Walmart launches installation of Bitcoin ATMs

Walmart brings bitcoin vending machines to 200 locations across the United States through partnership with coin vending company Coinstar and cryptocurrency exchange Coinme.

Although the initial trial period is only 200 ATMs, the launch is part of a larger plan to install 8,000 bitcoin ATMs in the country, according to multiple reports.

In the United States, there are over 25,000 bitcoin ATMs located in supermarkets and gas stations, and Coinstar operates 4,400 bitcoin kiosks in 33 states.

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Coinstar launched the Walmart pilot program in collaboration with Coinme, Walmart’s communications director, Molly blakeman, Coindesk said.

“Coinstar, in partnership with Coinme, has launched a pilot project that allows its customers to use cash to buy bitcoin,” said Blakeman. “There are 200 Coinstar kiosks located in Walmart stores across the United States that are part of this pilot.”

Customers wishing to use bitcoin machines must have a Coinme wallet or install one at an ATM. The cost is 4 percent for exchanging Bitcoin plus an additional 7 percent for converting e-money into cash, according to the Coinstar. website.

Read more: Circle K to add Bitcoin ATMs to stores; Data shows 51% of UK consumers would take a cryptocurrency-backed loan

People without a Coinme wallet can still insert paper money and use the returned redemption code to set up the Coinme account.

Bitcoin ATMs were first introduced in the United States about seven years ago, according to Coin ATM Data. There are now nearly 50,000 terminals in the United States and 130 in Hong Kong at the end of August.

“Bitcoin ATMs have been around for quite some time, including in many supermarkets,” Sam Doctor, chief strategy officer and head of research at crypto broker BitOodatold, told Bloomberg. “Walmart is expanding access to Bitcoin to more people, however, and giving it additional legitimacy among skeptics, if they deploy it beyond an initial pilot.”

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