In response to significant demand from local users and merchants, Washington DC has installed 20 Bitcoin (BTC) ATMs across the US capital. A Texas-based Bitcoin ATM network, Coinsource, rolled out the machines.
In the Maryland and Columbia districts, the machines were added in response to high demand and are being positioned in convenient locations. Other locations such as Washington DC, Baltimore, Towson, Oxon Hill and Takoma Park will also be playing host to the Bitcoin ATMs.
From paper money to Bitcoin
Bitcoin ATMs are a global phenomenon, breaking down the entry barrier of identity verification by allowing the public to put in cash or a debit card to purchase BTC immediately. At present, the US has over 1,700 crypto ATM locations with approximately 40 of those existing in its capital.
Sheffield Clark, CEO of Coinsource, explained:
“We are meeting Washington DC at an inflection point, where regulators are looking at the value and potential of decentralized currencies and blockchain technology. 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 DC and the surrounding communities so that they can have easy access to buying and selling Bitcoin.”
Bitcoin ATMs are being installed at a feverish pace and the US is the current leader in deployment and use of these. Previously, Washington had only five serviced Bitcoin ATMs provided by five different operators.
CMO of Coinsource, Bobby Sharp, said:
“We are expanding the Bitcoin ATM market further than it’s ever been in DC, offering the lowest rates, exclusive remote enrolment and allowing for at-home account registration. This instalment 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 DC.”
Ease of access
Using a Bitcoin ATM is easily one of the fastest and easiest ways to buy and sell BTC; users often just feed bank notes into the machine or use a regular debit or credit card transaction, after which they receive a physical paper receipt with a QR code on it. Users are then able to scan that code into any wallet and complete the transaction.