Coinsource, America’s largest Bitcoin ATM network, has completed a bulk installation of 11 new machines in Texas in the last 8 weeks alone.
Texas became the fastest growing state for new Bitcoin ATMs in Q4 2016 in the United States after the installation and launch of eleven new machines across the state. Coinsource’s machines in numbers increased from 3 to 14 from October to accommodate a surge in trading volumes in the South of the country, as demand rises alongside bitcoin’s value over the past few months.
“I truly believe there is a rapidly growing demand for bitcoin in general, not just the bitcoin ATM industry,” says Coinsource CEO Sheffield Clark speaking to CCN, further explaining why Texas is market ripe for adoption of the world’s foremost digital currency.
We made a substantial installation in Texas because we saw it as a high growth market. Texas’ economic engine is like no other state in the USA and we saw big cities like Dallas and Houston as a hub for rapid bitcoin adoption.
Clark explains that the ATM operator is increasingly adding more locations geographically in key population centers.
In fact, it has been difficult to meet such intense demand but we are scaling as best we can; we’ve implemented the right procedures, we’ve focused attention on compliance and convenience, and we’ve hired the right staff to keep servicing an exponentially growing customer base.
The addition of a whole new batch of BTMs now sees Texas with the third highest concentration of Bitcoin machines per state, after California and New York.
Sheffield Clark and Bobby Sharp, two of Texas-based Coinsource’s three co-founders, are Texans and have also installed the state’s first two-way bitcoin ATM – enabling users and adopters to buy and sell the cryptocurrency – in Fort Worth, where Coinsource is also headquartered.
“Our main focus if fulfilling the needs of our customers, and we carefully monitor and consider trends, vehicle and foot traffic, and opening hours when installing our new machines,” Clark revealed.
Altogether, Coinsource operates 67 machines in total across eight states and is looking to chalk up 70 by the year’s end.
According to Bitcoin ATM resource CoinATMRadar, total of 908 Bitcoin ATMs are operational around the world, spread across 54 countries.
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