Coinsource Increases and Upgrades Bitcoin ATM Network
American bitcoin ATM network Coinsource installed four new Bitcoin ATMs in the month of July, leading it to become the largest bitcoin ATM operator in the United States. Last month, Coinsource added ATMs in New York, Nevada and Pennsylvania, bringing its total number of machines to 42 across seven states, with the others being New Jersey, Texas, Louisiana and California, with plans to roll out more ATMs across the country in the future.
CEO of Coinsource, Sheffield Clark said: “We are extremely proud to be America’s number one Bitcoin ATM network, but it is our customers and the cryptocurrency phenomenon that deserve the credit. Bitcoin has proven to be one of the world’s highest performing investments. As Bitcoin becomes even easier to use and is accepted as payment in more and more venues, the list of users and use-cases has increased exponentially. From the beginning, our team wanted to solve the access problem for Bitcoin. Today, millions of consumers across the United States can find reliable, safe, instant access to a compliant Coinsource Bitcoin ATM nearby.”
Of the four new machines, one was installed in Las Vegas, one in Staten Island, and two in Philadelphia. The specific locations of the machines are 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. According to Bitcoin ATM tracking site, CoinATMRadar, Coinsource controls more than 11% of the American bitcoin ATM market. In addition to new ATMs, Coinsource is beginning to upgrade its ATMs to allow customers to both buy and sell bitcoin.
Clark added: “Given the recent trend of people buying and selling bitcoin, rather than just buying it, we are starting to systematically upgrade many of our machines into two-way kiosks. Our customers can use bitcoin to purchase discounted everyday goods online and can use the same kiosks to acquire fiat currency instantly for face-to-face transactions at nearby merchants. We’re pleased with the response to our two-way Bitcoin ATMs in every city we’ve installed them in, and with the increased performance of cryptocurrencies in the digital age, their viability and usefulness show no signs of slowing down,”