Bitcoin Forum

I've heard some exorbitant fees are being charged by the people that own these Bitcoin ATMs (which are probably a huge turn off to people, but then again if people are willing to pay for it then so be it) But I wanted to know if anyone on here actually owned one and could provide some insight into the amount of money that can be made by owning one of them, two of them, etc.

Let me know!

Many country have legal bitcoin transaction have try for making ATM for bitcoin, maybe bitcoin member could take profit by more easy for make  their bitcoin become cash money without have withdrawal fist.

I don't own one, but I came across this piece that discusses their operating costs:

http://www.coinatmfinder.com/blog/easily-can-set-bitcoin-atm-business/

It didn't tackle income or any usage stats of existing Bitcoin ATMs, but it does say that the average transaction cost is around 5.2%, so your gross income would probably amount to 5.2% of your total transactions.

This site has actual stats:

https://coinatmradar.com/blog/bitcoin-atm-profitability-part-2-real-examples/

Good luck!

it is about supply and demand in my opinion. for ATMs there is a certain type of demand from people who want that way of buying/selling bitcoin and since there isn't that many competing ATMs they will be willing to pay any kind of fee that you ask them.
and that means the profitability of it depends on the company and where they installed the ATM. i have seen different fees being charged and obviously some places (countries) these ATMs will be used a lot more than others.

This is probably going to be it, thanks for this information.

Everyone else just seems like they're spamming random bullshit about bitcoin ATMs and such.

It costs a lot more to run than people realize. In the Netherlands where it is quite competitive, net profit looks like 1.5-2% on gross transaction volume. So lower margins than Walmart. You can add in discriminatory banking practices, unreasonably demanding AML policies to get on exchanges and autistic libertarian clientele that only care about themselves. The clients will abuse any weakness in your policies so you have to constantly monitor the server.

 You will work harder and deal with more constant stress than owning a restaurant. I own a chain of them.

every deposit and withdrawal in bitcoin atms will have fees so that is how bitcoin atms survive

Yes... unless you don't have access to caah services and have to wait for a buy customer to add cash so you can have sell transactions. Or if more are buying and you can't deposit cash to send to an exchange to buy crypto.

It's not that simple, the equipment is low quality and doesn't come with instructions. It's all  trial and error. I would recommend some other field tbh.

The most important factor is what it cost to get yourself a license as money transmitter (and there may be other licenses you might need to obtain), which you have to renew annually. It all depends on the country and state you operate in, but it could go easily over $100,000 a year.

In that regard, it shouldn't come as a surprise that a 4-5% margin is somewhat of a minimum in order to make it worthwhile, especially if you deduct taxes afterwards.

That's pretty harsh, but hey, entities deploying ATM's know what they get themselves into. That's why most of the larger entities try to deploy as many as they can, because that's the only way you can have it work for you instead of against you. The cost of these licenses is a killer, literally. It's meant to demotivate smaller businesses from entering a space the larger businesses don't want them to operate in.  :-\

In countries where bitcoin is widely accepted, many ATM coins have been developed to facilitate the trader's conversion.

Its not about what is being said, its a fact on the margin that is being attached to the buying and selling of bitcoin on the atms and it's really not their fault because looking at the cost of installing the ATM machines, the security around it, the back end firewall that needs to be up to date, the liquidity that also need to be maintained the margin is surely justified but the concern is for those who are newbies and wanted to try something out would realise how they have been cheated by these capitalists when they realise that they could actually get it cheaper.