The Bitcoin ATM (BTM) market has soared into new levels of growth. Total global BTM installations reached new highs above 14,000 at the start of 2021, and entrepreneurs now quote up to $30,000 a month in transaction volume. The more popular and lucrative Bitcoin (BTC) becomes, the more business owners look to start new cryptocurrency ATM companies.
As with any business, there is a lengthy setup process for any BTM owner. You need to obtain licenses, achieve state compliance, purchase your kiosk, and acquire location real estate. Each task is necessary for the safety and legality of your Bitcoin ATM, but when completed incorrectly, it can spell disaster for your machine(s) and profits.
To help remedy the many setup issues involved with a Bitcoin ATM ownership or placement, ATMMachines has created a new turnkey Bitcoin ATM Ownership program. We facilitate the setup of your BTM business – from the purchase and installation of your Bitcoin kiosk(s) to managing the infrastructure needed for processing all BTC transactions. You can become profitable quicker and with less hassle than if starting from scratch.
Read on to learn more details about the program and how you can start your own Bitcoin ATM company.
How to Own a Bitcoin ATM (The Traditional Way)
The standard method for owning a Bitcoin ATM involves a series of hurdles that limit your revenue and extend setup times:
- Compliance: By law, you must meet all regulatory requirements for Anti-Money Laundering (AML), Know Your Customer (KYC), and any additional financial responsibilities under the Bank Secrecy Act (BSA).
- State licenses: Since a Bitcoin ATM transfers money, it is considered a Money Service Business (MSB) and must register with the Federal Crimes Enforcement Network. Plus, you need to hold any additional state business licenses.
- Hiring a compliance officer: Each Bitcoin ATM owner is responsible for hiring a designated compliance officer who ensures the legality of your machine and reduces your risk exposure.
- Liquidity: To ensure that each customer receives the fiat money or cryptocurrency exchanged on your ATM, you must hold a certain amount of liquid assets of both currencies.
- Hot wallets: To access a cryptocurrency exchange, you must set up a hot wallet and purchase Bitcoin.
- Real estate: For the public to access your kiosk, you must rent or buy the location where you intend to place your Bitcoin ATM.
- Kiosk and software purchases: A Bitcoin ATM can cost anywhere from 3000 to 10000$. Beyond the physical kiosk, you also need software to initiate each transaction request, as well as a payment processing partner.
- Maintenance: It is your responsibility to maintain your machine and manage the security of your kiosk (e.g., set up proper lighting and closed-circuit cameras) to help deter possible theft and ensure long-term performance.
Each of these required barriers and startup costs can delay your BTM’s break-even point by six months and require a significant capital investment.
How to Own a Bitcoin ATM with ATMMachines
To make the entire process of owning a Bitcoin ATM easier for you, ATMMachines designed a unique Bitcoin ATM Ownership Program. It is a set-it and forget-it partnership that eliminates for you the setup tasks involved with starting a Bitcoin ATM Company.
Let’s take a closer look at how the program simplifies the Bitcoin ATM ownership process.
Easy Startup With Less Legwork
When you purchase a Bitcoin ATM kiosk through the ownership program, we provide the shipping, installation, and any additional equipment you might need — all you have to do is select your location. Each machine includes high-level physical security and comes with the required software for fast setup and scalability. If you already have real estate or a store where you want to place your BTM, you can have your Bitcoin kiosk running in a short period.
Access to Our ATM Infrastructure
Through our Bitcoin ATM Ownership program, you can piggyback off our existing ATM services and infrastructure, requiring far less labor and overhead cost.
We manage your:
- Bitcoin ATM Processing: Every BTM needs a processing partner who facilitates the actual exchange of money. With our ownership program, we will execute all BTM transaction processing requests for you.
- Compliance: We provide coverage for any compliance needs, state licenses, and federal registration. The complex regulatory processes to achieve legal status we completed for you — we even provide a compliance officer.
- Armored Vehicle Transportation: Gain access to our preferred freight rates for armored vehicle pickups, with transfers automated once your fiat currency float hits $10,000.
The Use of Our Bitcoin
To save you the hassle and labor involved with obtaining Bitcoin, we use our Bitcoin tokens to manage each of your BTM customer transfers. You no longer need to engage in the complex process of selling and purchasing Bitcoin, nor worry about initiating supply requests as prices fluctuate. We use our hot wallet (so you don’t have to) and maintain any liquidity requirements, ensuring each of your customers receives their exchanged currencies. Save yourself the hassle of initiating each transaction order on a cryptocurrency exchange, along with any associated fees.
Easy Maintenance and Repairs
Machines need upkeep to remain functional. Our in-house technicians service, repair and resolve any problems that may arise as your Bitcoin ATM operates for your clients, and all repairs and equipment are free if they are under warranty. We also provide training once you install your Bitcoin ATM so that you or any staff can operate the kiosk.
The ATMMachines Bitcoin ATM Ownership Program
With every detail thought of for you, the Bitcoin ATM Ownership Program gives you unrestricted access to the Bitcoin Markets without the costs and startup barriers of the traditional method. As your partner, we facilitate the entire setup for a 6% percent fee on your gross transaction fees so that your Bitcoin ATM investment remains profitable with a faster break-even point.
Our fee covers the use of our ATM infrastructure and only applies when you take your fees per customer transaction (your rates can reach between 15-20%). It is a truly end-to-end solution for Bitcoin ATM Ownership.
Are you curious about starting a Bitcoin ATM company and want more information? Contact AtmMachines.com, LLC today to learn more about our Bitcoin ATM Placement and Ownership Programs.