To sign up for our daily email newsletter, CLICK HERE
Bitcoin ATMs business in 2022
Bitcoin ATMs network expansion in 2 years (US and worldwide)
ATMs that can be used to buy cryptocurrency are becoming more and more widespread in the U.S.
If during the last five months of last year there were about 10 thousand bitcoin ATMs, in January their number sharply increased (they have already become more than 28 thousand). Today there are more than 30,000 active bitcoin ATMs around the world.
The most aggressive ATM operator networks in the U.S. are rapidly increasing their presence by taking over the best bitcoin ATM locations where competitors have not yet leased space and installing their equipment there.
A large number of stores and gas stations are equipped with brightly lit bitcoin ATMs.
Reasons for the popularity of bitcoin ATMs in the US
It is possible for customers to buy or sell digital currency at any time, and in some cases to exchange it for cash.
People prefer ATMs to online transactions for a variety of reasons: some get cash, others don’t have bank accounts, still others send money transfers abroad, and some simply prefer anonymity.
In today’s unstable world, where currency rates change depending on the political situation in the world, it is useful to have an alternative source of payment and finance that is always at hand. This is exactly what people get when they use cryptocurrencies and ATMs to exchange them.
Bitcoin ATMs statistics by country:
Is the bitcoin ATMs business a profitable one in 2022?
How exactly does a bitcoin ATM owner make money?
The owner recovers his initial investment costs from:
Every ATM user will pay a direct fee on each transaction. The vendor will earn approximately 1% to 4% as the profit margin on the transaction surcharge fee.
The ATM user could pay commission fees as high as nearly 8% to 10% on each purchase and 6% on each sale.
- High foot traffic to stores
A BTC kiosk placed in an area with high foot traffic could have an average of $30,000 in transaction volumes each month. Consequently, an operator could earn $3,000 in gross monthly profit. You should know that to earn such amounts the location should be good and also it takes some time for a new business to take off.
Conclusion
Despite the fact that competition in the bitcoin ATM business has grown significantly over the past few years, there is still plenty of room for new companies and startups in this area. Cryptocurrencies have shown their stability, many have buried them many times already, but in times of pandemic, political instability it is a great means to both save your finances, and to help loved ones and relatives who are far away, a way to transfer money to another country.
So now, in 2022, these means of financial payments – cryptocurrencies – are only gaining in popularity. Many people are starting to use this payment tool more and more. This means that the need for supporting infrastructure, which could include crypto exchanges, crypto ATMs, crypto wallets, will certainly grow. If you want to learn more about starting your own profitable business on crypto ATMs – go to Bitcovault crypto ATMs website – this company has been manufacturing, assembling, setting up and selling its own bitcoin ATMs since 2017, and knows in the smallest details the specifics of running this business.
