Coinsource – The Bitcoin ATM Network – is a company which helps those interested in hosting a Bitcoin ATM to get setup. If you own a high traffic location and are looking to bring in new traffic and possibly more revenue, you should consider installing a BTM. Recently Coinsource installed BTMs in three new locations: Las Vegas NV, San Diego CA, and Dallas TX. We had the opportunity to interview the Managing Partner at Counsource Sheffield Clark, about the recently introduced Las Vegas Bitcoin ATM.
1) What made you decide to invest in Bitcoin ATMs?
The Coinsource team believes that bitcoin is a transformational technology and we wanted to do our part to make bitcoin accessible to everyone. We focused on ATMs because the partners at our business either had extensive experience in the bitcoin or traditional ATM space.
2) What made you decided to choose GenesisCoin as your ATM vs the other alternatives?
Genesis Coin has played a major role in making the bitcoin ATM user experience simpler and more efficient, and that easy-of-use is a big part of our mission. The Genesis solution provides an easy to use, seamless process for the user by combining cutting edge hardware with thoughtful, reactive software that allows for a user-friendly experience at the BTM.
Unlike the first generation of Bitcoin ATM’s, Genesis hardware and software have successfully eliminated the tedious biometric elements of the KYC process while simultaneously providing the operator with new and improved ways to implement KYC and AML policies and procedures that more than satisfy regulatory requirements.
3) How did you choose the location in which to place the Bitcoin ATM?
We’re proud to offer the first bitcoin ATM that really serves the Southern Las Vegas and Henderson communities. Since we already had one bitcoin ATM in Las Vegas at the Ketchup Premium Burger Bar in the Miracle Mile Shops, we looked for opportunities in a different geography. We found an ideal location south of the airport at a Shell gas station with ample parking that is open 24 hours a day, 7 days per week. Moreover, it’s right off of the highway and near major retail locations, so it’s easy to get to from anywhere in the area.
Today, Coinsource also introduced a new, more convenient location for our low fee bitcoin ATM in San Diego. It is now located at 4919 Convoy St. at the Mesa Liquor & Wine Co. in the Kearny Mesa community, a terrific location located off of major freeways east of I-805, south of 52 and west of 163.
4) Were you required to obtain any licenses in order to start operating with Bitcoin ATMs?
We are not required to obtain a license in the state of Nevada to operate a bitcoin ATM. We are however, registered nationally with FinCen.
5) What kind of limits to users have when buying and selling Bitcoin at the ATM?
We allow up to $3,000 per day per user when presented with the appropriate identification.
6) What kind of information is needed in addition to a Bitcoin wallet in order to use the ATM?
It all depends on the amount the customer wants to purchase. Over a certain dollar amount, we require a Drivers License to comply with regulatory requirements.
If you are a Las Vegas resident and a Bitcoin enthusiast make sure to checkout the newly installed ATM. If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
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