Cash-to-Bitcoin exchange available at 200 Walmart Coinstar machines




  • In Business
  • 2021-10-22 17:10:00Z
  • By Washington Examiner
 

Walmart is rolling out a program for customers to exchange cash for Bitcoin at select Coinstar machines in its stores.

The pilot program, which started earlier this month, makes cash-to-Bitcoin transactions available at 200 select Coinstar machines. Coinme, a cryptocurrency payment firm that has been operating Bitcoin ATMs since 2014, operates the transactions via the machines.

"Coinstar, in partnership with CoinMe, has launched a pilot that allows its customers to use cash to purchase Bitcoin," a Walmart spokeswoman told the Washington Examiner. "There are 200 Coinstar kiosks located inside Walmart stores across the United States that are part of this pilot."

BITCOIN'S RECORD-BREAKING RALLY SPURRED BY INFLATION JP MORGAN SAYS

Coinstar machines are best known for converting coins into paper money or gift cards. Though a press release last month said that Walmart would be accepting cryptocurrency Litecoin as payment proved to be a hoax, an editor at cryptocurrency news website Coindesk verified that the service works.

The service works by inserting cash into the machine and receiving a paper voucher that can be redeemed by setting up a Coinme account. It charges a 4% fee for the Bitcoin option and a 7% cash exchange fee.

Bitcoin, the largest cryptocurrency, reached a record high on Wednesday, soaring to above $65,000.

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Tags: News, Bitcoin, Walmart, Cryptocurrency

Original Author: Virginia Aabram

Original Location: Cash-to-Bitcoin exchange available at 200 Walmart Coinstar machines

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