The US Bitcoin ATM network Coinsource has formed a partnership with Kwik Trip to introduce Bitcoin ATMs to its 800-strong retail empire across the midwest and northeast US.
With installations already underway, Coinsource is establishing new Bitcoin ATMs through its partnership with the convenience store and gas station operator. Kwik Trip currently controls 800 retail stores in Wisconsin, Minnesota, Illinois and Iowa.
Founded in 2015, Texas-based Coinsource allows customers to buy and sell bitcoin with US dollars through the use of its physical kiosks.
Its service fee is marked at 11 per cent across the board, with ATMs being programmed to display the accurate Bitcoin price. Users incur no fees with miner fees covered for each transaction. Additionally, Kwik Trip Rewards members will have access to lower rates.
“Partnering with Kwik Trip made perfect sense as it enables us to continue our mission of making crypto accessible to every American at phenomenally low rates, especially at a time when traditional economic systems have shown weaknesses,” said Sheffield Clark, CEO of Coinsource.
“It is our top priority to place our machines in essential, convenient locations, because Bitcoin is becoming increasingly essential to Americans.”
There are nearly 38,000 Bitcoin ATMs across the world. and Coinsource is the only active BitLicence holding operator in the business, making them the only non-billion dollar valued company to hold this license.
As the largest network of Bitcoin ATMs, Coinsource overcomes the barriers to the cryptocurrency world, enabling more people to engage with market developments. With over 2,500 Bitcoin ATMs, Coinsource has machines in 46 states and has installed Bitcoin ATMs within a 15-minute drive of 80 per cent of the US population.
Kwik Trip is one of the largest independently-held convenience store chains in the US. As a family-owned gas station and convenience store chain, one of the benefits it offers its employees is its commitment to share 40 per cent of the company’s pre-tax profits with its coworkers.
Kwik Trip is now set to provide essential financial services to customers in locations across the country.
Commenting on the partnership, Dave Wagner, controller of Kwik Trip, said: “We are delighted to be partnering with Coinsource and facilitating simple access to Bitcoin for our customers. We understand Coinsource’s aim of providing the fastest, easiest and most secure way to buy and sell cryptocurrencies and how a key part of this is placing the Bitcoin ATMs in convenient and easily accessible locations.
“As an added benefit, we know our customers are getting the best deal since Coinsource has the lowest proven rates plus industry-leading compliance, which really sealed the deal.”
