- Coinsource expands its footsteps
- The only licensed BTM in Alaska
- Will provide increased security to users
Coinsource, the ATM for Bitcoin, is expanding its footprints and is now available in Alaska, according to Forcast News. Coinsource has obtained the license to operate Bitcoin ATM in Alaska, the only BTM to receive it in Alaska. Four other operators are also working in Alaska but do not have the license to do so.
BTM or the Bitcoin ATM was launched in 2015 by Coinsource. Today there are hundreds of ATMs across the US along with BTM. The BTM or Bitcoin ATM allows users to use cash to buy Bitcoins or sell Bitcoins for cash. Regular online exchanges are slow and often take weeks before the user gets his money. BTM’s can accomplish the same task in a fraction of the same time.
Offers better security in comparison to other BTM operators
Coinsource has obtained the license to operate BTM’s in Alaska. In other words, The Alaska Division of Banking and Securities license is a certificate that the BTM’s engage in legal and ethical business practices. It must be mentioned here that one can operate a BTM without a license. However, it does not guarantee that the users are not at risk of financial loss.
Coinsource BTMs within a 15-minute drive
Forcast. News. Quoting Coinsource sources reports that three-fourths of the US population can avail BTM services within a 15-minute drive. As the cryptocurrency business swelled by more than 177% in 2020, Coinsource triple the number of BTM’s is operated in the US.
BTM’s could become outdated like the ATM’s
With a steep rise in the use of e-wallets along with the adoption of digital transactions, ATMs are becoming redundant and outdated. Experts suggest that the same can happen with BTM’s and over time will become obsolete and redundant. Despite Coinsource’s upbeat outlook for the BTM business, the growing adoption of digital transactions using e-wallets has led some finance industry observers to suggest that ATMs and BTMs may become outdated.