Selling Bitcoin for cash in my store

Question

I am small tech store owner and I was recently thinking about selling bitcoins for cash into my store. A lot of clients asked me if I could install a BTC ATM in my store.

But investing in an ATM machine isn't possible for me at the moment. So I wondered if I could possibly sell them for cash directly. The question is: is there any service out there that provides an API to buy bitcoins with my credit card and send them to the client's wallet directly ?

I could possibly create that API myself and send the Bitcoins from my wallet but that would mean that I'll have to invest in Bitcoin and could possibly be losing if the BTC price falls down.

Do the ATM companies actually own Bitcoins ? Or are they purchasing them when someone uses the device ?

Answer 1

So far as I know, most store owners just rent floor space to a company that operates the Bitcoin "ATM". The store owner gets fixed monthly rental income and doesn't have to get involved in Bitcoin transactions themselves.

You don't need to invest in the "ATM". Just rent some floor space with power. I would expect the ATM operator (not the store owner) to arrange for Internet connectivity, but that's probably just a business negotiation.

One way to find a local Bitcoin kiosk operator is to search the map at https://coinatmradar.com/ - the operator's name is shown at the top when you click on a kiosk location after zooming in to an individual kiosk location.

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As Wikipedia notes:

"Bitcoin machines are not ATMs in the traditional sense". A better phrase might be "Bitcoin kiosk" or "Cryptocurrency kiosk" since they generally deal with one or two altcoins too.

"According to Coin ATM Radar, there are more than 800 Bitcoin ATMs in the United States as of 2017, with small shop owners earning a reported $300 a month for rental space." (my emphasis)