In September 2005, brothers Evan and Mike Almeida incorporated Empire ATM. What started as a part-time side gig, today has flourished into a full blown empire with a vast team and nationwide operations under its belt.
Evan -a commodities broker- and Mike -a landscaper- had both found success in their respective careers and for the first four years since Empire’s inception, they never took a dime out of the company.
The Almeida brothers have different points of view in many aspects of the business they’ve built, but their growing pains always seem to help them find ways to compromise and continue to grow. “I think the formula is my brother and I. We have synergy, we don’t always see things exactly the same, which is really good. There’s two ends of the spectrum with us, but our goals have always been the same,”says Mike.
This combination has been especially fruitful when they decided to break into their newest venture, EmpireBIT.
Evan notes, “we’ve come a long way since that first church fair.” One of the biggest eye openers for him in this industry was what he experienced working as a commodities broker in NYC. “The traders thought they were invincible, like they could never be replaced by computers along this exchange that put their products on a digital platform,” he explains.“ Not only were these computers better than human traders, they were more honest and effective. They were able to do way more volume. Literally, this digital technology replaced the open outcry,” Evan adds.
Having witnessed computers almost destroy the industry, he understood that cryptocurrency could potentially put what him and his brother had built out of business. In the next few years the usage of cash will become more difficult. Understanding that this is also where the world is headed, they’ve been smart enough to be on the side of that currency, hence why they invested in it.
“Every day you hear more and more about crypto and it keeps the people dealing with it more honest. The revenue that it has generated has surpassed the number of ATM’s we have,” the brothers add.
As the buzz of cryptocurrency continues to grow, the savvy brothers want to be in a position where they can foresee what will happen next not just in their business, but in the industry.
Mike and Evan will leverage their 15 years of experience in the TAM industry, their vast infrastructure, and the 7,500+ locations they are able to deploy. This will make EmpireBIT transactions accessible through more locations than all other Bitcoin ATM companies combined.
The brothers agree that while Empire ATM started as an opportunity to make money, it has turned into more than that. The CEO’s have created jobs and a shift in the ATM culture, one that’s more loose and relaxed.
Currently, the Almeida’s handle a little over 200 events a year – sometimes working as many as five events in one weekend. They are excited to make crypto more accessible through EmpireBIT, a crypto brand that people can trust.