Purchase bitcoin at anyother Walmart Stores throughout the United states
Bitcoin is one step closer to being readily available to most people. If in doubt, check out Walmart near you. You will be able to buy Bitcoin at the Coinstar kiosk.
To be clear, Walmart itself does not offer customers a way to buy bitcoin — its partner Coinstar. Coinstar is best known for offering kiosks that allow people to trade their backup change with credit or gift cards. (It really was my journey to get my money jars when I was a kid). Now, Coinstar will allow people to use their kiosks to buy bitcoin in partnership with Coinme, a crypto wallet company that offers bitcoin ATMs.
The new Coinstar service was first recognized and validated by CoinDesk on Thursday.
"Coinstar, in partnership with Coinme, has launched a pilot that allows its customers to use the money to buy bitcoin," a Walmart representative told CoinDesk. "There are 200 Coinstar kiosks located inside Walmart stores throughout the United States that are part of this pilot."
Buying bitcoin seems easy. On its website, which has the longest section of the FAQ, Coinstar explains that you must first create a Coinme account. After that, you can head to your nearest Walmart via the participating Coinstar kiosk — only 200 kiosks at Walmart's selected stores are part of the pilot's, so be sure to check that your neighbor offers a service - and buy bitcoin with money.
Surprisingly, you can only buy bitcoin with paper loans, not coins. It will not give you change, so make sure you have the exact amount you want to buy in cash. In addition, Coinstar only allows users to buy bitcoin, not to sell the bitcoin they already own for cash.
Once you have completed your purchase, the Coinstar kiosk will give you a voucher with a code that you can redeem at Coinme. All purchases come with a transaction fee of 4%, a portion of which goes to Walmart, and an exchange fee of 7%. A Coinme account, which gives users a recommended crypto wallet, is required to gain access to your bitcoin.
In terms of data privacy, Coinstar requires customers to provide a valid phone number to use their kiosks but says it does not store or otherwise sensitive data of people buying bitcoin. Coinme, on the other hand, conducts a Know Your Customer test to verify user ID, which includes issuing an expired driver's license or country ID and confirming that the user is 18 years older than us.
Although Coinstar's pilot is still small, the company has large cryptocurrency plans. It plans to offer the ability to purchase bitcoin over its more than 10,000 kiosks and allow the purchase of different cryptocurrensets by the end of the year.
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