing. There is only one in my whole city and I live in a major UK city. I cant imagine it being to hard. I would look into to what bithumb are doing at the moment with all the infrastructure they are building in South Korea at the moment. They may even franchise out some atm's I think it would be worth contacting them about it.

[Rossy Akbar]

I think the first thing that needs to do is legalize bitcoin as your currency in your country tho,  and after you will looking for any information of how to make it than the last thing you need to do is find the way how you can make the people also interest to use bitcoin ATM,  I mean you really need to do hardwork like making bitcoin ATM was better than any other ATM.

[octagonsaute]

That is a very interesting question and you use the various means to do it.

[secondhandlark5]

There are some very useful links that has been posted in the thread. Use them.

[bitcoin31]

Installing bitcoin ATM in your city for sure need big capital because you buy machine , you need permit and you need to places for the ATM machine. For me maybe it some user only use that because if we compared the price on the wallet and ATM is very big difference like buy bitcoin in ATM is more expensive if the selling price is more cheaper.

[volleyballslenderF]

There are many websites and articles that will help you with this.

[meatygeiger]

Use the important links and try to follow it step by step to install it.

[bowals]

isnt the point of ATM to withdraw cash or make transactions?
How is that relevant in bitcoins?
i have seen many ico's try to do that, i have been wondering for a long while now