Coinsource Expands Reach in West Coast, Passing 50 Machine Milestone

Coinsource, the National Bitcoin ATM Network, today launched six new machines in California due to huge spikes in customer demand. The latest installation brings the total number of machines in California to 19, and 55 across the United States. Coinsource has enjoyed a breakout year in 2016, installing new bitcoin ATMs at an incredible rate of one per week. America’s largest ATM operator added four new machines in the greater Los Angeles area, and two new machines in the San Francisco area. Coinsource ATMs are currently active in seven states, including New York, New Jersey, Pennsylvania, Texas, Louisiana, Nevada and California.

CEO of Co-founder of Coinsource Sheffield Clark said, “California now becomes the state with the highest concentration of Coinsource machines, with a total of 19. To see the roster of machines in the Golden State jump from one to nineteen in such a short period of time highlights a large increase in bitcoin’s popularity for consumers, showing real demand for convenient access to buy and sell today’s most valuable cryptocurrency.”

The four machines in the Greater Los Angeles Area are located in Simi Valley at First Street Market & Liquor (1955 First Street); Oxnard at Oxnard Gas and Mart (1400 S Oxnard Blvd); Anaheim at the Anaheim Mini Market (1581 W Romneya Dr); and San Bernardino at Jug & Jigger Liquor (1411 E Highland Ave). Coinsource has added new machines in the San Francisco Bay Area as well. New bitcoin ATMs can be found at North Beach Market in San Francisco (536 Broadway) and at Uptown Market in Oakland (5635 Shattuck Ave).

“We have learned many lessons as a company while growing so quickly in a booming industry. Coinsource has built an organization that’s built to scale and to do so while meeting or exceeding varying levels of compliance. It’s clear to us that more and more people are using bitcoin as an alternative to fiat, and we want to support that movement as much as possible. Coinsource now has 55 machines and 10 employees distributed across the United States, but will certainly seek further expansion as well,” Clark added.

Coinsource is expected to have over 60 bitcoin ATMs throughout the United States by the end of Q4. The company currently controls 13% of the burgeoning bitcoin ATM market in America. Coinsource machines are open late and charge the lowest fees of any major provider in the industry.

For more information, visit www.coinsource.net.