The Bitcoin ATM network is on a growth trajectory. The latest of this expansion is in Alaska. Coinsource, a Bitcoin ATM provider has announced that it is expanding its operations to Alaska. Coinsource has also announced that it had got an Alaska Money Transmitter License. With this license, Coinsource now becomes the fourth operator to offer Bitcoin ATM services in Alaska.
Coinsource has announced that it will implement its Bitcoin ATM network just like it does in other regions of the U.S. As part of its policy, the company offers Bitcoin ATM services within a 15-minute drive range of where most, or 75 percent of the population lives. The company has tripled its ATM network since 2020, in tandem with industry growth. The Bitcoin ATM market is up by 177 percent over the past year.
It is also interesting that Coinsource is the first one to receive this license while there are other players. The Alaska Division of, Banking and Securities License guarantees that companies like Coinsource do their business ethically and without putting the users of such services at risk.
While the news of Coinsource expansion is exciting, some industry players feel like the market is obsolete. Such sentiments are driven by the fact that there is increased adoption of e-wallets. Such wallets eliminate the need to drive from one point to the other in search of a Bitcoin ATM. Besides the inconvenience, there is a security risk since everyone can see that you are going to withdraw Bitcoin – a high-value asset.