Coinsource, a New York based bitcoin ATM network announced that it has plans of installing 20 bitcoin ATMs across Maryland and District of Columbia after an increasing demand from users and suppliers from the Washington DC metropolitan area.
Sheffield Clark, Chief Executive Officer of Coinsource, said that their business expansion to Washington came at a 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,” said Clark.
Almost twelve out of the twenty ATMs will be placed in Washington DC, five in Baltimore, one each in Oxon, Towson and Takoma Park, according to the company’s statement. Coinsource has installed several other bitcoin ATMs in the country before Washington. The firm set up 10 new machines in New Hampshire, Massachusetts, and Rhode Island earlier this year before installing eight others in Colorado.
Great News for DC Cryptocurrency Enthusiasts
Bobby Sharp, Chief Marketing Officer at Coinsource, remarked that these installations align with the philosophy 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 detailed.
The new Bitcoin ATMs will be a welcomed development by the city’s bitcoin enthusiasts, seeing as Washington DC has only five bitcoin ATMs at the moment, along with several businesses including shops and restaurants that accept bitcoin as payment.
Regarding the scale of the project, Sharp had to say: “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.”
Coinsource will have little competition in the city seeing as that provider in the city manages only one ATM individually.