News

Bitcoin ATMs arrive in Louisiana, New Jersey

June 15, 2016

Bitcoin ATM network Coinsource has deployed its bitcoin ATM in New Orleans and in Newark and Jersey City, New Jersey. The company has rolled out a total of 35 ATMs in seven states, according to a press release.

The ATMs were manufactured by GenesisCoin and offer fees starting at 8 percent. According to Coinsource CEO Sheffield Clark, the demand for bitcoin ATMs is being driven by the increasing price of bitcoin.

"Bitcoin was the best performing currency of 2015 and it's only done better in 2016. With more use cases for it every day, more and more people want to buy in,"
 Clark said. "Bitcoin's value increased by almost 20 percent last week alone to a 22-month high, and many experts are predicting even further growth in the future. Our team wanted to solve the accessibility problem for bitcoin with the New Orleans community, and we are excited to offer our services to new and existing bitcoin users."

With the two new ATMs in New Jersey, Coinsource now has a total of 15 ATMs on the East Coast. "We receive many transactions on our New York-based machines and wanted to more conveniently service our New Jersey residents," Clark said. "Our first Newark machine is strategically located in a busy area and within 25 minutes of Newark International Airport, making it a great low-fee option for travelers and tourists alike."