Post
Topic
Board Bitcoin Discussion
Re: Start your own Bitcoin ATM business
by
shield132
on 10/10/2020, 11:41:55 UTC
I don't understand what kind of KYC verification users will have to pass when using Bitcoin ATM? Can anyone enlighten me in this case?

Btw thank you for this thread, very beneficial. Will be glad if anyone decides to write a detailed review of each service provider and write it's pros and cons.
GENERAL BYTES sounds pretty amazing with it's features and price.

Btw as I see in my country, people rarely use Bitcoin ATMs, if they get near to it, it's because they just see a new thing and are a little bit interested in it, saying: WTF is this? Otherwise, days pass and no one uses ATM. It's in my friend's cafe in a prestigious place.

It depends on country. Personally I don't think it's a good business to start right now. You have to pay for equipment, pay for rent, internet, while you have to keep low fees and gain enough customers to withdraw a lot of bitcoins in order to cover fees/taxes and get some profit, so, I think in some places ROI is non existant and in other ones - bad. It's better choice to buy car with that money and rent daily on taxi drivers.
Maybe we need to wait for higher demand on bitcoin and cryptocurrencies?