What Are the Advantages of Hosting a Bitcoin ATM at Your Business?

Posted by artemis teigan on February 10th, 2021

Are you a business owner or an entrepreneur considering the potentials of hosting a local bitcoin ATM at your business? Or are you just catching up with the bitcoin buzz and looking for opportunities to exploit? This article is written just for you.

For those who are not very familiar with the terminologies of the cryptocurrency world, hosting a bitcoin ATM is the process of creating a space in your business premises to host an ATM that facilitates the trade of bitcoin. It is very similar to hosting a regular cash ATM at your store – now picture a situation where your store gives bitcoin investors the opportunity to make transactions right from your store. It can provide your business with a lot of opportunities to take advantage of. In order words, a bitcoin ATM is a machine that enables people to trade bitcoin.

The first-ever Bitcoin ATM was installed in a coffee shop in California. And ever since then, bitcoin ATMs have grown in popularity as interests in crypto blew up. They provide an easy way for anyone who’s interested in bitcoins to buy and sell, as well as withdraw. For those of you wondering what advantages hosting a bitcoin ATM gives your business, we have put together a list of five advantages for you.

Reduction of cash handling cost

Since most of the transactions customers make in a bitcoin ATM usually involves a customer making a cash deposit to buy bitcoin, businesses can take advantage of this by taking the cash from the bitcoin machine and filling it in the cash ATM. This ultimately reduces the cost of handling the cost for the business.

Cross Marketing

If you are operating an ATM machine that serves thousands of customers within your area, many of them will most likely use the ATM at least once a month. A number of them would have heard about cryptocurrency at one point or the other and may have even considered owning some, but were unable to because the process of signing up on an exchange may have seemed quite complicated. Some may not know what platform to trust so they just back away. But with bitcoin ATMs closer than ever, they could make the fantasy of owning bitcoin a reality.

Lower Setup Cost

The setup cost of hosting a Bitcoin ATM can be reduced remarkably, especially if an ATM business owner has already spotted a store or outlet with a lot of visibility and foot traffic. It has all the necessary things for the bitcoin ATM business to function properly, and it will also be easier to get professionals to set up a bitcoin ATM compared to an individual looking to start a standalone outlet.

Transaction Revenue

As a bitcoin ATM owner, you are entitled to receive some income based on the transaction volume. If your business is located in a busy area then you are well-positioned to make some extra income based on transactions made in your bitcoin ATM on a monthly basis.

Advantage Over Your Competition

If your business happens to be one of the few businesses hosting a bitcoin ATM, then you may have an advantage over your competitors. It is really simple. You are offering a service that your competitors are not, and with the rate at which bitcoin is growing, that puts your business ahead as customers who make bitcoin transactions at your store are more likely to return.