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[bitbollo]

I have very interested to buy and install a couple of these machines around area where I am living.
But without a sustainable cash flow it's just an expensive machine with high cost of maintenance/high fees for end user.
Probably this is a market profitable only for big whale or company with tens of ATM in big cities.

[DdmrDdmr]

One thing to consider is the privacy of the installation itself, and the buy/sell process. I’ve got a BTC ATM not too far away, which it is located within a store. The ATM is seemingly small, and I figure that all the cash needs to go through the teller (*), which is fine for some people (as they will aid them in the process), but personally, I’d rather not have to let someone know what amounts I’d purchase, nor the frequency of my habits.

<...>

(*) Not Quite as I thought it was at first glance: I just checked, and the ATM, which is pretty small in size, does accept bank notes, although I there does not seem to be a Credit Card slot option. It is though physically very close to the teller, who'd be able to see whatever goes on there pretty much. It is part of the business, as the intent is to be a proximity solution and aid their customers as much as possible.

[bitbollo]

One thing to consider is the privacy of the installation itself, and the buy/sell process. I’ve got a BTC ATM not too far away, which it is located within a store. The ATM is seemingly small, and I figure that all the cash needs to go through the teller, which is fine for some people (as they will aid them in the process), but personally, I’d rather not have to let someone know what amounts I’d purchase, nor the frequency of my habits.

ATM I was looking for have an internal cash security box and it can empty only few times a month (depends how many bills you receive).
Real problem arise here. You need to do by yourself or paying some one to empty each time security box. Moving amount like this is very dangerous and requires an insurance or an armed guard...

[Yogee]

The problem with this is that the distribution of these ATM's are concentrated on the first world countries and also areas with a low population density. China and India with a very high population density, should have been their highest priority, but they are focusing on areas with high income statistics.

These ATMs comes at a cost and with maintenance so it would make sense to target areas where people can actually use it and afford the rates. I'm sure you'd most likely think the same way if you had the capital to set up a bitcoin ATM.

Also, you have to look into how the Government treats bitcoin trading first. You gave India and China as examples but these two countries are known for having a hard stance on legality of BTC before. No businessman with a sane mind would risk investing into countries like that.

A lot of the African countries and also other 3rd world countries have a lot of remittance transfers and also local fiat currency issues, so it would have been better to focus their attention on those markets.    (Give Money transmitters like WU and MoneyGram some competition... and even some Banks) 

You'll have to consider the pace of bitcoin adoption both from Government and the citizens. Countries from 3rd world and developing countries were late as far as I can tell and it's quite suicidal to put an ATM to areas where few people knew about bitcoin. The good news is exchanges appears to be increasing there from what I've read. More ATMs will probably come next.

One thing to consider is the privacy of the installation itself, and the buy/sell process. I’ve got a BTC ATM not too far away, which it is located within a store. The ATM is seemingly small, and I figure that all the cash needs to go through the teller, which is fine for some people (as they will aid them in the process), but personally, I’d rather not have to let someone know what amounts I’d purchase, nor the frequency of my habits.

I haven't seen one myself so I'm curious if fiat is the only way to buy bitcoin? Is there no option to use cards?

[Rikafip]

I have very interested to buy and install a couple of these machines around area where I am living.
But without a sustainable cash flow it's just an expensive machine with high cost of maintenance/high fees for end user.
Probably this is a market profitable only for big whale or company with tens of ATM in big cities.

Yep, BTC ATM business seems attractive at first, but when you put some numbers on the paper it is a bit more complicated.

Some time ago I was playing with the idea of buying one of those with few of my friends and installing it somewhere but after some napkin math we quickly changed our mind. Good machines with buy/sell options cost at least 10,000 USD, then you have to rent the space, register the business, pay the taxes etc and all this with not taking huge fees as you have to stay competitive with others in the business. It turns out that you need tens of thousands of dollars worth of transactions per month just to stay in black, let alone profit in order to get the investment back. Unless you own some good place where you can install it (some popular bar for example) you will have extremely tough time.

One thing to consider is the privacy of the installation itself, and the buy/sell process. I’ve got a BTC ATM not too far away, which it is located within a store. The ATM is seemingly small, and I figure that all the cash needs to go through the teller (*), which is fine for some people (as they will aid them in the process), but personally, I’d rather not have to let someone know what amounts I’d purchase, nor the frequency of my habits.

Well that sucks, that there is still someone near so it's not very anonymous , or at least not anonymous enough for some. The place I am using for last couple of years has 2 crypto ATMs in some small rented place ( one is for buying and selling few most popular altcoins like Dash, ETH, Monero and the other just for BTC) with only surveillance camera, so there is some sort of anonymity. They also don't ask for any kind of SMS verification as I've seen few of those that ask that and it sucks as you can be easily identified nowadays through your mobile number.

The only downside of all this is the fact that they take  5% fee, which is a lot imho, but I know that they don't make huge profit out of it considering the expenses.

[Mr.sprin]

Atm bitcoin is not optimal, I still think Bitcoin ATM is still being tested and there are still many issues for users, transaction fees are too large, one of the obstacles.

[aioc]

It's a good indication that Bitcoin adption is a work in progress, but honestly I have not used a Bitcoin ATM because it is not popular here in our country, but with the number of installed Bitcoin growing I will have a chance to use one in the future.

[pawanjain]

Wow those are some pretty good numbers for a bitcoin ATM. I am not sure how useful bitcoin ATMs are but if the number of ATMs are increasing it only means that the demand/usage for it is increasing.
Unfortunately there is not one bitcoin ATM in my country but I will surely try it when I come across one.
There are only 2 things that bothers me when I come across a bitcoin ATM and those are

Security - ATM scams happens in fiat currencies too. I won't want losing all my coins to an ATM fraud. Security is a must.
Anonymity - Non-KYC ATMs would be a better option since many crypto ATMs require us to open an account with KYC details and then use the ATM.

As the number of crypto ATMs are increasing everyday I am sure that the above concerns will be satisfied in future.

[ZZ8ZZ]

I recently saw they put a Bitcoin ATM at the post center nearby. Couldn't be more happier ^^ and I personally find it amazing that more and more BTC ATMs pop up even in tier 3 countries.

[lebregone]

It is very interesting to see that bitcoin ATM are keep on growing as days passes by, I wonder if this data is coming from around the globe or it is coming from a certain country only as I notice that there is also an active bitcoin ATM in our country but I am not so sure if it is also increasing in number.

My bad, so this data are coming from 70 countries which is pretty decent numbers of country already. Let's just hope that this increase of adoption will continue so  we don't have to worry in cashing out our bitcoin in the future.

[ChrisPop]

At least in my country, the Bitcoin ATM fees are quite high. That's why I have never used them. Losing 5-10% of my money is too much for my taste. Much better to use an exchange which takes basis points off the transactions.

[Shasha80]

As Bitcoin enthusiasts, knowing the progress of the increase in the number of Bitcoin ATMs is certainly very encouraging news.
Moreover, the increase is quite rapid, with 1 hour = 1 new Bitcoin ATM this is a very good achievement. And I really hope that in
my country there can also be Bitcoin ATMs, so I can try using a Bitcoin ATM. It doesn't matter I have to pay high fees, at least
I can get experience using a Bitcoin ATM.

[seoincorporation]

This is a great topic, personally i would love to see more ATM's in my country or at least in my city (Mexico), because now we have only a low amount of them and there are no local companies creating them. So, i think this project should get on hands of Bitso (The mexican exchange). They are the ones who can create it by a legal way and who has the sources to do it.

[stompix]

The problem with this is that the distribution of these ATM's are concentrated on the first world countries and also areas with a low population density. China and India with a very high population density, should have been their highest priority, but they are focusing on areas with high income statistics.

Yup, what would you do if you would have a business?
Would you set a chain store in a town with a million people who earn 2$ a day or in a city with 10k earning 100$ a day?
Why should India and China have high priority? Just because there are millions with little to no money to spend?
That's the reason why Ferrari has 2 showrooms in India and 20 in Japan!

I haven't seen one myself so I'm curious if fiat is the only way to buy bitcoin? Is there no option to use cards?

I haven't yet seen a bitcoin ATM that accepts credit or debit cards.
I don't know if there are any but if I were running those I would avoid it, it's pretty easy to make chargebacks with credit cards and there are a lot of stolen cc, you will get more headaches than business, one serious charge can erase your entire month gains if not worse.