Coinsource, a US bitcoin ATM network, has announced its single largest installation of bitcoin ATMs to date, launching seven new machines across the Los Angeles area and two more bitcoin ATMs in Las Vegas.
With these additions, Coinsouce now claims to be the largest bitcoin ATM provider on the West Coast with 16 machines in San Francisco, Silicon Valley, Los Angeles, Las Vegas, and San Diego. Four bitcoin ATMs have been installed in LA proper, with one each in Lynwood, Long Beach and Torrance.
Coinsource maintains the lowest transaction fee of any major bitcoin ATM network and now has a total of 30 machines in five states across the country.
Coinsource CEO and Co-Founder Sheffield Clark said his company is expanding quickly “in concert with the growing demand for digital currency” with bitcoin now trading above $450, up from $220 one year ago.
“Our entrance into the Los Angeles area is the most important yet for both the Coinsource brand and for bitcoin enthusiasts in Southern California. The roll out of seven new machines in one go was a significant logistical achievement, but we are proud to bring so many more options for both novices and veterans of bitcoin. With more and more use-cases for bitcoin every day, we foresee a future where digital currency is used as commonly as cash or credit cards.”
According to Clark, the specific locations of the machines were selected based on their high vehicle and foot traffic, parking convenience, ease of access and long operating hours of the stores in which they are located.
“When you look at our locations on a map of the West Coast and across the United States, the ink spots are really starting to grow. It’s a very exciting time for us.”
Manufactured by GenesisCoin, all Coinsource bitcoin ATMs are open late and offer the industry’s lowest fees. Rates start at 8% and reduce with higher volume purchases.