Coinsource has added nine bitcoin ATMs in Los Angeles and Las Vegas, making it the largest ATM network on the West Coast. The installations mark the company’s largest single rollout.
The expansion into Los Angeles will benefit bitcoin enthusiasts in Southern California, according to Sheffield Clark, company CEO and co-founder. He called the rollout of seven machines in Southern California a significant logistics achievement. Coinsource will bring more options to both veterans and novices of bitcoin.
Clark said he expects to see bitcoin as commonly used as credit cards or cash.
Growth In Southern California
Southern California has the second highest concentration of Coinsource machines, with seven in Los Angeles and three in San Diego. The highest concentration is in the greater New York City area, which is home to 12 Coinsource machines.
There are four Coinsource machines in Las Vegas, two in San Francisco, Calif, two in Dallas/Fort Worth, Texas, and one in Philadelphia, Pa.
The continued expansion demonstrates that the San Diego, Calif.-based company is following through on the plans CCN.com reported in November. The report noted Coinsource was one of 22 companies that secured a New York State BitLicense.
The Coinsource machines are manufactured by Genesis Coin Inc., the industry leader with 32.25% of all bitcoin ATMs worldwide, according to CoinATMRadar.com, which tracks bitcoin ATMs globally.
Bitcoin ATMs Grow Globally
Bitcoin ATMs have continued to increase globally at a steady rate, according to CoinATMRadar.
There are currently a total of 40 bitcoin ATMs in the Los Angeles area, making it the second largest concentration of machines in the U.S. after New York City, which has 60, according to CoinATMRadar.
CoinATMRadar lists a total 648 machines globally, with most in the U.S.
Images from Shutterstock and Coinsource.
Last modified: March 4, 2021 4:48 PM