Coinsource Brings Bitcoin ATMs To The Midwest

Coinsource, the largest network of bitcoin ATMs in the United States, recently announced it placed three new machines in St Louis, Missouri — the company’s first foray into the Midwest market.

Coinsource CEO Sheffield Clark was quoted as saying: “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. In 2016, we were installing bitcoin ATMs at an average of 1.2 machines per week. We hope to double that this year.”

Founded in Feb. 2015, Coinsource debuted its first kiosk in the Miracle Mile Shops in Las Vegas. Including the three new machines, Coinsource now has 80 machines in nine states the U.S.

Also on the radar for 2017 are potential new Coinsource ATMs in Maryland, Massachusetts, Washington, D.C., and Minneapolis.

“By the end of 2017, I think we could potentially be in 15–20 states,” said Bobby Sharp, cofounder and CMO of Coinsource, in a past interview with PYMNTS. “Possibly even a couple of other continents by 2018. We definitely have some company goals to explore outside the United States. It’s fascinating when you see how some countries, like Switzerland, are exploring and accepting bitcoin. And India could be a cryptocurrency monster.”

In addition to expanding into new markets, Coinsource has made it a goal to augment the functionality of its current and new machines in 2017. The company is looking to add more financial services and platforms, as well as to increase the number of two-way machines nationwide.