Bitcoin ATM Coinme Strengthens Coinstar Kiosk Partnership to 2,200 Locations in 21 States
As cryptocurrency becomes more widely used across the world, several services are also increasing in popularity and one of these is Bitcoin ATMs as more people are exchanging fiat for crypto and more merchants are accepting cryptocurrency as a form of payment. This is good news as bitcoin ATM operators are seeing their profits increase and their businesses expand across the globe.
One of such operators is Coinme who have announced via press release on May 22, 2019, that they have expanded the operations in the United States to 21 States.
“Bitcoin and other digital currencies offer unique benefits to consumers — including the potential for more cost-effective and faster remittances to family and friends,” said Neil Bergquist, Coinme cofounder, and CEO. “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.”
Coinme was the first licensed bitcoin ATM operator in the United States in 2014 and now have the largest bitcoin kiosk network in the entire world and their locations have gone from 70 to 2,200 and this was as a result of this collaboration of the Coinstar. Coinstar services have been expanded to a total of 21 states in the United States and include locations such as Boston, Chicago, Dallas-Fort Worth, Houston, Los Angeles, Philadelphia, San Diego, Seattle, and Washington D.C. The Coinstar machines allow users to convert up to $2.500 into bitcoin using the Coinme account and are subject to a 4% flat fee.
Nowhere But Up
While it is remarkable that Coinme and Coinstar have been able to see such progress in the last few years, it ties directly into the growth of cryptocurrency which has been steady and does not seem to slow down anytime soon. A lot of the attention given to cryptocurrency these days focuses on it as a trading tool or a financial asset, especially considering how volatile the industry is. However, while is a valid form of trading it is also a currency and as it grows in popularity even as a trading tool, it is slowly finding its ground as a medium of exchange. A such, there is much more demand for bitcoin ATMs today than it was in 2014 when Coinme first began.
With several moves being made towards adoption such as major merchants accepting cryptocurrency and whatnot, one can only imagine the amount of progress that will take place over the next decade and how many more bitcoin ATMs there is room for. Should crypto reach the levels of acceptance it is looking for, we could be looking at a future where bitcoin ATMs are just as common as regular ATMs or even integrated into all ATMs. According to the management at Coinme, the response to the new bitcoin ATMs has been a positive one all across the board.
“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,” said Jim Gaherity, Coinstar CEO. “We are incredibly pleased with this collaboration with Coinme and are eager to continue expanding to new markets in the coming months.”