The next time you go to Walmart (as long as you are on a trip to the US now that the borders are reopened) you can go shopping, start buying Christmas stuff and… bitcoin.
The cryptocurrency boom is growing
As part of a larger initiative from Coinstar, known for its ATM-like kiosks that allow customers to exchange physical coins for cash or gift cards, and Coinme, a digital currency exchange, there are now 200 Coinstar kiosks that can be used to buy bitcoin in Walmart stores across the country, Molly Blakeman, a director of communications, told Money.
Coinstar and Coinme offer Bitcoin at more than 8.000 kiosks, including grocery stores like Stop & Shop and Foodtown.
The cryptocurrency has recently exploded in popularity. Bitcoin, along with other popular cryptocurrencies, can be purchased through Venmo and Cash App, or traded on cryptocurrency exchanges like Coinbase and trading apps like Robinhood. Earlier this week, US investors got the closest thing to a bitcoin ETF or mutual fund when the first bitcoin futures ETF started trading on the market. Bitcoin's price hit a record high on Wednesday, surpassing $ 66.000 per coin.
Now, the cryptocurrency can be bought at one of the largest retailers in the country, giving even more people a chance to get in on the action.
“Coinstar recognizes that a diverse population has different payment preferences,” the Coinstar website states. "As the use of bitcoin grows around the world, our customers will seek greater access to the purchase and use of this new form of currency."
How to buy bitcoin at a Coinstar kiosk
To buy bitcoins from a Coinstar kiosk, customers need to create a Coinme account (which they can do online) and find and place cash at a Coinstar kiosk. They will then receive a physical bitcoin voucher that can be redeemed online. Each purchase carries a 4% transaction fee and a 7% exchange fee, according to the Coinstar website.
Cryptocurrency trading can involve high fees. For example, Coinbase and Gemini charge a 0,5% spread (or convenience fee) on all transactions, plus fees starting at $ 0,99, depending on the size of the transaction.
The Walmart news comes after a fake press release made the rounds last month, falsely announcing that Walmart would begin allowing customers to pay for items with Litecoin, another cryptocurrency. Litecoin's price briefly jumped nearly 30% on (fake) news before Walmart released a statement denouncing the press release.
But this time it's no hoax: CoinDesk reported that one of its publishers has been testing a new Walmart kiosk service, and it's really real.
And you've seen kiosks in your city that allow you to buy bitcoin? Let us know in the comments section below.
