How To Get Started With A Business
It is important to be aware of any regulations pertaining to Bitcoin ATMs in your area. Some jurisdictions will require a Money Services Business (MSB) registration, or other forms of licensing and/or permitting before your business can begin operating. Knowing and complying with all relevant regulatory requirements from day one is essential to creating and growing a sustainable business. Specific regulations will vary by location. We will assist you to ensure that your Bitcoin ATM business is fully compliant.
You’ll need a bank account to operate a Bitcoin ATM. This is the account you will use to deposit cash from the machine to wire to your Wallet, which can then replenish the Bitcoin ATM’s hot wallet with BTC, which is sent to the customers buying buying your bitcoin.
SecureCash specialize in helping operators find banks to work with them.
The Bitcoin ATM industry continues to grow at a rapid pace and banking solutions continue to advance with industry development and increased demand.
This is an important factor that should not be overlooked. In fact, it might be the single most important factor that determines whether or not your business will be successful.
You can have two identical machines, and one may dramatically outperform the other simply because it is in a better location.
Some of the more popular locations include:
Convenience stores
Small retail stores
Coffee shops
Restaurants and bars
Hotels
Another option is to hire a professional locating company like Top Choice Locations that will prequalify locations and negotiate terms of the location agreement on your behalf. Once you approve a location, the locator will coordinate for you the installation of your ATM.
Running a bitcoin ATM business should be rewarding, not stressful and confusing. While immediately seeking out the cheapest or most feature-laden product can be tempting, you will need to think ahead and carefully consider your needs both today and as you grow. That’s why it’s important to choose a Bitcoin ATM provider that offers high quality hardware, a scalable software solution and good customer support as well.
BitCash USA offers a complete, turnkey system for setting up a Bitcoin ATM business. It’s a hardware, software and service platform. You can brand your Bitcoin ATM with any logo or brand. All BitCash ATMs are “two-way” by default, allowing them to support both buying and selling bitcoin. Our ATMs can also offer additional currencies (“altcoins”) to reach a wider audience.
Having all of this taken care of allows you to focus on offering value for your customers and scaling your business, instead of stressing over complicated technical issues.
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