Coinsource Passes 100 Bitcoin ATMs with 14 New York Installations

New York has become Bitcoin ATM (BTM) company Coinsource’s second market after it installed 14 machines to take its US total to over 100.

Coinsource, which now controls over a third of the New York BTM market, made the announcement in a press release Friday, coinciding with a record high Bitcoin price.

“Breaking triple digits was earmarked as one of our main goals for our five-year business plan but we’ve reached it several years earlier than expected,” CEO Sheffield Clark commented on the deployment.

“We have many more surprises in the pipeline for 2017 and are currently conducting the groundwork for rapid expansion across the country.”

Clark added that Coinsource is currently offering the “lowest rates on the market” referring to transaction fees for using its BTMs.

Such fees are often considerable, as providers place a premium on the convenience of buying or selling Bitcoins instantly, with amounts up to 10 percent of the transaction total not unheard of.

In March, Coinsource became California’s biggest BTM operator, with the Sunshine State still forming its largest market with 34 machines currently open for business.

“New York will always have a special place in our heart because it was the origin of our first successful Bitcoin ATM,” Clark added.

Worldwide, the number of BTMs is nearing 1,150, with 23 manufacturers and 212 operators serving 57 countries according to data from CoinATMRadar.

Russia recently became a notable new market, the resource currently showing three machines active.