New York based bitcoin ATM network Coinsource will install 20 bitcoin ATMs as it makes a grand entry into the country’s capital. The company announced that it would install the machines across Maryland and District of Columbia following huge demand from users and merchants in Washington DC metropolitan area.
Chief Executive Officer of Coinsource, Sheffield Clark said that their entry to Washington came at an important time when “regulators are considering the value and potential of decentralized currencies and blockchain technology” stressing that the capital city is pivotal innovations like this. “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,” he said.
According to the statement, about twelve out of the twenty ATMs will be located in Washington DC, five in Baltimore, one each in Oxon, Takoma Park, and Towson. Coinsource has set up several bitcoin ATMs in the country leading up to Washington. The ATM providers launched 10 new machines in New Hampshire, Massachusetts, and Rhode Island early this year before another eight installations in Colorado.
Bitcoin ATMs, a huge benefit for DC Cryptocurrency enthusiasts
Chief Marketing Officer for Coinsource Bobby Sharp noted that the installations were in line with the ethos of cryptocurrency. “This installment is especially significant to Coinsource, as the philosophy behind decentralized currency is and has always been about giving freedom back to the people,” he explained.
The new Bitcoin ATMs will be a huge boost for bitcoin enthusiasts in the city as Washington DC currently has only five bitcoin ATMs in addition to several businesses like shops and restaurants that accept bitcoin. Coinsource will face little opposition for supremacy in the city given that provider in the city manages only one ATM apiece. Of the magnitude of the project, Sharp said, “We are expanding the Bitcoin ATM market further than it’s ever been in D.C., offering the lowest rates, exclusive remote enrolment and allowing for at-home account registration.”
Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.