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Bitcoin ATM (abbreviated as BATM) is a kiosk that allows a person to buy Bitcoin using an automatic teller machine. Some Bitcoin ATMs offer bi-directional functionality enabling both the purchase of Bitcoin as well as the sale of Bitcoin for cash. Bitcoin machines are not exactly the same as traditional ATMs but work in a similar fashion.
Bitcoin ATM kiosks are machines which are connected to the Internet, allowing the insertion of cash or a credit card in exchange for Bitcoin. They look like traditional ATMs, but they do not connect to a bank account and instead connect the customer directly to a Bitcoin exchange for a localized and convenient way to purchase Bitcoin in person. Common locations for Bitcoin ATMs are inside of a retail store, shop, tavern, restaurant, mall or airport. Keep reading to find out how Bitcoin ATMs work..
ATM providers are third-party companies that sell the machines to merchants that want to install an ATM for their business. Adding an ATM to your location is one of the best ways to increase revenue for your business.
Genesis Coin is the largest manufacturer of bitcoin ATMs with 15,140 machines, followed by General Bytes with 7,965 and BitAccess with 5,549. The top operators of bitcoin ATMs are Bitcoin Depot (19.1% of the market share), CoinCloud (14.1%) and CoinFlip (9.7%).25 Mar 2022
between $3000 and $14,500
Bitcoin ATMs cost between $3000 and $14,500, depending on the model. Delivery and installation costs, taxes, and import duties are also include
This project will last for 10 years and within the contract period more licensed will be secured to install Bitcoin ATMs in new location. Each year we are expected to acquire Licenses to install 50 New BTMs annually within the contract period.
Based on the projections by the end of Contract we would have successfully installed 550 Bitcoin ATMs in strategic locations. Various forms of funding will be utilized in executing subsequent BTMs. Find Breakdown of Projection below:
Cost of Machine and Shipping : 35,000 Installation: 2,500
License and Regulations: 5,000
Provider Fee 5,000
AML/KYC Programmer draft: 25,000 AML/KYC Draft maintenance: 10,000 Exchange Fee 5000
Legal Cost: 5,000
Liquidity Reserve; 200,000 Branding/ Outlook: 4,000
Other Cost: 5,000
Revenue Per Machine
Projected monthly transacted Volume: 800,000 Projected annual transaction: 9,600,000% Fee Charge 6.45%
Annual Revenue: (0.0645*9,600,000) 619,200
Annual Cost: (332,500)
Annual Profit per machine; 286,700