Coinsource Installed 20 New Bitcoin ATMs in Georgia

Nishanth Shetty

December 5, 2017 7:10 am

Coinsource Installed 20 New Bitcoin ATMs in Georgia | Coindelite News
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Bitcoin News

Texas-based Bitcoin Automated Teller Machine (ATM) company Coinsource has installed 20 new Bitcoin ATMs in the US state of Georgia in the beginning of December 2017. As of new machines, 18 machines were launched in the city of Atlanta, and two other machines were installed in neighboring college town of Athens.

Sheffield Clark, Coinsource Chief Executive Officer (CEO) says that their objective in the project is to provide every citizen in the state to access the top virtual currency Bitcoin and to participate in the skyrocketing new economy.

Clark said:

“This is a major opportunity not only for Coinsource but for the cities of Atlanta and Athens as well. Atlanta is one of the most mature Bitcoin ATM markets in the country, so it’s exciting to provide our services to people already showing accelerated adoption of the technology. Our goal is to give everyone the equal ability to access Bitcoin, particularly in times of record demand, and participate in this soaring new economy. Part of making this marketplace accessible is making sure our fees are less than half that of any other operator, and customers will be given fee-free transactions for first-time use of any new machine.”

Current situation of the banking  in Georgia

According to the US Federal Deposit Insurance Corp. (FDIC)’s survey, seven percent of nine million of the total residents in the US are unbanked and another 19.9 percent or 24.5 million of the households are underbanked.

The city of Atlanta is among those included in the top 10 most unbanked cities in the country. More than 2 in households in the city are not involved with the conventional banks, while around thirty percent of the residents are unbanked.

Clark describes, these unbanked and underbanked residents have to depend on other kinds of services such as pawn shops,check-cashing, and payday loan providers to secure the cash and the credit.

He described:

“Around 30 percent of residents are underbanked, meaning they might have to check accounts, but have to rely on other kinds of services like pawn shops, check-cashing, and payday loan companies to get cash and credit.”

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