The year was 1967; it was a Saturday. Engineer John-Shepard Barron was in the bath. He was having a soak after missing his bank’s open hours for the day.
When a big idea suddenly came to him; a cash vending machine that would be available no matter the hours of the bank. The ATM that we are so accustomed to today was born.
Or something to that effect. Historians disagree about the specifics. But the fact of the matter is the ATM hit the scene in the 60s and transformed the way we bank.
Today, bitcoin ATMs are doing the same thing. Read on to learn more.
The latest data from Coin ATM Radar indicates there are well over 10,000 bitcoin ATMs in use around the world. The vast majority are in the United States.
In fact, the number of bitcoin ATMs has grown 177% over the last year.
The current numbers and most projections point to continued growth. So if you are thinking about hosting a bitcoin ATM at your business, it’s a sound idea.
Benefits of Bitcoin ATMs
Why would someone want to use an ATM to buy bitcoin anyway? Here are the top benefits and supporting reasons to host a bitcoin ATM in your business.
- Speed – ATMs, by their nature, are fast, bringing the bitcoin sum into your wallet in a matter of minutes. The old-school online exchanges take time to verify and complete transactions.
- Availability – With over 13,000 bitcoin ATMs in the United States, purchasing bitcoin is easier than ever!
- Familiar Method – Cryptocurrency is a strange thing for many people. And many of the steps to purchase it serve as road blocks for the non-tech savvy. Being able to purchase bitcoin from a familiar outlet is worth its weight in gold, or bitcoin.
- Security – Bitcoin ATMs are very secure. In order to make a transaction you need a digital wallet. Without your digital wallet key no one gets in. Only you can access your cryptocurrency or complete a transaction.
Bitcoin ATMs Are Good For Business
According to Forbes, the average industry fees for bitcoin ATMs fall between 10 and 15% for operators. With the average volume per machine falling at about $12,500, or more, daily.
Depending on your location and traffic, your bitcoin ATM could pay for itself in a matter of months. Leaving you to rake in the profits.
The best part? Literally anyone can buy a bitcoin ATM. There are several different models and brands to chose from.
Remember to choose a crypto-friendly bank and invest in additional legal support that understands cryptocurrecies when installing your new bitcoin ATM.
Invest In a Bitcoin ATM Now
It’s no secret; many people wish they had jumped on the crypto bandwagon years ago. If you too missed out, bitcoin ATMs could be your way in.
Bitcoin ATM revenues are a relatively low-risk way to dip your toes into the cryptocurrency current.
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