When you think of Bitcoin, you typically don’t think of running down to the corner store and cashing out some of your cryptocurrency or loading up when the original virtual currency is at an advantageous low. However,a handy Bitcoin ATM machine may be coming to a corner store near you. With over 4000 Bitcoin ATMs worldwide – more than half of them in the United States – cryptocurrency traders are finding the machines as a secure alternative to hackable computers that are vulnerable to ransomware and other security issues. Hackers like the cryptocurrency because of its relative untraceability and high salability, with millions of dollars’ worth being trafficked.
Should You Buy a Bitcoin ATM Machine?
The first inclination when seeing a new opportunity is to get in on the ground floor. Unlike traditional ATMs where a surcharge is added onto the transaction, Bitcoin ATM operators earn an average commission of 5.5% per transaction is possible to make anywhere from $1000-$3000 per month. People trading big coin on ATM machines may make more frequent transactions than those who are merely investing and holding. The machines themselves can cost as much as $15,000 on the high-end, and around $1000 on the lower end.
Naturally, the higher-end model has more features that make it more attractive to power users while the lower end model is simple and often only features a single type of transaction. Another expense is delivery, taxes, servicing, and installation charges that can drive up the cost. Remember, these machines need to be topped up with cash, and unless you are using a service, you may be tying up even more capital.
The Big Advantages for Your Location
Draw customers to your business when you buy a Bitcoin ATM machine. Most people know to take basic precautions when using an ATM, so having a Bitcoin ATM in the store isn’t going to cause any more or any fewer security risks than currently exist. There are already widely publicized reports that hackers are advertising a script for hacking Bitcoin ATMs, though the script seems oriented to disconnecting the ATM from its network and causing it to dispense its cash cassette instead of cryptojacking. However, if the script were legitimate, the news would be full of cash-spitting Bitcoin ATMs – so one must conclude that this is a scam. By keeping your store well lit, with adequate surveillance, people will feel safe enough to conduct their transactions in your store.
It’s best to select a reputable manufacturer connected to a reputable exchange. Most crypto traders know which exchanges are and are not legitimate. Many of the same companies that offer regular ATMs also offer Bitcoin machines as well. It’s not going to make you rich overnight, but as word gets around that you have a Bitcoin machine on your premises, it will draw people into the store and provide you with additional cash flow in the form of commissions on each transaction, and the money people spending your place of business.