Looking for a profitable business venture to start this 2019? While the list will be endless, one that should be on your radar is a bitcoin ATM. Much like a regular ATM, it allows for the processing of cryptocurrency transactions, enabling users to buy or sell bitcoins outside of a traditional online exchange. That said, read the rest of this post and we will list down some of the compelling benefits that can give you reasons to consider it as an entrepreneurial venture.
Before we start, visit https://www.coincloudatm.com/ to know more about bitcoin ATMs and learn about their potential.
The Market is Growing
One of the best things about a bitcoin ATM is that it continues to grow in terms of popularity. In 2013, Forbes wrote about the first real bitcoin ATM. Now, there are more than 4,000 bitcoin ATMs around the world and the number continues to grow. This is a response to the growing demands in the global market. Because of this, there is profit potential. Nonetheless, you have to consider the demand specific to the area where you plan to put up the business.
Users Love Convenience
Another benefit of bitcoin ATM is that it offers a convenient platform for people to conduct bitcoin-related transactions. They do not need to submit any personal or bank information, as against using an online exchange. In the case of most providers, they also have a convenient bitcoin ATM locator. You can manually input your location, or it will be automatically detected, and in turn, you will be given a list of the ATMs that you can access.
Minimal Maintenance Required
With a bitcoin ATM, not a lot will be required on the business owner side when it comes to the maintenance of the equipment. You can just leave it in one corner and allow it to earn in a passive manner. To add, depending on the company providing the ATM, they can also provide the maintenance services, which means that the upkeep of the machine is not a thing that you have to worry about.
Consumes Minimal Space
The space-efficient design of a bitcoin ATM is another reason why it will make a good business idea. There is no need to have the luxury of space to start a profitable business. In fact, it is best for existing businesses with a bit of a space to spare. Liquor stores, restaurants, petrol stations, and convenience stores are just some of the places where you can put a bitcoin ATM.
Drive Traffic to an Existing Store
Having a bitcoin ATM is like hitting two birds with one stone. More than being able to earn from the ATM itself, you are also driving traffic to your establishment where the ATM is located. For instance, if you have a restaurant, this means that the person who is making a transaction in the bitcoin ATM can turn into a potential diner.
In sum, with the things that have been mentioned above, it is pretty much clear that hosting a bitcoin ATM is a good business idea. There is a potential for profitability, especially when you choose the right provider.