Are Bitcoin ATMs Profitable?
If you’re wondering where and how to get a Bitcoin ATM, it’s probably because you’ve heard they’re profitable. And while we don’t have them available for just anybody to own (after all, who would use it sitting in your house?), we do have a great program for store owners.
We call them hosts … they’re business owners who have a small area (1.9 square feet) of retail floor space available, in exchange for rental fee or profit share.
If you’re a business owner who would like to host a CoinCloud in your store, and profit from it, you’ve found the right place!
What Types of Locations?
We’ve discovered that the locations which work the best for hosting Bitcoin ATMs are those that get a lot of foot traffic, and attract people from a wide geographic origin:
• Convenience stores
• Gas stations
• Souvenir shops
• Shopping centers
• Consumer electronics stores
• Liquor stores
• Grocery stores
• Take-out restaurants
See, if you have a roadside gas station or convenience store, your customers are from all over the place. Maybe from a different part of the city, another city entirely, or even another state. Same goes for souvenir shops, shopping centers, consumer electronics stores and casinos … chances are you’ve got a lot of tourists going through.
Bitcoin ATMs like CoinClouds are great for these locations, because it’s often people who don’t live there that will be buying bitcoin with cash. It will be people traveling, people on the go, and people who look for ease and convenience … as well as some locals, of course.
What Types of Customers?
The other cool thing about adding a CoinCloud to your store is that you’ll have people searching for places to buy or sell bitcoin with cash, and these people will specifically come to your location instead of your competitor. And hosts tell us that while they’re there, customers usually buy something else.
We market your location through a variety of methods to make sure that these people find you. So, you can expect to see an increase in foot traffic, as well as return traffic due to loyalty — both for the bitcoin machine, and for you, the store that provided it.
Liquor stores and grocery stores attract a regular clientele that’s often more local, and these locations benefit from repeat viewing rather than just impulse. Imagine going to a store week after week for your usual supplies, and seeing a machine each time that piques your curiosity. Eventually, you might just try it out (they say it takes 7 impressions before a customer takes action).
So, whether your location attracts travelers, locals, or a mixture of both, you’re a good fit for a CoinCloud.
How Much Work is Involved?
The best part is, this is the simplest, fastest and most profitable way to offer your customers bitcoin in a hands-off way. Rather than having to accept it for purchases or deal with selling it at the register, you can just have a machine that does it all for you — and pays you!
Did we mention, you don’t have to do any of the work? You just provide the space … we install it, maintain it, service the cash, and take care of repairs if necessary. Oh yeah, and we take care of the live customer service, too. All you do is collect your take every month!
Are Bitcoin ATMs Profitable?
We have several ways that you can profit by hosting a CoinCloud Bitcoin ATM. Our hosts are very happy with the arrangement, and we’d be pleased to have a current host talk to you about it. Or you can view our video case studies.
Just fill out the short form on our Host Info page to get started.
Benefits to Hosting a CoinCloud
Here are the main benefits you’ll receive, in a nutshell:
1. Offer More Than Cash
If you have a banking ATM in your store, you might not think you need another machine. But the Bitcoin ATM is completely different — and yet a perfect partner to an ATM. It works in a similar manner, but doesn’t require a bank account or debit card. It lets your customers buy digital currency with cash. So, it won’t take business away from your ATM, but might just increase it if you place them side by side.
2. Be Seen as Cutting Edge
Customers see businesses that offer bitcoin as being cutting edge and modern, so you’ll be viewed in a different light than your competitors. Bitcoin shows no sign of slowing down or losing popularity, so now is the time to get involved if you want to be seen as a leader in your industry.
3. Drive More Traffic
As mentioned above, people will be searching Google for places to find bitcoin, and your store will come up as a recommendation. Customers will actually go out of their way to visit your store instead of a closer competitor — and they’ll likely buy something else while they’re there.
4. Earn More Revenue
Probably the most important benefit to your business is the increased revenue. Not only will we pay you for use of your small piece of retail floor space, but the extra customers you’ll attract will be helping you with increased sales as well.
If you’re interested in finding out more, just let us know.