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Walmart Installs 200 Bitcoin ATMs in Stores As Retail Giant Launches New Crypto Pilot Program: Report

Walmart Installs 200 Bitcoin ATMs in Stores As Retail Giant Launches New Crypto Pilot Program: Report


Walmart customers can now add crypto to their shopping lists as the retail giant has started a pilot program that adds Bitcoin-dispensing machines to some of its locations.

In collaboration with digital currency exchange platform CoinMe and coin-cashing machine company Coinstar, the megastore says that it has released 200 Coinstar kiosks in Walmarts around the nation that dispense BTC, according to Reuters.

 

According to Bloomberg, Walmart’s pilot program is part of a wider effort by Coinstar to release 8,000 kiosks around the country that customers can use to buy BTC.

To use the machines, customers would insert bills and receive a voucher. The buyers would then have to sign up for a CoinMe wallet and pass a background check to redeem the voucher for Bitcoin. The machines charge a 4% fee for BTC purchases, along with a 7% cash exchange fee, according to Coinstar.

The development comes on the heels of Walmart announcing that it was looking for a cryptocurrency product lead to spearhead the company’s digital currency strategy in August.

However, Walmart was subject to a hoax a month later where fake news was spread by prominent media networks saying that the company was partnering up with popular peer-to-peer payments network Litecoin (LTC).

Bitcoin is exchanging hands at $61,475 as of writing, an 8.5% decrease from its seven-day high of $67,118, according to CoinGecko.

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Featured Image: Shutterstock/Phoenixns





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