Technology

Bitcoin ATM Provider Coinsource Launches New ATM Software

Coinsource, the world’s largest Bitcoin ATM network, has today announced the launch of a new proprietary software that will eliminate third-party providers, reducing bitcoin transaction delays, supporting bill pay functionality, and enabling fee-free purchases for first time users.

The new software will boost user experience at the network’s current 200 machines across 15 states. Regardless of age or technical expertise, the software upgrade will make the mobile app and the kiosks accessible to all users, providing the underbanked with access to the lucrative crypto market. The software implementation is expected to accelerate Coinsource’s 2018 strategy to expand its current network to 400 ATMs across 25 states by the end of the year.

bitcoin cash increases
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Please find below the official press release detailing the new software roll out.

See the official press release below

Coinsource Launches New Bitcoin ATM Software; Readies For Global Expansion and Future Token Additions
World’s largest Bitcoin operator improves customer experience at the terminal, and introduces fee-free transactions for first time users

New York, NY – January 23, 2018 – Coinsource, the world’s largest Bitcoin ATM network, has unveiled a new in-house software stack that will significantly improve the user experience at each of their nearly 200 machines across the nation. Previously powered by a third-party software, the new Coinsource proprietary software will reduce Bitcoin transaction delays, improve QR code scanners, support bill pay functionality in the near future, and introduce a one-time promotion for fee-free purchases for first time users.

Coinsource CEO Sheffield Clark said, “Moving away from third-parties is one of the fundamental principles of Bitcoin, so it is only fitting that we created our own technology to streamline access to our generation’s fastest growing digital asset.The technology makes visits to our ATMs much quicker and easier, and it allows for seamless integration of additional products and services such as other digital currencies to be added in the future. As our customer base continues to grow at unprecedented rates, we are focused on continually improving our services, as well as expanding into new cities, states, and countries across the world.”

Currently, Coinsource offers the lowest fees of any Bitcoin ATM operator, with transaction fees never going over 8 percent in costs. And as part of the company’s 2018 “New Coinsource Experience” initiative, the company’s move to in-house software is helping the company refine the Coinsource ATM and mobile enrollment user experience so that users of any age or technical expertise can easily use its services. The software will be operable in all US states, and in any country across the globe, as well as allow for future integrations of digital currencies at Coinsource’s terminals.

Coinsource’s 2018 growth strategy includes expansion into 25 US states, with over 400 machines across the country. They currently have almost 200 machines in 15 states; California, Oklahoma, Nevada, Texas, Louisiana, Missouri, New Jersey, New York, Pennsylvania, Tennessee, Arizona, Georgia, Rhode Island, New Hampshire, and Massachusetts.

“Even though the number of digital currency traders, investors, and enthusiasts increases by the day, there are still hundreds of millions of people around the world that don’t have the technological know-how to get involved. We have built our company around breaking down the barriers to entry, and facilitating access in a way that almost anyone can understand, and in a way that they are already accustomed to. Our new mobile enrolment feature allows anyone to sign up to a Coinsource account remotely, from any device in the world, and activate a free first time transaction,” Clark said.

America is the largest market for Bitcoin ATMs across the globe, with a total of 1352 machines. There are 2098 machines across the world.