RATE Group | Bitcoin ATM business booming as Coinsource expands to 600 machines
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Bitcoin ATM business booming as Coinsource expands to 600 machines

13 Feb Bitcoin ATM business booming as Coinsource expands to 600 machines

Posted at 04:32h in Bitcoin News by

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In less than a week, the record for most Bitcoin ATMs operated under a single network has been broken again. Coinsource, a Texas-based ATM provider in business since 2015, announced yesterday that it has doubled its network to 600 crypto ATMs.

“It took us 4 years to deploy 300 machines, but it took less than two months to reach 600,” Coinsource CEO Sheffield Clark said in a press release.

The push from Coinsource may have something to do with last week’s news that its primary competitor, Bitcoin Depot, had become the first network provider to surpass 500 ATMs. 

Coinsource bills its Bitcoin ATMs as a platform as a service (PaaS), similar to software as as a service (SaaS), which provides ATM buyers access to compliance and licensing help, customer support, and armored car services. 

The company also said that they have partnered with traditional ATM providers, such as National Cash, as legacy players have found it difficult to navigate new crypto regulations. 

“Because…

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