cryptoknowmics.com
Walmart has reportedly partnered with Coinstar and CoinMe to install 200 Bitcoin ATMs in its stores across the United States. As revealed, Coinstar, a coin-cashing machine company, and CoinMe, a crypto-cash exchange, along with Walmart have intentions to install around 8,000 Bitcoin ATMs across the country.
Walmarts Partners CoinMe and Coinstar to Install Bitcoin ATMs
The Chief Strategy Officer and Head of Research at BitOoda, Sam Doctor, recently spoke with media spokespersons and said that while Bitcoin ATMs are not something new, and you can find it at many supermarkets. The statement said:
“Walmart expands Bitcoin access to more people, though, and gives it further legitimacy among sceptics, should they roll it out beyond an initial pilot.”
At present, only 200 Bitcoin ATMs have been installed, and the total count has exceeded 25,000 Bitcoin ATMs.
Customers can use the Bitcoin ATM by inserting a banknote and receiving a paper voucher with a redemption code. In order to redeem the code, customers need to then set up a Coinme account and go through a background check.
In addition to this, it should be noted that the Bitcoin ATMs have an 11% surcharge, with the inclusion of a 4% fee for the Bitcoin option along with an extra 7% cash exchange fee.
Recent Move Contributes to the Mainstream Adoption
The recent news has been welcomed as a sign of mainstream adoption by a majority of crypto advocates including Lark Davis, who stated:
“Wal Mart selling Bitcoin now... cool!”
In contrast to this, some users showed criticism and complained about the high fees of the ATM, and said that the price of Bitcoin is higher at the time of purchase and lower at the time of selling.
Moreover, some users did appreciate the fact that Bitcoin is getting adopted but said that it is a ripoff.