Bitcoin atm business plan pdf

Are you about starting a bitcoin ATM company? If YES, here is a detailed sample bitcoin ATM business plan template & FREE feasibility report.
Table of contents

An analysis will help you determine if you should push through with it or not, or if you should change some factors such as location to help your business become a success. In a way, it helped you to stop putting up your business before you can push through with it otherwise you would have lost a big investment. Do they operate twenty-four seven? Do they accept deposits? How about bills payments? What rates do they have? These are the things you can take note of and compare with your own ATM business so you know which areas you can improve upon so that your business will be better than theirs.

But the maintenance behind it takes a few people. If you wish to have fund transfers, bills payments, cash, and check deposits, then you may also add them in this section. Just be sure that the machines and system that you get for your ATM can carry all the features you wish for it to hold. Also, make sure your system is secure. ATM hacks are common and hackers evolve through time. Have your IT admin do updates and security patches if need be. Make sure your security alarm and CCTV cameras are also functional so if anything happens, you can find the culprit fast. How do you market your ATM company business?

Location plays a great deal. Choose one where there is a lot of foot traffic and with shopping and food establishments around you. You can also advertise on social media and in print so you can reach a lot of people whether young or old.

Cities in the UK with a Bitcoin ATM 2021

A financial plan helps you check the supplies you need to purchase, how much to charge for rates, and how long will it take you to reach break-even. This may seem intimidating but with a proper breakdown and a careful analysis, it will help you estimate how much to provide for your capital. Business startups get their money by asking for a loan from the bank, inviting friends and families to invest in you, or simply to use a portion of your savings.

But the most common one is usually to loan from the bank. Banks will need some documents and even a business plan from you before they analyze whether or not to grant you a loan so prepare everything you need and make sure this plan will be able to convince them. List down all the materials you need in building that ATM company business. Here is a list of things you might need and things you will be spending on:. Make sure your rates will also match the competition surrounding you so you do not overcharge. With these rates, you can then compute how long it will be for you to reach break-even per machine.

By offering revenue splits with business owners, you can increase your chances of being placed in high-profit locations. Plan out a schedule for when you want to put your business plan into action. An operational plan just gives you a timeline for a possible startup date. Every business will have a lot of references and documentation going on which includes photos, a list of expenses, permits, and many other legal documents.

In conclusion, an ATM business has the flexibility to be a small business venture managed in your spare time with the ability grow into a large corporation with thousands of locations. What matters is building a network of consistent locations that are profitable and an operation planning for filling machines with cash and making repairs. We interview successful founders and share the stories behind their food trucks, restaurants, food and beverage brands.


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By sharing these stories, I want to help others get started. If you liked this story, sign up for our newsletter that includes our food business startup kit and most popular interviews sent straight to your inbox. Know someone interesting that should be interviewed on the website? Tell us about them here. Where can I find a cupcake ATM machine?

An ATM machine in Rome. Want to start your own food business? Share Tweet Pin. About the Author: Patrick Limdico. Patrick conducts in-depth research behind many of the articles and authors a lot of posts you read on FTE. Off the desk, Pat watches basketball and racing, a tech addict, an avid follower of American T. Related Posts. February 26th, 0 Comments.

How to Launch a Bitcoin ATM Business

February 13th, 0 Comments. February 7th, 0 Comments. February 1st, 0 Comments. We respect your privacy. This links are simply to help start off your research. Finding your own information is just as important and reviewing the ones listed here. A very important step before registering an LLC is to research state, county, and local business law and license requirements for you area. Some states require quarterly or yearly filings from LLCs. You might even decide you want to register your LLC in another state for tax or banking purposes.

Most importantly, research any and all Money Transmitter laws and how they might apply to your ATM business. We will touch more on that in another section. In congress passed the Banking Secrecy Act BSA , a law requiring financial institutions in the United States to assist government agencies to help detect and prevent money laundering. Identifiable information regarding your customer will need to submitted on your CTR. This is where KYC comes into play.

bitcoinsupport/ at master · zaowens/bitcoinsupport · GitHub

You need to know is purchasing large dollar amounts from your ATM in case a reportable incident occurs. FinCEN requires common sense reporting. Structuring is just like it sounds, arranging purchases to have an appearance of being smaller than they actually are. If you suspect a customer of structuring, laundering money, or just illegal activity in general, you are then required to file a suspicious activity report SAR. It is illegal federal law for you to tell a customer you are filing these forms. Also, regulations require the business to draft a written anti-money laundering AML policy.

The drafted policy typically states how the business will review itself to make sure that its own policy is followed. For smaller businesses this usually involves hiring an accounting firm to perform an annual audit. All customer records, especially larger transactions, are required to be kept on file for years.

Not keeping proper logs or backups could result in financial fraud charges by the federal government. There a few different methods for paying out BTC to your customer. You need to figure out how you want to distribute your BTC, and how your cash will eventually be transferred from machine, to the bank, from the bank, then to the exchange.

One method is to hold US dollar on an exchange in surplus to the amount of expected cash sales. As you can see, there will likely be a delay from transferring your cash from the machine to the bank, and then the bank to the exchange. This means you will need enough BTC to cover customer purchases, as well as USD in the exchange to cover the BTC repurchase, to minimize your exposure to bitcoin price volatility.

Review regulations and laws

Some operators have been able to cut out certain steps, such as purchasing on the exchange and sending from the exchange to the customer. This label by the federal government brings along a certain stigma. Banking is the most common point of failure when it comes to operating any kind of bitcoin related business, especially when your branded as a money services business.

You need to be upfront with banks about your business. You likely need to talk directly to bank compliance managers in order to even stand a chance of opening an account.

Project Synopsis

Lying to the bank about your business activities is a terrible idea. Same goes for using an already existing business name and bank account to deposit your ATM cash. You will learn very quickly that banks frown upon large cash deposits. In some cases, banks will open accounts, pass your account through compliance, then still shut down your account months later after seeing large cash deposits. This is why is important to be upfront with the bank, and work directly with compliance manager. Nothing is worse than setting up an ATM and closing it down 3 months later due to banking issues.


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Pay very close attention to any and all banking information is this guide. This cannot be stressed enough. You will need to decide which ATM manufacture fits your needs.

How to Supply your Bitcoin ATM with COIN!

The software provided by manufacturers will typical help run and monitor multiple machines. Read all sales contracts VERY carefully. Some manufacturers even charge a percentage of cash processed through the machine. Most have contracts regarding modifying the machine or require approval to resell your machine to another operator. For best results in setting up and forming your new business, you should have thoroughly researched all of the information above.