Now is your chance to get in on the emerging cryptocurrency ATM market as a bitcoin ATM operator. As of March 2015, 119 bitcoin ATMs had been installed in the U.S., according to Coin ATM Radar. But by 2016, that number is expected to be in the thousands. As the market grows, your income can grow with it.
Bitcoin ATMs offer an efficient and secure way to buy and sell bitcoins. For those new to cryptocurrency, ATM Marketplace, an ATM industry resource, has released a 40-page guide on bitcoin ATMs that explores every aspect of the business opportunity. The report is titled, “Bitcoin ATMs 101: Opportunities for the IAD.” (IAD stands for independent ATM deployment.) The guide explains all you need to know about bitcoin ATMs, including: bitcoin basics, issues and types of bitcoin ATMs.
The guide also summarizes ATMs from eight of the largest bitcoin ATM manufacturers: BitAccess, BitXatm.com, Coin Outlet, General Bytes, Genesis Coin, Lamassu, Robocoin and Skyhook. It also summarizes the different ID verification processes.
For existing ATM operators, bitcoin offers an opportunity to generate additional revenue streams at their ATMs by simply installing bitcoin software, allowing them to provide bitcoin in addition to traditional currency.
The income potential for bitcoin ATMs is quite high. Bitcoin transaction fees for buying and selling at bitcoin ATMs is six percent. In addition to transaction fees, operators can make money on currency “float,” where bitcoin operators can sell bitcoin at a higher price than they paid for it.
According to the guide, prime bitcoin ATM locations are reporting monthly transaction volumes ranging from $70,000 to $300,000. Some operators have been covering the cost of their machines in three to nine months.
If you think bitcoin ATM operating sounds like the right business opportunity for you, download the guide for free here.