According to the bitcoins ATM industry status nowadays, there is a growing number of all the bitcoin ATM for sale installations worldwide. If someone want to run on his own bitcoins ATM or want to install a bitcoin machine, in existing local business, then what are the decisions to make beforehand and the main points to check? The following article is trying to answer all of these questions.
Bitcoin ATM for sale regulation
With all of the developments in bitcoins area over the last couple of years, one thing became more prominent, is regulation. The bitcoin ATM business, is not an exception already. In many jurisdictions you will need to get the special licenses like a MSB or others, in order to conduct such a business. Now running a requirement bitcoin ATM for sale, but without complying with law might end up with bad effect. The main point is to start with investigating, in case you would like to run with a bitcoin ATM, then it is the legal framework to such activities in your own region. While you running a bitcoin ATM, then on your own might may require a lot of investments in legal field. Like creating your KYC or AML compliance policy and obtaining proper legal licenses. Also there is still a cheaper way to find existing bitcoin ATM operator, that in your area, approach and suggest a good collaboration. So that you can work under the legal licenses umbrellas. In order to find the operators around you, you can check the bitcoin machine of locations map, for the majority of listings operator information that is provided.
To operate a bitcoin ATM, you will need to have a bank account of course. There were some ideas for build an unbanked bitcoin ATM. It’s more way of a nice to have solution, but not the practical nowadays.
Bitcoin ATM type
The next question for you is which bitcoin ATM for sale type to chose. There are a lot of broad categories, like two way or one way. So if you would like not only to sell bitcoins but also allow customers to buy bitcoins, then you will need to look for more expensive of two way solutions. And according to the number of the installations worldwide, about 42% from all of the bitcoins machines are now two way, and the 58% are the one way only.