Coinsource launches new Bitcoin ATM software, preps for expansion

Coinsource, the world’s largest Bitcoin ATM network, has unveiled a new in-house software stack that will significantly improve the user experience at each of their nearly 200 machines across the nation. Previously powered by a third-party software, the new Coinsource proprietary software will reduce Bitcoin transaction delays, improve QR code scanners, soon support bill pay functionality, and introduce a one-time promotion for fee-free purchases for new users.

Sheffield Clark

Sheffield Clark

“Moving away from third parties is one of the fundamental principles of Bitcoin, so it is only fitting that we created our own technology to streamline access to our generation’s fastest growing digital asset,” CEO Sheffield Clark said. “The technology makes visits to our ATMs much quicker and easier, and it also allows other digital currencies to be added onto each machine in the future. As our customer base continues to grow at unprecedented rates, we are focused on continually improving our services, as well as expanding into new cities, states, and countries across the world.”

Coin source transaction fees never exceed eight per cent in costs. And as part of the company’s 2018 “New Coinsource Experience” initiative, the new software is helping the company refine the Coinsource ATM and mobile app user experience so that users of any age or technical expertise can easily use its services. The software will be operable across the globe, and will allow for future integrations of digital currencies at Coinsource’s terminals.

Coinsource’s 2018 growth strategy includes expansion into 25 US states, with more than 400 machines across the country. They currently have almost 200 machines across California, Oklahoma, Nevada, Texas, Louisiana, Missouri, New Jersey, New York, Pennsylvania, Tennessee, Arizona, Georgia, Rhode Island, New Hampshire, and Massachusetts.

“Even though the number of digital currency traders, investors, and enthusiasts increases by the day, there are still hundreds of millions of people around the world that don’t have the technological know-how to get involved,” Mr. Clark said. “We have built our company around breaking down the barriers to entry, and facilitating access in a way that almost anyone can understand, and in a way that they are already accustomed to. Our new mobile enrollment feature allows anyone to sign up to a Coinsource account remotely, from any device in the world, and activate a free first time transaction.”

America is the largest global market for Bitcoin ATMs with 1352 machines out of the 2098 installed across the world.