Bitcoin ATM business is becoming hugely popular; many BTM operators are coming up in the market. From BTM online map you can easily locate Bitcoin ATM Near Me, as many BTM kiosks are getting installed in popular places. Want to invest in Bitcoin ATM business? Here is an instance to give you an idea.
This particular Bitcoin ATM is situated in a Gifts shop in Keene Route 101; users can locate Bitcoin ATM Near Me from online BTM map. This particular location initially installed small skyhook in the year 2014, and then in April 2015, it was replaced by a brand new Lamassu Bitcoin ATM. This Bitcoin ATM machine is in operation for quite long time and being used by locals often. Some statistics are available for this Bitcoin ATM. During July 2014 to July 2015 this machine generated around $2 to $3K every month. Interestingly after August 2015 the volume jumped to around $20 to $30K every month and maintained the level.
Such high volume from a small city in New Hampshire is quite unexpected, but its figures do the talking. The city is known to have a population of around 25K, yet it is reported to have good monthly returns from this Bitcoin ATM. As per reports from the owner, this Bitcoin ATM is being accessed by people of all age groups from all across Northeast region. Interestingly the Keene Bitcoin ATM is the only accessible ATM booth in all of NH, ME, VT, CT, MA, RY and Upstate NY. From all data provided by the company, it is quite clear that the Bitcoin ATM business turnover was helped by many Bitcoin users visiting the machine from remote areas.
When it comes to the profitability, the first year was very hard with respect to ROI, during the first 12 months the Bitcoin ATM machine brought only around $17.7K of volume. However there were no transactions between the period January and March 2015, maybe the machine was not working due to some problem. Bitcoin ATM fees are assumed to be around 5 to 10%; it could bring nearly $1700 earnings during the whole year, which could be considered as a failure. But after its growth of volume, the machine is now generating around $2 to $3K every month in profits, which means that in around 3 months’ time the owner gets back the cost of the machine.
So from this particular instance, it is clear that when operating a Bitcoin ATM business make sure you don’t keep changing your location frequently. The idea is to keep the same place and make sure you promote and advertise the business in a best possible manner, the number of transactions will increase for sure. Normally it takes almost half a year for a Bitcoin ATM machine to reach some popularity and considerably increase the “normal” volume. But it this case it took more than a year, but still, this will be considered as a success story.