Buy a Bitcoin ATM
- August 10, 2017
Important things to know before you buy a bitcoin atm
With time Bitcoin ATMs or BTMs are growing in number all around the globe similar to a number of enthusiasts entering the industry. Many individuals are eager to invest in BTM business seeing the long term benefits, but to start many things need to consider. Operating a lucrative business in this field means there are various risks, and huge investment is also necessary. The revenue from kiosk depends on various factors, selecting an ideal location, buy a bitcoin atm matching your need and have a full fledged website that tracks all BTM locations.
To start BTM business the most important thing is to have sufficient revenue to start up the venture. Finding a suitable location for your ATM business is another important thing which can help in getting the attention of users. A profitable BTM business is the one which is placed in a convenient location, accessible by the common public at ease. Off late many operators are coming up in the market with their network of machines installed in popular cities around the world. Most of these service providers are eyeing restaurants, departmental stores, cafeterias and beer shops.
Starting own Bitcoin ATM business
For every Bitcoin ATM business, the location plays an important role. Apart from that the type of business, opening hours and machine placed in the establishment can help in getting more users. At present there are 628 BTM machines installed all around the United States, this number is increasing at a rapid pace to match the need of Bitcoin users. Many new operators are coming up with a chain of BTM chains around modern cities, a worthy investment opportunity that gives you the chance of earning good profit.
There were data collected from many kiosk locations around the globe and on an average it was found that every BTM brought $30,000 transaction volume every month. There are few low transaction volumes reported in between $15,000 and $25,000 per Bitcoin machine. On the other hand, some popular BTM machines were reported to have $100,000 on an average. From these numbers, it is clear that the transaction volume on any particular BTM depends on its location, facilities and type of machine used. ATM machines located at prime locations can easily achieve a target of $30K transaction volume every month, based on which operators can earn a profit.
Doing proper marketing
To get the attention of Bitcoin users, it is important that you select locations that are visible enough for the crowd and ensure proper advertisement over the internet. Most operators charge a transaction fee, which helps them to earn profit per machine. This rate varies from operator to operator. Some service providers are charging fees of 1%, 5 % or 10% and on the other hand, there are few charging zero percent fees. On an average ATM fee charged is around 8.48 percent for buying and around 5.64 percent for selling, accordingly, you can calculate your profit every month based on transaction volume.
Get all necessary details before starting this venture.