CoinSource Installs Bitcoin ATM in Staten Island

CoinSource Installs Bitcoin ATM in Staten Island
CoinSource Installs Bitcoin ATM in Staten Island
CoinSource Installs Bitcoin ATM in Staten Island

Staten Island has got a Bitcoin ATM which has been installed by CoinSource, a company that promises to provide the first tangible exposure to Bitcoin for most of the 22 million people who travel to and from Staten Island every year. Staten Island is one of the five boroughs of New York City, in the U.S. state of New York, located in the southwest part of the city.

CoinSource BTM not just provides one of the only Bitcoin ATMs in lower Manhattan but the company also offers attractive rates to customers with standard fees at 7%. The company claims that there are additional advantages for some users; for instance, large purchasers and high volume customers can access even further reduced fee levels.

Nonetheless, CoinSource that promises for the secure and safe BTM network with instant transactions claims that Bitcoin ATM in New York City at the Staten Island Ferry’s Whitehall Terminal is aimed at catering the millions of users who were left untouched from the Bitcoin revolution. Though the place has huge hip crowd, it was lacking a Bitcoin ATM so far.

In the announcement the company says that the decision was made to place the Bitcoin ATM strategically at the southern tip of Manhattan’s crowded and affluent Financial District. This is an addition to the list of the Bitcoin ATMs that it has already installed in Las Vegas and Chicago. The BTMs at these places are working just fine, informs the company.

CoinSource Got BitLicense for the Operations

It appears the CoinSource network liquidity is also a partner of Coinsetter, the ECN style Bitcoin exchange. Thus, it has been developing partnership for the greater expansion and reach to the new segment of Bitcoin customers. CoinSource Managing Partner Sheffield Clark admitted that CoinSource is proud to open its third BTM to the public at the Staten Island Ferry Terminal.

Clark was quoted saying that over 22 million people per year travel between boroughs through the Staten Island Ferry, and for many, the high tech, easy-to-use CoinSource BTM will be their first tangible exposure to digital currency. Nonetheless, as CoinSource recently submitted its application for BitLicense, it won’t face any troubles from regulations.

Interestingly, CoinSource is one of only 22 companies to file for BitLicense and according to Clark they are permitted to fully operate in New York State. Nonetheless, Bitcoin ATM users can have total confidence in using CoinSource machines which not just provide convenient, instantaneous transfers but also comply with the law.

To contact the reporter of this story: Deepak Tiwari at