In case you didn’t know, the Bitcoin ATM market is exploding with predictions stating it will rise to a value of $542.52 million by 2027, growing by over 52% each year.
These predictions indicate a strong demand for Bitcoin ATMs. This is not surprising, given how secure, convenient, and fast Bitcoin ATM transactions are.
Are you a business owner? Do you have a Bitcoin ATM installed on your premises? If not, you are missing out on some significant benefits.
Not only are Bitcoin ATMs easy to run, but they can also give your business a boost and a competitive edge over others in the area. And what business owner doesn’t want to provide themselves with an easy-to-implement advantage?
If you’re curious to know whether hosting a Bitcoin ATM is a good idea, then you need to keep reading. Because we’re about to outline all the reasons why having a Bitcoin ATM at your business can drive feet and revenue.
What Are Bitcoin ATMs?
Bitcoin ATMs are what their name suggests, ATMs that allow users to buy and sell Bitcoin (and other cryptocurrencies) for cash, holding multiple benefits for users.
For one, Bitcoin ATMs offer enhanced privacy. Their transaction speeds are also fast, and users can buy Bitcoin instantaneously. In contrast, you often have to wait for an extended period while your account goes through an approval process with online exchanges.
If you want to buy Bitcoin now and lock in a reasonable price, waiting multiple days to open an account with an exchange can be highly frustrating. What’s more, you may have to buy at higher costs if the market is rising.
Besides these benefits, Bitcoin ATMs also offer an easy and convenient way for people to convert cash to digital currencies. Although cash is king, not everyone wants to sit with a wad of it. So instead, with a Bitcoin ATM, you can instantly convert cash into a top cryptocurrency.
Because Bitcoin ATMs can be helpful to cryptocurrency users, they also have several benefits for the places that host them. These include the following.
You Get to Earn Extra Revenue
One of the most obvious benefits of installing Bitcoin ATMs is the extra revenue it can bring you as a business owner.
If you’re wondering how a Bitcoin ATM works from a host’s perspective, the answer is simple. In exchange for hosting the ATM, you get to either earn a share of the fees or be paid a set “rental” fee for hosting it.
If you choose to purchase a Bitcoin ATM and run it yourself, you can keep all kiosk fees. (This isn’t generally advised as running your own Bitcoin ATM comes with various compliance hurdles.)
Depending on how busy the area is where your business is located, you can enjoy a nice side revenue stream from your Bitcoin ATM. Additionally, even if you’re in a quiet area, but one where there are no other Bitcoin ATM locations, you can still enjoy some excellent earnings.
Bitcoin ATMs Can Bring In New Feet
Besides paying you outright, Bitcoin ATMs can benefit your business by bringing in new feet through cross-marketing.
For instance, say you run a small grocery store. Then, to further serve your customers, you set up a Bitcoin ATM kiosk.
Now, people in your area who are googling “nearest Bitcoin ATM” will find your business listed. They then stop at your store specifically to buy Bitcoin through your ATM.
At the same time, they remember they wanted to pick up a bottle of wine and needed some extra mushrooms and cheese for their pasta evening. Because they’re already in your store, they grab these items there instead of heading off to another, larger grocery store. If your service and products are good, and your prices are reasonable, you may find you get repeat customers from these visitors.
Multiplied over numerous people every month, and the new business that Bitcoin ATMs attract can add up.
Typically, it’s hard for smaller businesses to attract new customers out of the blue. But, without extensive marketing budgets and branding campaigns, how will you get additional feet in the door? Installing a Bitcoin ATM is an easy way to fill a void for people in your area while also earning additional cash from your share of the fees. Not to mention gaining extra exposure for your business.
A Bitcoin ATM Machine Will Set Your Business Apart
Besides drawing in new customers, hosting Bitcoin ATMs can also set businesses apart from their competition.
For instance, say you run a computer store. As a computer shop, you want customers to associate you with everything tech and cutting edge. So, what is more, current and cutting-edge than blockchain, digital currencies, and Bitcoin?
By hosting a Bitcoin ATM, you can show customers that you are a future-forward business that’s modern and moves with the times.
Besides indicating that your business is current and tech-savvy, hosting a Bitcoin ATM might have an even more significant impact on some people. Why? Well, because Bitcoin started as not only new technology but also as a currency revolution.
Many people who buy and use Bitcoin do so not just to make money. Instead, it’s a way to embrace a unit of exchange that’s decentralized and not controlled by governments and policymakers.
Bitcoin was designed to be 100% fair, reliable, and free from the issues that plague fiat money, such as inflation. Because of this, bitcoin and many other cryptocurrencies have a following of users that are incredibly passionate about crypto adoption.
Suppose someone passionate about Bitcoin adoption sees that your business is hosting a Bitcoin ATM. In that case, chances are they’ll view your business in a positive light. What’s more, they might even favor your business over other similar ones in the area simply because you support the adoption of cryptocurrencies.
Reduced Cash Handling Costs
Another advantage of hosting Bitcoin ATMs is that they can reduce cash handling costs for your business. For example, suppose you have a regular cash ATM at your company. In that case, you can, in some cases, choose to transfer cash from your Bitcoin ATM into the cash ATM, making convenience and savings on cash handling costs.
Your Business Will Get Featured on Bitcoin ATM Map Sites
If there’s something that all business owners want, it’s got to be increased exposure. So another perk of hosting Bitcoin ATMs is that your location will be automatically featured on Bitcoin ATM map sites upon installation. Various map sites and location lists help cryptocurrency users locate Bitcoin ATMs and offer your business free advertising!
Many Bitcoin users actively look for Bitcoin ATMs by searching online. Thanks to the ease of use and security of Bitcoin ATMs, they are coming into high demand.
By installing a Bitcoin ATM, you can enhance your online presence and serve those looking for BTC ATMs in your area.
You Might Become a Bitcoin Meetup Venue
Another potential benefit of hosting a Bitcoin ATM is that it might cause your business to become a Bitcoin meetup venue. What better place to host a Bitcoin meetup than at a location that has a Bitcoin ATM?
People looking to meet up and learn about Bitcoin are usually the same people that may want to use a Bitcoin ATM. Bitcoin ATMs allow for automatic paper wallet generation. They don’t require you to have a bank account. They don’t put you through approval processes like online exchanges do, all of which are inviting features for Bitcoin meetups.
Bitcoin ATMs Are Easy To Set Up
Along with gaining you extra feet in the door, more customers, more exposure, and more revenue, Bitcoin ATMs are also straightforward to set up.
Some business owners choose to buy and install their own Bitcoin ATMs. While this is doable, we wouldn’t advise it because you will have to jump through several regularity hoops to own an ATM.
The easiest and safest way to host Bitcoin ATMs is to contact a crypto ATM company such as us. All you need to do is get in contact, and we will come and install a Bitcoin ATM at your business free of charge.
We take care of everything, including rock-solid compliance, liquidity, money transport, support, and services. Yet, at the same time, we also offer higher commissions than all of our competitors.
Are You Looking To Host A Bitcoin ATM?
If you are looking to host a Bitcoin ATM, now is the time to act. With experts predicting that Bitcoin will reach unbelievable new highs in value this year—who knows how many people may come to your business in search of Bitcoin ATMs.
Ready to draw in more feet, more revenue, and demonstrate to customers that you are on board with the decentralized future? Contact us today to schedule a Bitcoin kiosk installation at no cost to you.