It may sound attractive to run your own bitcoin Auto Teller Machine (ATM). It’s a business opportunity. However, it requires immense efforts, deep knowledge of cryptocurrency, and heavy investment in legalities, such as getting a legal license, compliance policy, and more. In addition, you must invest in buying the machine, installing it, and maintaining it.
Not so soon. There’s a cheaper option. Instead of running your own machine, which in itself is a separate business, why not explore your nearest bitcoin ATM operator? Approach them for a collaboration. You could use their machine in your space. This is ATM hosting. This saves you from all the hassle of investment and installation. You also come under the legal umbrella.
Operators of bitcoin ATMs in Illinois take care of the transportation, installation, and maintenance of the machine. These operators have established businesses. They are often on the lookout for profitable locations for machines. You simply need to submit a request by entering your name, email, business location, and other such details. The operator would contact you if they find your location lucrative.
Top locations for crypto ATMs
- Restaurants, eating joints
- Café, coffee shops
- Shopping malls
- BTC embassy or company office
- Food store, supermarket, deli
All of the above are high-traffic commercial places. People visit here almost daily. So, chances are high they would visit BTC ATM.
If your business is in one of these places, you must not lose the golden opportunity of hosting an ATM.
Types of ATM
BTC ATMs are broadly classified into two:
- One-way: They allow only buying
- Two-way: They allow buying and selling
As per a report, about 42 percent of all crypto ATMs are two-way, while the rest are one-way.
According to operators of crypto ATMs in Illinois, at present, people across the globe are fervently buying bitcoin. About 90 percent are buyers. Only 10 percent are sellers. However, this isn’t always the case.
In case of a big price fluctuation, like the one that happened in October 2015, user behavior changed drastically, with a huge number of people selling. The ratio of buy to sell became 50:50.
There is no hard and fast rule when it comes to cryptocurrencies. It is wise to have a machine that allows buying and selling. Why lose on the volatile market?
When it comes to bitcoin, it can sometimes be a roller coaster ride. So, you must be prepared for both. That’s why experts consider this a high-risk investment. However, there is hardly a risk for businesses hosting ATMs. On the other hand, they can earn some extra bucks and also give their business a boost.
With a spurt in the ATMs in the US, it is wise to think of hosting a bitcoin ATM. Cryptobase ATM can help you do that. Please visit the website for more information