Thanks to massive public demand for Bitcoin ATMs in the United States, the world’s largest Bitcoin ATM network, Coinsource on April 12 announced that it was expanding into the US capital. The planned expansion will involve the installation of 20 bitcoin ATMs in Washington, D.C. as well as the neighbouring Maryland area. The ATM machines will be spread conveniently across the area with a dozen being deployed in D.C., five in Baltimore, one in Takoma Park, one in Towson and one another in Oxon Hill.
The Texas-based company has been striving to make buying cryptocurrencies easier for all US residents, an endeavour that has seen to the deployment of nearly 200 ATM machines servicing 164 million residents across 19 states.
“We are meeting Washington D.C. at an inflexion point, where regulators are looking at the value and potential of decentralized currencies and blockchain technology,” said Coinsource Chief Executive Officer Sheffield Clark. “All innovation over time has passed through our Nation’s Capital in one way or another, and we are happy to be now servicing Washington D.C. and the surrounding communities so that they can have easy access to buying and selling Bitcoin.”
Before this new development surfaced, Washington D.C., already had five machines each being serviced by five different operators. Furthermore, many of the state’s local bookshops, record shops, and restaurants have been accepting bitcoin payments since last year.
“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,” Clark added.
Coinsource CMO Bobby Sharp also confirmed the expansion would be accompanied with more perks that include the lowest rates, exclusive remote enrollment as well as at-home account registration. This goes in line with the company’s vision of providing financial freedom to the unbanked and the underbanked.