Coinsource, the American Bitcoin ATM network, has expanded into the US Midwest by placing three machines in St Louis, Missouri. The expansion brings the Coinsource portfolio to above 80 machines with a 14% total of the American market share.
Coinsource CEO Sheffield Clark said: “After coming off a landmark year in 2016, our sights are set even higher. Bitcoin has seen some fluctuations early this year but I’ve never seen such resilience before and it continues to grow steadily in value, demand and trading volume. We plan to enter as many new markets as possible, especially capital cities and large population centers to continue scaling and matching customer requests. By the end of Q1, we hope to bring our tally to 100 machines.”
Trading Places: Finding The Best Jurisdiction for Your BrokerageGo to article >>
The Texas based company strategically installs machines in high foot and vehicle traffic areas, and within popular stores open most of the day and night.
Clark added: “It’s both challenging and rewarding every time we enter a new state because our business succeeds when we set trends, rather than follow them. We are in 9 states now and will continue to pepper the country with ATMs, as well as upgrade many of our existing kiosks with both buy and sell functionality. In 2016, we were installing bitcoin ATMs at an average of 1.2 machines per week. We hope to double that this year.”
The Coinsource bitcoin ATM now has machines active in California, Louisiana, Missouri, Nevada, New Jersey, New York, Pennsylvania, Tennessee, and Texas.