IS BITCOIN ATM PROFITABLE BUSINESS ? - page 2.

silent17

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Quote from: Jeremycoin on July 08, 2019, 06:07:45 PM

Quote from: abderrazak belkhir on July 08, 2019, 05:52:37 PM

Quote from: rosezionjohn on January 30, 2019, 02:45:01 PM

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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.

Chikito

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Quote from: abderrazak belkhir on July 08, 2019, 05:52:37 PM

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,

Jeremycoin

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𝓗𝓞𝓓𝓛

Quote from: abderrazak belkhir on July 08, 2019, 05:52:37 PM

Quote from: rosezionjohn on January 30, 2019, 02:45:01 PM

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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.

abderrazak belkhir

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Quote from: rosezionjohn on January 30, 2019, 02:45:01 PM

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

hahahafr

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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.

sort_cirkit

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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.

littleheart

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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.

smartbitcoininvestor

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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.

JPSelzer

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World's First Crowd Owned Cryptocurrency Exchange

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.

Mihawk

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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.

Coingray

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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

sandra_x

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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.

barabarian1

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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.

ubay

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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.

Vinalians

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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.

DebitMe

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Get Paid Crypto To Walk or Drive

Quote from: Handsome Boy on July 06, 2019, 12:43:09 PM

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.

Handsome Boy

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I ❤ ₿itcoin and Ethereum

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).

Apes

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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.

Pab

legendary

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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

rodel caling

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Quote from: Teamfearless on January 29, 2019, 02:05:05 PM

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;

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