CoinSource is making a grand entry into Washington DC installing 20 Bitcoin ATM’s in the District of Colombia and Maryland. This is surely a boost and timely for Bitcoin as CoinSource look to increase Bitcoin transactions in the US capital and surrounding centers.
Washington DC Insatiable Demand for Bitcoin
CoinSource claim the demand from local users and businesses is significant and they expect a widespread adoption of Bitcoin. To improve access, installation of these Bitcoin ATMs will be at strategic locations throughout the capital.
Already, CoinSource have a solid plan in place. To meet demand, the company will install 12 Bitcoin ATMs in Washington DC, 5 in Baltimore and one in Towson, Oxon Hill and Takoma Park. Because of this, CoinSource shall have one of the largest Bitcoin operating networks in DC.
Talking to Cryp2Geeks, CoinSource CEO Sheffield Clark said:
“Our goal is to give everyone the equal ability to access Bitcoin, particularly in times of record demand, and participate in this soaring new economy. Part of making this marketplace accessible is making sure our fees are less than half that of any other operator, and customers will be given fee-free transactions for first-time use of any new machine.”
Favorable Cryptocurrency and ICO Regulations
It won’t be hard for CoinSource to carve out their market share. Before making this strategic move, there were 5 other Bitcoin ATM operators across the city. Even though the competition is stiff, it’s the regulatory environment that would make it easier for penetration.
A while back, Washington DC hosted a hearing to examine cryptocurrencies and ICO markets. Overseeing this was the subcommittee of the U.S House of Representatives Financial Services Committee.
From this series of events, it’s obvious that Washington DC is not new to cryptocurrency and it’s functioning.
CEO of CoinSource Sheffield Clark agrees saying:
“We are meeting Washington D.C. at an inflection point. regulators are Actively looking at value and potential of Blockchain technology. All innovation over time has passed through our Nation’s Capital in one way or another”
With this new addition a total of 182 CoinSource ATM machines will be in operation in 18 states.