Bitcoin ATM should I get one ??? ???
Hello everyone
I was thinking about getting a Bitcoin ATM and installing it in Canada Quebec. If you have any information about the advantages of owning one and which model or any info on the topic please let me know.
Thank you for your time.
my understanding of how atm's and how they work is that the "provider" (you) would charge a fee in order for someone to use this service that you are providing.
the next thing is to make sure that you are able to afford to run an atm. do you have enough funds? can you re-establish an operating balance in order to afford the transactions that would take place?
the last thing that i would like to say, is location, location, location. if you think that this is the best spot to support canadian bitcoin users then by all means go ahead.
i think that this is a cool idea and that it would help a lot of people to get cash in a safer and faster way. although i am unaware of most of the practices of how a BTC atm would work. i hope that i have been able to provide productive feedback
thank you for your time, and i hope that you have a good one!
thank you !
The way they work is you connect them to an exchange, add a markup. Any cash deposited you transfer back to the exchange and the difference is yours to keep. Rinse and repeat. The ATM pictured is a GB BATMTwo https://www.generalbytes.com/batmtwo/ and will also to allow you to sell up to two other coins (Ethereum is hot right now!) in addition to Bitcoin. There is standard support for BTC, LTC, ETH, Dash, Doge, XMR and more. If someone here knows who from the devs to contact at steemit to add steemit vending support to the ATMs. I can then point them to the Github API here: https://github.com/GENERALBYTESCOM/ as I think it could mean a massive boost for steemit ecosystem to have ATM support and should not be to hard to implement either.