Already leaders in the steadily evolving cryptocurrency industry, Bitcoin of America recently introduced a new point-of-sale feature that very well could prove to be groundbreaking for both investors and retailers.
One of the few Bitcoin dealers in America to provide a user-friendly tablet option, Bitcoin of America’s new point-of-sale function allows consumers to use Bitcoin as payment for goods. Yep, you read that correctly: Bitcoin could very well be transitioning from something people invest in and trade to a form of currency used to purchase various items.
Merchants already utilizing Bitcoin of America’s tablets in their businesses are now able to accept Bitcoin as payments. The new option for Bitcoin payments could very well prove to be one of great convenience for customers and one of tremendous profits for vendors.
“Our tablet program was created as a new way for customers to purchase Bitcoin and LiteCoin, but now that we have integrated accepting point-of-sale cryptocurrency as a form of payment, it’s a great option for both stores and customers,’’ said Jenna Polinsky, Bitcoin of America’s Director of Tablet Sales and Marketing.
Also, (the transactions) come free of charge, so that’s good for businesses. They also get our advertising in Google, so that’s advertising that the businesses get in a hundred-plus directories. That advertising gives businesses new customers looking to purchase Bitcoin and then they end up using their services. So, it’s really a win-win for everybody.
Bitcoin of America, which is registered as a money services business with the United States Department of Treasury (FinCEN)(RegNum), has had a lot of wins lately. It’s rapid growth in recent years allowed it to top the 1,100-location plateau. Founded in 2007 in Chicago with a single location, BOA has rapidly expanded throughout the U.S. and it now has purchasing, selling and investing ATMs and tablet locations in 31 states and the District of Columbia.
BOA also recently held talks with City of Miami Mayor Francis Suarez about making that city a crypto capital and BOA announced plans to expand to 200 South Florida locations by 2022.
Businesses hosting Bitcoin of America ATMs and tablets can make up to $500 a month of passive income. By virtue of BOA’s dedicated advertising campaigns and its growing popularity, businesses partnered with the company often experience increased traffic from customers specifically looking for crypto trading options. Often, those customers remain loyal to the locations and ultimately generate new revenue streams for the host businesses.
To expand their reach beyond their ATM locations and further separate themselves from the competition, Bitcoin of America introduced their tablet options early in 2021. With the tablets, customers new or unfamiliar to Bitcoin trading and investing can talk through the process with a personal vendor instead of simply interacting with an ATM’s automated services. The tablet options provide customers the ability to ask questions and get answers throughout the transaction process.
“The reason that we started the tablet program was so that we could set ourselves apart from our competitors and we saw that there was a huge gap in terms of people who didn’t understand cryptocurrency and needed help when investing,” BOA’s Polinsky said.
“With our tablets, we created a system where our merchants are experts and the customers can ask questions. Yeah, they can still use our Bitcoin ATMs, but the tablet format is so good for beginners and for those people who want to ask questions.
We’ve really seen our table format evolve with people who want to get involved with crypto, but are hesitant to start doing so,” Polinsky added. “The tablet is helping our customers through that process.
To date, Bitcoin of America’s point-of-sale function has been another big hit because customers are able to use Bitcoin as currency and aren’t limited to just trading and investing it. Allowing Bitcoin to be used as payment for goods has proven to be both profitable for vendors and convenient for customers.
“Already, from what we’ve seen, people have been ecstatic about this option to use crypto for purchases,” Polinsky said. “By having crypto options in your store, you are taking advantage of different opportunities with advertising, which helps our businesses run. So, really, it’s just a win-win for everybody because of all that it offers.”