Coinme has launched an expansion of its operations in Florida by installing over 300 Coinstar Kiosks enabled with Bitcoin. Coinme now runs more than 6000 Bitcoin ATMs across the United States.
Coinme, a US-based operator for Bitcoin, announced that they were expanding their operations into Florida. To this end, the company launched over 300 Coinstar Kiosks that were enabled for Bitcoin. These ATMs have been distributed across various state cities, including Orlando, Miami, Tampa, and Jacksonville.
The ATMs were strategically located in major grocery outlets such as Winn Dixie, Harveys, and Fresco y Mas. By doing this, Coinme aims at making Bitcoin readily available as a payment method in groceries around the country.
A significant move for the company
In the press release dated April 7, 2021, Coinme stated that its team was committed to working with regulating agencies in launching the bitcoin-enabled Coinstar kiosks around Florida. The company added that they had been licensed to provide a platform where Florida residents would easily trade with Bitcoin.
According to Neil Bergquist, the CEO of Coinme and also the co-founder, the partnership with Coinstar will power the firm’s expansion into new areas. This partnership will also help them meet the increasing demand for the use of digital currencies.
The announcement referred to a recent survey done by Coinstar, in which they revealed that 23% of people who bought Bitcoin did so from a Bitcoin ATM. The increasing demand for Bitcoin had also pooled many first-time investors searching for a safe and secure way to purchase this cryptocurrency. With Bitcoin-enabled Coinstar kiosks, Florida residents now had an easy and safe way to purchase Bitcoin.
The expansion of Coinme comes at a perfect time when the retail demand for Bitcoin and other cryptocurrencies is increasing. After a bullish trend in Bitcoin during the first quarter of 2021, its price is almost $60,000. However, Coinme needs to launch campaigns that will push people towards using Bitcoin ATMs.
The use of Bitcoin ATMs remains to be generally low. This low demand is a result of these kiosks charging higher fees as compared to cryptocurrency exchanges. However, a significant percentage of people still preferred purchasing cryptocurrencies from Bitcoin ATM kiosks.
Coinme runs the biggest cryptocurrency exchange in the United States. It is fully licensed and was founded in 2014. Coinme’s objective is to make sure that it is easy, secure, and accessible for people to purchase digital currencies.