IS BITCOIN ATM PROFITABLE BUSINESS ?

[ratonoklo]

Economists and journalists often get caught up in this question: Why does Bitcoin have value? And the answer is very easy. Because it is useful and scarce. Bitcoin promises to take at least some of that power away from governments and hand it to people. Well, I choose fast coins like Stellar or Credits which has fast blockchain/ledger, the availability of smart contracts, orientation on the financial sector, supports different currencies

[DebitMe]

Research in your country what licenses you need to run a money exchange business.  In the US, this can get very expensive very quickly. Even so, when I used to sell bitcoin it would have been worth it to get a license because of all of the business I had.

[spacehopper]

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 !!

1st you have to decide,you sell that bitcoin soon as they received from ATM user or hold that.Main aim of running business is profit. If you chooses to sell soon as they received,best thing to do is and extra fee when your ATM users when make withdraw.That fee will be your profit.(simply saying this.there are many ways) If you choose to hold responsibility goes to you.If prize goes up.You win.You can counts your profits ..If prize goes down,you loose.   

[Sithara007]

Here in India, a few months back some techies tried to install a Bitcoin ATM in the city of Bangalore. After two days the ATM was closed down by the cops and the owners were arrested. You can find the details here:

https://timesofindia.indiatimes.com/city/bengaluru/1st-bitcoin-atm-in-bengaluru-seized-co-founder-held/articleshow/66340493.cms

The hostile policies against cryptocurrency undertaken by the Indian government has been depressing for many Indian Bitcoiners like me. But right now we don't have much of a choice.

[arbifahrozy]

in my opinion, bitcoin atm might only be a trend in some countries but if you think again, wouldn't it be good if there was a bank that collaborated with bitcoin? ATM bank that currently exists we can transact, sell and buy bitcoin there can use fiat and other digital money.

[Lanatsa]

It depends actually because on any investment or business do have corresponding things to be considered always like population or people who
do make use or aware on bitcoins existence where these atm's would be relevant to be placed into that area and also with governments
regulation towards it.Checking it first before rushing up into things is always been important.

[Jeremycoin]

It depends actually because on any investment or business do have corresponding things to be considered always like population or people who
do make use or aware on bitcoins existence where these atm's would be relevant to be placed into that area and also with governments
regulation towards it.Checking it first before rushing up into things is always been important.

I don't think that's the right way to look at this situation. The OP clearly stated that people in his/her country - that is either Ghana, Kenya, Nigeria, South Africa, or Zimbabwe - are quite used to having Bitcoin in their daily life. So, it is obvious that they do aware of Bitcoin, and that Bitcoin is indeed popular in the country. I think the OP is trying to figure out the solution on the technical problem which would appear sooner or later if he/she did set up a Bitcoin ATM.

[rodel caling]

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 !!

Wow is pretty great plan and ideas ofcourse nothing doubt about the business you got a lot of profits that way of business, I think nothing different from the bitcoin online wallet or exchange the devs can get huge of profits, if you looking bitcoin ATM manufacturing just post your need at service sectiion a lot of talented person can responds in ypur needs.

Good luck hope ypur success;

[Pab]

I can't recommend you any ATM but i think that could be very good business
You need to carefully make your own research
I think much better can be if it will be ATM what will allow to withdrawn cash not only to buy btc
Many people of Africa Nations are living and working in western countries   so sending  money to his families can be much less costly than using any other methods

[Apes]

before thinking of making an ATM service provider, you should check the regulations in your country, whether allowed  cryptocurrency ATM installation. because many companies that are interested in planting cryptocurrency ATM but they were held back by the prohibited government regulations.

[Handsome Boy]

of course Bitcoin ATM is a profitable business, because I am sure if there is a Bitcoin ATM then there will be many people who will use it and I am also sure that in the future Bitcoin will become legal as a digital currency, so that many people will use Bitcoin ATM to do transactions and you will get a big income from the business (Bitcoin ATM).

[DebitMe]

of course Bitcoin ATM is a profitable business, because I am sure if there is a Bitcoin ATM then there will be many people who will use it and I am also sure that in the future Bitcoin will become legal as a digital currency, so that many people will use Bitcoin ATM to do transactions and you will get a big income from the business (Bitcoin ATM).

The more adoption will also bring greater regulation which means more fees that operators have to pay. Make sure you factor all legal issues into your calculations.

[Vinalians]

Well, if you think deeply about it you will know that our future generation would likely to come for that business so if you have already the money to invest on it for sure it will guarantee your future. BTC ATM would not that profitable today but if you start today you'll be the first who got success if this will be used by our future generation of the crypto lover.
ATM is very in demand today but not BTC ATM but there is a big possibility that BTC ATM would be in demand in the near future.

[ubay]

All businesses will be profitable if you really intend to run it, regardless of permission in each country allow or not if the bitcoin ATM operates. Think carefully before doing business, because if there is no plan, you will go bankrupt quickly.

[barabarian1]

yes you can do that. but, i think every person can save their bitcoin by themselves than store in some place. prone to theft, and your place will be a place that targeted by thieves. but you can do it, because many people got scame and think if btc atm is good for them.

[sandra_x]

I am not sure of how much it costs to install one of those,plus the cost of providing security,electricity for it,that will vary widely depending on where you are.But I do know that bitcoin ATM charges are quite high,something in d range of 5% or more in many instances. Best you conduct a local feasibility studies on it.

[Coingray]

I am a newbie to this Forum, however, I would love to get a clear understanding of what is bitcoin and how did it come about? i,ve read online that bitcoin is profitable and it will be the future of currencies

[Mihawk]

Bitcoin will always be a good business. This mark is already consolidated. In fact, current prices do not reflect all this consolidation. In terms of profits, deep knowledge about your clientele and location is important to minimize the fluctuations.

[JPSelzer]

The idea looks great. If your country has a positive attitude to the cryptocurrency and you will not have problems for the fact that you have installed a bitcoin ATM, you can try. This will lure new people into cryptography, and bitcoin users will become more and more.

[smartbitcoininvestor]

Definitely.

As long as you have foot traffic, and run the numbers correctly, installing a Bitcoin ATM would be a profitable business model.

The only costs involved would be the price of owning/leasing the machine and the cost of the permit required to place a Bitcoin ATM at your desired location. If done correctly, the Bitcoin ATM could even be the attraction itself.