Is It Beneficial To Have A Bitcoin ATM Machine At Your Store?

With everyone wanting a slice of the crypto pie these days, businesses are making a beeline to install Bitcoin ATMs in their stores. Companies like Overstock.com and Microsoft had already started embracing Bitcoin payments. Others do not want to be left behind, especially after Tesla buying $1.5 billion BTC and Elon Musk rallying behind the Bitcoin.

Interestingly, businesses can enter the crypto space in another way too; where they neither have to create their own coins nor accept Bitcoins. This is by hosting Bitcoin ATMs inside their stores. The first of its kind was created in 2013 and, since then, 3000 and more Bitcoin ATMs have been set up worldwide. The main purpose of setting up Bitcoin ATMs is to enable users to buy and sell BTC using cash.

Benefits you can enjoy when you have a Bitcoin ATM in your store

Bitcoins are not physical coins and you cannot withdraw these from a Bitcoin ATM in the same way as you can withdraw currency notes from a regular ATM. Rather, Bitcoin ATMs offer customers an online platform where they can easily convert their cash into BTC and vice versa. They act like currency exchange kiosks. Another significant difference between Bitcoin ATMs and regular cash ATMs is that the former needs dual-factor authentication. So, you need to confirm your contact number through an SMS and then verify your identity through face scan, fingerprint scan, or palm vein scan.

How can Bitcoin ATMs help your business?

Attract more customers: As more and more people learn of the Bitcoin and its benefits, they will be on the lookout for places where they can access this service easily. So, when you have such customers visiting your store, you can consider introducing a BTC ATM facility inside your store to boost the traffic further. For instance, if you own a convenience store that is frequented by hundreds of customers every day, you can enjoy a significant advantage with an in-store Bitcoin ATM.

Boost business credibility: When you have an easy-to-access Bitcoin ATM in your store, you will find that it does wonders for your reputation. It shows your commitment to customer satisfaction and business development, thereby building trust and credibility. Customers appreciate the flexibility of being able to pay using either fiat money or Bitcoins and they spread the word. A Bitcoin ATM in-store offers your store that extra edge that helps it to stand out from amongst its competitors.

Keep up with the latest technological trends: Bitcoins, and the crypto world at large, have revolutionized the way our financial systems work. While critics kept arguing that the Bitcoin bubble will soon burst, the crypto proved them wrong as it continued to survive, and is not likely to disappear anytime soon. So, if you can offer Bitcoin ATMs to your clients, you can show them that your business has what it takes to embrace the latest technological advancements and is ready to embrace what the future holds.

Increase revenues: With a Bitcoin ATM you can make money. It is possible to earn revenues when you own and run the machine on your own; the profit comes from transaction fees charged to customers. If you decide to sign up with a Bitcoin ATM service provider, you can get paid by the provider.

If you consider these advantages that Bitcoin ATMs offer it makes sense to have one in your shop and make hay while the sun shines.