Cryptocurrency ATM Software

A Cryptocurrency ATM Software is a machine that gives access to people to buy bitcoins in exchange for hard cash. These machines is integrated with scanner, a cash dispensary and a automated system to manage the transactions. We, at Blockchain App Factory can help you create a perfect Cryptocurrency ATM Software software that will help your customers transact hard cash for bitcoin anytime they need.

Steps Involved in Cryptocurrency ATM Software

Identify and research the legalities of the money transmitter within the operating states

If the Cryptocurrency ATM is going to be set up in any area, research about the technicalities of the state where it is going to be put online. Most states are friendly with the Bitcoin services.

Register with Financial Crimes Enforcement Network - Money Services Business

Register your Money Services Business (MSB) with FinCEN to regulate your services and avoid money laundering issues and other legal services.

Create Bank relationships to eliminate potential risks.

Create and maintain relationships with the bank so that the transaction of giving bitcoins for hard cash may be regulated by the bank and replenish the bitcoin balance.

Implement an Anti-money Laundering program

By registering with FinCEN, you have to develop the Anti-Money Laundering program to prevent your Cryptocurrency ATM from being used of other money-laundering services.

Choose Cryptocurrency ATM Software type

Now that the legal and other issues have been resolved, check if your Cryptocurrency ATM Software is going to be one-way or two -way bitcoin issuer.

Test out the program and transaction control

The AML program has been created and now test out the program your AML controls and test out the threshold of your program.

Customer services

Provide a solid customer services to support and provide solutions for your customer’s grievances.

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