Walmart Rolls Out Bitcoin ATMs Across 200 Stores Nationwide – Oct 22 2021

Walmart Rolls Out Bitcoin ATMs Across 200 Stores Nationwide

Posted By: RumorMail [Send E-Mail]
Date: Friday, 22-Oct-2021 10:02:18
http://www.rumormill.news/185205

By Tyler DurdenWhile adoption of cryptocurrencies is accelerating among the investor class, rapidly enabled by this week’s launch of the first bictoin (futures) ETF, it appears the even broader adoption of digital currencies into day-to-day life and mom-and-pop may be about to escalate dramatically.Reuters reports that Walmart customers at some of its U.S. stores will be able to purchase bitcoin using ATM-like machines installed by Coinstar.Coinstar, known for its machines that can exchange physical coins for cash, has partnered with digital currency exchange CoinMe to let customers buy bitcoin at some of its kiosks.“Coinstar, in partnership with Coinme, has launched a pilot that allows its customers to use cash to purchase bitcoin,” Walmart communications director Molly Blakeman told CoinDesk via email.“There are 200 Coinstar kiosks located inside Walmart stores across the United States that are part of this pilot.”This is all good news for those who see the network effect building more sustainable value in bitcoin, but, as CoinDesk.com reports, there are some ‘complications’.After inserting bills into the machine, a paper voucher is issued.The next stage involves setting up a Coinme account and passing a know-your-customer (KYC) check before the voucher can be redeemed.The machine charges a 4% fee for the bitcoin option, plus another 7% cash exchange fee, according to the Coinstar website and verified by CoinDesk.

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