Bitcoin is becoming popular in different places around the world, and it is turning out to be a good opportunity to invest in Elgin Bitcoin ATM business. Many investors are eager to startup their business, and we are trying all means to help you understand the possibilities and profit. However the profit may vary from place to place based on certain parameters, but this will help you to get an idea about the whole concept.
Bitcoin is successful enough in getting the attention of many individuals around the globe, one main reason why Elgin Bitcoin ATM business is proving to be a good option these days. Due to such high attention, the first Bitcoin ATM in Vancouver did a business of around ~$95,000 in 348 transactions in the first eight days. However, at a later stage, it was announced that this Bitcoin ATM did a business of around ~$950,000 in transactions during the first 29 days. There were 1,576 buys as well as sells in that period.
Interestingly the overall investment on Bitcoin ATM was paid back within a month in this case.
As per the co-founder of BitAccess machines in February 2014 Bit Access machines where making around $10,000 in transactions every day, it transforms to around $300,000. The figures are really impressive, and it shows the popularity of Elgin Bitcoin ATM in many parts of the world.
This particular Bitcoin ATM is located in Bristol, and at this point, it is the only Bitcoin ATM available in the city. As per our reports, there are many Bitcoin users in the place. This machine processes around £38,000 in 1 month with 250 operations in total. The average transaction size is £152 which is good enough. This is amongst the successful Bitcoin ATM machines in use from this operator. They have few more machines installed in London but with lower volumes. We believe lower demand in London is because of several other machines installed around the place. To be exact, there are around 6 Bitcoin ATMs installed in London. Bitcoin ATM fee in Bristol is set at 5%. As per our Bitcoin ATM ROI calculation, we found the break-even point for this particular Elgin Bitcoin ATM is around 11 months from the launch.
This particular Bitcoin ATM is installed in BitMarket.ph office in Makati City. According to the company, this Bitcoin ATM has been sparsely used since its installation. This machine was shipped from Portland, and they estimated around 100 users for this Bitcoin ATM machine over the past few weeks. We are assuming this number of transactions starting from the very launch date of this Bitcoin ATM machine in the middle of June 2014; in that case, 40 to 50 transactions take place every month. However, there was no information revealed about the average Bitcoin purchase or selling size by the Company.
These are few instances which will prove that Elgin Bitcoin ATM business is profitable. Are you interested?