How to start a Bit Coin Atm Business

So for this video, I’m to get straight into the facts, how do you start a crypto atm machine and is it actually worth starting.

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1. The first thing is this: Buying a Crypto Atm Machine is not the problem (it's easy )
- The average cash atm might cost anywhere from $1000-$4000 and if you want to get really fancy pretty high
- But when it comes to cypto machines they are pretty expensive

Cost of Crypto Machine:
- Ranges from Buying only: $3000 and up
- Buying and selling ($6,000 and up)
- High-End machines can be (10,000 on above )

That not the only Cost:
- You’ll have do the business formation ( $500) LLC and extra stuff
- Register in the crypto exchange
- And understand the regulation in your area and then put one in good location ( state level and the federal level )

Overall: Set process is a lot like setting up a normal atm ( except the regulation and configuration ) and the crazy price on the machines

2. How does it actually work

Step 1 Would be:
- You would x amount of bitcoin to have to trade with people for cash
- And same have Cash to trade with people for crypto

For example:
- Let's say I want to buy some crypto and I never heard about using Robinhood or Coin base or any of other platforms
- I would go to you and pay you an average of 8.4% of the transaction to buy crypto
- And if change my mind I would pay around 5.4% to sell my cypto for cash
- So you make money based on commissions obviously

Location: high demand area, demographic is important, foot traffic is important
- Restaurants
- Café
- Shopping malls
- Supermarket
- Cash-based business

3. Do I recommend you do this
- Atms with real cash and millions of people are becoming obsolete step by step
- And its also becoming more competitive because of a company like allpoint and green dot as just working with a lot of companies
- So even for the standard the atm, the current model, you build up with some great location and then you cash out

As far Bitcoin Atm:
- Most of the people buying bitcoin are well aware of the different platforms to buy and sell

I wouldn’t do it
- It cost some money to get started
- It's based on market high and lows
- And it can be gone by tomorrow
- ( just make sure you understand the risk)

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

Видео How to start a Bit Coin Atm Business канала TommyBryson