Bitcoin ATM network Coinsource has announced that it has installed four new Bitcoin ATMs last month, thereby becoming the largest Bitcoin ATM operator in the United States, and the most geographically diverse.
In July, the Dallas-based firm installed new Bitcoin ATMs in New York, Nevada, and Pennsylvania, bringing its total number of machines to 42 across seven states. Of the four new machines, one was installed in Las Vegas, one in Staten Island, and two in Philadelphia.
“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”, Coinsource CEO Sheffield Clark said.
Coinsource is currently active in New York, New Jersey, Pennsylvania, Texas, Nevada, Louisiana, and California, with plans to roll out many more bitcoin ATMs across the country. The specific locations of all Coinsource 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.com, Coinsource controls more than 11% of the American Bitcoin ATM market.
“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,” added Clark.
Manufactured by industry leader GenesisCoin, all Coinsource Bitcoin ATMs are open late and claim to offer the industry’s lowest fees. Rates begin at 8% and reduce with higher volume purchases.