Bitcoin is now one step closer to becoming easily accessible to all. Check out your local Walmart if you are still unsure. There might be a Coinstar kiosk where you can buy Bitcoin.
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Walmart does not offer customers the ability to purchase bitcoins. Coinstar is. Coinstar is best known for its kiosks, which allow customers to trade their spare change for gift cards or bills. It was the first place I used to keep my coins jars when I was young. Coinstar now allows people to buy bitcoin using its kiosks through a partnership with Coinme, which is a crypto wallet company that offers bitcoin ATMs.
CoinDesk confirmed that Coinstars' new service was discovered and confirmed on Thursday.
Coinstar has launched a pilot program that allows customers to buy bitcoin using cash, according to a Walmart representative. This pilot includes 200 Coinstar kiosks in Walmart stores throughout the United States.
It seems that buying bitcoin is easy. Coinstar's website has an extensive FAQ section. It explains that you must first create a Coinme account. You can then go to your nearest Walmart and purchase bitcoin with cash at a participating Coinstar kiosk. Only 200 Coinstar kiosks are available at selected Walmart stores.
You can only purchase bitcoin with paper bills and not coins. You won't be able to get change. Make sure you have enough cash for the amount you wish to purchase in cash. Coinstar allows users to purchase bitcoin but not to sell bitcoin they already have for cash.
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After you have completed your purchase, the Coinstar kiosk gives you a voucher that includes a code you can use at Coinme. All purchases are subject to a transaction fee of 4%, which is part of the amount that goes to Walmart. There is also a 7% cash exchange fee. To access your bitcoin, you will need a Coinme account. This provides users with a free crypto wallet.
Coinstar requires customers to provide a valid telephone number in order to use its kiosks. However, it says that it does not store this information or any sensitive data about people who purchase bitcoin. Coinme does a Know Your Customers check to verify users' identities. This includes providing a valid drivers license or ID, and verifying that the user is at least 18 years of age.
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The Coinstars pilot program is still small, but the company has big plans. It will offer bitcoin purchase at over 10,000 kiosks, and other cryptocurrencies by the end.
