US-based Bitcoin ATM operator, Coinme announced on Wednesday the expansion of its operations in the state of Florida with the installation of more than 300 Bitcoin-enabled Coinstar kiosks.
The Bitcoin cash machines have been strategically installed inside grocery chains like Winn Dixie, Fresco y Mas and Harveys across small towns and big cities. The aim of the company was to bring Bitcoin purchasing facilities to the local groceries of the Florida residents.
Coinme is one of the major Bitcoin ATM operators in the United States with around 6,000 Coinstar kiosks installed in supermarkets across 45 states.
“Our team has been working with state regulators in an effort to launch Coinme on Coinstar kiosks throughout the state, and we are thrilled to secure a license to offer a cash onramp to purchase bitcoin for the residents of Florida,” Coinme Co-Founder and CEO, Neil Bergquist said.
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“Through our partnership, we’re able to continue to expand into new areas to meet the ever-growing demand of accessible avenues to purchasing digital currencies.”
A Perfect Time for Expansion
The company is expanding its operations when retail demand for cryptocurrencies is skyrocketing. Bitcoin prices recently touched almost the $60,000 mark after bullish rallies in recent months.
Despite the demand, Bitcoin ATM adaptation remained on the lower side. Though these kiosks make the transaction easy the fee charges by the companies remain much higher than what is charged by the exchanges. However, a Coinstar survey found out that 23 percent of the participants would prefer purchasing cryptos using an ATM.
“The current mainstream demand for bitcoin has attracted many first-time investors who need straightforward and secure access to cash avenues to purchase it,” Jim Gaherity, CEO of Coinstar, added.