Clients of Walmart now they can buy Bitcoin in more than 200 ATMs installed in different locations. Although buy BTC on ATM it has a higher cost.
Now when the price of Bitcoin is in the heights, the multinational corporation of retail businesses, Walmart, announced the installation of 200 ATMs Bitcoin in different locations of the chain, with plans for 8,000 crypto ATMs in the United States.
Walmart has partnered with the currency exchange machine company Coinstar and crypto-cash exchange CoinMe to install the ATMs of Bitcoin in their stores.
200 to 8,000 Bitcoin ATMs at Walmart
The media highlights that, although the pilot includes only 200 points, the larger launch plans to eventually see the installation of 8,000 ATMs Bitcoin throughout the country, according to a review by Bloomberg. But there have been no further details on the schedules as of yet.
What of Walmart not new, other retailers have installed Bitcoin ATM. According to data from Coin ATM Radar, there are currently more than 25,000 ATMs in Bitcoin at grocery stores and gas stations in the U.S. Of these, Coinstar operates 4,400 kiosks enabled for purchases of Bitcoin in 33 states.
The strategy director and head of research at BitOoda Sam Doctor told Bloomberg that although the ATMs of Bitcoin They are not a new development and can already be found in many supermarkets: “Nevertheless, Walmart expands access to Bitcoin to more people and gives it more legitimacy among skeptics, should they implement it beyond an initial pilot. “
Explain Cointelegraph that customers can use the ATM of Bitcoin inserting a ticket and receiving a paper receipt with a redemption code. To redeem the code, customers must set up an account Coinme and complete a background check. Users cannot withdraw Bitcoin from your account, with no indication of plans to offer this functionality in the near future.
Now, the media emphasize that ATM operations of Bitcoin are more expensive: have an 11% surcharge, made up of a 4% fee for the option Bitcoin, plus an additional 7% cash change fee. They compare it to crypto trading platforms like Binance and Coinbase They charge 3% to 4.5% and 3.99% for debit and credit card purchases, respectively. It’s free to make a direct deposit from a bank account to a wallet. Binance or Coinbase.
A long story
Walmart has had an interest in Bitcoin for some time now and has discussed integrating cryptocurrencies into its business model in the past. In August this year, it announced that it was seeking a crypto product leader to drive the company’s digital currency strategy. But long before that he has had various relationships with the Blockchain. For example, in 2019 it presented the request for the use of Blockchain for communication between drones. In 2019 he also filed a patent for his own stablecoin.
Beincrypto remember that the news follows a false announcement of Litecoin in September that it said that Walmart would support payments in the cryptocurrency, and that it was the subject of media headlines. The retail chain is investigating the fake press release. In April there was also a strong rumor, unconfirmed by official spokespersons, that Walmart was investing in Bitcoin.
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