Bitcoin ATMs are a quick and easy way to buy bitcoin and other cryptocurrencies. But how much do they actually make?
Bitcoin ATMs are typically operated by companies that also run traditional ATMs, so they have the same basic business model. They charge a fee for every transaction, and the fees vary depending on the type of transaction.
For buying bitcoin, the typical fee is about 5%. So if you buy $100 worth of bitcoin, you would pay $5 in fees.
For selling bitcoin, the typical fee is also about 5%. So if you sell $100 worth of bitcoin, you would get $95 in cash.
The ATM operator may also charge additional fees, such as a monthly maintenance fee or a per-transaction fee.
So how much does an ATM operator make? It depends on how many transactions are made and what the fees are. But based on the average fees, an operator could make around $10,000 per month from a single ATM.
ATM operators can also make money from selling advertising space on their machines. And some operators offer other services, such as money transfers or bill payments, that generate additional revenue.
Overall, Bitcoin ATMs can be a lucrative business for those who operate them. With the right location and fees, an operator can easily make thousands of dollars per month from a single machine.