Walmart Inc. started a pilot program in which its customers will be able to buy bitcoin at Coinstar kiosks located in some of its stores in the United States.
The test with Coinstar, which is known for the machines that allow customers to exchange U.S. coins for paper bills or gift cards, began earlier this month, a spokeswoman for Walmart, Molly Blakeman.
The pilot includes 200 kiosks located in Walmart stores. The measure is part of a broader initiative of Coinstar, which has teamed up with Coinme, a cryptocurrency cash exchange platform to offer the bitcoins at more than 8,000 kiosks. The pilot will start with 200 kiosks in different Walmart stores.
“Bitcoin ATMs have been around for a while, even in many supermarkets“, said Sam Doctor, strategy director and head of research at BitOoda, a regulated cryptocurrency brokerage. “However, with this, Walmart will expand access to bitcoin to more people and give it more legitimacy among skeptics, should they implement it beyond an initial pilot.”.
Walmart will kick off the trial weeks after a bogus press release was released in which the retailer announced that it would allow its customers to pay with a cryptocurrency called litecoin.
While that announcement was not real, Walmart is evaluating the future of cryptocurrencies in its operations. In August, he posted a job vacancy to develop “a digital currency strategy and product roadmap“While analyzing”investments and associations related to cryptocurrencies ”.
The deal with Coinstar was previously reported by Coindesk, who tested the service. Customers who buy bitcoin insert paper bills into the Coinstar machine and then get a coupon.
Additionally, they must set up an account Coinme and pass a background check before the coupon can be redeemed. The machines charge a 4% fee per transaction and a 7% cash exchange fee, he said. Coindesk.
“It is an expensive way to buy bitcoin, but it reduces the barriers to entry for buyers acquiring crypto for the first time.“, said Doctor.
.
Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.
