Coinsource ATM Networks Announces Biggest Installation Yet

November 30, 2017         By: Payment Week

ATLANTA, GA – November 30, 2017Coinsource, the world’s largest bitcoin ATM network, has today announced their single largest installation to date, by deploying 20 new machines in the southern state of Georgia. In response to regional demand, and bitcoin’s continual ascent in both value and adoption, 18 bitcoin ATMs have been installed in the city of Atlanta, and 2 machines in the nearby college town of Athens. One of few licensed and regulated bitcoin ATM operators in Georgia, Coinsource adds to a tech-progressive region already teeming with bitcoin ATMs (101 total kiosks), making it a Top 3 US market alongside Chicago and New York.

Coinsource CEO Sheffield Clark said, “This is a major opportunity not only for Coinsource but for the cities of Atlanta and Athens as well. Atlanta is one of the most mature bitcoin ATM markets in the country so it’s exciting to provide our services to people already showing accelerated adoption of the technology. Our goal is to give everyone the equal ability to access bitcoin, particularly in times of record demand, and participate in this soaring new economy. Part of making this marketplace accessible is making sure our fees are less than half that of any other operator, and customers will be given fee-free transactions for first-time use of any new machine.

Coinsource has installed their machines close to main roads, high foot, and vehicle traffic areas, and within close proximity of Georgia State University and Emory University in Atlanta, and the University of Georgia in Athens. With Bitcoin now trading at about $10,000 USD and payment integrations on the rise, local Georgia merchants have begun to accept it as a form of payment, including local car dealerships, restaurants, graphic design outlets, and gyms.

“Bitcoin is catching fire and the United States is catching on; everyone wants to invest and get involved. For us, we believe bitcoin has two purposes; one as an alternative form of payment, and two as a form of investment and financial inclusivity for the underbanked and unbanked. According to reports from the FDIC over the past five years, Atlanta, Georgia is in the top ten of most unbanked cities in the country, and more than one in ten households have no involvement with traditional banks. Around 30% of residents are underbanked, meaning they might have to check accounts, but have to rely on other kinds of services like pawn shops, check-cashing and payday loan companies to get cash and credit,” Clark said.

Coinsource is also rolling out an online enrolment system today, an industry first, that allows new customers to sign up before they even visit a machine. Customers that enroll this way will have a fee-free experience for their first transaction. The link is https://bit.ly/CoinsourceEnroll

Coinsource’s total Bitcoin ATM machine count is now 136. They are operational in 12 states; California, Oklahoma, Nevada, Texas, Louisiana, Missouri, New Jersey, New York, Pennsylvania, Tennessee, Arizona and now Georgia. 16 of the new machines in Greater Atlanta area are buying only, while 4 have both buy and sell functionality.


About Coinsource:

Coinsource is the world’s largest Bitcoin ATM network. Founded in 2015, the Texas-based company gives any person the ability to buy and sell bitcoin with US dollars at physical kiosks located around the country. Coinsource now has a portfolio of 136 machines nationwide. They are operational in California, Oklahoma, Nevada, Texas, Louisiana, Missouri, New Jersey, New York, Pennsylvania, Tennessee, Arizona, and Georgia. Coinsource prides itself on providing convenient, seamless access to the world’s leading digital currency, now with a total market capitalization of $140 billion USD. Given the rapidly evolving fintech industry, Coinsource has focused heavily on building a world-class compliance and consumer protection program, multi-tier high touch support, and a service that supports millions of unbanked and underbanked Americans. The company is planning international expansion, as well as making significant machine installations in many US states.