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Author Topic: Building an ATM: what are the steps?  (Read 73 times)
FiNaR76
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July 11, 2018, 09:45:33 AM
 #1

Hi All,

First of all, apologies if I am posting this in the wrong forum; @Admin, please move this topic in the appropriate category in case it is necessarily.

I am embarking on a DIY project, building a multy-coin ATM, starting with Bitcoin...

I am more focused on the SW than the HW (Hardware is easy to find even in Amazon) was wondering if anyone here has some good resources for this project and in particular:

1) Open Source Projects; so far I have found:

2) What are the Steps to get CKY and AML embedded into the ATM

3) Can a BTC ATM have also Credit Card Reader (I have seen only Cash machine so far)

4) what is the best way to provide liquidity? (hot-wallet, bitcoin exchange connection, others?)

many thanks all

Regards

Ivan
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July 12, 2018, 09:21:23 AM
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I don't know in which country you will install that ATM, but at first I would check the legal background of it.
Do you need to obtain special licences for installing and operating the ATM but as it would work with real fiat notes it's really possible that you have to, but you should check it.
If the legal background is clear after you can start thinking about building the ATM. Or you can check if there's a second hand ATM available for you somewhere to start with... maybe it's easier to have a working one and see how it works than to start it from scratch...

FiNaR76
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July 14, 2018, 05:52:16 PM
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I don't know in which country you will install that ATM, but at first I would check the legal background of it.
Do you need to obtain special licences for installing and operating the ATM but as it would work with real fiat notes it's really possible that you have to, but you should check it.
If the legal background is clear after you can start thinking about building the ATM. Or you can check if there's a second hand ATM available for you somewhere to start with... maybe it's easier to have a working one and see how it works than to start it from scratch...

Great Suggestions!

I am in Italy, I am sure that there are already few installations in the main cities (Milan, Rome etc...)... but I am not sure what are the "rules" from government point of view.... I would need to check! would you have any suggestion where to start?

Cheers

FiNaR
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July 14, 2018, 08:17:03 PM
 #4

I don't know in which country you will install that ATM, but at first I would check the legal background of it.
Do you need to obtain special licences for installing and operating the ATM but as it would work with real fiat notes it's really possible that you have to, but you should check it.
If the legal background is clear after you can start thinking about building the ATM. Or you can check if there's a second hand ATM available for you somewhere to start with... maybe it's easier to have a working one and see how it works than to start it from scratch...

Great Suggestions!

I am in Italy, I am sure that there are already few installations in the main cities (Milan, Rome etc...)... but I am not sure what are the "rules" from government point of view.... I would need to check! would you have any suggestion where to start?

Cheers

FiNaR
You should start with your country's central bank's regulations in connection with financial services, who can run an ATM, what is the requirement, do you need a banking licence or something similar...
But it's easier to consult with someone who has the knowledge (tax advisors, book-keepers, lawyers, etc...)
Or you can check who runs the mentioned ATMs in Milan, Rome, etc... you can have a look at their companies' data and numbers, so you can have an idea, how much capital they've  put into their companies to run those ATMs...


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July 14, 2018, 11:20:56 PM
 #5

ATMs Bitcoin (ATM) are growing around the world. They are a convenient way to buy bitcoins with cash without going online or interacting with another person.
FiNaR76
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July 17, 2018, 01:30:33 PM
 #6

ATMs Bitcoin (ATM) are growing around the world. They are a convenient way to buy bitcoins with cash without going online or interacting with another person.


I would say that BTC ATM are for the "non-tech people"... every mobile phone could work as good as an ATM (with Credit/Debit card instead of cash)... but many people still do not trust "digital tech"... therefore I see a good potential in BTC ATM....

anyone has experience in legal obligation for the installation?
Cofee.BLUE
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July 17, 2018, 01:45:45 PM
 #7

Hi All,

First of all, apologies if I am posting this in the wrong forum; @Admin, please move this topic in the appropriate category in case it is necessarily.

I am embarking on a DIY project, building a multy-coin ATM, starting with Bitcoin...

I am more focused on the SW than the HW (Hardware is easy to find even in Amazon) was wondering if anyone here has some good resources for this project and in particular:

1) Open Source Projects; so far I have found:

2) What are the Steps to get CKY and AML embedded into the ATM

3) Can a BTC ATM have also Credit Card Reader (I have seen only Cash machine so far)

4) what is the best way to provide liquidity? (hot-wallet, bitcoin exchange connection, others?)

many thanks all

Regards

Ivan
I don't think so that building ATM is a good idea when it comes to bitcoin because in the other hand we all known that bitcoin was created with the purpose of giving a much easiest and fastest way of making transactions so why building or creating ATM. Is there difference with the bank and to bitcoins when that happens. I think and I believe that we don't need ATM if we wanted a much convenient way of doing any transactions.


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virendarnagpal
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July 17, 2018, 02:30:09 PM
 #8

Hi All,

First of all, apologies if I am posting this in the wrong forum; @Admin, please move this topic in the appropriate category in case it is necessarily.

I am embarking on a DIY project, building a multy-coin ATM, starting with Bitcoin...

I am more focused on the SW than the HW (Hardware is easy to find even in Amazon) was wondering if anyone here has some good resources for this project and in particular:

1) Open Source Projects; so far I have found:

2) What are the Steps to get CKY and AML embedded into the ATM

3) Can a BTC ATM have also Credit Card Reader (I have seen only Cash machine so far)

4) what is the best way to provide liquidity? (hot-wallet, bitcoin exchange connection, others?)

many thanks all

Regards

Ivan
I don't think so that building ATM is a good idea when it comes to bitcoin because in the other hand we all known that bitcoin was created with the purpose of giving a much easiest and fastest way of making transactions so why building or creating ATM. Is there difference with the bank and to bitcoins when that happens. I think and I believe that we don't need ATM if we wanted a much convenient way of doing any transactions.
But I do not find any wrong if ATMS for bitcoin are installed.  There may be many shopkeepers who may not be accepting bitcoin or may not be having much knowledge about it.  ATMs will deliever fiat currency.  So for payment to them fiat currency will be required and ATMS I think are must for this purpose. 

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realcrypto
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July 17, 2018, 03:00:49 PM
 #9

This will be a very good development because it will make majority that are still doubting the the reality and usage of bitcoin in real life to start investing in bitcoin. The challenge will be how your country government are seeing bitcoin and it efficacy.

bitart
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July 17, 2018, 05:44:35 PM
 #10

...
But I do not find any wrong if ATMS for bitcoin are installed.  There may be many shopkeepers who may not be accepting bitcoin or may not be having much knowledge about it.  ATMs will deliever fiat currency.  So for payment to them fiat currency will be required and ATMS I think are must for this purpose. 
Maybe it's easier to start to have a look at currency exchange shops how do they operate, how they handle cach, because they do a really similar activity when they exchange fiat for foreign fiat...
But usually bitcoin is not legally accepted as a currency in most countries, except for some lucky ones...

FiNaR76
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July 18, 2018, 12:36:41 PM
 #11

Hi All,

First of all, apologies if I am posting this in the wrong forum; @Admin, please move this topic in the appropriate category in case it is necessarily.

I am embarking on a DIY project, building a multy-coin ATM, starting with Bitcoin...

I am more focused on the SW than the HW (Hardware is easy to find even in Amazon) was wondering if anyone here has some good resources for this project and in particular:

1) Open Source Projects; so far I have found:

2) What are the Steps to get CKY and AML embedded into the ATM

3) Can a BTC ATM have also Credit Card Reader (I have seen only Cash machine so far)

4) what is the best way to provide liquidity? (hot-wallet, bitcoin exchange connection, others?)

many thanks all

Regards

Ivan
I don't think so that building ATM is a good idea when it comes to bitcoin because in the other hand we all known that bitcoin was created with the purpose of giving a much easiest and fastest way of making transactions so why building or creating ATM. Is there difference with the bank and to bitcoins when that happens. I think and I believe that we don't need ATM if we wanted a much convenient way of doing any transactions.

I agree in the long run.... but the problem now is "adoption".... short/medium time ATM can "sky-rocket" adoption, in a bull run (I have so many friends who would have use an ATM last November-Feb....)
FiNaR76
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July 18, 2018, 12:43:04 PM
 #12

...
But I do not find any wrong if ATMS for bitcoin are installed.  There may be many shopkeepers who may not be accepting bitcoin or may not be having much knowledge about it.  ATMs will deliever fiat currency.  So for payment to them fiat currency will be required and ATMS I think are must for this purpose.  
Maybe it's easier to start to have a look at currency exchange shops how do they operate, how they handle cach, because they do a really similar activity when they exchange fiat for foreign fiat...
But usually bitcoin is not legally accepted as a currency in most countries, except for some lucky ones...

I am not thinking of people buying BTC via ATM to use them for other purchases... at the moment (and please correct me if I am wrong), people are Hodling BTC and Crypto in the dream of "getting rich".... an ATM, in this point and time, help people not so much techy, getting BTC just simply by with cash.... probably in 10 years time none will ever see/use an ATM, but now I see it as a critical step to increase adoption....
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