IS BITCOIN ATM PROFITABLE BUSINESS ?

[reflector]

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.

[dunfida]

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.

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.

[Iamannie]

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.

[Velkro]

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 !!

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%

[Jating]

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.

[LeGaulois]

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.

[pey]

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.

[jademaxsuy]

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.

[Jamjamz30]

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.

[Ray55]

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.

[Astvile]

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.

[Padawan007]

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

[recaph]

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

[Fu2013]

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

[bitcoin31]

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.

[ItalianBitcoin3r]

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

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

[Alpinat]

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.

[Jackrodwell]

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.

[Moiyah]

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.

[CBANX3]

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.