Bitcoin Forum

For the past few week i having thinking about Starting My own  bitcoin ATM company , i have been  doing allot of research about it and its seems there going to high  cost as start up  .. My country is the one top 5 africa countries that uses bitcoin but yet i have never seen any bitcoin ATM here . I really need advice from you guys .  Is bitcoin A profitable Business and if you any manufactures of this ATM you can recommend to me !!

I think it will be a profitable business. The main question will be how your authorities treat cryptocurrency and whether there are any prohibitions or certain restrictions on their use and distribution. You will need to consult a lawyer and learn from him all the subtleties of the legislation of your country, otherwise you may expose yourself to danger from the police. Therefore, I would have thought very well in your place before implementing this idea. For example, in Russia a criminal case was opened against a person who installed Bitcoin automats. As far as I know. Because in Russia, cryptocurrencies are considered cash surrogates.

I used to live in a 2 million-person city with only 2 bitcoin ATM-s. Rest assured, they were profitable (I know the owners). In addition to the ATM, they also advertsied another bitcoin-related business on it, so that helped.

It depends on your area though.

I leave $50 worth of fees at my local ATM, it takes a couple hundred people like me to make your ATM successful.
Agree with the others, you need to share your location before we can really help you.

If such a business is not prohibited in your country, then it may well be profitable, this is a novelty, and it must develop successfully. However, at first there may be few users, but then, everything will fall into place, and you, as the owner of this business, will be satisfied, the only drawback is that large financial costs can be for installation, but also morally.

It's depend !

If your government support crypto that your people will start to use crypto as daily transaction.
If there are a lot of demand, ATM business is profitable so just make sure that it happen.

Personally my government still forbid crypto so there is only 1 ATM in my country

Forget the governments, regulations, etc it's not the real question here.
@OP the answer is simple, you're already a bitcoiner, so ask yourself this question. As a user would you use a Bitcoin ATM to buy bitcoin ~10% higher or to sell your coins whereas you can sell for a better price? No, I guess. You, as other people would be ready to use it 1 or 2 times to see how it works just for fun, but in a long term, nope.

So, the real question is, is there a real demand to develop a market? If you can't offer a price close to the average people won't be interested, and if you do, you won't take a profit. The only profits will come from people curious to use it 1 or 2 times but these people aren't returning customers.

I cannot remember where but I read that the number of bitcoin ATM's doubled last year compared to the previous. I guess BTC is widely used in those areas. The question here is, have you checked or asked people in your area if they know about BTC and if they are willing to use it?

Exactly my sentiment, you can't put an ATM in the middle of nowhere and expect it to be profitable, but it is anything but a saturated niche.
OP doesn't seem interested in sharing his location though.

I'm sure it is a very profitable business. Firstly, if there is not many ATM in your country, there is certainly demand and you would be one of the first to give that service. And then, ATM's are highly profitable because most of them have a differnce from the actual price, sell price is lower while buying price is higher or same. You will have enough for fees and a big profit if many people use it.

It's good that you did a research that bitcoin ATM's aren't yet crowded on your country. I read a post of a bitcoin ATM owner when there's a news about the bitcoin ATM theft case. He said that it's not just about the ATM, operator and the cash that's inside the ATM.

You'll also have to secure and insure it which means you'll have to buy insurance just in case there's something bad happens to your ATM's. If there's quite good number of crypto users in your country and you're the very first one to apply it, that will click.

You have a good idea to put a bitcoin ATM but right now i think this is not possible because as you can see the value of bitcoin this is to low and everyone was bothered and stress on their lose but try to think first what is the possibility  or the concept how you earn. Bitcoin ATM is for the future because right now we are on going to cashless society.

Of course it is a lucrative business if you put an ATM in a place where many foreign tourists visit your country, of course it will help foreign guests in exchanging currencies to make it easier, even though in my country only some cities have it but at least enough to help your country's economy in the future ...

an interesting question that i have been wondering myself ever since i saw a surge in number of ATMs around the world recently.  i think the profitability of it depends on a couple of factors. for starters the country you live in and the laws of it. in some places installing an ATM may cost you a lot more than it can make you not to mention the problem you may face legally. like that dude in India which tried it recently without a license and was arrested for it.
the other issues is that ATMs have a certain clientèle. not everyone wants to use an ATM, only those who want the maximum anonymity use them and since the fees are already high that limits the customer base a lot and with it the profit that you can make.

I think your business is quite impressive but you need to have huge amount of bitcoin and capital. Having this kind of business will have a good effect in bitcoin and in bitcoin community because they can easily convert there bitcoin into fiat and vice versa. I hope your business will success.

in my personal opinion the bitcoin ATM business is very profitable, because we all know that technological progress is progressing and developing, and the longer the use of bitcoin is increasing.

Yeah, it's really profitable, and its significance will rise even more in the future. If you can start up one, then good for you. It's always an edge to be the pioneer. Just imagine the charge that you will gain from running one plus the rise in the value of bitcoin each year. You will surely explode in profit.

definately not if you run a pure bitcoin ATM,

but with flexible ATMs you could have a future

as someone who has never used a bitcoin ATM and i probably will never use them because i don't see any point in doing so with their high fees, i have to say it doesn't look to be a profitable business to me.
but at the same time when i look around i see a lot of them popping up everywhere. so there must be some profit in it that they are doing such a thing.
what i can suggest is that you investigate in your own country and specifically in exact place where you want to install the ATM machines. you have to see if there is any actual demand for such a service there and that's not something we can tell you on this forum.

For now, I think it is not because there are only few bitcoin users use this features in converting fiat money to crypto or vice versa. This because bitcoin is not yet widely adapted even to those countries which bitcoin were relatively known. However, bitcoin atm could be profitable in the near future. Well just have to wait and see when will bitcoin be adapted from every countries around the world.

Yes, this is a profitable business, but be prepared that at first there may be few customers, since many will not want to shine, they know about the bottom in general. There are many reasons for this. But in general, the idea is very good, and it needs to be deliberately implemented.

Btc has potential to remain profitable in the future because of its deflationary character.

It allows you have option to opt in and opt out of the world fiat currency in which everybody has to play it. The rule is simple. The fiat currency mechanic is deflationary currency which lose its value on Day to day basis. Bitcoin mechanism is deflationary currency, it has limited supply, no one will be able to print more money. In the world of fiat currency, everytime you woke up, you are poorer because the fiat currency value less. You see goods and services raised every year, its not the fruit you buy that cost more, it means the fiat money such as US dollars, euro, yen, etc… lost its value...

If there is a high demand yet ATMs are limited in your place, it is a good idea to put up that kind of business. Before starting ATM business, you should also do research about the number of your possible customer and if you can really gain profit from this. Other factor that should also be considered is the competitors. It is an advantage if there are less competition happening in your place.

this is a good step and you will get a big profit, but you have to advertise this in your environment seriously so that you can attract a lot of interested people. run this business in a city with a large population is a good way because more people know it, the sales ratio is higher

Bitcoin ATM should have at least the same profitably as a classic exchange has, or even more as competition is lower yet on this segment. Principle is the same: They but Btc lower and sell higher.

I heard already on this kind of business, even in ICO's, I heard it already. Having an ATM card or a card that they might store Bitcoin and cash ot or pay bills payment. But it seems nothing since Bitcoin is not yet legal. So, I think it might profitable if you are going to publish it longer and have a bounty program here or any website that can drive traffic.

this might be a good step to start a business that will possibly become a hit soon  but for now you cant expect to earn huge profiits becuase  bitcoin is not yet really popular on most countries . atm business does not also need advertisements because you are already exposing it to the public . though you may need to put some catchy banners to attract alot of costumers  .  the idea of bitcoin atm's can even encourage people to try and use bitcoin . win or loose , bitcoin atm's are still helpful to the crypto community  .

Do you simply want to hire a Bitcoin ATM from a existing Bitcoin ATM distributor or do you want to start manufacturing and distributing these Bitcoin ATMs yourself? You did say, " ….thinking about Starting My own  bitcoin ATM company… " so I assume you want to go into manufacturing and distribution, right?

The competition is tough in this industry and your competition already have a huge advantage over you, because they have built up a Brand and reputation in the market.  :P

with the bitcoin ATM, of course, it can provide a small advantage for companies that provide bitcoin ATM services, usually they will add more shipping to bitcoin ATMs so that companies will only benefit if someone uses the ATM machine.

Yes, you should definitely try. Perhaps this will increase interest in bitcoin in your region and lead new people into our crypto community. Very well what you want to spread information about bitcoin. The main thing that the authorities have not applied to you any sanctions for.

Teamfearless, I think it would be very useful to first of all make a good market research in your country about whether people are willing to use BTC ATMs, and what fee they are willing to pay for it. It is also very important to study all country's tax laws and what is the status of your country in relation to cryptocurrency.

Business with ATMs certainly can be profitable, but you must have a good user base who regularly use such services. Also you should not exaggerate with the fees, 5-6% of each transaction should be quite enough for you.

You can find more information about manufacturers on this link : Bitcoin ATM Manufacturers (https://coinatmradar.com/manufacturers/)

It is all about location, just ensure they are placed in a location where there is suitable demand. If there are drug dealers nearby they will certainly use it, or a densely populated area

In order to actually make this work and actually profit from it you have to consider 2 main things, first the number of people that actually uses bitcoin in your country and this is mainly tied to how many shops/ places accept it as a payment method, because there will be no need for a bitcoin atm if people can't use bitcoin, which is also tied to weather the government is ok with it or not, and the second thing is the place that you are installing the atm at, for instance if you put it in like a train station you will be targeting more of the locals while when you install it in an airport you will be targeting more of the tourists and foreigners.

I think it's a great idea for business. While bitcoin is not so popular, but soon it will change and bitcoin ATMs will be a great success and demand and that in the future will increase your profits many times. In the meantime, you need to contribute to this and I think you will succeed.

making a pure BTC/ETH/LTC ATM doesn´t make sense to me except you have High Volume Like in Huge Malls.

Small shops profit quiet well from BTC ATMs with different Coupons, cause they have more Visitors and get may
people in which would not visit a ShishaBar, ÖKO-Shop etc. otherwise, also after the user knows how to use it he is encouraged to Speak/Buy/SpentTime in the shop afterwards.  Tee or coffee bar would be not bad  :D       

Bitcoin will always be a profitable for the business. Let us use our common sense at this point of time, why most of the merchant nowadays are bitcoin accepted to their owned business as their mode of payment? do you think they don't see any potentiality in it? or Do We think that the investors who adopted it will waste their capital if they know its not good. And why DELL company also adopted it too, it means bitcoin has a brighter future ahead of us.

Bitcoin ATM can be very profitable if implemented properly because when placing an ATM machine to do bitcoin transactions you should consider many things such as the type of people live in that area, There knowledge about technology, average age (because younger generation is attracted to digital currencies that older people), Government view regarding bitcoin and many more and if you implement bitcoin ATM project by considering such facts I think success is inevitable

I do not agree to the point that other users has stated that the bitcioin atm machine is profitable. Bitcoin has still not adapted and even use as a payment. The demand is not that high and it will even be an expensive for it will have maintenance and the electicity it will be using.

I never truly researched about it since i'm personally interested on doing other things. However, i did read an article where guys in Venezuela where going to install the first ever Bitcoin Atm machine so you can imagine. If someone in Venezuela can find it profitable anyone anywhere in the world can find it profitable too.

It is highly dependent on the location you are placing your ATMs.  Then you have to pay the mall or store that owns the land a fee.  You would probably make much more just straight up buying bitcoin yourself and waiting for the next all time high.

It depends upon which country you are planing to start this ?  It can only be started where bitcoin is legal and governments has no objection in bitcoin business.



You need to support your opinion with complete project plan on how profitable this business can be and what will be the investment profit ratio ?

I agree the transaction fee should be very low and it is the main idea and the reason why bitcoin was developed to make low cost transactions without any barriers and if ATM business to develop it should be considered as significant and it will become popular quickly because the bitcoin community is still growing and placing machines will make a big difference. This will show the world that Bitcoin is usable in every where without any barriers and this can collect more cash flow into Bitcoin from local communities because with this more people will start to use Bitcoin so more will have to purchase it and eventually demand will rise

it depends, if bitcoin dont die then it will be a profitable one but if people loses the faith due to masssive downfall of it recently then the dream of being a decentralized society will vanish.

You know the government is doing everything to get rid of the things that gets on its way and they consider these things as threats, i wish people realize that freedom is the key to a successful economy and that will only happen if the government stop manipulating us.

Yes, it can become Profitable business if you are running your business in the place where there are so many people who used daily and know how is cryptocurrency work.  Then you should tell and promote to the people around your business area how good and profitable your business for them

Bitcoin ATMs weren't that profitable in my opinion. Got to know about it through an news article which describes about the shutting of lots of bitcoin ATMs around the world. People try to cash it out through trading platforms due to the increased transaction fee of bitcoin ATMs. Also not much of people are aware about the bitcoin atm.

I do not agree on most of your points here. There a lot of Fiat currecny ATM in our country and no one damages it. Why would anyone damage the Bitcoin ATM ?
Also no one will close it because you will only start the BTC ATM once you have taken permissions from the legal authorities.

Maybe you better ask in local forum in your country or maybe city. Because i know put bitcoin atm is not really used by people. In my country there are several bitcoin ATMs but not a lot people use it because they already have fiat.

This is like asking me if a hamburger stand is a profitable business.
It depends on certain things like location and traffic- but I dont think many people are seeking out to find BTC ATMs.
Another thing was if this was a profitable biz then you would see much more of them.

I think it will be profitable soon, but not now. It also depends on your government.

I can say yes they are .  i know others might disagree with it because they thought btc is not yet well known  .  that is actually your advantage  . real business minded person take that as an oppurtunity to be the first one to open that kind of business .  

They can get more costumer because no other atm's available on that area aside from them.  How much more if btc will become a widespread later on ?  Their existing costumers will only add up  because they are the pioneer  .

Depends on the geographic area and country you are planing to start business. To my opinion in majority of Europe they are not so popular anymore because people have other more convenient options for buying or selling Bitcoin. Maybe with good promotion you could attract more users and also attractive location could have its advantages.If you don't need a lot of administrative work and permissions and it's no big investment you could try.

I don't think that it is very profitable right now but it has great potential to be in the future.

It depends on how many people in the city uses cryptocurrencies and what is the exact number of citizens that live there, their income etc. You may be in Top 5 countries in Africa that uses crypto but too little of people to use them in your area.

My local Bitcoin ATM company seems to be operating in other ways apart from the ATM such as trading and investing. Maybe they do that so as to keep a stable income.

Due to the high demand of the people to bitcoin, the bitcoin atm is now a trend because users can easily buy bitcoin through bitcoin atm. There are now also businesses in my community that accepting bitcoin and that's why there are now bitcoin atm in my community.

If your research result is showing that you have the market and  also the cost of procuring and installing the ATM machines then do the simple arithmetic to know whether the commissions gotten will be able to pay the bills. If the figures are good then go ahead.

I think you need to ask with the government about your idea to build bitcoin ATM because it's related with their regulations. And if they approve the crypto, then you can start to make a company, and you can place the bitcoin ATM. I think there will be many people will involve in this business since you need approval from the other business owner if you want to place the ATM in their store. I guess you want to set the ATM in the malls or the shopping center, so you need approval from them too.

Well depending on where you're located that is. If people in the area are mostly aware and are crypto literate, then i guess the cost of setting up a btc atm would at least be worth it.  Generally though, it's not going to be as profitable as we would like especially with the state of the market and crypto at the moment.

The same rule will always still apply, if you think that you are creating a business on a market with no competitors it is the best time for you to gain as much market share possible before a new company enters in your market. Just like in any business your top 3 priority is Location, Location, Location as this will determine the convenience and availability your service has for its customers, the other part of course is marketing your new service, since you know it yourself that as of right now there are no existing Bitcoin ATMs in your country its the best time now to introduce that you are the first one to make it available.

In my opinion I think no, because its defend in the market price of bitcoin and also its defend in your government if they support that kind of business. ATM is profitable business but in cryptocurrency i suggest don't do it. Because the price of cryptocurrency is unpredictable.

Well, for right now it seems like the Bitcoin ATM business is not a good thing. People prefer efficiency and buying bitcoin from exchangers is something more efficient than having to go out just to get an ATM like this. Moreover, The crypto hype is currently weakening so this is the bad time to make that kind of choice

Nice hearing that as it will add more information about bitcoin from your community, having this atm will bring curiosity with people who's not aware yet regarding to crypto/bitcoin industry, I also wanted to see how this atm will bring profits to people who'll going to take part of this kind of business, I'm interested to learned how things works and if there's estimated percentage of income per months.

It's really depend about how easy people can buy bitcoins elsewhere like exchanges, and what fees you will put on sales. Its also depend on your government, do they approve bitcoins trade.
If  the costumer you aim for dont have banks or credit cars, then selling Bitcoins to  FIAT money cut be a great business, but first you need to find out what the demand are in your city.

Could be profitable if you focus on the fees, but the problem is the bitcoin volatility, because if you create an ATM some part of the capital will be in bitcoin, let's suppose you have 50% in BTC, so, what will happen if btc price drops 50%, then your business will be down by 25%, and that could represent a huge lose. But you can think about the inverse scenario, what would happen if BTC goes up by 100%, then your business would be up by 50%, so, in the end is a bet where markets takes the decision.

After having legal advice from an experienced lawyer and you may consider to apply to authority in order to obtain permission. Since you are going to be the first, you will you will have to overcome many bureaucratic problems. But if you succeed, you will be able to generate a significant amount of revenue from this work in a short time by using the advantages of being the first company in your country.

Yes, it must be feasible first on your place before putting Bitcoin Atm machine or else you will lose money. Location is very important so if its on the right place with huge demand for cryptocurrency, that business will become more profitable just make sure the security of your machine.

Do you mean you provide the ATM for peoples ? I wonder how much did you spend to afford the machines alone.
But if you are the only one and no competitors yet, i think you will be able to gain some profits from your country.
If there are many peoples who using bitcoin in your countries, then you will be good, although im not your financial advisor.

You’re doing alot of research about bitcoin ATM but you haven’t even saw a single machine?so whats the research is all about?You should have look at it and observe if that business is well used in your place

Because just like in my country when bitcoin is available in local cryptowallet so we don’t really need to have such machine,though theres are several that sits in major city’s

It also depends on how BTC flows in your country/area. While Bitcoin ATMs are sure to be profitable in the first few years, but people are constantly looking on other ways to transact and interact with other users/holders. Imagine our current ATMs -- they're good and a lot of people are still using it, but they can usually interchange it with their mobile phones for paying, etc.

You can push through, but look for other ways to expand this idea fast so that you can invest the first few years of income into other things that are more stable that this.

You need to conduct a research or survey to make sure that there is a demand of a bitcoin atm in your country. At least there must be a group in fb that is dedicated for your country and ask people there if they would like that service to be available. It might not be very profitable today but it has a bright future after a few years.

He will need a lot of money to start that business because after he installs the ATM in one or more places, he needs to introduce to people about how to use that machine. Besides that, he needs to determine how much money he will use to promote the bitcoin ATM and how long he can promote his business. I hope that he can calculate how much budget he will need to do that business so everything will under his control.

Of course this is a very profitable business for everyone who runs it, of course we can also introduce many people to the development of bitcoin in the community, to make it easier for everyone to buy or sell bitcoins using ATM machines and I really want to see how this ATM system works , whether it will be profitable for business people or it will be the opposite ...

Do you plan in starting one I would not say it's very lucrative because it all depends on the acceptance of bitcoin in that particular locality.
Bitcoin is still growing so is bitcoin ATM but with time it should be lucrative

Probably most people, even on here, have never seen a BTC ATM, because there's not that many of them out there. In an article posted late May of last year, it said that there were 3,125 machines worldwide (https://bitcoinist.com/now-over-3000-bitcoin-atms-worldwide/ (https://bitcoinist.com/now-over-3000-bitcoin-atms-worldwide/)).

Here's some points from an article posted Feb 11th, of this year:
-Almost 32 million bitcoin wallets had been set up globally by Dec 2018.
-An estimated five percent of Americans hold bitcoin.
-There are 7.1 million active bitcoin users.
-Leading exchange Coinbase has over 13 million users.
-Emerging markets users, who are often not considered in statistics, are
  likely in the millions.
(https://www.bitcoinmarketjournal.com/how-many-people-use-bitcoin/ (https://www.bitcoinmarketjournal.com/how-many-people-use-bitcoin/))

It's only really going to be profitable if there are a good number of Bitcoin users in your area (keep in mind that it's on its longest bull market ever, and many people during the bubble lost a lot of money in BTC and other cryptos), OR in the probably unlikely event that Bitcoin hits record high numbers again, like really big numbers, and you get a few transactions. In my opinion, no one should be going all-in to Bitcoin, unless they are simply using it as a temporary way to transfer money digitally, or if they are actively trading crypto and know what they're doing, or unless they simply want to set a little bit off to the side for speculative purposes in case Bitcoin does rise in price again (but nothing more than they are willing to lose). Remember it's a volatile asset, and some even say it may dwindle down to nothing... others say it will live on and grow, or maybe something in between will happen.

Just be careful, there are other things you could invest in or make into a business I'm sure. And maybe BTC is something that will take off in your area. Just do your research, and be sure of your decision. If you're the entrepreneur type, might I suggest listening to Josh Tolley on YouTube, or visiting his website at: www.joshtolley.com (http://www.joshtolley.com), he has an online entrepreneur university called Purple Monkey Insititute, and a business aggregator called Purple Monkey Garage. He's got two books that I know of, one called "Quit Your Job Or Die" and the other "Evangelpreneur". He's like one of the top 100 business coaches (in the US or the world, I forget). Keep in mind if you're looking him up on Youtube that he also does a talk show where he discusses a lot of interesting topics with guest speakers that aren't related to business. So look him up with a keyword like business coaching, or entrepreneurship, or how to start a business, or entrepreneurship, or business coaching, or business presentation, or small businesses, etc. I've heard he's taken homeless people and helped them start their own businesses, so he knows what he's talking about.

Hope that helps,
Have a good day,
The Cyberius team.

I'm sure they are, otherwise they wouldn't appeared more and more in my country,  even in smaller towns.

For them the principle buy cheap sell high is guaranteed,  so why wouldn't be a profitable business?

True that, so far there's only 1 ATM in my country and it's not even located in the main city itself.

I personally think bitcoin is not a business, it is a digital currency, just like your money. With doing business, you can earn money or bitcoin too.
When you want to start building your own company, it will become a business.
If you think providing bitcoin ATM to public will be profitable for your company, then starting as soon as possible is a good step.

The fee on withdrawing FAIT in exchange of your bitcoin is really high, this will result for a huge profit of the ATM owner.
THis is one of the reason why some banks are pushing to have their own.
but how secured in transacting on ATM machine?

..in my opinion, Bitcoin ATM is really profitable specially in your country because the use of Bitcoin there is now legal,,however,,it is up to you if you will still pursue to continue this business beacuse it is really costly..if you think this will give you the oppurtunity to gain profit, then do what your heart feels,,

If you know there are enough people in your country that use Bitcoin then it will surely be a profitable business. There are a lot of people who would like to buy crypto but they are afraid of not getting scammed and thats why an ATM would be very useful because its easier,faster and safer than all the exchanges that they can find online. The chance of getting scammed by a legalized company is much lower than being scammed by a website that is a few months old.

As long as there is no platform that you have to pay every month, there are no bills that you have to pay for bitcoin ATMs, so of course this business can be profitable. yeah the number of users will affect your amount of profit, but if you can be the first, many people will more trust your ATM

If we talk in business language then talking for benefits of customers is not first priority. IMO business expenses will be more than planned because of   small circle of customers who know about crypto,so we need to aim for customer data for nailing major city for such type of business model. Online transaction are not more safer than dealing with physical technology but combining both will not guarantee project to be subject for vulanerable attacks to system. Honestly, running online exchange company is more affordable compared to dealing with government for opening crypto payment system.

Myself as far back as I saw a flood in numurous ATMs around the globe as of late. I think its gainfulness relies upon a few variables. first off the place you live in and its laws, in a few spots introducing an ATM may cost you significantly beyond what it can make you also the issue you may confront lawfully. Issues is that ATMs have a specific customers altogether. not every person needs to utilize an ATM, just the individuals who need the most extreme obscurity use them and since the charges are as of now high that restricts the client base a ton and with it the benefit that you can make.

But he dont like to built up an exchange but rather he do pursue to have his own Bitcoin ATM company. There are lots of factors would really be faced up or requirement before you can able to build one and as said you would really need to deal with the government.This is still a long process at the same time it do really need some serious cash start up before anything would be set.This is a profitable business but depends on how many people are well aware of bitcoins existence into that place.

Given that there are potential users in your area. You need to check the competition and I mean not the Bitcoin ATM providers but the traditional BTC <-> FIAT on how much do they charge to convert the BTC to your local money. Then check if you lessen the fees or the spread if you will ROI in a year or two.

Its risky business because you step out of internet world where you don't have high costs included.
So you need to buy expensive machines, you need to rent place to put them, you need to pay for servicing it, you need to consider devastation of your property also.
Taking all this into consideration no wonder ATM business have so much fees when buying from them like 30%

I'm sure that at certain time, Bitcoin ATM will be profitable so don't be surprised if the numbers are growing. Germany recently has 16 ATM open,

https://www.reddit.com/r/Bitcoin/comments/bhk6qc/16_new_bitcoin_atms_installed_at_various/

So I guess those ATM operators are anticipating a big surge in transactions specially if we are going to approach another all-time-high in the next couple of years. It's business by the way and business knows how to make money in the future.

It would be interesting to know how these ATMs are popular or not after a 5 year period. At the current time, I hardly doubt it's a profitable business, let say just to cover the ATM costs. The demand for Bitcoin is small and when it's about using ATMs it is so marginal, and the fees are usually high. Owners have to bet on the mass adoption, in the long run, to make it profitable, which may or may not happen.

I think that totally depends on the country, current regulations etc. so no one can say it will be profitable or not. I don't know the costs but it can be profitable if there is a real demand for that.

As you have states that your country africa is one of the top countries using cryptocurrency so you can get earnings on it. Just make a study first as this is the first thing that one should consider before implementing the project.

If I were you since you will going to integrate it with an atm cards and an online system app that will act as atm.machine should run first in your area. Meaning a small start would do and if you are earning on it then you can expand the business over a period of time.

Setting up any business, you need to perform feasibility study. Don't just rely on demand. There is a lot to consider and requirements especially bitcoin ATM business is not a typical business.

Bitcoin-related business is always a concern to the governments. Just make sure to check for the necessary permits if these are available with the specific locations.

Yes, I agree that Bitcoin is really a Profitable Business where you say that there is no such thing in your area, so your business certainly can move very quickly to a higher level. But if you do not get government permission then how can you do it? Transaction charge If you can keep a good average, then there is no other thing, your business definitely will move better.

I think that would be profittable if and only if you pick the right spot where youll be putting your bitoin atm.When doing business like this spot is the number 1 thing you need to find out first where do you know that there are more bitcoin users out there.

Well atm company that sell Bitcoin to me is standing and slowly expand their business to other states

Isn't it? Nowaays many ppl have farms n use green energy. So it's a great profit

I agree with your question
Because you did a lot of research on bitcoin ATMs, I have never seen that machine? same as in my country when bitcoin is available in a local cryptowallet so we don't need to have a machine like that, even though there are some in big cities

Starting Bitcoim ATM is needed a big capital because you need a machine a lot of process and for sure you need to hire professionals for that. I do not know is bitcoin ATM is profitable as business but if you really want it why not. Once build bitcoin ATM to your country it will big help to the crypto community because many crypto user can buy and sell to your ATM.

i can agree with yours sentence!
but this is really improbable in EU!

It will be a good business if you are in the place or in the country that bitcoin or other cryptocurrencies are popular and also if your country is modern because here in our country bitcoin is still not accepted by the government that's why it is not recommended here to build bitcoin atm business.

Well bitcoin ATM is going to be a good business where is currently acceptable for transaction, I believe the more it goes popular, then see it as good profitable business, looking forward to see it accepted everywhere.

There are already many crypto users, so I should say that ATM businesses nowadays is really profitable. Sadly, there are only few banks who are providing this. If they will just gonna spread ATM machines, it would be very easy for us crypto patronizers to withdraw. Anyway, it is a testing stage for now. Hope, it will other banks will reconsider to open up somethng like this.

Yes, it is! Bitcoin ATM installation requires a BTM functioning knowledge and for that proper training of its working is required. Bitcoin ATM is can be a business for those who really have interest in the crypto industry and also searching for new income source as well, so, they can contact Bitcoin ATM producer for detail and become a professional Bitcoin operator.

Based on usage of the ATM the owner who have implemented will get good profit. It cannot be used as an opportunity to get good profit instantly. In my opinion bitcoin ATM will profit as years pass based on the increasing number of users getting into cryptocurrency. The bitcoin ATM usage in recent days have declined as it charges big than using exchange services.

The beginning is indeed not profitable but over time it will be profitable yes, if it produces dozens of ATM then it has the potential to get good profits. You're right about fee but on a number of exchanges it also has a high cost when making a withdrawal to the bank and this allows users to switch to an ATM machine and I think this is very good.

This might be one risky move but it is worth taking the risk. Before starting an Bitcoin ATM, you at least a lot of promotion and proper limitations about the availability of the machine. Starting a company based on Cryptocurrency might be hard because not everyone is knowledgeable about Bitcoin. You at least need proper promotion and maybe help from some banks if they will see a profitable business in implementing a Bitcoin ATM.

I think it will be a profitable business, based on what you said that you one of the top 5 africa countries who uses bitcoin so that means a lot will patronize your business to avoid fees from exchanges made through banks. Also I think people find it a very convenient to use BTC ATM.

We are now back to bitcoin with high volatility knowing that thr current market price drop already. There are more reason to these and probably this is cause by the weak hands after seeing that they had gain on bitcoin selling it give them profit.

Well OP, bitcoin is profitable see how market price for bitcoin moves. In that area, definitely we can say that bitcoin could be profitable. Investing earlier part where bitcoin market price was 3k usd was the best time to.invest but many users are afraid for bitcoin recession that eventually did not happen instead it gain a surge of market price increase.

Some people seem to confuse setting-up a Bitcoin ATM business, with a Laundromat: see  Spain – busted - Crypto ATMs used to launder narco money on a large scale (https://bitcointalk.org/index.php?topic=5141094.msg50968629#msg50968629).

An ATM costs around 10K Euros + VAT regular price (at least in Spain – see for example one of those decommissioned from the above law enforcement operation: https://www.btcfacil.com/en/atme01). The happy owner then seems to be able to control the commissions per TX (on top on the network’s I presume) which I figure should be the legit source of income. 

I think it will be a profitable business, because now the enthusiasm of the community towards bitcoin is very large, and the existence of bitcoin ATMs makes a lot of people increasingly believe in investing in bitcoin

The Bitcoin ATM sector is heating up; it's all because of the combination of factors, including better technology, more functionality, and increased demand. Bitcoin ATMs are easy to use, and they give crypto investors with a reliable alternative to fiat-to-crypto exchanges, such as Coinbase.

Let's take some advantages of this burgeoning crypto business sector:

1.Growing Popularity: The crypto market is expanding. Bitcoin ATMs bring a new level of convenience to the crypto market, by allowing any individual to purchase crypto directly.

2.Cost-Effective: These are one of the most profitable businesses. The ATMs do not require a lot of electricity to function, and there is no additional hardware needed to monitor your investment.

3.Added Functionality: Bitcoin ATM manufacturers are adding new functionality to their units. Most Bitcoin ATMs allow the user to purchase various altcoins. Litecoin, Ethereum, and Bitcoin Cash are the most popular altcoins added to these ATMs.

Only you can decide if a Bitcoin ATM business is the right investment. Just like with expenses, numerous factors influence the revenue of a Bitcoin ATM business, with the location being the most important one.

Hell yes.
I'd use your atm for sure :D
It will get more popular when other countries will follow Japan and make bitcoin main currency.

It is better to develop an existing program that could manage the transaction in bitcoin within your business. It could be a well develop bank that could support your ATM business for people to used bitcoin or other cryptocurrency in more efficient way.

Bitcoin ATM become profitable if will put at the correct place, maybe only available country have legal bitcoin as transaction payment for using bitcoin ATM for cash out their bitcoin fast and easy

It would be a great idea to have that business you have in mind, hence bitcoin is in demand and now being adopted by some countries, then it is possible that it's profitable in my opinion. With that innovation many will be curious on how bitcoin works and be able to spread awareness in your commodity and to think that your country is friendly to cryptocurrenty, that is and it would be a great competition to ATM banks.

It seems so since bank are now experimenting and running beta test machies for digital currency. This because they had seen huge money flows on cryptocurrency and if one of their banks will allow crypto to fiat conversions using atm machines or vice versa will definitely will let that bank to earn more. However, it may seem hard for them to start because of government regulations.

I believe that might be profitable in the event that in support of should you select the correct place exactly where you'll end up being placing your own bitcoin atm. Whenever conducting business such as this place may be the quantity 1 point you have to discover very first exactly where are you aware that we now have much more bitcoin customers available.

There is always risky level in everything.ATM-Bitcoin is good idea.Lot of people would love this. Let me tell you risky side of that.
1.Prize changes so easily.lo
Think you are get one coin for at 13500,and when you going to sell you its may be gone to 12500$. 1000$ lose,But that can be happen when you other way too
13500$-bought prize
14500$-selling prize

1000$ profit.

2.And you need real time bitcoin services.
So that wouldn't face that kind kind of loss.

This is very beneficial because it makes it easier for everyone who wants to make payments, besides that with the increasing number of bitcoin ATMs, that means more and more bitcoin users. This means that it can be a measure that in that area there are many bitcoin users.
So, it is clear that the existence of bitcoin ATMs is increasingly emphasizing that bitcoin as a digital currency will be more and more users in the future.

Right, with today’s growing adoption of bitcoin it means it could be very beneficial and it would also be good since you will be one of the pioneers in having a bitcoin ATM. Being a pioneer, would be and edge for you in the future, may it be related to bitcoin or not.

If Bitcoin is continue to grow in your country with your government is continue supporting it then i say it is an opportunity for you to start of your own Bitcoin ATM. This business continue to grow in which its already explored most of the countries that have plenty of crypto users in which it will be the same prosperity for you as tourist crypto users that will visit Africa will surely look for ATM for their fiat needs.

Still not that many people buy Bitcoin from ATMS.
They have huge fees and in most cases people are trying to avoid them. I was thinking of setting up a Bitcoin ATM but I started realizing that it will not be sustainable.

If the legal framework in relation to cryptocurrencies is settled in your country, and they are applied, then this business will definitely become profitable. Moreover, if there is still little competition in this area in your country, you can be the first to equip a Bitcoin ATM and make good money on it.

whatever you do, if you do it first and if its not a super dumb idea, you make money.i think its same for bitcoin atm.but i have no idea about its procedure and cost.

I don't really see the point here to be honest,Do you mean where you could get physical cash ? Then nope because Bitcoin is supposed to be completely virtual so there's no point to have ATM's for bitcoin. This is one of those things where if it works out its gonna blow like crazy or its gonna be really bad, I'd say we cant take that risk for now but maybe in future when Bitcoin reaches its full potential  :).

constraints are indeed on government and government support. Bitcoin ATM can have a positive effect on its owners, especially business people, and this may take a long time to realize the Bitcoin ATM in a country if there is no clear contribution and legal framework from the government.

Well to be honest it depends on various factors , the most important thing is :-

        *Where they are going to be located ?

If you are going to you know place a ATM in a country where people are not that crypto friendly then it is bound to fail , also at the same time most people who are really interested in Bitcoin and all they usually exchange the Bitcoins only when they are getting a profit . Therefore the next thing is :-

      * Is if profitable for the investors , well even they need a reason to use it.

If the prices of the ATM match the prices one would get online ,that is a good deal , then they would actually come more often .

I think that's how it goes , It might be profitable , or it might now be profitable.

I don't think we can squeeze a foot into an area that has so many benefits like bussiness bitcoin atm because bitcoin has always been a relative problem that is concerned by the government when its benefits are too great, if the legal process is resolved, the government will certainly be directly involved in activities, bitcoin ATM business is a place that can get a lot of benefits and control everyone's assets, the government will manage this sector immediately, it is very difficult for us to participate in this activity

Bitcoin ATM is a lucrative investment if you can have the upfront huge cost to start operating it. Having one at a countries airport or shopping mall will attract a lot of users while you charge transaction fees on it usage.

Yes Obviously  bitcoin ATM is very profitable.. but it totally depends on your needs.. i personally recommend  to use bitcoin ATM ....

Well  i agree with you.. it totally depends on situation.. it means in which country you lived..and many others situations...

But there is also something you need to be taken into account and that is the maintenance fees, not to mention that there's a possibility for the ATM to be vandalized by the criminals. Although as I've seen most of Bitcoin ATM charging quite the amount of fee but I just can't see that the Return of Investment will be near.

It seems to me that the current capabilities of cryptocurrency users are very scanty and therefore everyone who is in the cryptocurrency market is trying to earn more from this business.  That is why there are still high interest rates for using Bitcoin ATMs.  When surreal infrastructure is ready for the use of cryptocurrency, I hope the conditions are much more favorable.  if the banking system had personal funds, then they would definitely use the cryptocurrency market for la for profit.  But since all the funds in each bank are personal funds to the client, they cannot risk them, since the cryptocurrency market still has a lot of big risks.

To be a successful ATM business you have to have lots of ATM's. Even a few of them won't give you a good profit. You have to count for sure more precise. But I think, you create a financial organization when you put atm anywhere. And you have to know and count everything regarding maintenance.

there is already quite a lot of news in the media, those Bitcoin ATMs that already exist take quite large percentages and therefore are not very output for users.  But since users have no other choice, the owners of Bitcoin ATMs receive a good profit.

It can be profitable, depends really on how much tax is paid and how much you setup your fees.

First find the place who have many people like the market that can use your Bitcoin ATM machine and of course the machine cost is expensive and other equipment you need to start your planned.

It is porfitable if many bitcoin user will buy and sell to your ATM machine which is it accepting bitcoin because you will get profit for the every transaction they make to your machine.

Bitcoin ATM is profitable if bitcoin users in your country uses bitcoin for their daily transactions and i think widely adoption of bitcoin is needed  to become profitable because you said it seems there going to high cost.

It is profitable because ATM fees are high and the maintenance cost low but you have to buy the ATM and this is a big investment. You could probably make the same money if you bought bitcoin with the money the ATM will cost you and held and you wouldn't risk somebody damaging the machine or stealing it.

2 way ATMs are the most profitable but also much more expensive and you need to invest in fiat money your ATM will be dispensing so you need a lot of money to start the business.

When planning to buy or built this bitcoin atm business then it does really need some serious amount of money to invest on  yet we know on how much
cost these atm are which isn't really that cheap.Its a profitable one but depending on where these atms to be placed,if there are lots of bitcoin 
or crypto people around then it would be profitable but if not then no one will still use it.

It sounds interesting about bitcoin ATM if it's held in the country where I live, because it will provide many benefits, especially in businesses that will make it easier and more profitable.
I hope that bitcoin ATM will soon be held in my country for certain points in locations where the majority of bitcoin users are located.

Given the pace of development and popularity of Bitcoin, I am sure that this will be a profitable business. Of course, it will not be cheap and, at first, most likely not very profitable. But this happens with any business that has just begun to grow.

Aww i think it is profitable..if i talk some previous weeks then that was not good  for me.. because  i dnt get any profit.. well overall bitcoin ATM is profitable  business  for all of us..

Economists and journalists often get caught up in this question: Why does Bitcoin have value? And the answer is very easy. Because it is useful and scarce. Bitcoin promises to take at least some of that power away from governments and hand it to people. Well, I choose fast coins like Stellar or Credits which has fast blockchain/ledger, the availability of smart contracts, orientation on the financial sector, supports different currencies

Research in your country what licenses you need to run a money exchange business.  In the US, this can get very expensive very quickly. Even so, when I used to sell bitcoin it would have been worth it to get a license because of all of the business I had.

1st you have to decide,you sell that bitcoin soon as they received from ATM user or hold that.Main aim of running business is profit. If you chooses to sell soon as they received,best thing to do is and extra fee when your ATM users when make withdraw.That fee will be your profit.(simply saying this.there are many ways) If you choose to hold responsibility goes to you.If prize goes up.You win.You can counts your profits ..If prize goes down,you loose.   

Here in India, a few months back some techies tried to install a Bitcoin ATM in the city of Bangalore. After two days the ATM was closed down by the cops and the owners were arrested. You can find the details here:

https://timesofindia.indiatimes.com/city/bengaluru/1st-bitcoin-atm-in-bengaluru-seized-co-founder-held/articleshow/66340493.cms

The hostile policies against cryptocurrency undertaken by the Indian government has been depressing for many Indian Bitcoiners like me. But right now we don't have much of a choice.

in my opinion, bitcoin atm might only be a trend in some countries but if you think again, wouldn't it be good if there was a bank that collaborated with bitcoin? ATM bank that currently exists we can transact, sell and buy bitcoin there can use fiat and other digital money.

It depends actually because on any investment or business do have corresponding things to be considered always like population or people who
do make use or aware on bitcoins existence where these atm's would be relevant to be placed into that area and also with governments
regulation towards it.Checking it first before rushing up into things is always been important.

I don't think that's the right way to look at this situation. The OP clearly stated that people in his/her country - that is either Ghana, Kenya, Nigeria, South Africa, or Zimbabwe - are quite used to having Bitcoin in their daily life. So, it is obvious that they do aware of Bitcoin, and that Bitcoin is indeed popular in the country. I think the OP is trying to figure out the solution on the technical problem which would appear sooner or later if he/she did set up a Bitcoin ATM.

Wow is pretty great plan and ideas ofcourse nothing doubt about the business you got a lot of profits that way of business, I think nothing different from the bitcoin online wallet or exchange the devs can get huge of profits, if you looking bitcoin ATM manufacturing just post your need at service sectiion a lot of talented person can responds in ypur needs.

Good luck hope ypur success;

I can't recommend you any ATM but i think that could be very good business
You need to carefully make your own research
I think much better can be if it will be ATM what will allow to withdrawn cash not only to buy btc
Many people of Africa Nations are living and working in western countries   so sending  money to his families can be much less costly than using any other methods

before thinking of making an ATM service provider, you should check the regulations in your country, whether allowed  cryptocurrency ATM installation. because many companies that are interested in planting cryptocurrency ATM but they were held back by the prohibited government regulations.

of course Bitcoin ATM is a profitable business, because I am sure if there is a Bitcoin ATM then there will be many people who will use it and I am also sure that in the future Bitcoin will become legal as a digital currency, so that many people will use Bitcoin ATM to do transactions and you will get a big income from the business (Bitcoin ATM).

The more adoption will also bring greater regulation which means more fees that operators have to pay. Make sure you factor all legal issues into your calculations.

Well, if you think deeply about it you will know that our future generation would likely to come for that business so if you have already the money to invest on it for sure it will guarantee your future. BTC ATM would not that profitable today but if you start today you'll be the first who got success if this will be used by our future generation of the crypto lover.
ATM is very in demand today but not BTC ATM but there is a big possibility that BTC ATM would be in demand in the near future.

All businesses will be profitable if you really intend to run it, regardless of permission in each country allow or not if the bitcoin ATM operates. Think carefully before doing business, because if there is no plan, you will go bankrupt quickly.

yes you can do that. but, i think every person can save their bitcoin by themselves than store in some place. prone to theft, and your place will be a place that targeted by thieves. but you can do it, because many people got scame and think if btc atm is good for them.

I am not sure of how much it costs to install one of those,plus the cost of providing security,electricity for it,that will vary widely depending on where you are.But I do know that bitcoin ATM charges are quite high,something in d range of 5% or more in many instances. Best you conduct a local feasibility studies on it.

I am a newbie to this Forum, however, I would love to get a clear understanding of what is bitcoin and how did it come about? i,ve read online that bitcoin is profitable and it will be the future of currencies

Bitcoin will always be a good business. This mark is already consolidated. In fact, current prices do not reflect all this consolidation. In terms of profits, deep knowledge about your clientele and location is important to minimize the fluctuations.

The idea looks great. If your country has a positive attitude to the cryptocurrency and you will not have problems for the fact that you have installed a bitcoin ATM, you can try. This will lure new people into cryptography, and bitcoin users will become more and more.

Definitely.

As long as you have foot traffic, and run the numbers correctly, installing a Bitcoin ATM would be a profitable business model.

The only costs involved would be the price of owning/leasing the machine and the cost of the permit required to place a Bitcoin ATM at your desired location. If done correctly, the Bitcoin ATM could even be the attraction itself.

It’s great that you are eager to start investing in Bitcoin ATM business. Bitcoin ATMs are profitable, but you need to plan the entire business accordingly.

•Make sure your entire business calculation is done without considering promotional and other costs.
•Include licensing expenses.

However, the business would be more beneficial, if you strengthen all your Bitcoin basics. I rely on this blog  https://www.altcoinsidekick.com/bitcoin-basic-blog (https://www.altcoinsidekick.com/bitcoin-basic-blog) for all my Bitcoin queries. You can also check it out.

Yes, this time profitable business is only Bitcoin. Never Bitcoin business replacement of any other business. ATM is a hassle-free and profit-related business. You will not have a problem to get a valid paper. Your favorite and independent business started very quickly.

Running a Bitcoin ATM would be profitable looking at the number of transactions that are going to be done by several people. This would also be so convenient than selling Bitcoins to OTCs and waiting on them to pay you fiat currency. With all these high numbers using the ATM they would be charge subscription fees at the end of the month.

Yes this is the main qeustion...i think africa still the last continent in in term of bitcoin and crypto, Regardless the country the  majority of the population has not even heard about bitcoin

I don't think that you get the situation here. Africa is one of the most well-aware countries for the matter of Bitcoin. You can easily see on Google Trends that the most country who searched for the keyword Bitcoin is mainly African countries (ie. Nigeria, South Africa, & Ghana). Although, it is indeed true that this doesn't include most of the countries in Africa, which there is 54 in total, which means the majority of the population have no idea about Bitcoin. However, the OP here stated that his country is listed in the top 5 African country that uses Bitcoin. So basically, it is safe to assume that the people in OP's country are quite familiar with Bitcoin.

Africa have to begin continue developing them goverment first, I still can hear the news about Otoriter goverment on Africa when such destroying citizen self and making people wearness,

If in the OP's country, bitcoin really is very well known, i think its more profitable for the OP to have a business that accepts bitcoin instead. As of the moment, i don't think that having an ATM intended for bitcoin will be profitable enough not unless you banks accept bitcoin in your country.

it will be profitable bussiness if you have one. but dont forget to think about how many people will store their bitcoin in your place? i mean, if you can make it save and far from hacker, have better service than other wallet and have big advantage when use your service, believable, i think many people will join and use it

CoinATMRadar accounts currently for around 5.098 BTC ATMs worldwide (3.303 alone in the Unites States). Some of those ATMs are for making purchases only, whilst others allow for buy/sell operations. In terms of price, browsing over some on sale, their price range is as low as 3K$ (buy only) and go up to around 14k$ for some buy/sell models. The details do not specify how much you pay in terms of maintenance fee and so forth.

Profit will depend on the BTC involved in the TXs, and the number of TXs themselves. I haven’t located any information on the average TX in a BTC ATM machine, although taken to the extreme, [irony] it could be pretty high (see Spain – busted - Crypto ATMs used to launder narco money on a large scale (https://bitcointalk.org/index.php?topic=5141094.msg50968629#msg50968629)) [/irony].

People do not store BTC in the ATMs though (it does not hold wallets or anything of the sort). When you buy BTC in the ATM you either get a printer paper receipt with the public and private keys (not all ATMs have this capability), or you indicate a recipient wallet address for the TX.

Actually, if you look at profit and loss in opening a Bitcoin ATM business, of course there will always be losses, what else if the price of bitcoin continues to increase, surely everyone is very difficult to buy bitcoin on Bitcoin ATM, possibly selling bitcoin more than buying bitcoin actually that's what should be questioned if opening an ATM business ..

My knowledge is not enough in this direction. But if you think logically, the creation of a business with bitcoin machines is very promising in the future. Just imagine that a year ago there were hundreds of such ATMs all over the world. Now there are thousands of them. This is just the beginning.

In my country there were 3 new Bitcoin ATM introduced within last month. This makes me think it's quite profitable.

Good thing for ATM is that they get commissions no matter what the price is and for both buy and sell operations.

Seems like an exchange is more profitable instead you made a Bitcoin ATM. Most bitcoin users only use bitcoin as trading and investing place because most of them live on the country who still ban bitcoin to be use as money fiat function. Other than that they have to pay a high fees to make a transaction either when we buy bitcoin on the ATM. In my country there is a service for those people who buy bitcoin without fee and until now the service still on working, the service only charge a fee when they can bitcoin to money fiat. Maybe it will better if you make a service like that.

Yes, profitable, only not in our country (Russia). we are a bitcoin ATM fast close, and another fine can write. cryptocurrency for the government of our country is perceived as a threat to security, so it will take many years before its adoption. I plan to move to another country, but so far there is no money

If bitcoin is not profitable for sure I won't survive for 5 years here in this business industry.
It means Bitcoin helped a lot for 5 years now. Bitcoin in my country was being improved also due to right now we
have 10 exchange now were our central bank here approved and regulated it already.

Yes, it is if the Bitcoin ATM owner has gained a knowledge of Bitcoin ATM installation and knows the Bitcoin ATM working process then only they can make a profit in this business.

It will be profitable If you are the first person in your state who launched ATM, without more user it is not so worthy.

Anyway, the installation of Bitcoin has no ATM yet.  That is why the owners of such events will receive an absolute profit, because the competition in this activity will be absent for a long time.

I think it is, only the thing that it depends when you will locate the ATM machien, I would recomend to palce it at supermarkets or places, where are lot of people walking and spending, for example if you are living at small country there is no reason to buy it

It will be 100% profitable business even if the people living in the country are not actually interested in cryptocurrency. I know setting up a bitcoin ATM takes huge amount but when you set up 1 ATM with the strange concept then people will become curious about it. And that's the wonderful thing about being human, and as you know when they will try to find out what cryptocurrency actually is then they will also try to buy some Bitcoin or any other currency the ATM supports. There is no harm to try some coins and watch them grow.

Making profit from Bitcoin ATM would definintely be huge in the upcoming years when bitcoin is being largely used by a huge number of people. In the next few years to come when online trading places advance to accepting bitcoin and other cryptocurrencies as payment for purchases of goods and services it would be very profitable to run an ATM for Bitcoin transactions.

It is profitable if you can find a good location for it. You will need to maximize the capacity of the Bitcoin ATM, so ideally a mall or a bar would be popular places to spend money.