{"id":76751,"date":"2018-03-11T16:16:54","date_gmt":"2018-03-11T23:16:54","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/?p=76751"},"modified":"2019-07-08T11:17:07","modified_gmt":"2019-07-08T18:17:07","slug":"building-a-bitcoin-atm-is-easy","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2018\/03\/building-a-bitcoin-atm-is-easy","title":{"rendered":"Building a Bitcoin ATM is easy, but\u2026"},"content":{"rendered":"<p style=\"text-align: center\"><span style=\"font-size: 12pt\"><span style=\"font-family: 'times new roman', times, serif;color: #993300\"><em>A new section about <\/em><\/span><\/span><span style=\"font-size: 12pt\"><span style=\"font-family: 'times new roman', times, serif;color: #993300\"><em>Bitcoin ATM business models<br \/>\n<\/em><\/span><span style=\"font-family: 'times new roman', times, serif;color: #993300\"><em>has been added. Jump to \u201c<strong><a href=\"#urgency\">UPDATE \u2013 July 2019<\/a>\u201d<\/strong><\/em><\/span><\/span><\/p>\n<p>The good news is that building a Bitcoin ATM is easy and less expensive than you might expect. But, offering or operating them engulfs the assembler in a regulatory minefield! It might just be worth sticking to selling bitcoin on PayPal (<a title=\"\" href=\"https:\/\/www.mamooti.com\/exchange\/sell-bitcoin-to-paypal\/\">visit this website<\/a> for more information on that). You might also wish to rethink your business model\u2014especially user-demand scenarios. See our 2019 update at the bottom of this article.<\/p>\n<p>A photo of various Bitcoin ATMs appears at the bottom of this article. My employer, Cryptocurrency Standards Association, shared start-up space at a New York incubator with the maker of a small, wall mounted ATM, like the models shown at top left.<\/p>\n<p><b>What is Inside a Cryptocurrency ATM?<\/b><\/p>\n<p>You could cobble together a Bitcoin ATM with just a cheap Android tablet, a camera, an internet connection, and [optional]: a secure cash drawer with a mechanism to count and dispense currency).* A receipt printer that can also generate a QR code is a nice touch, but you don\u2019t really need one. You can use your screen for the coin transfer and email for a receipt.<\/p>\n<p>Of course your programming and user interface makes all the difference in the world. And your ATM must interface with an exchange\u2014yours or a 3rd party exchange.<\/p>\n<p>If your plan is to sell Bitcoin and not exchange it for cash, then you don\u2019t need a currency dispensing component at all. You only need a credit card swipe-reader and an RFI tap reader. Some models are smaller than a cookie and sell for under $30. They can be attractively embedded into your machine. In fact, some bank card processors offer them without cost.<\/p>\n<p><strong>I Have Built a Prototype. Now What?<\/strong><\/p>\n<a class=\\'blog-photo\\' href=\"http:\/\/awildduck.com\/wp-content\/uploads\/2018\/03\/bitcoin-atm.jpg\"><\/a> Desktop ATM. No cash dispensed <div class=\"more-link-wrapper\"> <a class=\"more-link\" href=\"https:\/\/lifeboat.com\/blog\/2018\/03\/building-a-bitcoin-atm-is-easy\">Continue reading \u201cBuilding a Bitcoin ATM is easy, but\u2026\u201d | &gt;<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A new section about Bitcoin ATM business models has been added. Jump to \u201cUPDATE \u2013 July 2019\u201d The good news is that building a Bitcoin ATM is easy and less expensive than you might expect. But, offering or operating them engulfs the assembler in a regulatory minefield! It might just be worth sticking to selling [\u2026]<\/p>\n","protected":false},"author":353,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1318,1761,39,45,418],"tags":[2998,2997,2161,2995,2999,2871,1884,2996],"class_list":["post-76751","post","type-post","status-publish","format-standard","hentry","category-bitcoin","category-cryptocurrencies","category-economics","category-finance","category-internet","tag-atm-licensing","tag-atm-regulations","tag-bitcoin","tag-bitcoin-atm","tag-bitcoin-licensing","tag-bitcoin-regulations","tag-cryptocurrency","tag-cryptocurrency-atm"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/76751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/353"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=76751"}],"version-history":[{"count":8,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/76751\/revisions"}],"predecessor-version":[{"id":93277,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/76751\/revisions\/93277"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=76751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=76751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=76751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}