Bitcoin ATM Network Coinsource Adds Machines In New England

Announcements | February 14, 2018 By:

Bitcoin ATM network Coinsource has installed 10 new machines in New England. The installation is a response to increasing demand from bitcoin users in the region.

It comes two weeks after Coinsource made the pivot from using a third-party software to an all-new in-house software stack that the company claims makes API improvements, improves transaction speeds, and adds QR code scanners.

The new bitcoin ATMs were in installed in Rhode Island (2 BTMs), New Hampshire (3 BTMs) and Massachusetts (5 BTMs). Coinsource said it has installed its machines close to main roads, high foot and vehicle traffic areas, and within close proximity of Harvard University, Tufts University, and MIT. The machines will provide an alternative for those who want to buy and sell their bitcoin. Coinsource said the transaction fees average 8% for bitcoin.

“This quarter we have seen an overwhelming demand from local merchants looking to add a Coinsource BTM to their shops,” said Coinsource director of marketing and strategy Derek Muhney. “We have had an influx of customer inquiries throughout the New England region. We’re excited to be able to provide our exclusive service to those who have been awaiting our arrival. And we plan to add even more machines over time.”

Coinsource CEO Sheffield Clark said they are expanding throughout smaller regions of the US to provide everyday people the opportunity to invest using their machines, as well as saturating heavily populated parts of the country, such as Houston.

Founded in 2015, Coinsource currently has almost 200 machines in 15 states: California, Oklahoma, Nevada, Texas, Louisiana, Missouri, New Jersey, New York, Pennsylvania, Tennessee, Arizona, Georgia, Rhode Island, New Hampshire and Massachusetts.