Operating bitcoin atm _ blog _ coin atm radar whats bitcoin

With a trend of growing number of bitcoin machine installations worldwide many business owners start to consider hosting a bitcoin ATM at their premises. This post is supposed to help take a decision about how to house a bitcoin machine.

Generally there are several ways of doing it:

• organizing all on your own and later on also self operating machine(-s);

• finding someone who will be ready to finance and install machine at your location;

• some options in between the above two scenarios.

Street sign at 824 S vermont ave in los angeles, coin cloud bitcoin ATM operating bitcoin machine on your own when not to pursue…

The first option is rather a tedious task. Running a bitcoin ATM is a separate business by itself. In order to run a machine one should do all preliminary research work, e.G.

Finding out what is the legal status of such a business in the area and which licenses are required, then generally obtaining all permissions to do it within legal framework, which is usually time requiring and costly process. Apart from initial investments in legal advice services and obtaining permission, and then investment in machine hardware itself, business owner also will need to organize and maintain running of a bitcoin ATM on ongoing basis.Whats bitcoin this means to provide liquidity for bitcoin machine operations, and also organize the exchange process and provide all connected services, e.G. Customer support.

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Bitcoin ATM industry is growing fast. There are several new bitcoin machine installations worldwide daily. Existing bitcoin ATM operators increase number of machines in their networks, as well as new operators join the market. Even on the production side, there are new manufacturers developing their products and coming to the market with new bitcoin machine models targeting different segments and niches, e.G. Recently were added bitteller, bitlox, bitconcept on our site.

Running a bitcoin ATM is an interesting business opportunity in the new era of digital currencies, however, sometimes the lack of information keeps people away as they don’t know where to start, or get any practical estimations of how much you can earn with a bitcoin ATM.Whats bitcoin in order to increase transparency coin ATM radar conducted a survey with a number of bitcoin ATM operators to find out what are current metrics of an average bitcoin ATM business.

Before going any deeper we recommend to read:

• “how much can I expect to make owning a bitcoin ATM?” on quora

• bitcoin ATM profitability real life examples

• how to start a bitcoin ATM business – check list

• exchange and counterparty risks when running a bitcoin ATM

Now back to survey. It was sent to 24 operators in total, 11 responded either in full or skipping some questions due to not wanting sharing info, although it was mentioned that none of info will be associated in any form to the company or person responding. Even limited info we received gives a good estimation of level of costs and earnings one should expect.Whats bitcoin

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