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Walmart has started to place Bitcoin ATMs

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Jan 9, 2020 Mountain View / CA/ USA - People shopping at a Walmart store in south San Francisco bay area

The largest American retailer Walmart offered customers the opportunity to buy Bitcoin (BTC) in several dozen US outlets. The company intends to install 8,000 Bitcoin ATMs in the United States over time. In addition, 200 Coinstar terminals have already been installed as part of the pilot program. CoinDesk reported this.

“Coinstar, in collaboration with CoinMe, has launched a pilot program to allow customers to buy Bitcoin for cash,” said Molly Blakeman, director of communications at Walmart.

Thus, after depositing money into the terminal, the client receives a paper coupon with a code. The user needs to register on the CoinMe wallet website and pass verification. The terminal charges a commission of 4% for the purchase of Bitcoin; and 7% for the exchange of cash, according to the Coinstar website.

Expanding Bitcoin access to more people

According to CoinATMRadar, there are currently over 25K Bitcoin ATMs in select grocery stores and gas stations all over the United States. Coinstar has 4,4K Bitcoin-enabled kiosks spread across 33 states.

 “Walmart expands Bitcoin access to more people, though, and gives it further legitimacy among skeptics, should they roll it out beyond an initial pilot”. Said BitOoda’s chief strategist, Sam Doctor.

In comparison, popular crypto trading platforms Binance and Coinbase charge 3% to 4.5%; and 3.99%, respectively, for debit and credit card purchases.

Spread in the media

A representation of cryptocurrency Litecoin is seen in this illustration taken on August 6, 2021. REUTERS/Dado Ruvic/Illustration – RC2MZO9J0DHV

Recall that previously in September, the media spread an announcement on behalf of Walmart that the retailer allegedly intends to integrate Litecoin. Both organizations later denied the news. Against this background, the price of cryptocurrency increased by more than 35% and then collapsed just as sharply.

Earlier in August, Walmart opened a vacancy for a product manager related to cryptocurrencies. The company website said the retailer is looking for a senior director at the company’s headquarters in Bentonville, Arkansas.

The announcement said the company is “looking for a visionary leader” to take the lead in products in the so-called digital currency and cryptocurrency space.

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