By now, the word cryptocurrency has been said millions of times. What seemed niche and foreign only a decade ago has become one of the most popular and frequently traded items. For this reason, many businesses are installing Bitcoin ATMs worldwide to provide a place for customers to buy and trade cryptocurrencies.
What Is A Bitcoin ATM or BTM?
A bitcoin ATM (sometimes called BTM) is an ATM where customers can trade their money for cryptocurrency. While cryptocurrency is entirely virtual, some customers might feel more at home using an ATM to manage their crypto transactions. Because there are no physical banks that provide cryptocurrency, an ATM at a business can act as a physical location for customers.
Benefits of Bitcoin ATMs for Your Business:
First and foremost, having a Bitcoin ATM is like having a real ATM. You are providing a service for your customers. How many people have gone into a shop to quickly get some cash and then bought something while they are at the shop? By offering a Bitcoin ATM, you are also providing something rare. A similar thing was seen with EV charging stations for fully electric vehicles. By providing a charging station next to a business, the people who own these vehicles have to go to your business to charge the vehicle. Similarly, by being the only business in the area with a BTM or Bitcoin ATM, you are providing something wholly unique to your community.
As cryptocurrency popularity continues to grow, having a physical spot where people can trade and manage their crypto transactions is going to become more valuable. An increase in foot traffic in your business can help increase revenue for your other products or services. There are even some marketing opportunities. Companies that provide BTMs will often advertise locations where their BTMs are located. Unlike an ATM, BTMs are new and rare, so it is possible that if someone is looking for a BTM, they will likely go online and find the locations closest to them that have a BTM available.
Combining an ATM with a BTM For Your Business
Another benefit of having a BTM is having it in conjunction with a traditional ATM. Because people will use cash to buy crypto, the cash from your BTM can be used to refill your ATM. This can help decrease your dependency on a bank to fill your ATM.
Contact New York ATM For BTM Installation & More Information
If you are interested in installing a Bitcoin ATM at your business location, our experts at New York ATM would be happy to help. Give us a call today or fill out our online contact form to learn more about Bitcoin ATM installation services.