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Author Topic: IS BITCOIN ATM PROFITABLE BUSINESS ?  (Read 1367 times)
Mihawk
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July 06, 2019, 11:36:49 PM
 #161

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.

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July 06, 2019, 11:45:36 PM
 #162

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.

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July 07, 2019, 06:08:11 AM
 #163

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.

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July 07, 2019, 03:39:21 PM
 #164

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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July 07, 2019, 04:11:23 PM
 #165

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.

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July 08, 2019, 07:44:56 PM
 #166

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.




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abderrazak belkhir
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July 08, 2019, 10:52:37 PM
 #167

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

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July 08, 2019, 11:07:45 PM
 #168

~

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.

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July 09, 2019, 12:35:28 AM
 #169

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,

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July 09, 2019, 01:47:03 AM
 #170

~

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.

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July 09, 2019, 11:57:32 AM
 #171

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

 
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July 09, 2019, 12:23:45 PM
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 #172

<...>
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.

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July 09, 2019, 02:28:36 PM
 #173

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 ..
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July 17, 2019, 10:24:57 PM
 #174

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.

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July 18, 2019, 06:07:39 AM
 #175

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.

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July 18, 2019, 06:37:48 AM
 #176

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.

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July 18, 2019, 10:03:53 AM
 #177

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

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July 18, 2019, 11:17:47 AM
 #178

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.

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July 18, 2019, 11:26:58 AM
 #179

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.
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July 19, 2019, 05:48:26 AM
 #180

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.
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