[Infographic] Bitcoin Business vs. ATM Business: Fees Explained Simply

Bitcoin. Who hasn’t heard of it? News of this new form of digital currency is sweeping the nation. Everyday it seems we hear of someone else making lots of money from blockchain. Needless to say, it keeps us interested. But, there’s been a pretty big downfall to investing in the currency lately. Transaction fees are becoming quite a problem. In December 2017, a man moving $25 of Bitcoin paid a $16 fee to do so. According to CNBC, people are paying $28 on average to make Bitcoin transactions. The average transaction fee at an ATM machine is currently around $4. Both fees have been increasing, but Bitcoin’s transaction fee is doing so at a significantly higher rate.

What is Bitcoin?

In its most simplest terms, Bitcoin is a digital currency. A cryptocurrency. Created in 2009 by anonymous user Satoshi Nakamoto, the goal was to create a decentralized electronic cash system. Decentralization is one of Bitcoin’s most important characteristics. This means that no single institution controls the bitcoin network. This puts people that don’t like institutions to have control of their money at ease. Another defining difference between common currencies and Bitcoin is pseudonymity. The system does not need to know the identity of any parties involved when Bitcoin is transacted. This anonymity attracts illegal activity which takes up almost half of Bitcoin transactions at the moment.

What is Bitcoin Infographic

Source: http://mompreneurasia.com/wp-content/uploads/2017/06/btc-1024×690.jpg

Bitcoin Transaction Fees

With so many success stories in the media, people are rushing to enter the cryptocurrency business. Transaction fees are usually the first and most visible cost that everyone in the network will experience. With more users joining in, fees are increasing. According to the graph below, transaction fees for Bitcoin in October 2017 total over 22 million dollars. The average transaction fee around that time: around $60.00. The biggest pain point most people in the network have is how much the fees are fluctuating. If you enter the Bitcoin business, it is in your best interest to check www.cryptofees.net daily, or a similar site, to find out the current average transaction fee. The constant variations and shifts keep Bitcoin miners on their toes.

Bitcoin Transaction Fees - Graphic

source: https://cryptovoices.com/network-transaction-fees/

ATM Transaction Fees

One of the most common fees we encounter everyday has been rising as well. ATM surcharges have reached an all-time high. CNBC reports Pittsburgh has the highest current average at $5.19 while San Francisco has one of the lowest at $3.90. The slowly increasing fee ensures Independent ATM Deployers continue to make a good amount of passive income. As averages continue to rise, remember to update your ATM surcharges to ensure you make more money.

Interested in learning more about the ATM Business? You’re in the right place. Don’t leave this page without getting the information you need. Download our FREE ATM Business Guide by clicking the link below.

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ATM Fees Increasing Over Time

source: http://time.com/money/4966816/atm-fees-all-time-high/

TX Fees vs. Surcharge

Although ATM surcharges have been increasing, the fee doesn’t fluctuate as fast as Bitcoin transaction fees. The average annual increase, according to Bankrate 2017, has been 4.7% over the past 19 years. Bitcoin transaction fees are different for each transaction. On this day, the minimum Bitcoin transaction fee charged is recorded at 0.0963%, however, the largest fee recorded is 29.3309%. That’s right. Someone paid $43.00 to send $103.61. Good thing we don’t have to pay a percentage to withdraw money from an ATM.

The average ATM surcharge has been increasing lately, but it’ll be a while before it’s equal to that of Bitcoin. Most people are wondering whether getting into the Bitcoin business would be beneficial. The answer is … probably. If you’re wondering whether getting into the ATM business is profitable, the answer is yes. IADs are racking up on these surcharges that happen to increase each year. You may have to check daily what you’ll pay to transfer Bitcoin, but surcharges don’t usually change on a daily basis. The ATM business is a lot more secure and reliable, however, the Bitcoin businesses is definitely booming. We’ve created this infographic to help illustrate the difference between bitcoin fees and ATM surcharges.

Bitcoin Business vs ATM Business Fees

[Infographic] The Bitcoin Business vs The ATM Business Fees

How to Profit from the ATM Business - Free Guide

How to Plan for an ATM Business Boom During the Holidays

ATM Business Booms During the Holidays

Like any business, ATM businesses go through highs and lows throughout the year. Depending on your ATM’s location you could see significant increases during the holidays.

The average shopper spends just under $1,000 on holiday gifts. Naturally, ATMs located in shopping malls verses gas stations are going to see more action due to the foot traffic. Stores draw an average of 150 or more people a day on a regular basis. This number will represent a slow day when the Holiday’s roll around.

If you’ve been in the ATM business for a little while now, hopefully you have an idea of the cash needs and volume of your ATM machines. This information is going to help you determine your work load during the busy holiday months. Obviously, you know that if your machine isn’t loaded with cash it is not going to make you money. It’s also not going to make you money if it’s out of order. Since it’s going to be processing a lot of transactions, it needs to be in tip top shape so that it can do its job.

Location, location, location; you’ve heard it a million times. Location cannot be stressed enough. Location is everything. It is part of the equation of your ATM business and it’s a very big part, at that. Your location determines your ATM business success. No matter where you are, you will see the benefits of the holiday season; whether you’re in the shopping mall or in the gas station. People will be buzzing all over the place. With that said, you want to be where the shoppers are. You want to be right in the middle of all of the activity. This also holds true after the holidays when shoppers are out to hit the post-holiday clearance sales. Read more

Investing in an ATM for Business or Profit

Custom Branded ATM Machine for a BusinessInvesting in an ATM

Do you have customers asking you for the nearest ATM location? If you answered yes, then it is time to consider buying or investing in an ATM machine for your business. Instead of sending your customers around the corner or down the block to the nearest ATM machine, wouldn’t you rather offer them the convenience of never having to leave your store? Plus, you get to keep the great profits of owning your own machine. Investing in an ATM can generate surprising amounts of revenue.

Up until now, you’ve been sending this revenue around the corner and down the block, but it is time to take this reliable source of constant income, and make it yours. From now on, when somebody asks you where the nearest ATM is, you can direct them to the one located right in your store. Your customer benefits from the convenience and so do you. After all, when a customer leaves your store, even if they are headed to grab some quick cash for their purchase, there is no guarantee that they will return. This can potentially result in a loss of sales and is easily prevented. The majority of start up ATM business owners earn their entire investment back inside of six months or so. After that they earn profits month after month, year after year. The ATM revenue you can potentially earn comes from the ATM surcharge. When you own your own machine the surcharge is 100% yours. Read more

Tabletop ATM Machines

What are the Benefits of a Tabletop ATM Machine?

Hyosung Table Top ATM

Tabletop ATM machines (and Wall Mounted ATMs) are great for small spaces and when floor space isn’t available. They offer customers the money they need in a compact size machine. They can be placed almost anywhere a counter top or wall mount is available. They offer the same up to date transaction processing and they are a less expensive option when investing. 

Tabletop ATMs are some of the most efficient and easiest ATMs to maintain. Their easy access components can be reached with a flip of the top and yet they are just a secure as any standard ATM. Add receipt paper with ease. Easily add cash or do a little maintenance between customers. All of the upkeep that comes with your ATM machine is right there at table top eye level. There is no floor space needed for the table tops, lending more room to your merchandise or the merchandise of the store owner who provided space for your machine.

Click here to see the exact specifications of the Hyosung Monomax 4000 Tabletop or Wall Mount ATM. Read more

The 6 Basics of Starting an ATM Business

The Basics of Starting an ATM Business

Did you know that there are over 425,000 ATMs in the US and fewer than half of those are owned by banks?

The majority of them are owned by people like you and me. ATMs are very profitable businesses because there is very little to no overhead expenses. You don’t need employees.

No store front or rental space is needed, and there is a low start up investment. The best part is you can manage your ATM business from home at your own schedule. Are you ready to get started?

Follow these 6 basic steps to set the foundation for starting an ATM business to ensure maximum potential for success: Read more