Memphis Gets Its First Ever Bitcoin ATM

By Rebecca Campbell for CryptocoinsNews

Coinsource, the bitcoin ATM service provider, has expanded its bitcoin ATM’s, launching the first-ever into Memphis, Tennessee, according to the Memphis Flyer blog.

The bitcoin ATM is located on the corner of South Dudley Street and Dr. Martin Luther King Jr. Avenue.

According to Sheffield Clark, Coinsource CEO and co-founder, he said:

Many thousands of Americans have begun to realize that bitcoin is becoming a stable payment option and a lucrative form of investment as well.

As bitcoin continues to grow in popularity around the world, so do the number of bitcoin ATMs that are dotted around the U.S. and internationally as well.

Figures from the Bitcoin ATM tracking site, CoinATMRadar.com, it shows that there are currently 858 bitcoin ATMs in total around the world with the U.S. dominating the field with 482. Not only that, but it’s reported that since the beginning of 2016, Coinsource have installed 1.2 bitcoin ATM’s per week.

At present, Coinsource is leading the way with the number of bitcoin ATM’s as it currently has 60 of them located across eight states including New York, Louisiana, and California.

Coinsource is the Largest Bitcoin ATM Operator

In August, Coinsource became the largest bitcoin ATM provider after installing four new bitcoin ATM’s in New York, Nevada, and Pennsylvania with one installed in Staten Island, one in Las Vegas, and two in Philadelphia.

Realizing the demand and potential that the digital currency is presenting, Coinsource are set to continue providing the machines wherever they are needed by the public.

Clark said:

The most rewarding part of our job is to answer the call when requests come in for new locations, so it is exciting to make history in Tennessee. Our reach in the South is growing. We see huge potential for bitcoin in Tennessee, and look forward to supporting the community long into the future.

With the price of bitcoin rising in November and Donald Trump as the U.S. president-elect further boosting the price of bitcoin, now seems to be a good time to invest in the digital currency. With many unsure what the future will hold for fiat currencies in the future, many seem to be turning to digital currencies as an investment option, thus helping to raise the adoption of the digital currency.

Of course, regardless of the future, it seems that Coinsource are set to dominate the field of bitcoin ATM’s by answering the needs of the public and installing the machines in popular cities and small towns.

First appeared at CCN