Coinsource Places Arizona Bitcoin ATMs

Announcements, FinTech | July 11, 2017 By:

Bitcoin ATM network Coinsource has launched five new bitcoin ATM marchines across the Phoenix metro area. The ATMs have been installed in Phoenix, Peoria, and Mesa.

The bulk installation is Coinsource’s first launch into Arizona. The latest installation brings the company’s total machines to 116 across 10 states. The company reportedly controls 15% of the Bitcoin ATM market. Coinsource has a strong presence in California, Nevada, Texas, Louisiana, Missouri, New Jersey, New York, Pennsylvania, Tennessee, and Arizona.

The five machines are all GenesisCoin 1-Way Bitcoin ATMs with a 7% buy fee. The Phoenix proper locations are D&S Market, 2340 N 32nd St., Simon Chevron, 1901 W Bethany Home Rd., and Speedy Stop Food Store, 5033 S 16th St. Mesa’s machine can be found at the Max Mart at 735 E McKellips Rd., and Peoria’s is located at the Cactus Shell at 6730 W Cactus Rd.

“We are really excited about our reach into Phoenix, one of America’s largest metropolitan areas geographically, and the fifth largest by population,” Coinsource CEO and co-founder Sheffield Clark. “We simply addressed a market need there and we are proud to provide more options to people who are starting to use bitcoin, or want to use it, as commonly as they use cash or credit cards. We are also proud to start doing business in a state that is so blockchain technology-progressive. In March, Arizona Governor, Doug Ducey signed a bill recognizing blockchain signatures and smart contracts as state law.”

The latest installation caps off a strong first and second quarter, with Coinsource installing 50 machines so far this year.

Clark said the company has had a busy three months. They’ve conducted several recruitment rounds, strengthened its team to 20, and are now close to announcing significant projects outside the US.