Hi guys,
My first post here. I've notived a few retail stores in Toronto which pretty much buy/sell your bitcoin in person. Charging a 5% rate.
Has anyone had any experience with these types on in person exchanges? From a business perspective are they lucrative? It's an interesting business model as you can also teach crypto in your community. However, I am unsure of the safety of random people walking in your store...
Any input would be appreciated, i would consider such a venture as long as it falls in legal terms.
Someone does it in a store close to where I live, but I'm not sure how much she charges. She acts as a mini bank by helping people transfer both fiat and bitcoin currencies to their wallets and to other people/businesses. I think she must have been licensed by the bank to be able to provide the fiat currency transfer service which likely does not cover Bitcoin.. This shouldn't be a problem as long as she has the right ToS for the Bitcoin transfer that her customers need to read and agreed to.