You’ve likely seen signs outside of your local convenience stores touting the addition of a new Bitcoin ATM (BTM). As cryptocurrency continues its meteoric rise in popularity and acceptance, more and more local businesses are adding Bitcoin ATMs into their store’s footprint. These additions greatly support local business owners, and give you the opportunity to buy Bitcoin with cash.
But how do you choose which BTM to go to? How do you find one that is convenient, trustworthy, and won’t charge you high fees or inflated Bitcoin?
How Bitcoin ATMs Support Local Business Owners
Cryptocurrency has a huge advantage over traditional currency. Through crypto, the unbanked and underbanked have access to digital money in a safe, convenient, and trustworthy way. The reach of Bitcoin ATMs extends farther than just the users. Did you know that hosting a Bitcoin ATM in a local store benefits the business owner?
The largest way a Bitcoin ATM benefits local businesses is by opening them up to a new customer base. Bitcoin ATMs are a cost-effective way for business owners to add more value to their store’s footprint. In addition, they get to capitalize on the growing trend of crypto!
Additionally, Bitcoin ATM operators pay rent for the space their Bitcoin ATM requires. This gives these local store owners valuable consistent income each month. That means every transaction you and other customers make helps the store owner provide a better experience for everyone.
It is important for all of us to help support local businesses. And it helps to know that as you build your own crypto portfolio, your transactions help your local economy and businesses.
How to Find the Right Local Bitcoin ATM
While we all know that Google is the ultimate source of information, can you always trust the first location to pop up? Just like traditional ATMs, it is important to find a BTM that is nearby but also meets your needs.
First, it is important to look at Bitcoin ATM fees. Fees vary based on a lot of factors, but a lot of Bitcoin ATM operators tend to hide their fees. Additionally, many companies change their fees based on location as well as the market. While companies like Coinsource are very transparent with where their fees come from and even absorb fees for the user, not every company is as upfront. Before you head to the nearest Bitcoin ATM, it is important to understand how Bitcoin ATM fees work.
After that, it’s all about trust. We’ve all heard the horror stories of people trusting the wrong company. When it comes to your finances, trust is THE most important factor. When looking for a local Bitcoin ATM, you need to know the company operating the Bitcoin ATM will not only have competitive fees but will protect your information and your money.
Before you hop to the Bitcoin ATM at your nearest convenience store, do a bit of research on the company operating it to make sure they don’t have a plethora of complaints from both consumers and store owners. Just like with choosing your bank, it is important to do research on the nearest local Bitcoin ATMs before committing to one for your crypto needs.
Are you interested in making a Bitcoin transaction using cash? Find a Bitcoin ATM near you and start buying today. Are you looking to host a Coinsource Bitcoin ATM in your space to earn extra revenue? Get in touch today to see how your business can benefit.
Coinsource is the world leader in Bitcoin ATMs. With a focus on compliance and ease of use, Coinsource is aiming to bring Bitcoin to the masses. Follow for blogs about Bitcoin, finance, company updates and Bitcoin ATM information!