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Coinsource Installs Its First Bitcoin ATM in San Francisco

Last Updated March 4, 2021 4:47 PM
Lester Coleman
Last Updated March 4, 2021 4:47 PM

Coinsource, a bitcoin ATM network, has installed its first bitcoin ATM in San Francisco, in a grocery store in the city’s Mission district, according to SFist.com . The installation marks the network’s 18th ATM from New York to California.

The San Francisco installation demonstrates the San Diego, Calif.-based company is following through on its expansion plans CCN.com reported in November when it made its second New York City area installation.

The earlier CCN.com report noted Coinsource was one of 22 companies that secured a New York State BitLicense at the time.

Coinsource Provides Service

The company provides high-touch support through its website, social media channels and email, company managing partner Sheffield Clark noted. A Coinsource local representative provides on-the-ground support.

Clark said Coinsource makes private compensation arrangements for locations hosting its ATMs.

According to its website , Coinsource now has eight ATMs in New York City, one in Brooklyn, N.Y., one in Jamaica, N.Y., two in Las Vegas, one in Philadelphia, Pa., one in Dallas, Texas, one in Ft. Worth, Texas, one in Palo Alto, Calif., and one in San Diego, Calif.

Also read: Coinsource installs its second BTC ATM in the New York City area

San Francisco’s Third Bitcoin ATM

Coinsource spokesman David Wachsman told SFist that there are currently two other bitcoin ATMs in San Francisco, also in the Mission district, both of which are in the same location. The Coinsource machine in Mission Groceries is the only one in the city available until 2 a.m., Wachsman noted.

Clark said the company’s machines feature cutting-edge security standards and provide instantaneous transfers compatible with any mobile bitcoin wallet.

Coinsource’s GenesisCoin bitcoin ATM offers bitcoin with rates starting at 7% that get lower with higher volume purchases, according to The Merkle. 

Mission Groceries is located a block and a half from the 16th and Mission stop on the BART, two blocks from the 16th Street and Hoff parking garage.

Featured image from Shutterstock.