Coinsource has been awarded an official license to operate a bitcoin ATM in the New York State of America—BitLicense. The company which has over 200 functional ATMs in several states within the U.S including New York, was previously making use of a provisional license.
Coinsource Bitcoin ATM
Coinsource is arguably the world’s largest bitcoin ATM company. The company is credited with having successfully installed more than 200 two way ATMs across the U.S alone. The ATMs installed by the company are designed to allow users to buy and sell bitcoin directly from them. Currently, all Coinsource’s ATMs support transactions from $5 to a limit of$5,000 per day.
With the blockchain industry pushing towards massive mainstream adoption, it has become quite necessary to consider all options through which the technology can reach regular users. The introduction of bitcoin ATM has been described as one of those ways.
It is important to note that Coinsource already has ATMs functioning in New York previously. However, the ATMs were installed using a provisional license. With the new approval received by the company, installing ATMs at any chosen location within the city becomes easy and without special provisions.
Words from the CEO
Regarding the new license, the CEO of Coinsource Sheffield Clark has made some statements. He expressed how happy he is with the development. He made it known that with New York being the centre of financial activities within the U.S, the license is a big deal for the company.
Sheffield also stated that:
“From the onset, our goal was to provide millions of Americans with a reliable and convenient way to buy digital currency. Bitcoin is no longer a fringe currency, and in 2018, is increasingly being adopted by the mainstream. Today, with the issuance of the virtual currency trading license to a BTM operator, the bitcoin industry takes another step toward public adoption.”
Coinsource is the first and only bitcoin ATM operator to be granted a full BitLicense.