Coinme is a blockchain-powered company whose main objective is to help more people benefit from Bitcoin by providing technologically advanced Bitcoin ATMs. Unlike in the past when getting bitcoins was a painful and time-consuming process, you can now convert your fiat cash into bitcoin at any of the Bitcoin ATMs in a simple 4-step process.
Increase in Bitcoin ATMs across the United States
Coinme is the largest Bitcoin ATM operator in the world. Since its inception, it has gained a massive reputation in and outside the cryptocurrency industry. One of the attributes that give it a higher cutting edge in the market is that the ATMs are 100% secure and easy to use. In fact, no prior experience is needed to purchase your first bitcoin from these ATMs.
Notably, the company started to sell Bitcoin way back in 2014 and has continued to expand its reach to more than 2,000 locations across the United States. Recently, it partnered with Coinstar, a coin kiosk operator to speed up the adoption of Bitcoin ATMs in the country.
The beauty of the blockchain industry is that if your product or service fills a gap and make it convenient for the target customers to benefit from the tech, it is quickly embraced. For example, Coinstar only started to sell Bitcoin for USD this year in January and has managed to get thousands of customers in the US market.
In the recent press release, the CEO and co-founder of Coinme, Neil Berguquist said:
“Bitcoin and other digital currencies offer unique benefits to consumers – including the potential for more cost-effective and faster remittance to family and friends… we’re thrilled to team up with Coinstar to make Bitcoin more accessible to consumers than ever before and offer a key component for the new digital currency economy”.
The partnership resulted in creation of a new feature that is now available in all Coinstar machines. The feature allow clients to convert up to USD$2,500 to Bitcoin through Coinme account. Reports indicate that such trades will be subject to a 4% flat fee.
More than 3,000 Bitcoin ATMs across the US
According to a recent survey conducted by CoinATMRader, there are more than 3,000 Bitcoin ATMs in the United States. The increased accessibility to these ATMs has made it possible for more people in the country to invest in Bitcoin thereby making the United States a global leader in the cryptocurrency space.
Across the border, Canada has less than 700 ATMs but the cryptocurrency market there is also very vibrant. Austria and the United Kingdom have 270 and 240 Bitcoin ATMs respectively.
The CEO of Coinstar, Jim Gaherity, recently told the press that:
“The response to being able to purchase Bitcoin at Coinstar Kiosks has been extremely positive with overwhelming demand by both consumers and new retailer partners. We are incredibly pleased with this collaboration with Coinme and are eager to continue expanding to new markets in the coming months.
The partnership of Coinme and Coinstar Kiosks will fuel adoption of cryptocurrencies in the country especially Bitcoin. We are optimistic that the two companies will be able to launch Bitcoin ATMs in other parts of the world as well that are receptive of Bitcoin such as South Africa and Kenya, the two fastest growing economies in Africa.