I do not think that an offline exchange will be profitable.
Lets say it would be legal to run the exchange. Every offline exchange is in direct competition to the online exchanges.
You would have to give the people a reason why they should come to you instead of staying at home and using the online exchange.
Your fees would have to be much higher than in online exchanges because you have much higher costs (rooms, employes, etc).
High fees scare people away and do not attract them.
And the number of people you can reach even in a city is way smaller than in the internet.
Topic: BitCoin Exchange - page 5. (Read 3248 times)
I honestly don't think a physical bitcoin exchange is profitable, you have way more expenses than digital exchanges which means you'll have to charge higher fees than your digital competitors. So unless you find a specific market I doubt there will be many customers. Good luck anyways!
Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?
It's really profitable. But you must see the potential of your location about how the bitcoin is familiar in your area. In my country, local bitcoin exchange is really profitable. Just using the fees and my friend can get his life even better. And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?
Bitcoin exchange is a good business if you can first guarantee traders fund will be protected with maximum security follow this by attracting traders to your exchange. if you can have a daily trade volume of 100BTC for a start is a good achievement
if you have many customer, you sure can earn money from an exchange.
Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?
Well if your talking about one that you can actually walk into IRL then I don't really think it will be profitable, you'll need to pay for rent, electrical bills and what not, and how exactly will you make money, if you charge a certain amount of fees per transaction you'll surely get some interested locals but I doubt it'll profit for ya. You'll have to think about marketing, security and what not, which will all cost, how will you ensure your customers aren't scammed? Insurance, Legality, Profitability, and Competition are a few big things to think about.
If your 100% certain you've got the legality sorted, a working business model to profit, a marketing crew to get your name out there, secure operations of the exchange IRL, and how you plan to compete with other sites such as LocalBitcoins which offers local meetups and are more known then you can go ahead. I'll be sure to stop by your local exchange if I don't have to fly out of my city to get there (or you can pay for my ticket if your exchange ends up going viral
) 
Exchanges makes profit from taking fees on transactions(deposit/withdrawal) and while exchanging from currency to another. I don't really understand how It's not going to be online though? If you mean something like LocalBitcoins and decentralized too then you won't be able to charge any fees in that case and still pay for the hosting of the website etc...
Is making a bitcoin exchange a profitable business? Has anyone have any experience?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?
And I don't mean an online one, but a local one where people can go and buy/sell bitcoin.
What do you think?
I can understand that it will depend upon the location, but I think it can help in inviting more people to bitcoin too, right?
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