US crypto ATM usage up 40%

The American company Coinstar services more than 3’500 crypto ATMs and, due to the increase in their useby 40% during quarantine, and plans to double their number within a year.

World's largest supplierCrypto ATM Coinme will increase the number of its BTC ATMs at Coinstar locations, a network of precious metals coin purchase locations in the United States. The company's expansion comes amid a surge in demand during the ongoing pandemic.

Coinstar has over 3’500 ATMsCoinme in its kiosks located in supermarkets, large shopping centers and pharmacies. As supermarkets and pharmacies remained open and accessible during lockdown, people took the opportunity to look at Bitcoin with renewed interest.

Head of Coinstar Division MichaelJack stated that plans to double the number of Coinme crypto ATMs will be completed in a year. The startup is also weighing options for potentially launching several hundred machines in the short term, although it hasn't indicated when that might happen.

The company says the growth in the number of crypto ATMs in the region has been significant, but over the past two months, around 40% of all transactions were made by those using the machines for the first time.

On Thursday, Coinme announced that as part ofThe ongoing Series A funding round has raised $10 million. Participants in the round include Pantera Capital, Coinstar, Nima Capital and Blockchain.com Ventures. Pantera Capital led investors with a $5.5 million investment, strengthening its position on Coinme's board of directors.

With the growing use of Bitcoin in LatinAmerica, Coinme has set itself the goal of creating a complete infrastructure that ensures the smooth transfer of funds from fiat to crypto. As CoinJournal writes, cryptocurrency payments in the region have increased by 60% since mid-February.

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