Coinsource, the world’s largest Bitcoin ATM network, has unveiled a new in-house software stack that will significantly improve the user experience at each of their nearly 200 machines across the nation. Previously powered by a third-party software, the new Coinsource proprietary software will reduce Bitcoin transaction delays, improve QR code scanners, support bill pay functionality in the near future, and introduce a one-time promotion for fee-free purchases for first-time users.
Coinsource CEO Sheffield Clark said, “Moving away from third-parties is one of the fundamental principles of Bitcoin, so it is only fitting that we created our own technology to streamline access to our generation’s fastest growing digital asset.The technology makes visits to our ATMs much quicker and easier, and it also allows other digital currencies to be added onto each machine in the future. As our customer base continues to grow at unprecedented rates, we are focused on continually improving our services, as well as expanding into new cities, states, and countries across the world.”
Currently, Coinsource offers the lowest fees of any Bitcoin ATM operator, with transaction fees never going over 8 percent in costs. And as part of the company’s 2018 “New Coinsource Experience” initiative, the company’s move to in-house software is helping the company refine the Coinsource ATM and mobile app user experience so that users of any age or technical expertise can easily use its services. The software will be operable in all US states, and in any country across the globe, as well as allow for future integrations of digital currencies at Coinsource’s terminals.
Coinsource’s 2018 growth strategy includes expansion into 25 US states, with over 300 machines across the country. They currently have almost 200 machines in 15 states; California, Oklahoma, Nevada, Texas, Louisiana, Missouri, New Jersey, New York, Pennsylvania, Tennessee, Arizona, Georgia, Rhode Island, Connecticut, and Massachusetts.
“Even though the number of digital currency traders, investors, and enthusiasts increases by the day, there are still hundreds of millions of people around the world that don’t have the technological know-how to get involved. We have built our company around breaking down the barriers to entry, and facilitating access in a way that almost anyone can understand, and in a way that they are already accustomed to. Our new mobile enrolment feature allows anyone to sign up to a Coinsource account remotely, from any device in the world, and activate a free first time transaction,” Clark said.
America is the largest market for Bitcoin ATMs across the globe, with a total of 1352 machines. There are 2098 machines across the world.
Coinsource is the world’s largest Bitcoin ATM network. Founded in 2015, the Texas-based company gives any person the ability to buy and sell bitcoin with US dollars at physical kiosks located around the country. Coinsource now has a portfolio of almost 200 machines nationwide. They are operational in California, Oklahoma, Nevada, Texas, Louisiana, Missouri, New Jersey, New York, Pennsylvania, Tennessee, Arizona, Georgia, Rhode Island, Connecticut, and Massachusetts. Coinsource prides itself in providing convenient, seamless access to the world’s leading digital currency, now with a total market capitalization of $175 billion USD. Given the rapidly evolving fintech industry, Coinsource has focused heavily on building a world class compliance and consumer protection program, multi-tier high touch support, and a service that supports millions of unbanked and underbanked Americans. The company is planning international expansion, as well as making significant machine installations in many US states. Coinsource is rolling out its new in-house software stack, which is capable of faster, easier bitcoin transaction confirmations, as well as potential integrations with bill pay and other digital currency buy and sell functionality.