Walmart installed 200 Bitcoin ATM machines in its American stores, with plans to have up to 8000 kiosks installed in the future so let’s read more in our latest bitcoin news today.
The American multinational retail corporation will start allowing customers to purchase BTC using ATMs installed on some of its US Shops and the initiative became possible after a new collaboration between the retail giant Coinme and Coinstar. Walmart’s name got involved with crypto in the past but a few months ago it got involved in a fake story with Litecoin for an alleged partnership that supposedly enabled clients to make payments with crypto. While the rumors caused quite the enthusiasm in the digital asset sector, they turned out to be fake and the market went south.
However now, reports from Bloomberg show that the company really joined forces with Coinstar that is known for its machines and can exchange physical coins for cash. The latter provided 200 Bitcoin ATMs in Walmart across the USA while the broader plan is to bring this number of machines to 8000. Sam Doctor, the Chief Strategy Officer at BitOoda said that the installing of the kiosks in the supermarkets is a growing trend in the nation but then noted that Walmart is different than its rivals as the scope can reach a considerable percentage of the society:
“Walmart expands Bitcoin access to more people, though, and gives it further legitimacy among skeptics, should they roll it out beyond an initial pilot.”
All of the customers willing to employ a new service will have to insert a banknote into a Coinstar machine and will get a paper voucher. They will have to set up a Coinme account and complete an entire background check to redeem the code. Fees will be included as the ATMs charge 4% for the BTC option with an additional 7% cash exchange fee. While this is quite an expensive way to purchase Bitcoin, it lowers the barriers to entering the market for all first-time buyers.
Walmart installed these machines since many other retail chains installed machines in their stores. Bitcoin is a leading digital asset and the most popular one but there are other crypto assets that US residents can purchase from some of the kiosks. CoinFlip decided to list DOGE on 1800 crypto ATMs in 46 states as the CEO and Co-founder of the company Daniel Polotsky said that this move will enable the general population a straightforward way to receive exposure to the meme coin. If you take a closer look at the number of crypto ATM machines per country, the USA is the leader. As per the latest data, the country has 17,436 machines and Canada comes in second place with 1400 ATMs.
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