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Showing 5 of 5 results by cloudybtc
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Board Trading Discussion
Re: In-Person Bitcoin Exchanges
by
cloudybtc
on 19/10/2022, 16:28:31 UTC
Thank you.
You understood me correctly. I would like to open a physical in-person exchange. Better rates than ATM and no KYC.
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Topic
Board Trading Discussion
Re: In-Person Bitcoin Exchanges
by
cloudybtc
on 19/10/2022, 15:56:26 UTC
Got it. Appreciate the feedback.
I'm into crypto, have retail space available was interested in pursuing something with it. Maybe mining equipment? Would need wholesaler though.
I know the whole point of crypto is you don't need to be face to face but i am sure there is some opportunity to make some money
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Topic
Board Trading Discussion
Re: In-Person Bitcoin Exchanges
by
cloudybtc
on 18/10/2022, 21:30:38 UTC
Quote from: AmoreJaz on Today at 09:20:34 PM
it may not be a lucrative business as not many people are into crypto. and most crypto users are using online exchanges to convert their crypto to fiat like binance and kucoin. but in-person retail store or shop will come in handy to some people who wanted their cash straight from crypto. because in online exchanges, to get your cash on hand, usually you convert your crypto to fiat, then with p2p, you send your fiat to your bank account or online wallet app and then withdraw it to your ATM.
expect that the business may not be busy as compared to other businesses, as right now, only few people may have their interest to crypto. but if it is already in front of them, they may try getting hands on crypto, who knows?
Say you have a retail space at $1.5k/month where close to a thousands of cars drive by per day, you do up the outside nicely with signage.
I would think you can build a network of returning customers even just dealing with them. Part of this would also help adoption even if it is in a small sense.
I see some retail stores charging 2-5% depending size on transaction.
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Topic
Board Trading Discussion
Re: In-Person Bitcoin Exchanges
by
cloudybtc
on 18/10/2022, 21:07:12 UTC
Quote from: BitMaxz on Today at 09:00:01 PM
It's unsafe if you meet in a place that you don't know if it is safe or not you need to meet always in a place that you know is safe like a mall or restaurant with guards.

Or you can go directly buy BTC at some Bitcoin ATM near your area you can use this map below
- https://coinatmradar.com/city/165/bitcoin-atm-toronto/

Another option is to buy BTC by using a P2P exchange like Bisq. That would be safe than dealing randomly in person in a random place.
Thanks for the reply. But what I mean is more directed to these in-person retail stores I am seeing in strip malls. These stores operate like an "in real life exchange".
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Topic
Board Trading Discussion
Topic OP
In-Person Bitcoin Exchanges
by
cloudybtc
on 18/10/2022, 20:04:36 UTC
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.