IS BITCOIN ATM PROFITABLE BUSINESS ?

[Al0nz0]

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.

[killat]

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...

[plvbob0070]

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 !!

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.

[Syakbrown]

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

[killat]

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.

[Capt00]

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

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.

[shesheboy]

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

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  .

[Kakmakr]

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.  

[boty]

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.

[CryptoToxicAvenger]

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.

[Lucius]

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

[kelz1]

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

[Shenzou]

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 !!

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.

[Eildosa]

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.

[Newtl]

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         

[joromz1226]

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 !!

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.

[SIDDHI777]

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

[jademaxxiss012]

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.

[xWolfx]

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 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.

[BitBustah]

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.

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.