Will Bitcoin ATMs be everywhere in the future? Coinsource installed 20 new Bitcoin ATMs in Georgia, USA

In early December 2017, Coinsource installed 20 new Bitcoin ATMs (BTMs) in Georgia, USA. 18 of these 20 Bitcoin ATMs are operating in Atlanta, and two are placed around the university town of Athens.

According to Coinsource CEO Schfeld Clark, their goal is to enable every resident of Georgia to have better access to the big brother of virtual currencies, Bitcoin, and participate in this booming economy.

“This is a great opportunity not only for Coinsource, but also for cities like Atlanta and Athens. Atlanta is the most mature Bitcoin ATM market in the U.S., so it’s exciting to serve the growing number of people who are becoming more aware of the technology in this city. Our goal is to give everyone equal access to Bitcoin and participate in this booming economy at a time when demand is at an all-time high. To be competitive in the market, we must ensure that our transaction fees are more than half of those of other operators, and customers will receive no fees for their first transaction at any new ATM.”

The current banking industry in the United States, especially in Georgia.

According to a survey by the Federal Deposit Insurance Corporation, 7% of all U.S. households (9 million people) do not have bank accounts, and 19.9% ​​of households (24.5 million people) do not have adequate financial services.

Atlanta is one of the top ten cities in the U.S. with the largest number of unbanked people. More than one in ten households do not have an account in a traditional bank, and approximately 30% of residents lack access to adequate financial services.

According to Clark, these unbanked and underserved residents need a variety of alternatives such as pawn shops, cash exchanges, and short-term cash loans to secure access to cash and credit.