19.9 Percent Of Americans ‘Underbanked’ And Coinsource Launches 20 New Bitcoin ATMs

bitcoin ATMs

Twenty new Bitcoin ATM machines have been installed in the state of Georgia by the Bitcoin ATM network, Coinsource. Eighteen of these machines have been distributed throughout the capital, Atlanta, and the remaining two were placed in the outer suburb of Athens.

Sheffield Clark, Coinsource’s CEO states that their main objective for this project is to provide every resident of the state of Georgia access to Bitcoin, which provides the opportunity to participate in this new skyrocketing technology space.

In a statement, Clark said, “Our goal is to give everyone the equal ability to access bitcoin, particularly in times of record demand, and participate in this soaring new economy. Part of making this marketplace accessible is making sure our fees are less than half that of any other operator, and customers will be given fee-free transactions for first-time use of any new machine.”

The company is currently operating in 12 different states and currently has 136 ATMs total.

According to the FDIC, US Federal Deposit Insurance Corp, Atlanta is among the top 10 most unbanked cities in the US, with one in ten households in the city not involved with any sort of conventional bank and around 30 percent of the Atlanta population is considered ‘underbanked.’ The FDIC’s records also show that 24.5 million American homes are underbanked, which makes up 19.9 percent of the total population.

Clark states that those who are bankless rely on other services such as check-cashing, pay-day loan shops, and pawn shops to secure cash and even obtain credit.

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Chelsea Roh is a freelance content writer living in Vancouver, BC. Her current focus is cryptocurrency, financial analysis and blockchain technology. In addition to content writing, she is an experienced Social Media Manager/Strategist. Before moving to Canada, she spent 10+ years marketing and working hands on in the medical practice industry.