Bitcoin traders in Washington DC will find it a lot easier to convert their cryptocurrency into real money as Coinsource, the American Bitcoin ATM network has now entered DC. The Texas-based company has confirmed that it will install 20 new ATM machines in the District of Columbia and Maryland. This brings the network total to around 200 machines spread across the US.
This installation is in response to the higher demand for Bitcoin in the area from merchants and local users. The ATMs will be spread out in areas of convenience. A dozen will be placed in Washington DC itself, while another five will be in Baltimore. The remaining three will be placed in Towson, Oxon Hill and Takoma Park.
Washington DC already had a small presence of bitcoin ATMs. The city had around five machines that were operated by five different companies. Besides that, there have been several establishments that started accepting Bitcoin as payment last year.
In a statement, Sheffield Clark, CEO of Coinsource said
We are meeting Washington D.C. at an inflection point, where regulators are looking at the value and potential of decentralized currencies and blockchain technology. 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
Coinsource To Continue Bitcoin ATM Expansion Plans
This installation is just the latest move in the company's expansion for this quarter. In early February, Coinsource installed 10 machines across Massachusetts, New Hampshire, and Rhode Island. Coinsource also installed 10 machines in Denver, Colorado in March. At the end of this expansion, the company will have a presence in over 18 American states.
Bobby Sharp, CMO of Coinsource is proud of the company's growth. He points out that the Coinsource offers the lowest rates and allows for at-home account registration. With its focus on individual financial freedom, Coinsource is happy about the current developments and is prepared for future expansion as demand for bitcoin continues to rise across America.
Bitcoin ATM growth is on the rise overall across the world and in the United States. Right now, there are nearly 3,000 Bitcoin ATMs in the USA. This comprises around 75% of the world's Bitcoin ATM population. Europe has the second-highest concentration, while Asia has just 1%. The great thing about these ATMs is that they are progressing from offering just Bitcoins to offering other cryptocurrencies as well.