The number of Bitcoin ATMs in the ‘City of Angels’ has gone up. Coinsource, the Bitcoin ATM network has announced that it has added seven new Bitcoin ATMs to its network in Los Angeles recently. At the same time, Las Vegas received 2 more of these machines.
Even though the number of Bitcoin ATMs is gradually increasing, they are still a rare sight. This makes the installation of seven Bitcoin ATMs in Los Angeles area and two more in Las Vegas by Coinsource the largest single installation to date in the digital currency’s history. According to the company’s press report, Coinsource has become the largest Bitcoin ATM operators in the West Coast region with 16 operational Bitcoin ATMs in the network located around San Francisco, Silicon Valley, Los Angeles, Las Vegas and San Diego respectively.
CoinSource boasts of offering the lowest fee among all the Bitcoin ATM networks. Currently, the fee for buying bitcoin over the Coinsource Bitcoin ATM is fixed at 8 percent with special lower fees for regular and bulk purchases respectively. The newly installed Bitcoin ATMs were manufactured by GenesisCoin, one of the leading names in the industry.
Bitcoin ATMs are a symbol of convenience, signifying the journey of digital currency towards the mainstream banking and financial system. Until now, ATMs have been one of the major components of the conventional banking network. Currently, almost every block in the city has an ATM, where people can withdraw or deposit cash instead of going all the way to their bank branch to do so. When introduced, the ATMs were a mark of the banking revolution, just like debit cards and electronic payments.
The Bitcoin ATMs are a bridge between two different monetary systems in the physical world. It is the place where fiat currency from the traditional economy meets bitcoin from […]
