The value of Bitcoin continues to skyrocket with the digital currency topping a high of $11,773.83 on Sunday.
One company, Coinsource, is now trying to meet the demand of the hot commodity here in Atlanta, installing 20 new ATM Bitcoin machines for immediate cash transactions.
“This is a major opportunity not only for Coinsource but for the cities of Atlanta and Athens as well," CEO Sheffield Clark said. "Atlanta is one of the most mature Bitcoin ATM markets in the country so it’s exciting to provide our services to people already showing accelerated adoption to the technology."
Coinsource's ultimate goal is providing access to Bitcoins, according to co-founder Bobby Sharp.
"The future is debit cards and credit cards and everything else," Sharp told 11Alive News. "But right, this is just for cash to convert fast in digital currency."
Once a consumer has enrolled on Coinsource.com, the ATM provides a simple transaction process with as little as $5 in cash. In lieu of linked bank accounts as required by Bitcoin exchanges, you can scan a personalized QR code to send the Bitcoin to a digital Bitcoin wallet.
Coinsource also touts lower transaction fees, approximately 8 percent in the Atlanta area.
"If you wanted to, you could send a Bitcoin to anyone in the world, similar to an email," Sharp said. "And they can cash out on the other side. Some people just want to have bitcoin, and they want to hold it and diversify a little bit."
The digital currency continues to be controversial due to its volatility, lack of regulation and insurance for consumers. Yet, Sharp said the calls continue to come in from Georgia residents requesting Coinsource access. Some Coinsource ATMs also allow users to sell and buy the popular commodity.
"There's people that don't want to necessarily go into an exchange and link their accounts and all that; this is a much easier way," Sharp said, adding the Bitcoin transaction is immediate without delay.
"Coinsource's focus is to continually to put these kiosks out - continue to put out the lowest rates in the industry - because we want more and more people to adopt it," Sharp said. "It's a neat rise."