IS BITCOIN ATM PROFITABLE BUSINESS ?

[cryptjh]

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.

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[seoincorporation]

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 !!

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.

[Halmater]

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.

[Dreamchaser21]

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.

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.

[SistaFista]

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 !!

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.

[Siren]

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 !!

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

[newbie0506]

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

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.

[XFlowZion]

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.

[michellee]

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 !!

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.

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.

[samuraijin]

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 ...

[kingpin4321]

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

[DigitalCyberius]

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/).

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/)

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, 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.

[killat]

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?

[UserU]

Well, Bitcoin isn't used as cash for many people. There is a large portion of people who acquire bitcoin just to hold it as an investment. I would say owning a Bitcoin ATM is riskier than say owning a normal ATM or vending machine.

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

[SistaFista]

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 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.

[kramchers]

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?

[Carrelmae10]

..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,,

[MakeMoneyBtc]

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.

[mornabo]

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

[Razerglass]

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.

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.