As one of the largest Bitcoin ATM operators in the US, Coinstar has around 6000 ATMs installed in the country in more than 45 states. With this move, Coinme aims to shorten the gap between residency in Florida and bitcoin.
Now more residents of the state will have the ability to buy bitcoin, especially at the retail level. These bitcoin cash machines are intentionally placed in strategic locations, primarily in malls and grocery chains across Florida.
However, despite this, and other similar initiatives around the world, Bitcoin ATMs have remained unpopular in the market. One of the main reasons for this is the fees that ATM companies charge for bitcoin transactions. These commissions are much higher than those charged by cryptocurrency platforms. However, with ATMs, transactions are much easier. Also, the demand for retail cryptocurrency is skyrocketing at the moment, and similar moves are adding to the upside. This is why companies like Coinme are expanding into densely populated areas.