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Analysis: Six Points to Know Why and How to Start Bitcoin ATM Business

Tue Sep 04, 2018 9:08 am

Why Bitcoin ATM is becoming widespread?
Written BY DOBI

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[b]Overview [/b]

Either you are nobody of bitcoin or an enthusiastic of crypto currency investing, you must be familiar or at least of no strange to Bitcoin ATM or crypto currency ATM.

As is mentioned everywhere, like in this article “Beginner's Guideline: What's Bitcoin ATM and How to Use Bitcoin ATM?”, crypto currency ATM provide cash deposit and withdraw service as well as buying/selling crypto coin with cash by connecting to exchange or other crypto trading platform.

It’s no strange that you see Bitcoin everywhere in USA, like in coffee bar, shopping mall, railway station, etc. Because the cryptocurrency ATM industry is dramatically growing and cryptocurrency and bitcoin ATM is tend to wide adoption.

CoinatmRadar reported over 3500 bitcoin ATMs worldwide with surging increase from 2017. And there are more than 31 manufacturers and over 400 operators worldwide at the mid of August.

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Obviously as crypto currency is on the trend, bitcoin might work as fiat money as we use today. Crypto ATM is becoming prosperous in diversity. The majorities of us are so excited about the Bitcoin ATM.

But do you know where the excitement comes? Absolutely because it has so much practical use to the industry and users.

For your better understanding of cyrptocurrency and bitcoin ATM, here I listed some of the advantages of Bitcoin ATMs.

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[b]Advantages [/b]
1. To bitcoin ATM Uses
  • Convenient:Buy bitcoin or other coins any where easily
Bitcoin ATM works as an alternative of exchanges, provide very easy access for anyone to invest in crypto world. Instead of the troublesome process trading on exchange platforms, users just need to use insert cash and buying directly. No bothers to send driver license, or phone numbers for ID verification.
  • No risk of personal information leakage thanks to decentralization
It’s decentralization. Buying bitcoins anywhere seems the most attractive functions, but its value actually consist in its decentralization with blockchain technology. As it all known that blockchain is anonymous which allows cash to bicoin converting with risk of no bank account or identity credential. Bitcoin ATM doesn’t collect personal information after all. Here is how transaction goes on bitcoin ATM: Cash,ATM, Phone wallet(cold wallet),Trade done
  • Bring blockchain to real life
Most of the majority of us really don’t understand the “encryption algorithm technology keeps our asset safe and the “mining” and “Peer-to-peer” network brings the bitcoin address out in the blockchain world. Nor do we know about the complex k line in digital exchange platform which needs some financial knowledge. This drags the wide application of blockchain technology like what internet does. But bitcoin ATM does help by bringing them into real life. Bring the blockchain or complex digital exchange to daily use. No exchange, no the so cold

2. To Bitcoin ATM business startup
  • Growing Popularity
Growing Popularity means demands which in return boost Bitcoin ATM trading.

The crypto market is expanding. Every day, new investors are learning about the advantages of blockchain technology. This demand is creating a unique opportunity for savvy entrepreneurs looking to position themselves in the market before mainstream adoption. Bitcoin ATMs bring a new level of convenience to the crypto market, by allowing any individual to purchase crypto directly. This is also an increase of cryptocurrency awareness which therefore will boost the whole industry.
  • Low-cost to enter crypto startup world
Some crypto-ATM watcher hesitate to start the business due to the high cost like in software, hardware and maintenance fee, etc. But this is the most cost-effective project in the blockchain world, compared with crypto mining, digital exchange. No much high electricity to mine BTC. Currently, an average cost of one single bitcoin is $4758. No need to hire a lot of staff, no additional hardware, etc. Check out this article if you have no idea what the cost to start up bitcoin ATM business. ( ********)

As it is already known that bitcoin ATM cost mainly comes from hardware, software, connection to hot wallet. Let’s have a look at how bitcoin ATM saves your startup cost:

Bitcoin is purchased from exchange and transformed to Bitcoin ATM. Most bitcoin ATM preprogramed with exchange and you don’t need to stock a hot wallet. This is where the startup cost save. Because most bitcoin ATM manufacturer also have business in digital exchange, wallet, etc.

Another one is that compared with other sectors in blockchain world, the Bitcoin ATM business is the most low-cost and most suitable for you to get started in crypto currency. To start an exchange, you need ****; as for mining pool, the electricity is horribly high. It’s reported on news that to mine. One BTC cost $1900 electricity. This is a huge amount which is not the norm of us can afford.
  • Direct Access to ICOs
In the crypto sphere, there is many ICO demand from token projects. Bitcoin ATM provide access to purchase BTC, ETH and LTC, etc. Besides directly connecting to exchange, token companies would love to list their coins in bitcoin ATM for the sake of ICO as well as branding. Eventually, the access to ICO finally add more business and trading on your bitcoin ATM so as to earn more liquidity and profit.


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Summary
[/b]
You must have founded that there’s little mention on its disadvantage. I personally don’t see any. If there has to be, then it’s the fees that everybody complaints about. But I believe people would willing to buy convenience even with 10% fees. Just like the tradition ATMs do. It’s a time problem.

From the user’s side, bitcoin ATM is convenience and easy to get in real life; From the Bitcoin ATM business startup, it’s low-cost and its indirect ICO access provide the ease to entering crypto world.

Overall, crypto currency ATM helps solve the problem of; and the adoption of cryptocurrency and blockchain by bringing it to real life. Everybody can use crytocurrency and everyone knows and habited to use it just like the internet. This is the real essence of crypto currency.

Only the concept solve problem and be widely used that lasts. And only you can decide if a Bitcoin ATM is the right or not.

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[b]DOBI ATM is an excellent software developer and hardware manufacturer.[/b]
Twitter: https://twitter.com/AtmDobi
Website: http://www.dobiatm.com/dobiatm.html

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[b]Related Articles:[/b]
Beginner's Guideline: What's Bitcoin ATM and How to Use Bitcoin ATM? http://bit.ly/2MEdRw8
DOBI ATM-the world best bitcoin ATM Manufacturer http://bit.ly/2OFet1Y

handycash
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 70
Joined: Thu Mar 01, 2018 4:04 pm

Re: Analysis: Six Points to Know Why and How to Start Bitcoin ATM Business

Tue Sep 11, 2018 11:13 pm

While there is no mention of disadvantages, there is also no mention of the cost, and equipment needed. Do you have a written document on the setup process?

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