Around the world cryptocurrency adoption is booming. As this trend continues, more and more new opportunities are becoming available for people who want to get involved in the space.
One of these is hosting or operating Bitcoin ATMs.
What is a Bitcoin ATM?
A Bitcoin ATM is an automated teller machine that allows people to easily buy and sell bitcoin, and other cryptocurrency’s, in exchange for cash.
Though there are online options for buying and selling cryptocurrencies, some people that are new to cryptocurrency or who are less tech savvy find comfort in being able to use a more traditional ATM-style machine.
One of the biggest opportunities in cryptocurrency right now is hosting or operating Bitcoin ATMs. To get involved, businesses have the choice to either provide space at their location as a “host” or to own and control multiple machines as a “operator”.
5 Reasons to Host or Operate a Bitcoin ATMs
Set your business apart
Bitcoin ATMs are still in the early part of their adoption. Therefore, by hosting or operating these machines you are most likely providing something that your immediate competition isn’t. If you’re the only Bitcoin ATM host in your immediate area, you will most likely get recurring customers that come to your location.
Drive more traffic to your business
No business wants to miss out on an opportunity to bring in more traffic. With the demand for bitcoin increasing, consumers are always looking for new, convenient ways to buy and sell bitcoin. Chances are, those using your Bitcoin ATM represent a new demographic that your business hasn’t seen.
Increase net revenue.
With more foot traffic, your business can make more money. However, the amount of your additional revenue depends on whether you operate or host a machin
- If your business decides to host a machine, your additional revenue will come from the operator who rents space for the machine in your store and pays you a monthly fee. An example of a top-tier operator who pays businesses to host their machines is Hippo Kiosks LLC.
- On the other hand, if you decide to become an operator yourself, you can earn revenue from the fees incurred in every transaction. Operating a Bitcoin ATM has the potential for higher revenue; however, it will take more time and energy for you to run the business. We recommend doing research to decide whether hosting or operating Bitcoin ATMs makes the most sense for you and your business.
Providing additional marketing opportunities.
When you host or operate a Bitcoin ATM, you will have the ability to post your store’s location on different websites. Customers use Bitcoin ATM locator websites to find machines near them. Once a machine is placed in your business, you will be able to market your location through these websites. All of this will lead to more traffic and attention for your store.
Align your business with the future.
Cryptocurrency is growing all around the world and taking the financial industry by storm. When a business hosts or operates a Bitcoin ATM, they are showing customers that they are keeping up with current trends and are ready for the future.
To learn more about getting started with Bitcoin ATMs, check out our article How to Start a Bitcoin ATM Business. You can also contact us here to speak with an agent regarding any questions you may have.
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