The competition is tough in this industry and your competition already have a huge advantage over you, because they have built up a Brand and reputation in the market.
Topic: IS BITCOIN ATM PROFITABLE BUSINESS ? - page 9. (Read 1735 times)
Do you simply want to hire a Bitcoin ATM from a existing Bitcoin ATM distributor or do you want to start manufacturing and distributing these Bitcoin ATMs yourself? You did say, " ….thinking about Starting My own bitcoin ATM company… " so I assume you want to go into manufacturing and distribution, right?
The competition is tough in this industry and your competition already have a huge advantage over you, because they have built up a Brand and reputation in the market.
The competition is tough in this industry and your competition already have a huge advantage over you, because they have built up a Brand and reputation in the market.
this is a good step and you will get a big profit, but you have to advertise this in your environment seriously so that you can attract a lot of interested people. run this business in a city with a large population is a good way because more people know it, the sales ratio is higher
this might be a good step to start a business that will possibly become a hit soon but for now you cant expect to earn huge profiits becuase bitcoin is not yet really popular on most countries . atm business does not also need advertisements because you are already exposing it to the public . though you may need to put some catchy banners to attract alot of costumers . the idea of bitcoin atm's can even encourage people to try and use bitcoin . win or loose , bitcoin atm's are still helpful to the crypto community .
this is a good step and you will get a big profit, but you have to advertise this in your environment seriously so that you can attract a lot of interested people. run this business in a city with a large population is a good way because more people know it, the sales ratio is higher
I heard already on this kind of business, even in ICO's, I heard it already. Having an ATM card or a card that they might store Bitcoin and cash ot or pay bills payment. But it seems nothing since Bitcoin is not yet legal. So, I think it might profitable if you are going to publish it longer and have a bounty program here or any website that can drive traffic.
Bitcoin ATM should have at least the same profitably as a classic exchange has, or even more as competition is lower yet on this segment. Principle is the same: They but Btc lower and sell higher.
this is a good step and you will get a big profit, but you have to advertise this in your environment seriously so that you can attract a lot of interested people. run this business in a city with a large population is a good way because more people know it, the sales ratio is higher
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 there is a high demand yet ATMs are limited in your place, it is a good idea to put up that kind of business. Before starting ATM business, you should also do research about the number of your possible customer and if you can really gain profit from this. Other factor that should also be considered is the competitors. It is an advantage if there are less competition happening in your place.
Btc has potential to remain profitable in the future because of its deflationary character.
It allows you have option to opt in and opt out of the world fiat currency in which everybody has to play it. The rule is simple. The fiat currency mechanic is deflationary currency which lose its value on Day to day basis. Bitcoin mechanism is deflationary currency, it has limited supply, no one will be able to print more money. In the world of fiat currency, everytime you woke up, you are poorer because the fiat currency value less. You see goods and services raised every year, its not the fruit you buy that cost more, it means the fiat money such as US dollars, euro, yen, etc… lost its value...
It allows you have option to opt in and opt out of the world fiat currency in which everybody has to play it. The rule is simple. The fiat currency mechanic is deflationary currency which lose its value on Day to day basis. Bitcoin mechanism is deflationary currency, it has limited supply, no one will be able to print more money. In the world of fiat currency, everytime you woke up, you are poorer because the fiat currency value less. You see goods and services raised every year, its not the fruit you buy that cost more, it means the fiat money such as US dollars, euro, yen, etc… lost its value...
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.
For now, I think it is not because there are only few bitcoin users use this features in converting fiat money to crypto or vice versa. This because bitcoin is not yet widely adapted even to those countries which bitcoin were relatively known. However, bitcoin atm could be profitable in the near future. Well just have to wait and see when will bitcoin be adapted from every countries around the world.
as someone who has never used a bitcoin ATM and i probably will never use them because i don't see any point in doing so with their high fees, i have to say it doesn't look to be a profitable business to me.
but at the same time when i look around i see a lot of them popping up everywhere. so there must be some profit in it that they are doing such a thing.
what i can suggest is that you investigate in your own country and specifically in exact place where you want to install the ATM machines. you have to see if there is any actual demand for such a service there and that's not something we can tell you on this forum.
but at the same time when i look around i see a lot of them popping up everywhere. so there must be some profit in it that they are doing such a thing.
what i can suggest is that you investigate in your own country and specifically in exact place where you want to install the ATM machines. you have to see if there is any actual demand for such a service there and that's not something we can tell you on this forum.
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 !!
definately not if you run a pure bitcoin ATM,
but with flexible ATMs you could have a future
Yeah, it's really profitable, and its significance will rise even more in the future. If you can start up one, then good for you. It's always an edge to be the pioneer. Just imagine the charge that you will gain from running one plus the rise in the value of bitcoin each year. You will surely explode in profit.
in my personal opinion the bitcoin ATM business is very profitable, because we all know that technological progress is progressing and developing, and the longer the use of bitcoin is increasing.
I think your business is quite impressive but you need to have huge amount of bitcoin and capital. Having this kind of business will have a good effect in bitcoin and in bitcoin community because they can easily convert there bitcoin into fiat and vice versa. I hope your business will success.
an interesting question that i have been wondering myself ever since i saw a surge in number of ATMs around the world recently. i think the profitability of it depends on a couple of factors. for starters the country you live in and the laws of it. in some places installing an ATM may cost you a lot more than it can make you not to mention the problem you may face legally. like that dude in India which tried it recently without a license and was arrested for it.
the other issues is that ATMs have a certain clientèle. not everyone wants to use an ATM, only those who want the maximum anonymity use them and since the fees are already high that limits the customer base a lot and with it the profit that you can make.
the other issues is that ATMs have a certain clientèle. not everyone wants to use an ATM, only those who want the maximum anonymity use them and since the fees are already high that limits the customer base a lot and with it the profit that you can make.
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 !!
Of course it is a lucrative business if you put an ATM in a place where many foreign tourists visit your country, of course it will help foreign guests in exchanging currencies to make it easier, even though in my country only some cities have it but at least enough to help your country's economy in the future ...
You have a good idea to put a bitcoin ATM but right now i think this is not possible because as you can see the value of bitcoin this is to low and everyone was bothered and stress on their lose but try to think first what is the possibility or the concept how you earn. Bitcoin ATM is for the future because right now we are on going to cashless society.
It's good that you did a research that bitcoin ATM's aren't yet crowded on your country. I read a post of a bitcoin ATM owner when there's a news about the bitcoin ATM theft case. He said that it's not just about the ATM, operator and the cash that's inside the ATM.
You'll also have to secure and insure it which means you'll have to buy insurance just in case there's something bad happens to your ATM's. If there's quite good number of crypto users in your country and you're the very first one to apply it, that will click.
You'll also have to secure and insure it which means you'll have to buy insurance just in case there's something bad happens to your ATM's. If there's quite good number of crypto users in your country and you're the very first one to apply it, that will click.
I'm sure it is a very profitable business. Firstly, if there is not many ATM in your country, there is certainly demand and you would be one of the first to give that service. And then, ATM's are highly profitable because most of them have a differnce from the actual price, sell price is lower while buying price is higher or same. You will have enough for fees and a big profit if many people use it.
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?
Exactly my sentiment, you can't put an ATM in the middle of nowhere and expect it to be profitable, but it is anything but a saturated niche.OP doesn't seem interested in sharing his location though.
Jump to: