Walmart is allowing customers to purchase Bitcoin?
According to reports, Walmart has launched a pilot project in collaboration with Coinstar to allow Bitcoin cryptocurrency purchases. The report says that it’s a broader initiative by Coinstar and the cryptocurrency cash exchange platform called Coinme, which is offering Bitcoin at more than 8,000 kiosks. The report suggests that 200 kiosks are currently available in Walmart stores for customers.
Talking about the new initiative, chief strategy officer and head of research at BitOoda, Sam Doctor said, “Bitcoin ATMs have been around for a while, including in many supermarkets.”
“Walmart expands Bitcoin access to more people, though, and gives it further legitimacy among skeptics, should they roll it out beyond an initial pilot,” he further added, according to a Bloomberg report on Thursday.
This new scheme has been launched weeks after a fake release stated that Walmart was going to start letting customers pay with a cryptocurrency known as Litecoin.
While that was later termed a high-profile hoax, the largest retailer in the United States is testing the future of cryptocurrency in its operations.
According to the report, Walmart had advertised a job in August to develop “the digital currency strategy and product roadmap” while at the same time trying to identify the “crypto-related investment and partnerships.”
How to Buy Bitcoin from kiosk machines?
Buying a Bitcoin on Walmart is very simple. Users have to first insert paper bills into a kiosk machine. They will then receive a voucher after which they have to log in to their Coinstar account. In their account, they will be able to redeem the said voucher for the popular cryptocurrency, Bitcoin.
The kiosk machines charge a minimum of 4% fee for their Bitcoin option, apart from a 7% fee for cash exchange. The process is little expensive but it provides an extra convenient way for customers to purchase Bitcoin cryptos.