IS BITCOIN ATM PROFITABLE BUSINESS ?

[littleheart]

It’s great that you are eager to start investing in Bitcoin ATM business. Bitcoin ATMs are profitable, but you need to plan the entire business accordingly.

•Make sure your entire business calculation is done without considering promotional and other costs.
•Include licensing expenses.

However, the business would be more beneficial, if you strengthen all your Bitcoin basics. I rely on this blog https://www.altcoinsidekick.com/bitcoin-basic-blog for all my Bitcoin queries. You can also check it out.

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[sort_cirkit]

Yes, this time profitable business is only Bitcoin. Never Bitcoin business replacement of any other business. ATM is a hassle-free and profit-related business. You will not have a problem to get a valid paper. Your favorite and independent business started very quickly.

[hahahafr]

Running a Bitcoin ATM would be profitable looking at the number of transactions that are going to be done by several people. This would also be so convenient than selling Bitcoins to OTCs and waiting on them to pay you fiat currency. With all these high numbers using the ATM they would be charge subscription fees at the end of the month.

[abderrazak belkhir]

I cannot remember where but I read that the number of bitcoin ATM's doubled last year compared to the previous. I guess BTC is widely used in those areas. The question here is, have you checked or asked people in your area if they know about BTC and if they are willing to use it?

Yes this is the main qeustion...i think africa still the last continent in in term of bitcoin and crypto, Regardless the country the  majority of the population has not even heard about bitcoin

[Jeremycoin]

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Yes this is the main qeustion...i think africa still the last continent in in term of bitcoin and crypto, Regardless the country the  majority of the population has not even heard about bitcoin

I don't think that you get the situation here. Africa is one of the most well-aware countries for the matter of Bitcoin. You can easily see on Google Trends that the most country who searched for the keyword Bitcoin is mainly African countries (ie. Nigeria, South Africa, & Ghana). Although, it is indeed true that this doesn't include most of the countries in Africa, which there is 54 in total, which means the majority of the population have no idea about Bitcoin. However, the OP here stated that his country is listed in the top 5 African country that uses Bitcoin. So basically, it is safe to assume that the people in OP's country are quite familiar with Bitcoin.

[Chikito]

Yes this is the main qeustion...i think africa still the last continent in in term of bitcoin and crypto, Regardless the country the  majority of the population has not even heard about bitcoin

Africa have to begin continue developing them goverment first, I still can hear the news about Otoriter goverment on Africa when such destroying citizen self and making people wearness,

[silent17]

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Yes this is the main qeustion...i think africa still the last continent in in term of bitcoin and crypto, Regardless the country the  majority of the population has not even heard about bitcoin

I don't think that you get the situation here. Africa is one of the most well-aware countries for the matter of Bitcoin. You can easily see on Google Trends that the most country who searched for the keyword Bitcoin is mainly African countries (ie. Nigeria, South Africa, & Ghana). Although, it is indeed true that this doesn't include most of the countries in Africa, which there is 54 in total, which means the majority of the population have no idea about Bitcoin. However, the OP here stated that his country is listed in the top 5 African country that uses Bitcoin. So basically, it is safe to assume that the people in OP's country are quite familiar with Bitcoin.

If in the OP's country, bitcoin really is very well known, i think its more profitable for the OP to have a business that accepts bitcoin instead. As of the moment, i don't think that having an ATM intended for bitcoin will be profitable enough not unless you banks accept bitcoin in your country.

[dimox]

it will be profitable bussiness if you have one. but dont forget to think about how many people will store their bitcoin in your place? i mean, if you can make it save and far from hacker, have better service than other wallet and have big advantage when use your service, believable, i think many people will join and use it

[DdmrDdmr]

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CoinATMRadar accounts currently for around 5.098 BTC ATMs worldwide (3.303 alone in the Unites States). Some of those ATMs are for making purchases only, whilst others allow for buy/sell operations. In terms of price, browsing over some on sale, their price range is as low as 3K$ (buy only) and go up to around 14k$ for some buy/sell models. The details do not specify how much you pay in terms of maintenance fee and so forth.

Profit will depend on the BTC involved in the TXs, and the number of TXs themselves. I haven’t located any information on the average TX in a BTC ATM machine, although taken to the extreme, [irony] it could be pretty high (see Spain – busted - Crypto ATMs used to launder narco money on a large scale) [/irony].

People do not store BTC in the ATMs though (it does not hold wallets or anything of the sort). When you buy BTC in the ATM you either get a printer paper receipt with the public and private keys (not all ATMs have this capability), or you indicate a recipient wallet address for the TX.

[Ris88]

Actually, if you look at profit and loss in opening a Bitcoin ATM business, of course there will always be losses, what else if the price of bitcoin continues to increase, surely everyone is very difficult to buy bitcoin on Bitcoin ATM, possibly selling bitcoin more than buying bitcoin actually that's what should be questioned if opening an ATM business ..

[Glutius]

My knowledge is not enough in this direction. But if you think logically, the creation of a business with bitcoin machines is very promising in the future. Just imagine that a year ago there were hundreds of such ATMs all over the world. Now there are thousands of them. This is just the beginning.

[killat]

In my country there were 3 new Bitcoin ATM introduced within last month. This makes me think it's quite profitable.

Good thing for ATM is that they get commissions no matter what the price is and for both buy and sell operations.

[Ridwan Fauzi]

Seems like an exchange is more profitable instead you made a Bitcoin ATM. Most bitcoin users only use bitcoin as trading and investing place because most of them live on the country who still ban bitcoin to be use as money fiat function. Other than that they have to pay a high fees to make a transaction either when we buy bitcoin on the ATM. In my country there is a service for those people who buy bitcoin without fee and until now the service still on working, the service only charge a fee when they can bitcoin to money fiat. Maybe it will better if you make a service like that.

[goldenbitC]

Yes, profitable, only not in our country (Russia). we are a bitcoin ATM fast close, and another fine can write. cryptocurrency for the government of our country is perceived as a threat to security, so it will take many years before its adoption. I plan to move to another country, but so far there is no money

[bitgoldpanther1978]

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 bitcoin is not profitable for sure I won't survive for 5 years here in this business industry.
It means Bitcoin helped a lot for 5 years now. Bitcoin in my country was being improved also due to right now we
have 10 exchange now were our central bank here approved and regulated it already.

[cipherhut]

Yes, it is if the Bitcoin ATM owner has gained a knowledge of Bitcoin ATM installation and knows the Bitcoin ATM working process then only they can make a profit in this business.

[Cryptoemran38]

Yes, it is if the Bitcoin ATM owner has gained a knowledge of Bitcoin ATM installation and knows the Bitcoin ATM working process then only they can make a profit in this business.

It will be profitable If you are the first person in your state who launched ATM, without more user it is not so worthy.

[MidnightWolf]

Anyway, the installation of Bitcoin has no ATM yet.  That is why the owners of such events will receive an absolute profit, because the competition in this activity will be absent for a long time.

[buharikx31]

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 think it is, only the thing that it depends when you will locate the ATM machien, I would recomend to palce it at supermarkets or places, where are lot of people walking and spending, for example if you are living at small country there is no reason to buy it

[jak3]

It will be 100% profitable business even if the people living in the country are not actually interested in cryptocurrency. I know setting up a bitcoin ATM takes huge amount but when you set up 1 ATM with the strange concept then people will become curious about it. And that's the wonderful thing about being human, and as you know when they will try to find out what cryptocurrency actually is then they will also try to buy some Bitcoin or any other currency the ATM supports. There is no harm to try some coins and watch them grow.