Did you know that Bitcoin ATM installations have gone up to almost 27,000 across the globe in the past year? This shows how Bitcoin ATMs are gaining worldwide acceptance. It also proves that more and more people are now showing an interest in transacting cryptos. What easier way to do this than a Bitcoin machine?
How to host an ATM in-store
If you have been thinking of ways to host an ATM in your California store or in client stores, it is perhaps the right time for it. Unlike what many people may think, installing a crypto ATM isn’t that hard. Here are some easy steps to get it done:
- If you wish to host a Bitcoin ATM in California State, you obviously need to know the regulations concerning ATM operations in that state. For instance, some places will demand an MSB or Money Service Business registration, license/permit before you can start running an ATM.
- To host an ATM you must comply with all the necessary regulations; else, you cannot sustain this business. Since rules can differ from state to state, it helps to consult professionals about legal regulations.
- For operating a crypto ATM, you must have a bank account. This account is used for depositing cash from ATM machines into exchanges. This account then furnishes the wallet with Bitcoins and the coins are finally sent to buyers. Some banks may not be keen to work with crypto businesses; so to host an ATM, you need to know which banks to approach.
- You should ideally have cordial relations with many banks. This ensures that you do not have to discontinue the ATM in case any bank stops working with you.
- Choosing the right location to host an ATM is by far the most important factor in its success. You need to identify places recording high footfall because it is the transaction volumes that determine how profitable your business is. When you own a business with a physical outlet, you could consider installing a crypto ATM inside your store. This helps to keep overheads at a minimum and you can get more customers to your store.
- For those who don’t have brick-and-mortar stores, it may be profitable to look for businesses that are keen to have ATMs in-store. You can lease the office space; this gives you a place to host the machine and the owner of the shop can earn monthly rents from you.
- Running an ATM in-store must be lucrative and not stressful. This is why when choosing the machine; you should not opt for the cheapest model available. You need to choose one which is scalable and can adapt to your future business needs. If you are planning to reach out to an operator, make sure they offer superior hardware, quality software solutions, and round-the-clock customer support.
This is probably why you will see Bitcoin ATMs coming up in cafes, convenience stores, small retail outlets, and even restaurants. So, hosting a Bitcoin ATM need not be as difficult as you think. Businesses can consider hosting it independently but that would mean looking after its ongoing maintenance. The best option for stores is to look for reliable ATM operators in their area.