Bitcoin ATM network Coinsource today announced their single largest installation to date, a deployment of 20 new machines in the American 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 Atlanta and two in nearby 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 one of the three largest US markets alongside Chicago and New York.
“This is a major opportunity not only for Coinsource but for the cities of Atlanta and Athens as well,” Coinsource CEO Sheffield Clark said. “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,” Mr. Clark added. “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 per cent 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.”
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 enrol 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 20 new machines in Greater Atlanta area, 16 are buying only, while four have both buy and sell functionality.