Coinsource, the world’s largest bitcoin ATM network, today announced their first push into the Midwest, by placing three machines in St Louis.
Tapping into the Missouri market, the expansion brings the Coinsource portfolio to over 80 machines nationwide with a 14% total market dominance in the United States.
Coinsource CEO Sheffield Clark said, “After coming off a landmark year in 2016, our sights are set even higher. Bitcoin has seen some fluctuations early this year but I’ve never seen such resilience before and it continues to grow steadily in value, demand and trading volume. We plan to enter as many new markets as possible, especially capital cities and large population centers to continue scaling and matching customer requests. By the end of Q1, we hope to bring our tally to 100 machines.”
With customer satisfaction and user simplicity as the most important ingredients to Coinsource’s success, the Texas based company strategically installs machines in high foot and vehicle traffic areas, and within popular stores open most of the day and night. In St. Louis, Coinsource introduced two new machines in Phillips 66 gas stations, one located at 7498 Delmar Blvd and one located at 4300 South Kings Highway. Both machines are within 10 miles of the city’s center. The third machine was added in the A1 Market at 3336 Pershall Road St. Louis, near the St Louis Community College and the Christian College, leveraging the growing number of millennials using bitcoin for everyday transactions.
Clark added, “It's both challenging and rewarding every time we enter a new state because our business succeeds when we set trends, rather than follow them. We are in 9 states now and will continue to pepper the country with ATMs, as well as upgrade many of our existing kiosks with both buy and sell functionality. In 2016, we were installing bitcoin ATMs at an average of 1.2 machines per week. We hope to double that this year.”
The Coinsource bitcoin ATM network offers amongst the lowest of fees in the industry, with machines active in California, Louisiana, Missouri, Nevada, New Jersey, New York, Pennsylvania, Tennessee, and Texas.