IS BITCOIN ATM PROFITABLE BUSINESS ?

[AjithBtc]

Based on usage of the ATM the owner who have implemented will get good profit. It cannot be used as an opportunity to get good profit instantly. In my opinion bitcoin ATM will profit as years pass based on the increasing number of users getting into cryptocurrency. The bitcoin ATM usage in recent days have declined as it charges big than using exchange services.

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[Cacingkemi]

Based on usage of the ATM the owner who have implemented will get good profit. It cannot be used as an opportunity to get good profit instantly. In my opinion bitcoin ATM will profit as years pass based on the increasing number of users getting into cryptocurrency. The bitcoin ATM usage in recent days have declined as it charges big than using exchange services.

The beginning is indeed not profitable but over time it will be profitable yes, if it produces dozens of ATM then it has the potential to get good profits. You're right about fee but on a number of exchanges it also has a high cost when making a withdrawal to the bank and this allows users to switch to an ATM machine and I think this is very good.

[ghost424]

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 !!

This might be one risky move but it is worth taking the risk. Before starting an Bitcoin ATM, you at least a lot of promotion and proper limitations about the availability of the machine. Starting a company based on Cryptocurrency might be hard because not everyone is knowledgeable about Bitcoin. You at least need proper promotion and maybe help from some banks if they will see a profitable business in implementing a Bitcoin ATM.

[Rufsilf]

I think it will be a profitable business, based on what you said that you one of the top 5 africa countries who uses bitcoin so that means a lot will patronize your business to avoid fees from exchanges made through banks. Also I think people find it a very convenient to use BTC ATM.

[jademaxsuy]

We are now back to bitcoin with high volatility knowing that thr current market price drop already. There are more reason to these and probably this is cause by the weak hands after seeing that they had gain on bitcoin selling it give them profit.

Well OP, bitcoin is profitable see how market price for bitcoin moves. In that area, definitely we can say that bitcoin could be profitable. Investing earlier part where bitcoin market price was 3k usd was the best time to.invest but many users are afraid for bitcoin recession that eventually did not happen instead it gain a surge of market price increase.

[DdmrDdmr]

<…> 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, <…>

Some people seem to confuse setting-up a Bitcoin ATM business, with a Laundromat: see Spain – busted - Crypto ATMs used to launder narco money on a large scale.

An ATM costs around 10K Euros + VAT regular price (at least in Spain – see for example one of those decommissioned from the above law enforcement operation: https://www.btcfacil.com/en/atme01). The happy owner then seems to be able to control the commissions per TX (on top on the network’s I presume) which I figure should be the legit source of income. 

[airdagon]

I think it will be a profitable business, because now the enthusiasm of the community towards bitcoin is very large, and the existence of bitcoin ATMs makes a lot of people increasingly believe in investing in bitcoin

[alexyong342]

The Bitcoin ATM sector is heating up; it's all because of the combination of factors, including better technology, more functionality, and increased demand. Bitcoin ATMs are easy to use, and they give crypto investors with a reliable alternative to fiat-to-crypto exchanges, such as Coinbase.

Let's take some advantages of this burgeoning crypto business sector:

1.Growing Popularity: The crypto market is expanding. Bitcoin ATMs bring a new level of convenience to the crypto market, by allowing any individual to purchase crypto directly.

2.Cost-Effective: These are one of the most profitable businesses. The ATMs do not require a lot of electricity to function, and there is no additional hardware needed to monitor your investment.

3.Added Functionality: Bitcoin ATM manufacturers are adding new functionality to their units. Most Bitcoin ATMs allow the user to purchase various altcoins. Litecoin, Ethereum, and Bitcoin Cash are the most popular altcoins added to these ATMs.

Only you can decide if a Bitcoin ATM business is the right investment. Just like with expenses, numerous factors influence the revenue of a Bitcoin ATM business, with the location being the most important one.

[KacperBTCrypto]

Hell yes.
I'd use your atm for sure
It will get more popular when other countries will follow Japan and make bitcoin main currency.

[Potchi]

It is better to develop an existing program that could manage the transaction in bitcoin within your business. It could be a well develop bank that could support your ATM business for people to used bitcoin or other cryptocurrency in more efficient way.

[tetyulfania]

Bitcoin ATM become profitable if will put at the correct place, maybe only available country have legal bitcoin as transaction payment for using bitcoin ATM for cash out their bitcoin fast and easy

[raidarksword]

It would be a great idea to have that business you have in mind, hence bitcoin is in demand and now being adopted by some countries, then it is possible that it's profitable in my opinion. With that innovation many will be curious on how bitcoin works and be able to spread awareness in your commodity and to think that your country is friendly to cryptocurrenty, that is and it would be a great competition to ATM banks.

[erikoy]

It seems so since bank are now experimenting and running beta test machies for digital currency. This because they had seen huge money flows on cryptocurrency and if one of their banks will allow crypto to fiat conversions using atm machines or vice versa will definitely will let that bank to earn more. However, it may seem hard for them to start because of government regulations.

[DES_MX]

I believe that might be profitable in the event that in support of should you select the correct place exactly where you'll end up being placing your own bitcoin atm. Whenever conducting business such as this place may be the quantity 1 point you have to discover very first exactly where are you aware that we now have much more bitcoin customers available.

[spacehopper]

There is always risky level in everything.ATM-Bitcoin is good idea.Lot of people would love this. Let me tell you risky side of that.
1.Prize changes so easily.lo
Think you are get one coin for at 13500,and when you going to sell you its may be gone to 12500$. 1000$ lose,But that can be happen when you other way too
13500$-bought prize
14500$-selling prize

1000$ profit.

2.And you need real time bitcoin services.
So that wouldn't face that kind kind of loss.

[idham29]

It is better to develop an existing program that could manage the transaction in bitcoin within your business. It could be a well develop bank that could support your ATM business for people to used bitcoin or other cryptocurrency in more efficient way.

This is very beneficial because it makes it easier for everyone who wants to make payments, besides that with the increasing number of bitcoin ATMs, that means more and more bitcoin users. This means that it can be a measure that in that area there are many bitcoin users.
So, it is clear that the existence of bitcoin ATMs is increasingly emphasizing that bitcoin as a digital currency will be more and more users in the future.

[Rufsilf]

It is better to develop an existing program that could manage the transaction in bitcoin within your business. It could be a well develop bank that could support your ATM business for people to used bitcoin or other cryptocurrency in more efficient way.

This is very beneficial because it makes it easier for everyone who wants to make payments, besides that with the increasing number of bitcoin ATMs, that means more and more bitcoin users. This means that it can be a measure that in that area there are many bitcoin users.
So, it is clear that the existence of bitcoin ATMs is increasingly emphasizing that bitcoin as a digital currency will be more and more users in the future.

Right, with today’s growing adoption of bitcoin it means it could be very beneficial and it would also be good since you will be one of the pioneers in having a bitcoin ATM. Being a pioneer, would be and edge for you in the future, may it be related to bitcoin or not.

[marcbitcoins]

If Bitcoin is continue to grow in your country with your government is continue supporting it then i say it is an opportunity for you to start of your own Bitcoin ATM. This business continue to grow in which its already explored most of the countries that have plenty of crypto users in which it will be the same prosperity for you as tourist crypto users that will visit Africa will surely look for ATM for their fiat needs.

[Naida_BR]

I think it will be a profitable business, because now the enthusiasm of the community towards bitcoin is very large, and the existence of bitcoin ATMs makes a lot of people increasingly believe in investing in bitcoin

Still not that many people buy Bitcoin from ATMS.
They have huge fees and in most cases people are trying to avoid them. I was thinking of setting up a Bitcoin ATM but I started realizing that it will not be sustainable.

[EdvinZ]

If the legal framework in relation to cryptocurrencies is settled in your country, and they are applied, then this business will definitely become profitable. Moreover, if there is still little competition in this area in your country, you can be the first to equip a Bitcoin ATM and make good money on it.