Coin counting kiosk maker Coinstar has announced it intends to double its number of BTC ATMs, CoinDesk reports.
The company, which is associated with the Bitcoin ATM company Coinme and that currently has 3,500 ATMs distributed mainly in supermarkets and pharmacies, has reported it plans to expand its business.
The company president of product Michael Jack has said this expansion will take place "within a year." According to him, the use of Coinme ATMs has increased significantly.
While the company has expressed its desire to expand its business by installing new ATMs, it has not specified when this will happen.
It is worth noting the increase in the use of the company's Bitcoin ATMs is directly related to the coronavirus pandemic, as its ATMs are mainly located in supermarkets and pharmacies, which are actually some of the few brick-and-mortar establishments that remain open during the confinement imposed by governments.
Users are allegedly buying Bitcoin on the company's ATMs as they fear the covid-19 pandemic could have a deep impact on the economy. In particular, the number of Bitcoin transactions at Coinme ATMs has increased by 40% since late February.
Coinme started to offer the possibility of buying Bitcoin through Coinstar's coin counting kiosks back in January 2019.
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