Quote from: BtcATMs on February 16, 2020, 03:16:46 PM

Quote from: ozoro on February 15, 2020, 05:50:13 PM

Thank you all for your comments and insights, yes there is a lot information on Google, etc , much of it is old though. I was a relatively active trader on LBC and before i started on LBC it was difficult to get a handle on market size and liquidity, even with all my prior research.

I seem to be facing the same issue here, I can't judge the size of the market, its even more complicated because the market depends entirely on geographical location. Am thinking of locating in trendy, up and coming areas of town, but am confused...young student areas or yuppie newly gentrified areas? or largely immigrant ethnically mixed areas?...... once again any suggestions?

It would be great to hear from someone who actually uses BTC ATM's or anyone in the business

I understand very well the problem you are having judging the real size of your market. We are in a very similar situation installing the first machine(s) in Spain. I completely agree that the geographical location is the most important aspect (even on a micro level, ie. on one street vs. around the corner, inside a shop vs. street level w/ 24h access) and also security for the machine is very important.

Personally I can only go by statistics, which show Gen Y is the best target market (25% of Generation Y between the age of 18 and 34 are now considering the cryptocurrency as a better investment than property - note that is a US based report) which seems like the natural progression. However I believe it is also just as important (or more important) to be in a location that is convenient, for example I think it would be better near the "central station" with high traffic and easily accessible by metro rather than a remote university town.

Also, I saw another report showing that most BTC users are not "spending" BTC in developed countries as most users in developed nations are speculators which has us focusing on purchasing/crypto adoption strategies (however, I personally have only used the machines a few times and that was to sell BTC-> Cash in a pinch, so it is very hard to tell).

I think it is best near a popular city centre plaza which is is also walking distance from a few universities (within the city it is a very high traffic area statistically). IMHO, the best solution is do as much research as possible, then test the market but make sure you are not locked-in by any long term rental contracts, and if necessary, move the machine(s) to different locations.

Good luck!

Thank you for your detailed response. Yes I am looking at locating the ATM in a busy city centre with lots of Gen Y and students and very mixed nationalities. I expect to make more in people buying BTC than selling (but time will tell). I am also expecting average buyer of BTC to spend on average 100 per person. Our target was 1 BTC per day but a previous poster says that's highly unlikely. What do you think?