Tips to Host a Crypto ATM in Your Chicago Store

 



Hosting a Bitcoin ATM machine inside your store in Chicago can be a good idea. You will find these machines have become hugely popular in the last couple of years. As more and more stores start accepting crypto payments, businesses are realizing the benefits of hosting Bitcoin ATMs. 

So, if you are looking for “Bitcoin ATMs near me” on your smartphone, you will not be disappointed. Chicago shops are making a beeline to install these machines. It is advantageous as store owners will now get more customers and this means higher revenues. But, installing a crypto ATM inside the store is not simple; it takes much research and hard work. Besides, not every business will gain by installing an ATM. These are profitable only if your store is in a location that is frequented by large numbers of people, like the Chicago downtown or inside a city mall.

Important tips on how to host a Bitcoin ATM in your store

Decide how to set up a Bitcoin ATM

  • One of the first things is to make sure your business offers the perfect placement for a Bitcoin ATM. This is something that the ATM operator will need to make sure before installing a machine. For the owner, this is a cost-effective option and he needn’t worry about its ongoing maintenance or repairs.

  • Alternatively, you can choose to buy and install a machine in your store in Chicago. Here, you will be responsible for maintaining it independently. This, of course, demands a heavy startup cost. It is a good choice for businesses that do not have the placement advantage. 

  • Some ATM operators even extend partnership and leasing options. This is halfway between maintaining an ATM independently and signing up with a crypto ATM operator. Here, you must pay rent or fees for installing the machine. Costs are lesser than paying upfront for a machine. Moreover, you can enjoy a portion of the fees collected from customers using the ATM. This option is best suited for businesses not having enough funds to get a machine and not enjoying location advantage.

Calculate what your earnings can be

National Cash Systems, an ATM solutions provider, states that a Bitcoin ATM machine is used about 300 times in a month on an average. This shows that you will probably earn money by installing a machine in your Chicago store. But you need to figure how much extra money you can make to see whether the effort is worthwhile. When you have a placement advantage this is a safe option because you can be sure it will be used. But for businesses who buy or lease ATMs, this calculation is slightly more complex. You have to keep a tab on the number of customers walking in, whether they use the machine or choose to pay by credit cards.

Choose the right model

When choosing an ATM, you have to consider features like aesthetic value, screen type, lock security, and vault size, etc. Before choosing a vendor, shop around first in your area. If you choose to install or rent a machine, you need to consider ongoing maintenance costs. Besides, you must keep the vault well-stocked on a daily basis.  it may be a good idea to increase your online presence so that people find your store when they search for a “Bitcoin ATM near me”.

Cryptobase ATM can make your task of hosting a Bitcoin ATM in Chicago far simpler. To host, you simply have to provide the space; everything else will be handled by Cryptobase ATM.




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