Walmart will now accept bitcoin purchases in the U.S…
Walmart started a pilot program in which its customers will buy bitcoin at Coinstar kiosks located in some of its markets in the United States.
The trial with Coinstar, known for machines that allow customers to exchange U.S. coins for paper bills or gift cards, began earlier this month, Walmart spokeswoman Molly Blakeman said Thursday. The pilot includes 200 kiosks located in Walmart stores. The move is part of a more extensive initiative by Coinstar, which has teamed up with Coinme, a cryptocurrency cash exchange platform to offer bitcoins on more than 8,000 kiosks. The pilot will start with 200 kiosks in different Walmart stores.
“Bitcoin ATMs have been throughout for a while, even in many supermarkets,” said Sam Doctor, chief strategy officer and head of research at Bida, a regulated cryptocurrency brokerage agency. “However, with this, Walmart will expand access to bitcoin to more people and give it more legitimacy among skeptics, should they implement it beyond an initial pilot.”
Walmart will start testing weeks after a fake press release was released in which the retailer announced it would allow its customers to pay with a cryptocurrency called litecoin. While that announcement wasn’t real, Walmart is evaluating the future of crypto in its operations. In August, it published a job vacancy to develop “a digital currency strategy and product roadmap” while analyzing “cryptocurrency-related investments and partnerships.”
The deal with Coinstar was previously reported by Coindesk, which tested the service. Customers who buy bitcoin insert paper bills into the Coinstar machine and then get a coupon. Additionally, they must set up a Coinme account and pass a background check before redeeming the voucher. The machines charge a 4 percent transaction fee and a 7 percent cash exchange fee, Coindesk said.
“It’s an expensive way to buy bitcoin, but it reduces startup barriers for first-time crypto buyers.”
200 ATMs at Walmart are now available for bitcoin purchase
As of Thursday, October 21, 2021, it is possible to purchase bitcoin (BTC) while…