With the increase in adoption of Bitcoin and other cryptocurrencies, businesses are scrambling to figure out how they can get involved. Some businesses have started accepting Bitcoin as a form of currency to purchase their products, while others have even developed their own coins, also known as ICOs, to help raise funds for their businesses.
However, another way that businesses have been able to enter the crypto world without having to accept Bitcoin or create their own coin is by hosting a Bitcoin ATM in their location(s). Since the first Bitcoin ATM machine was introduced in 2013, more than 3,000 machines have been placed in various locations all over the world. Bitcoin ATMs allow users to buy and sell Bitcoin with cash.
In this blog post, Coin Cloud discusses how business owners can host a Bitcoin ATM in their location, and what the benefits of hosting a Bitcoin ATM are.
When deciding whether or not to host a Bitcoin ATM at your location, there are two different factors that you should consider:
If you are new to the world of Bitcoin, we do not recommend the first option. This can be a very time-consuming and money-draining endeavor. Not to mention, the number of regulatory hurdles that you’d have to jump through can drive anyone crazy.
With that said, we recommend that you partner with a company who are experts in this field. By working with a company that understands this space, can finance the machine and has the support team in place to properly operate it, hosting a Bitcoin ATM will be a stress-free endeavor for your business. At Coin Cloud, we provide live support for all of our machines nationwide to ensure that business owners are able to service their customers with ease.
When choosing from the dozens of Bitcoin ATM companies out there, be sure to pick a company that's trusted and has proven their capabilities. Here at Coin Cloud, we have been trading Bitcoin since 2014 and boast the largest network of two-way Bitcoin ATMs in the world.
1. Offer your customers more than just cash. If your business already offers its customers traditional cash ATMs, expanding your offering to include Bitcoin ATMs is just another aspect that will set your business apart from competition. In today’s competitive marketplace, business owners are always looking for ways to differentiate themselves, and including a Bitcoin ATM is a great way to achieve that.
2. Drive more traffic to your store. What more does a business owner want than an increase in traffic to their location? We’ll answer that for you: nothing. With the demand of Bitcoin growing each day, consumers are increasingly looking for convenient ways to buy and/or sell Bitcoin.
So, in order to avoid the slow verification speeds that online exchanges have and to be able to trade using cash, more and more customers are using Bitcoin ATMs as their preferred device to buy and sell Bitcoin. This means that by hosting a Bitcoin ATM, the likelihood of someone coming to your shop that may have never visited in the first place increases exponentially.
For example, imagine you own a gas station and are interested in hosting a Coin Cloud Bitcoin ATM. There is someone looking to buy and sell Bitcoin, but they don’t want to deal with the long wait times found on online exchanges, so they run a quick Google search and find that your gas station hosts a Coin Cloud Bitcoin ATM. That person takes their cash and goes to your location to process their transaction. Upon completion of the transaction, they remember that they needed to buy some beers for Friday night’s festivities, so they purchase a 6-pack of Coronas on the way out. In this instance, a person who previously may have gone to the grocery store to buy beer has now purchased from you simply because you had a Coin Cloud Bitcoin ATM safely secured in your store.
3. Align your business with the future. Bitcoin and cryptocurrency are undoubtedly taking the financial world by storm. Since its inception, Bitcoin has continued an upward trend and it is not stopping anytime soon. Companies that join in on the craze now will reap the benefits in the future. By offering a Bitcoin ATM, businesses will establish themselves as a reputable brand that understands the future and acts to ensure that they are well equipped for what is to come.
4. Increase your revenue. Last but not least, hosting a Bitcoin ATM will make your business money. Depending on the method by which you choose to host a Bitcoin ATM, the revenue can be earned in two different ways. One, if you decide to own and operate your own machine, the revenue will be earned via the transaction fee. However, as mentioned earlier, we recommend you partner with a company that already has the infrastructure in place to put an ATM in your location for you. It's a lot easier.
And two, Bitcoin ATM companies, like Coin Cloud, will pay businesses that host an ATM a monthly fee for the space used. In addition to the fee, hosting businesses will be assigned a point-person to service the unit in case anything goes wrong.
Lastly, all customers who use your Coin Cloud Bitcoin ATM will have live support to help with any issues that may arise. This allows you, as a business owner, to sit back, relax and collect money knowing that your Coin Cloud Bitcoin ATM is running smoothly.
To host a Coin Cloud Bitcoin ATM, please fill out this form and one of our specialists will contact you shortly.
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.
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