Xrp ledger decentralized atm

[chrish6366]

I would like to create an ATM machine that accepts Fiat converts it into crypto using the decentralized exchange but I don't know anything about coding .Iwas wondering where I should start. I don't have money to fund it it's a passion project.  I went to a Bitcoin ATM machine they had $100 premium on bitcoin plus $11 fee I don't see why you couldn't make a basically free crypto ATM machine that charged $3.75 per transaction. Any thoughts are appreciated

[chrish6366]

I believe I could get funding with a plan. Just started CPU science degree lol crypto. The only breaking edge tech I've done is installing PLC AC systems for Johnson controls back in 2008 I think. 

 

[at3n]

3 hours ago, chrish6366 said:

I would like to create an ATM machine

 

3 hours ago, chrish6366 said:

I don't have money to fund it

 

4 hours ago, chrish6366 said:

I don't see why you couldn't make a basically free crypto ATM

I think you've answered your own question? 

 

But in seriousness, have you looked in detail into how the XRP DEX works? I mean, you can't use it by itself to actually convert fiat to crypto or crypto to crypto, you need to use gateways to actually get value in and out. Once you're in, you can use the DEX for trading, but I don't think that's what you want?

So you'd either have to create your own trusted gateway (with associated regulatory compliance and security measures), or hold a supply of another gateway's IOUs, or form some partnership/integration with an existing gateway... Not things that can be done with no money, I think, which is why you'd need to charge fees.

Not to mention the development costs associated with the hardware and software.

For a home project, maybe it could go like this... Machine takes in fiat payment (using I dunno, PayPal for example?), which triggers a deposit to an exchange (e.g. Bitstamp), which is then used to buy XRP, which is immediately withdrawn to a wallet, then you could use the DEX to convert to an IOU of the purchasers choice, and send it on to their wallet. If you can learn to automate all of that with APIs that would be a good starting point.