With Bitcoin ATMs hitting a world-wide count of over 10,000, many people are asking, “How do I get a Bitcoin ATM?” And while there are several options for doing this, you might find hosting one is a better value proposition.
You can buy a new machine on bitcoin community forums and sites, as well as used BTMs for a bit less money. And on eBay, you can sometimes find a used or refurbished countertop unit.
These range in price from a few thousand for a basic countertop buy-only machine to well into five figures or more for a full-sized two-way machine. The used or refurbished machines typically sell for close to the same amount as the brand-new ones.
So, the good news is, Bitcoin ATMs hold their value very well. The bad news is, it’s quite the financial outlay, and if you don’t have a public location to put it in, you’ll need to rent retail space somewhere.
You will also need to take care of the licensing and registration on both federal and state levels so you don’t get charged with running a non-compliant BTM (this is a felony that comes with large fines and possible prison time of up to 30 years).
Most retail business owners find that a more profitable model is renting out a piece of floor space to an established Bitcoin ATM company, like Coin Cloud. This way you don’t have to buy the machine, there’s no upfront expense, and you don’t have to worry about licensing, compliance or cash handling.
All you need to host a Coin Cloud machine is 1.9 square feet of retail floor space with an accessible power outlet. The rest is 100% done for you. We deliver the Bitcoin ATM to you, set it up, get it working, and provide all the tech support, maintenance and armored cash-handling services.
We pay you rent for the space and promote your location on Google and across social media. This way you get new customers who come to your location looking to buy or sell bitcoin, and end up shopping with you while they’re there. So you get extra foot traffic and several streams of extra revenue. Experience has shown a 70% month-to-month customer retention rate.
To find out more or start the process of hosting a Coin Cloud BTM, see our hosting info page.
Keep in mind that only Coin Cloud offers a national network of 100% two-way machines, which is a premium user experience in this industry. Our machines are easy to use for customers, and our customer service and support are best in class, all of which reflect well on our retail partners.
No matter which option you choose, bitcoin is the future of money, and offering it to your customers is a great way to be seen as cutting-edge and tech-savvy.
Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.
Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 4,500 locations nationwide, in 48 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell over 40 cryptocurrency options with cash.
When You Buy $150 or More at Any Coin Cloud DCM
Use promo code COINCLOUD at the machine
Enter your email for updates, promos, and more ...