Are you keen to earn additional income through cryptos? For one, you could start trading Bitcoins or investing in these. Another safe and easy way to take advantage of the crypto craze is to host an ATM in your store. Doodle Folks
Sounds rather simple, right? But, there are some important things one needs to be aware of before installing a Bitcoin teller machine. Site
Important things to remember when hosting a crypto ATM in Illinois:
So, if you have been thinking of getting your feet wet in the Bitcoin ATM business, now may be a good time to do so. People prefer crypto ATMs as these provide them with a quick, hassle-free, and secure way of transacting Bitcoins. Doodle Folks
As the Bitcoin boom continues, local operators are coming up. They are keen to build wide networks of machines to be installed in high-traffic locations. This means you can now tie up with reputed ATM operators in your area to set up your own ATM in-store. Site
Bitcoin ATM in Illinois manufacturers will design and sell the kiosks which will be maintained and run by operators. As a business owner, you can offer installation space for these machines. Site
- One of the most important things to consider is the security aspect. ATMs are expected to offer a far more secure way of buying Bitcoins. But, there’s always the threat of having to hold huge volumes of fiat currency. Without this, they may not be able to cater to their users.
- The machine has to be visible for people to walk up to it in order to use it. it has to be set up in a manner that establishes a synergy with your store and the kind of traffic that it gets. For instance, you cannot keep it in a poorly-lit corner of your shop where no one will spot it. It’s probably best to have this near the cash registers to draw the attention of buyers.
- Without a lack of regulatory oversight, Bitcoin thefts can become a reality. There have been issues with a certain Robocoin machine receipt printer which led to siphoning of funds. Doodle Folks
- Customer support can be an important criterion for installing a Bitcoin ATM. For a busy store where there aren’t enough employees to help customers out, this can be a problem. If you start to allocate staff to help users make crypto transactions through an ATM, your main business revenue may be jeopardized. You need some hand-holding for your clients using Bitcoin machines for the first time. Site
- Installing the machine inside a store is harder than you can imagine. A Bitcoin ATM can be very heavy and demands special equipment for installation. It’s probably advisable to get additional surveillance for the units to prevent thefts. Site
- Besides hosting the machine in-store, you will have to bear power costs and insurance costs. These are of course added expenses for which you must have a rental contract with your operator. Doodle Folks
Understand each of these factors before you jump into the Bitcoin ATM business. Once you know what you are expected to pay for, you will be able to make profits. Site