i'm planning on approaching the management of my local mall to install a bitcoin ATM on the premises. I've never done something like this, so I'm not entirely sure how much information to go to them with.
So far I've put together an outline that gives a quick background on bitcoin and blockchain, how it's used by end users and merchants, why it's attractive for businesses, how it can directly benefit the mall (esp. their cut/rent), and information on what legal steps there are for a company to operate a BTC atm
is there other information that I should include? is this too much, too little?
how should i approach the mall's management about this? "I'm interested in renting a spot in your mall for a bitcoin ATM and would love to meet with you to discuss the specifics?"
should I have a presentation ready, should I include a packet that outlines the above points?
thanks my dudes.
Connor King
i dont see why id ever go to a bitcoin atm, the fee is outrageous
Chase Turner
but, if i was paid in cash / a criminal then I can understand, that will be awkward to include in your presentation
Luke Harris
you and I, the bitcoin savvy, wouldn't, but as bitcoin becomes more popular, the everyday man will begin going to them. btc atm's perform $20k in transactions per month on average. especially as crypto becomes more mainstream, people aren't gonna want to go to exchanges for the coin
Camden Green
im really not that savvy I just bought my first coin this week
does the company who produces the machine get a cut of every transaction?
Grayson Bell
Don't do it at a mall I live in Canada and we have them here and there But they're always at grimy corner stores where crackheads tend to hang out Lower rent fees as well
Charles Davis
some companies do, but the one I'll be purchasing does not.
Jason Foster
why not a mall? much greater foot traffic, and it would justify the purchase of a model that's able to hold a large quantity of bills. all bitcoin transactions through ATM's, at least in the US, are required to verify identity, so it's not like this would be used by criminals.
Robert Sanders
how do they verify identity?
Mason Martin
i appreciate everyone's concerns and critiques of my plan, but that part isn't changing. i'm looking for people with experience proposing this sort of thing to large, managed shopping centers and the like.
most machines scan driver's license
Jeremiah Miller
bump. anyone got experience with something like this?
Luis Ramirez
Did that with Zaad when I lived in Somalia.
Make or get bosses to pay wages in Bitcoin and everyone will follow.
Sweeten the (bucket?) a bit and you'll make bank.
Andrew Murphy
I've sold shit to businesses and this woulf be no different.
What's in it for the mall? How is the mall benefiting off of this device? Why is this going to be more successful than ATM or money processing companies that already do business with them? How will bitcoin transactions work for their tenents? These are questions the mall manager will ask and you better have good answers for them.
Brody Gomez
Malls keep track of how much money is moving through their stores, they know approximately what demographics use the mall and how much vendors sell. My thing is, that cash flow variable typically doesn't expand for malls over time, so why do you think this idea will work considering people already use regular currency? Why would making customers iump through hoops to use a bitcoin wallet setup be more useful than a simple debit card?
Bitcoin is a pipedream that will never happen, it's a fad like pokemon or baseball cards. Businessmen like you need a convincing argument to explain why this is "the future maaaaan" other than some libertarian hippy bullshit that other businessmen will see right through. Businessmen are conservative, a mall isn't going to waste it's time if they perceive your some weeboo hippy tech nerd
Dylan Reed
thanks for your comments. My main goal is finding a high foot traffic area to place my bitcoin ATM, not necessarily to get all of the mall tenants to start accepting it, though that would be a plus....
anyway, I appreciate it dude, i'll take everything you've said into consideration.
Jaxson Smith
What country is this in? Malls in the US are pretty much dying right now.
Logan Myers
US. They are? How so? Do you think helps or hurts my chances? It's basically free money and additional foot traffic for them.
Adrian Barnes
Do this, forget about explaining the blockchain. They don't need to know and won't care (and will get tired of you)
not at a mall because it's expensive to place (likely the most expensive in town)
Mason Watson
Here is what I did, no 'explicit' details because we are kind of competing for the same business..... but I'm feeling generous I guess...
What you are doing wrong is just what this user said. There is really no upside for the mall, and you probably are not going to be able to sell it to them in a way that is going to be profitable for you, because it really just doesn't match their market.
You know who's market it does match well with? Smoke shops/head shops, when you come to them about bitcoin atms, they are all ears, matches up with their consumer base perfectly.
I have successfully put profitable btc atms in several headshops.
Hope this is good advice, plz don't use it to fuck over my business.
Josiah Perry
deeply appreciated, user. if you're still around, you think you could let me in on how much you do in transactions each month on average?
Nathaniel Barnes
this is a good point only btc atm in my town of 300k was in a hemp store
Joseph Hughes
>Hey Pete, we had some request to install a "bitcoin" ATM in the mall. Do you know what a bitcoin is? >No idea Phil, lets google it. >Hmmm, it appears its some kind of fake internet money people use to buy drugs and other illegal stuff. >Are we sure we want those kinds of people hanging around our mall?
You will need to find a good way of explaining why such a thing should be on their property OP.
Juan Thompson
I wish I could be there to watch them laugh at you.