Signs Of Mass Adoption: CoinStar Now Selling Bitcoin
Saw something interesting this morning when I went to the store. Every few months I take my newer coins (that have less quality metal in them) to the Coinstar machine at the grocery store to cash in. I was stunned to see that they are now offering to sell Bitcoin through them. Evidently they have partnered with a company called Coinme, who has operated Bitcoin ATM's for several years now.
As with all businesses handling fiat for crypto, they must follow KYC laws that will require you to do the usual upload of ID and such. This has been the biggest complaint I could find when I got home and did a search for this. My recommendation if you plan on utilizing this service to bypass normal exchanges is to go to their website and take care of the KYC needs before ever getting to the Coinstar machine to avoid hassles and delays.
The second complaint is with fees (4% if I am understanding correctly). However, spending most of my life in retail, it has been my experience that the masses are willing to pay more for convenience. The Coinstar machines will accept cash only. Based on some videos I found as this continues to roll out you can expect to see every grocery that has a Coinstar offering to sell Bitcoin in the immediate future. This is one of the largest steps towards mass adoption I have seen, and will help spur the next bull run once it begins and news/excitement begins to reach the masses as we saw with the last bull run.
To set up your account (and get the KYC out of the way)with Coinme, go to:
This last year has seen a lot of positions solidifying and growing as the markets have corrected themselves. This next bull run will push solid projects to the head of the pack. There is no doubt that despite the market ranking of Steem, it is one of the more solid projects with demonstrable use cases for programmers to examine. While the future is never a certainty, and I am not a certified financial advisor, it looks to me as if time is running out before this next bull run is on us. I wouldn't put off buying in asap if you plan on it. I am still a month or two minimum away and already worry I am going to have to buy in after the bulls start their move.
Exciting times for all of us look to be on the horizon.
Hey, @practicalthought.
I like it. The more the merrier. I might actually need to buy bitcoin now, since I think I can find some change lying around the house. :)
It seems to me that things have been setting up for a while now for something to happen. I know less than most about this whole crypto thing, but just watching the markets, hearing from you and others picking up bits and pieces of the puzzle, they seem to be pointing to some money to start coming in again.
That would be great. I wish I could say it's going to happen so quickly. The truth is, who knows? But we do need to keep hanging in and doing whatever there can be done to keep moving the concept forward of mass adoption.
The virus is spreading :P
Hi @practicalthought
I just read your amazing comment (my latest post) and decided to check out your own account to see if you published anything valuable lately. And I was like ... OMG, nothing new in such a long time.
I hope you're not giving up on Steemit buddy,
Yours, Piotr
Howdy sir practicalthought! Very encouraging news indeed, thanks so much for bringing this to our attention!
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