Digital currency is in demand worldwide, driving increased usage of cryptocurrency automatic teller machines and interest among potential investors in a ground-floor opportunity with Bitbox ATM, said Joel Carlsen, Bitbox ATM franchise director. By Cindy Charette
Digital currency is in demand worldwide, driving increased usage of cryptocurrency automatic teller machines and interest among potential investors in a ground-floor opportunity with Bitbox ATM, said Joel Carlsen, Bitbox ATM franchise director.
To support the increasing demand for cash-to-bitcoin exchange, Bitbox ATM provides franchisees with digital, cutting-edge technology specifically designed to take cash and convert it to digital bitcoin or three other cryptocurrency options right at the ATM terminal.
Carlsen said the increase in bitcoin usage could be tied to several factors, including growing concern about a potential devaluation in the U.S. dollar and increased demand for hands-free and remote transactions during the coronavirus pandemic. Additionally, more and more big-name retailers such as Expedia, Starbucks, Whole Foods, Microsoft and AT&T accept bitcoin, along with car dealers BMW, Tesla and Ferrari, and even fast-food chains KFC and Dominoes, to name a few.
Carlsen said bitcoin has been the top performing asset of the last decade and through 2020. So, in addition to being attractive for its purchasing power, the digital currency also appears advantageous from an investment perspective.
Instead of using Western Union to send money to families or loved ones in the U.S. or other countries, Bitbox ATM is a smart alternative. Once cash is inserted into the ATM, within just a couple of minutes the machine converts the cash to a scannable QR code on the screen. Consumers use their cell phones to scan the code from the screen, and digital bitcoin is automatically added to their virtual wallets, minus the services fee. Or they can get a receipt they can scan at a later time. The currency can then be forwarded to family or friends around the world while remaining outside of a bank’s decentralized monetary system.
Bitbox ATM franchisees receive a minimum of two ATM machines with Google/internet marketing to drive existing buyer traffic to each machine daily, with full reporting every 30 days. Franchisees also receive access to a web portal that allows them to monitor their machines in real time anywhere in the country. Since they do not need to live near their ATM machines, 95% of franchisees operate remotely. Franchisees also are referred to a licensed, bonded and insured armored car for their ATM’s cash pickup services.
Additionally, franchisees are paired with a dedicated location director and account director from the corporate staff. The location director sends a team to search out the best locations for ATMs if the franchisee’s area is not a good fit. These corporate representatives also negotiate leases and handle delivery and installation of machines and take care of any legal or compliance requirements. Account managers monitor franchisees’ accounts and walk them through the setup and connection to the software support system. Once franchisees’ machines are installed, they receive lifetime support in all web portal questions and management of their locations.
With Bitbox ATM’s fully managed “Done for You” business model, franchisees keep approximately 75% of all transaction fees from generated revenue, with owners charging up to 20% of the overall transaction amount. There is no monthly advertising fee and no locked-in monthly royalty fee either. Beginning after the first month in business, franchisees pay a 2% transaction fee to the franchisor – but only if the machine generates gross revenue.
Carlsen said this turnkey brand has very little competition but is in huge demand, is highly scalable, requires minimal maintenance and no experience.
Tier one locations and preferred pricing are still available for Bitbox ATM, so visit bitboxatm.com for more information.
– Cindy Charette