While Capitol Hill takes a closer look at this emerging asset class, Coinsource enters the D.C. market
Washington, D.C. – March 27, 2018 – Coinsource, the world’s largest Bitcoin ATM network, today announced its first expansion into the Nation’s capital. Coinsource will install 20 machines across the District of Columbia and Maryland after receiving significant demand from Bitcoin users and local merchants. This installation caps off a successful first quarter for the company after launching 10 machines in Rhode Island, New Hampshire, and Massachusetts in early February. Additionally, Coinsource introduced eight new machines in Denver, Colorado last week.
“We are meeting Washington D.C. at an inflection point, where regulators are looking at the value and potential of decentralized currencies and blockchain technology,” said CEO of Coinsource Sheffield Clark. “All innovation over time has passed through our Nation’s Capital in one way or another, and we are happy to be now servicing Washington D.C. and the surrounding communities so that they can have easy access to buying and selling Bitcoin.”
Washington D.C. is no stranger to cryptocurrency and its implications. Earlier this month, a subcommittee of the U.S. House of Representatives Financial Services Committee held a hearing examining cryptocurrencies and ICO markets, while The Chamber of Digital Commerce hosted its third annual D.C. Blockchain Summit. Additionally, several local restaurants, bookshops, and record shops have been accepting Bitcoin as payment since last year.
Currently, Washington D.C. has five machines being serviced by five different operators. With this deployment, Coinsource will be the largest Bitcoin ATM operating network in the D.C. metropolitan area. D.C.’s 20 new Bitcoin ATMs include 12 in Washington D.C., 5 in Baltimore, 1 in Towson, 1 in Oxon Hill, and 1 in Takoma Park.
CMO of Coinsource, Bobby Sharp, said, “We are expanding the Bitcoin ATM market further than it’s ever been in D.C., offering the lowest rates, exclusive remote enrollment and allowing for at-home account registration. This installment is especially significant to Coinsource, as the philosophy behind decentralized currency is and has always been about giving freedom back to the people. As a company I feel that we have been able to provide financial freedom to the underbanked and unbanked, and I am happy to bring our services to D.C.”
Coinsource services 164 million residents across the country and currently has almost 200 machines in 17 states; California, Oklahoma, Nevada, Texas, Louisiana, Missouri, New Jersey, New York, Pennsylvania, Tennessee, Arizona, Georgia, Rhode Island, New Hampshire, Massachusetts, Colorado, Maryland, and the District of Columbia.
Coinsource Washington, D.C. Locations:
- Benning Market
2001 Benning Rd. NE
Washington D.C., 20002
- Exxon Gas Station
1 Florida Ave., NE
Washington, D.C., 20002
- Mac Market
5105 Macarthur Blvd.
Washington, D.C., 20016
- Shell Gas Station
4940 Connecticut Ave. NW
Washington, D.C., 20008
- Petworth Market
3715 Georgia Ave. NW
Washington, D.C., 20002
- Eabald 2llc
6350 Georgia Ave. NW
Washington, D.C., 20011
2642 Virginia Ave. NW
Washington, D.C., 20037
CMO of Coinsource, Bobby Sharp, is available for interview.
Coinsource is the world’s largest Bitcoin ATM network. Founded in 2015, the Texas-based company gives any person the ability to buy and sell bitcoin with US dollars at physical kiosks located around the country. Coinsource now has a portfolio of almost 200 machines nationwide. They are operational in California, Oklahoma, Nevada, Texas, Louisiana, Missouri, New Jersey, New York, Pennsylvania, Tennessee, Arizona, Georgia, Rhode Island, New Hampshire, Massachusetts, Colorado, Maryland, and the District of Columbia. Coinsource prides itself in providing convenient, seamless access to the world’s leading digital currency, now with a total market capitalization of $135 billion USD. Given the rapidly evolving fintech industry, Coinsource has focused heavily on building a world class compliance and consumer protection program, multi-tier high touch support, and a service that supports millions of unbanked and underbanked Americans. The company is planning international expansion, as well as making significant machine installations in many US states. Coinsource is rolling out its new in-house software stack, which is capable of faster, easier bitcoin transaction confirmations, as well as potential integrations with bill pay and other digital currency buy and sell functionality.