Bitcoin ATM Profibility?

[xuan87]

Many people complaining about the fee that occurred when they do transactions, and to be honest ATM is very good to increase the Bitcoin popularity but not many people want to used it, so I don't think it's very profitable to build a Bitcoin ATM machine

[btccashacc]

Many people complaining about the fee that occurred when they do transactions, and to be honest ATM is very good to increase the Bitcoin popularity but not many people want to used it, so I don't think it's very profitable to build a Bitcoin ATM machine

Exactly, the reasons why people using Bitcoin ATM machine are first they curious about it after they realize that the fee is too high they leave it or they don't have an option to buy Bitcoin with their cash or convert their bitcoin to fiat, while in most country there's already exchanger on each country, people can easily trade Bitcoin without going outside and lower fee of course, in my area there are two Bitcoin ATM machines as i can see it's not profitable moreover electricity cost is very expensive here.

[VanDeinsberg12]

Honestly, I don't think you will find out how much these ATMs make unless you contact the owners of these ATMs. This shows how much the average fee an ATM charges: https://coinatmradar.com/charts/

Think about the initial investment, security, maintanence, and upkeep. Also consider how many customers that you will actually have. Bitcoin is hot right now, but it still isn't mainstream enough to have a long line at any random ATM. Do you see any buyers/sellers in Middle, Georgia on localbitcoins?

Security can be a big problem for bitcoin atm.
https://themerkle.com/various-bitcoin-atms-destroyed-in-us-localities/

How the atm is easy to be destroyed by the unknown person. Security will always be the main concern thing rather than think about the profitibility.

[Razick]

Depends on the prices, as others have said.
You need to find to "sweet spot", so-to-speak, where you make the most profit.
I would recommend starting at 5% markup first and see how it works out.

[Ctn]

At the movement bitcoin ATM is very profitable because it is completely new concept. At least for the implementation of ATM has not started with full operations all over the world. Remembered the thing “More demand more costly stuff is”. That makes it more easy for bitcoin ATM to attract more customers at the doorstep. Just imagine having no ATM in other parts will catch the public over to your machine and generating heavy profits. ATM’s charge are very good and you don’t have to advertise for services like this one. Im hoping you will boost your earnings a lot with this.

[stompix]

Nobody will give you the real statistics
ATM sellers will double the earnings to make you buy them, the ones that have an ATM in your region will cut a 0 to get rid of you as a possible competitor.

You will have to make a spreadsheet with all the money you are going to spend on this, check out how much it will cost you to put it in the most trafficked part of town, don't forget to add what comes next to this (in my country you need a special service and insurance for loading money in and out of those things) and then think how much you;re going to have to transact monthly to cover the fees.

With coins value getting higher and higher and more guys being interested in it it might sound as a nice idea but if you're going to have to work with fees more than 5% a lot of people will turn away and use cheaper solutions. Although you can catch a few newbies buying this first time but in the long run they will also find out. I don't see it a a service that will work in the long time like traditional ATMs.

[buharikx31]

I think it's profitable to have ATM because you can regulate the price of your selling coins to people and it's always higher then on web exchanges that's how they make profit with machines

[Rahar02]

Many people complaining about the fee that occurred when they do transactions, and to be honest ATM is very good to increase the Bitcoin popularity but not many people want to used it, so I don't think it's very profitable to build a Bitcoin ATM machine

Exactly, the reasons why people using Bitcoin ATM machine are first they curious about it after they realize that the fee is too high they leave it or they don't have an option to buy Bitcoin with their cash or convert their bitcoin to fiat, while in most country there's already exchanger on each country, people can easily trade Bitcoin without going outside and lower fee of course, in my area there are two Bitcoin ATM machines as i can see it's not profitable moreover electricity cost is very expensive here.

To avoid that case, bitcoin ATM owners should apply normal fees such as what people always pay if they withdraw from exchanges.
No need to charge fee for buy bitcoin obviously as most exchanges regulate it that way, so it's convenient for customers.
The problem is whether many people will use this machine or not, and how much it costs to maintain bitcoin ATM per month to pay electricity or-and rent a place.