IS BITCOIN ATM PROFITABLE BUSINESS ? - page 7.

newbie0506

jr. member

Activity: 233

Merit: 1

Quote from: izanagi narukami on January 30, 2019, 09:54:00 AM

It's depend !

If your government support crypto that your people will start to use crypto as daily transaction.
If there are a lot of demand, ATM business is profitable so just make sure that it happen.

Personally my government still forbid crypto so there is only 1 ATM in my country

It also depends on how BTC flows in your country/area. While Bitcoin ATMs are sure to be profitable in the first few years, but people are constantly looking on other ways to transact and interact with other users/holders. Imagine our current ATMs -- they're good and a lot of people are still using it, but they can usually interchange it with their mobile phones for paying, etc.

You can push through, but look for other ways to expand this idea fast so that you can invest the first few years of income into other things that are more stable that this.

Siren

sr. member

Activity: 826

Merit: 265

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 !!

You’re doing alot of research about bitcoin ATM but you haven’t even saw a single machine?so whats the research is all about?You should have look at it and observe if that business is well used in your place

Because just like in my country when bitcoin is available in local cryptowallet so we don’t really need to have such machine,though theres are several that sits in major city’s

SistaFista

sr. member

Activity: 1638

Merit: 251

Hexhash.xyz

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 !!

Do you mean you provide the ATM for peoples ? I wonder how much did you spend to afford the machines alone.
But if you are the only one and no competitors yet, i think you will be able to gain some profits from your country.
If there are many peoples who using bitcoin in your countries, then you will be good, although im not your financial advisor.

Dreamchaser21

full member

Activity: 686

Merit: 108

Quote from: cryptjh on February 05, 2019, 12:22:17 PM

It's really depend about how easy people can buy bitcoins elsewhere like exchanges, and what fees you will put on sales. Its also depend on your government, do they approve bitcoins trade.
If the costumer you aim for dont have banks or credit cars, then selling Bitcoins to FIAT money cut be a great business, but first you need to find out what the demand are in your city.

Yes, it must be feasible first on your place before putting Bitcoin Atm machine or else you will lose money. Location is very important so if its on the right place with huge demand for cryptocurrency, that business will become more profitable just make sure the security of your machine.

Halmater

hero member

Activity: 896

Merit: 630

After having legal advice from an experienced lawyer and you may consider to apply to authority in order to obtain permission. Since you are going to be the first, you will you will have to overcome many bureaucratic problems. But if you succeed, you will be able to generate a significant amount of revenue from this work in a short time by using the advantages of being the first company in your country.

seoincorporation

legendary

Activity: 3346

Merit: 3130

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 !!

Could be profitable if you focus on the fees, but the problem is the bitcoin volatility, because if you create an ATM some part of the capital will be in bitcoin, let's suppose you have 50% in BTC, so, what will happen if btc price drops 50%, then your business will be down by 25%, and that could represent a huge lose. But you can think about the inverse scenario, what would happen if BTC goes up by 100%, then your business would be up by 50%, so, in the end is a bet where markets takes the decision.

cryptjh

full member

Activity: 532

Merit: 187

It's really depend about how easy people can buy bitcoins elsewhere like exchanges, and what fees you will put on sales. Its also depend on your government, do they approve bitcoins trade.
If the costumer you aim for dont have banks or credit cars, then selling Bitcoins to FIAT money cut be a great business, but first you need to find out what the demand are in your city.

Fredomago

legendary

Activity: 2996

Merit: 1054

Leading Crypto Sports Betting & Casino Platform

Quote from: Rebisco on February 05, 2019, 05:00:02 AM

Due to the high demand of the people to bitcoin, the bitcoin atm is now a trend because users can easily buy bitcoin through bitcoin atm. There are now also businesses in my community that accepting bitcoin and that's why there are now bitcoin atm in my community.

Nice hearing that as it will add more information about bitcoin from your community, having this atm will bring curiosity with people who's not aware yet regarding to crypto/bitcoin industry, I also wanted to see how this atm will bring profits to people who'll going to take part of this kind of business, I'm interested to learned how things works and if there's estimated percentage of income per months.

metalglowd

member

Activity: 546

Merit: 10

💲 EMIREX EXCHANGE 💲

Well, for right now it seems like the Bitcoin ATM business is not a good thing. People prefer efficiency and buying bitcoin from exchangers is something more efficient than having to go out just to get an ATM like this. Moreover, The crypto hype is currently weakening so this is the bad time to make that kind of choice

dongyi17

full member

Activity: 616

Merit: 100

FRX: Ferocious Alpha

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 !!

In my opinion I think no, because its defend in the market price of bitcoin and also its defend in your government if they support that kind of business. ATM is profitable business but in cryptocurrency i suggest don't do it. Because the price of cryptocurrency is unpredictable.

Theb

hero member

Activity: 1680

Merit: 655

The same rule will always still apply, if you think that you are creating a business on a market with no competitors it is the best time for you to gain as much market share possible before a new company enters in your market. Just like in any business your top 3 priority is Location, Location, Location as this will determine the convenience and availability your service has for its customers, the other part of course is marketing your new service, since you know it yourself that as of right now there are no existing Bitcoin ATMs in your country its the best time now to introduce that you are the first one to make it available.

gabmen

hero member

Activity: 1246

Merit: 529

CryptoTalk.Org - Get Paid for every Post!

Quote from: Rebisco on February 05, 2019, 05:00:02 AM

Due to the high demand of the people to bitcoin, the bitcoin atm is now a trend because users can easily buy bitcoin through bitcoin atm. There are now also businesses in my community that accepting bitcoin and that's why there are now bitcoin atm in my community.

Well depending on where you're located that is. If people in the area are mostly aware and are crypto literate, then i guess the cost of setting up a btc atm would at least be worth it. Generally though, it's not going to be as profitable as we would like especially with the state of the market and crypto at the moment.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

I think you need to ask with the government about your idea to build bitcoin ATM because it's related with their regulations. And if they approve the crypto, then you can start to make a company, and you can place the bitcoin ATM. I think there will be many people will involve in this business since you need approval from the other business owner if you want to place the ATM in their store. I guess you want to set the ATM in the malls or the shopping center, so you need approval from them too.

oceantiger

jr. member

Activity: 308

Merit: 8

If your research result is showing that you have the market and also the cost of procuring and installing the ATM machines then do the simple arithmetic to know whether the commissions gotten will be able to pay the bills. If the figures are good then go ahead.

Rebisco

full member

Activity: 651

Merit: 103

Due to the high demand of the people to bitcoin, the bitcoin atm is now a trend because users can easily buy bitcoin through bitcoin atm. There are now also businesses in my community that accepting bitcoin and that's why there are now bitcoin atm in my community.

Naida_BR

member

Activity: 980

Merit: 62

I don't think that it is very profitable right now but it has great potential to be in the future.

It depends on how many people in the city uses cryptocurrencies and what is the exact number of citizens that live there, their income etc. You may be in Top 5 countries in Africa that uses crypto but too little of people to use them in your area.

My local Bitcoin ATM company seems to be operating in other ways apart from the ATM such as trading and investing. Maybe they do that so as to keep a stable income.

bitbunnny

legendary

Activity: 2912

Merit: 1068

WOLF.BET - Provably Fair Crypto Casino

Depends on the geographic area and country you are planing to start business. To my opinion in majority of Europe they are not so popular anymore because people have other more convenient options for buying or selling Bitcoin. Maybe with good promotion you could attract more users and also attractive location could have its advantages.If you don't need a lot of administrative work and permissions and it's no big investment you could try.

pinoyden

full member

Activity: 756

Merit: 102

I can say yes they are . i know others might disagree with it because they thought btc is not yet well known . that is actually your advantage . real business minded person take that as an oppurtunity to be the first one to open that kind of business .

They can get more costumer because no other atm's available on that area aside from them. How much more if btc will become a widespread later on ? Their existing costumers will only add up because they are the pioneer .

Crypt0Pro

newbie

Activity: 53

Merit: 0

I think it will be profitable soon, but not now. It also depends on your government.

mich

legendary

Activity: 3122

Merit: 1032

#1 VIP Crypto Casino

This is like asking me if a hamburger stand is a profitable business.
It depends on certain things like location and traffic- but I dont think many people are seeking out to find BTC ATMs.
Another thing was if this was a profitable biz then you would see much more of them.

Topic: IS BITCOIN ATM PROFITABLE BUSINESS ? - page 7. (Read 1725 times)