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File: 92 KB, 512x1024, 512px-CoinFlip®_Cryptocurrency_ATM_in_Peoria,_Illinois.jpg [View same] [iqdb] [saucenao] [google]
23246225 No.23246225 [Reply] [Original]

I manage a wine and spirits retail store. I field a dozen or so telemarketer calls everyday, and most of them end with me hanging up on a robot or a pajeet who won't stop talking. But I just got one that interests me. A pajeetess wants me to put in a bitcoin ATM that will net "up to $1000 in fees per week".
Anyone have any experience with these? What do you think?

>> No.23246880

Well shit, if Elon put one in the Gigafactory you might as well too.

>> No.23246900

set one up yourself, with a reputable btc atm company, not with vishnu

>> No.23247133

>>23246900
Recommend a company or three? It's hard to know who's reputable in this business, or what the metric for reputable even looks like.
I'll note that a couple of the hood stores in my city have them. I don't know what companies they use, but I could find out.

>> No.23247328

>>23246225
Only worth it if your store is near a lot of mexicans/immigrants. The main use for these is people sending money (cash) home

>> No.23247431

>>23246880
I just looked this up, and apparently this is very recent news. Which is probably why an indian is calling to try to sell me one, and probably means she's a scammer.
But I'm still interested in the idea, having Elon and Tesla attached to them makes the ATMs seem more legit to normies.

>> No.23247559

Went to the local mall for the first in over a year. Saw one of those Bitcoin atms. Price was like $2k over the actual price at the time. Anyone know how fucked the fees for using these?

>> No.23247570

Bump because this would be a neat gig to get into.

>> No.23247592

>>23247328
They're a very small part of my customer base.
No appeal to normies who don't want to deal with the hassle of exchanges or making their own wallets?

>> No.23247623
File: 206 KB, 427x434, slop slop.png [View same] [iqdb] [saucenao] [google]
23247623

>>23247328
interesting, here I was thinking to put it in a nice neighborhood.

>> No.23247683

>>23247592
>>23247623
Yeah none of these people have bank accounts. Even with the fees, its cheaper/easier than western union

>> No.23247745

I mean, I really don't get who uses these. The fees are so fucking retarded that any sort of convenience factor is mitigated, and they borderline require KYC anyway. Might as well buy a knife with the difference in price and then go do localcrypto.

>> No.23247770

>>23247683
damn looking at my city and they're already all over the place.

>> No.23247799

>>23247592
Unfortunately, the bitcoin ATM industry is known as a bit of a racket. Would avoid, it's very difficult to get above water with those.

>> No.23248035

>>23247745
fees at one near me are 2.7% for buying

not THAT bad honestly

>> No.23248076

>>23248035
Are you also taking into account that the buying price is absurdly inflated over the actual market price?

>> No.23248116

>up to
Enjoy your net loss of $20 a week in electrical costs when nobody uses this

>> No.23248151

>>23248076
just checked, $150 more than the current price

yes it's an inferior method of buying, but an option for basically anonymous no bank crypto buying

>> No.23248162

>>23247799
>very difficult to get above water with those
I've had vendors who wanted to put cash ATMs in my store for free, presumably they make back the cost of the machine, installation and maintenance from fees alone. In fact, no one who's ever wanted to install a cash ATM here ever wanted to be paid for it. There must be some cryptoATM companies who operate on the same business model, right?

>> No.23248247

>>23247745
Money launderers and people sending funds to their homelands

>> No.23249037

>>23248151
That's like a 1.5% fee. Some exchanges are worse.

>> No.23249124

>>23247133
You guess would be as good as mine.
If someone is contacting you about getting an atm and giving you a “good deal” that means there is probably more money to be made on this then they are willing to let you know about.
I would just search the most popular btc in your area and go from there. Get a quote from each one etc

>> No.23249291

>>23246225
Buying btc from your phone is becoming more accessible and user friendly for normies than it's ever been so why would they use something like this. In Australia you can also buy btc at any post office which seems alot more reliable than some random atm. We had one of these atms in Melbourne's biggest shopping centre and they removed it recently I never saw one person using it in 2 years. I think it's an outdated novelty idea that isn't worth the roi.

>> No.23249342
File: 1.61 MB, 4928x2772, Benny.jpg [View same] [iqdb] [saucenao] [google]
23249342

>>23249291
NO KYC FAGGOT

>> No.23250468

if you are in a ghetto area it will get good usage
anonymous way most use to buy larger quantities of drugs from darkweb so ive heard

>> No.23250598

Can you bring $11k in cash and buy a whole BTC in one of these?

>> No.23250651

>>23246225
Anon, if you are doing it, make sure they allow withdrawals, I have used tons of these and usually the ones to withdraw are only one in 20 as owners usually to lazy to top it up, and so if you have withdraws you will be the only one in a wide radius and get more than double the fees

>> No.23250708

>>23249342
>no KYC
Have you ever used one? Even for a pathetic limit of like $200 you need a burner phone, anything more than that you need your actual ID. And on top of that, every ATM in existence has a camera, don't think a mask, sunglasses, and a hat is going to help.