Coinsource Sets Up 20 Bitcoin ATMs in Georgia

Coinsource Sets Up 20 Bitcoin ATMs in Georgia
01.12.2017 10:34 am

Coinsource Sets Up 20 Bitcoin ATMs in Georgia

Bitcoins

Coinsource, 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 http://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.  

Related News

Digital Debit Accelerates Bitcoin Adoption with Release of First Real-Time P2P Payments App

Digital Debit Group (DDG), a division of Qondado LLC, announces the release of the Digital Debit® mobile Bitcoin payments app. The company's utilization of the Coinbase API... Read more »

New gold investing drops by one-fifth everywhere but Germany as Bitcoin steals gold's shine in 2017

Gold trading among existing private investors rebounded as bullion prices steadied in November, but new interest from first-time buyers sank to its lowest since the metal's... Read more »

Tokyo-based Bitcoin Exchange bitFlyer Taps the US Market

BitFlyer, the Tokyo-based operator of the world's largest bitcoin exchange, today announced the official launch of its US-based virtual currency exchange platform. 

The... Read more »

Is Bitcoin Becoming Mainstream?

Between November 2016 and November 2017, Bitcoin saw its market-cap increase by 1034% to a record breaking value of $128,982,906,067 on coinmarketcap.com. November 2017 also... Read more »

The Streak Continues: KICKICO Tokens Land on Leading Bitcoin Exchange

Just one month after shattering its Initial Coin Offering (ICO) goal and successfully thwarting hackers, blockchain startup KICKICO’s  streak continues with the October 22... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53, +44 (0) 173 261 71 47 Download Our Mobile App