Coinsource, the American Bitcoin ATM network, has reported that it installed four new machines in July as it is starting to upgrade to service to offer “Two Way” (USD/BTC and BTC/USD) exchange options.
With a total of 42 machines in locations across seven states, the Texas-headquartered firm now claims the title of the largest Bitcoin ATM operator in the United States, as well as its most geographically diverse network. According to Bitcoin ATM tracking site CoinATMRadar, Coinsource now controls more than 11% of the American Bitcoin ATM market.
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Coinsource CEO 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.”
More to come
Of the four new machines rolled out in July, one was installed in Las Vegas, one in Staten Island, and two in Philadelphia. The company says it plans to install many more ATMs in the future and that the specific locations of all its machines are selected based on their high traffic, convenience, ease of access and long operating hours.
“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.