Topic: IS BITCOIN ATM PROFITABLE BUSINESS ? (Read 1735 times)
I bet starting BTC ATM is a perfect idea right now.
For sure. I wish there will be more ATMs.
In my city we have only 1 btc atm and we wish to have more. I hope it will inspire you.
I guess now it's one of the most promising directions
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 !!
ATM? Which means you need to create cards just like what banks did? If that's the case then there will be no difference between banks and cryptocurrency if there is an ATM for Bitcoin. Anyways, it really depends on how each individual interpret this business though
It is profitable if you can find a good location for it. You will need to maximize the capacity of the Bitcoin ATM, so ideally a mall or a bar would be popular places to spend money.
Making profit from Bitcoin ATM would definintely be huge in the upcoming years when bitcoin is being largely used by a huge number of people. In the next few years to come when online trading places advance to accepting bitcoin and other cryptocurrencies as payment for purchases of goods and services it would be very profitable to run an ATM for Bitcoin transactions.
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.
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
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.
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.
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.
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.
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
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.
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.
Good thing for ATM is that they get commissions no matter what the price is and for both buy and sell operations.
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.
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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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.
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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