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 !!
Maybe you better ask in local forum in your country or maybe city. Because i know put bitcoin atm is not really used by people. In my country there are several bitcoin ATMs but not a lot people use it because they already have fiat. 
Topic: IS BITCOIN ATM PROFITABLE BUSINESS ? - page 8. (Read 1725 times)
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 !!
Is bitcoin A profitable Business and if you any manufactures of this ATM you can recommend to me !!
No one here can answer that.
It literally all depends on you.
You need to calculate all of your startup costs, then maintenance costs.
Do you have the resources to run it for months with no income from it.
Can you afford to switch locations, if it turns out to be a bad one.
What will you do if someone damages it?
Are you prepared for legal requirements that could close it before you see a profit?
It is like any business, in the end, your choices & determination will be the final arbiter of whether or not the business succeeds for you.
A simple choice such as location may be the difference between whether the business is profitable or an utter failure.
And you always make your best decision, but to succeed, you need to be able to weather a few mistakes with no profits.
Good Luck.
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 !!
Is bitcoin A profitable Business and if you any manufactures of this ATM you can recommend to me !!
No one here can answer that.
It literally all depends on you.
You need to calculate all of your startup costs, then maintenance costs.
Do you have the resources to run it for months with no income from it.
Can you afford to switch locations, if it turns out to be a bad one.
What will you do if someone damages it?
Are you prepared for legal requirements that could close it before you see a profit?
It is like any business, in the end, your choices & determination will be the final arbiter of whether or not the business succeeds for you.
A simple choice such as location may be the difference between whether the business is profitable or an utter failure.
And you always make your best decision, but to succeed, you need to be able to weather a few mistakes with no profits.
Good Luck.
I do not agree on most of your points here. There a lot of Fiat currecny ATM in our country and no one damages it. Why would anyone damage the Bitcoin ATM ?
Also no one will close it because you will only start the BTC ATM once you have taken permissions from the legal authorities.
Bitcoin ATMs weren't that profitable in my opinion. Got to know about it through an news article which describes about the shutting of lots of bitcoin ATMs around the world. People try to cash it out through trading platforms due to the increased transaction fee of bitcoin ATMs. Also not much of people are aware about the bitcoin atm.
Yes, it can become Profitable business if you are running your business in the place where there are so many people who used daily and know how is cryptocurrency work. Then you should tell and promote to the people around your business area how good and profitable your business for them
it depends, if bitcoin dont die then it will be a profitable one but if people loses the faith due to masssive downfall of it recently then the dream of being a decentralized society will vanish.
You know the government is doing everything to get rid of the things that gets on its way and they consider these things as threats, i wish people realize that freedom is the key to a successful economy and that will only happen if the government stop manipulating us.
You know the government is doing everything to get rid of the things that gets on its way and they consider these things as threats, i wish people realize that freedom is the key to a successful economy and that will only happen if the government stop manipulating us.
I agree the transaction fee should be very low and it is the main idea and the reason why bitcoin was developed to make low cost transactions without any barriers and if ATM business to develop it should be considered as significant and it will become popular quickly because the bitcoin community is still growing and placing machines will make a big difference. This will show the world that Bitcoin is usable in every where without any barriers and this can collect more cash flow into Bitcoin from local communities because with this more people will start to use Bitcoin so more will have to purchase it and eventually demand will rise
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 !!
It depends upon which country you are planing to start this ? It can only be started where bitcoin is legal and governments has no objection in bitcoin business.
Yes, this is a profitable business, but be prepared that at first there may be few customers, since many will not want to shine, they know about the bottom in general. There are many reasons for this. But in general, the idea is very good, and it needs to be deliberately implemented.
You need to support your opinion with complete project plan on how profitable this business can be and what will be the investment profit ratio ?
Yes, this is a profitable business, but be prepared that at first there may be few customers, since many will not want to shine, they know about the bottom in general. There are many reasons for this. But in general, the idea is very good, and it needs to be deliberately implemented.
It is highly dependent on the location you are placing your ATMs. Then you have to pay the mall or store that owns the land a fee. You would probably make much more just straight up buying bitcoin yourself and waiting for the next all time high.
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 never truly researched about it since i'm personally interested on doing other things. However, i did read an article where guys in Venezuela where going to install the first ever Bitcoin Atm machine so you can imagine. If someone in Venezuela can find it profitable anyone anywhere in the world can find it profitable too.
I do not agree to the point that other users has stated that the bitcioin atm machine is profitable. Bitcoin has still not adapted and even use as a payment. The demand is not that high and it will even be an expensive for it will have maintenance and the electicity it will be using.
Bitcoin ATM can be very profitable if implemented properly because when placing an ATM machine to do bitcoin transactions you should consider many things such as the type of people live in that area, There knowledge about technology, average age (because younger generation is attracted to digital currencies that older people), Government view regarding bitcoin and many more and if you implement bitcoin ATM project by considering such facts I think success is inevitable
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 !!
Bitcoin will always be a profitable for the business. Let us use our common sense at this point of time, why most of the merchant nowadays are bitcoin accepted to their owned business as their mode of payment? do you think they don't see any potentiality in it? or Do We think that the investors who adopted it will waste their capital if they know its not good. And why DELL company also adopted it too, it means bitcoin has a brighter future ahead of us.
making a pure BTC/ETH/LTC ATM doesn´t make sense to me except you have High Volume Like in Huge Malls.
Small shops profit quiet well from BTC ATMs with different Coupons, cause they have more Visitors and get may
people in which would not visit a ShishaBar, ÖKO-Shop etc. otherwise, also after the user knows how to use it he is encouraged to Speak/Buy/SpentTime in the shop afterwards. Tee or coffee bar would be not bad
Small shops profit quiet well from BTC ATMs with different Coupons, cause they have more Visitors and get may
people in which would not visit a ShishaBar, ÖKO-Shop etc. otherwise, also after the user knows how to use it he is encouraged to Speak/Buy/SpentTime in the shop afterwards. Tee or coffee bar would be not bad
I think it's a great idea for business. While bitcoin is not so popular, but soon it will change and bitcoin ATMs will be a great success and demand and that in the future will increase your profits many times. In the meantime, you need to contribute to this and I think you will succeed.
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 order to actually make this work and actually profit from it you have to consider 2 main things, first the number of people that actually uses bitcoin in your country and this is mainly tied to how many shops/ places accept it as a payment method, because there will be no need for a bitcoin atm if people can't use bitcoin, which is also tied to weather the government is ok with it or not, and the second thing is the place that you are installing the atm at, for instance if you put it in like a train station you will be targeting more of the locals while when you install it in an airport you will be targeting more of the tourists and foreigners.
It is all about location, just ensure they are placed in a location where there is suitable demand. If there are drug dealers nearby they will certainly use it, or a densely populated area
Teamfearless, I think it would be very useful to first of all make a good market research in your country about whether people are willing to use BTC ATMs, and what fee they are willing to pay for it. It is also very important to study all country's tax laws and what is the status of your country in relation to cryptocurrency.
Business with ATMs certainly can be profitable, but you must have a good user base who regularly use such services. Also you should not exaggerate with the fees, 5-6% of each transaction should be quite enough for you.
You can find more information about manufacturers on this link : Bitcoin ATM Manufacturers
Business with ATMs certainly can be profitable, but you must have a good user base who regularly use such services. Also you should not exaggerate with the fees, 5-6% of each transaction should be quite enough for you.
You can find more information about manufacturers on this link : Bitcoin ATM Manufacturers
Yes, you should definitely try. Perhaps this will increase interest in bitcoin in your region and lead new people into our crypto community. Very well what you want to spread information about bitcoin. The main thing that the authorities have not applied to you any sanctions for.
with the bitcoin ATM, of course, it can provide a small advantage for companies that provide bitcoin ATM services, usually they will add more shipping to bitcoin ATMs so that companies will only benefit if someone uses the ATM machine.
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