You can now buy Bitcoin (BTC) at 200 Walmart locations in the U.S.
Blockchain is gaining steam in retail, with Walmart now accepting Bitcoin as payment at 200 locations. This comes after the company announced that it will let customers pay for purchases using its digital wallet or credit card through partnerships with other retailers. How are physical stores adapting to this trend? What role can blockchain play in their future?
The “walmart shoppers can now buy bitcoin” is a recent development in the world of cryptocurrency. Walmart has 200 locations that will accept Bitcoin as payment.
Thanks to a test initiative with cryptocurrency ATM operator Coinstar, users will be able to buy Bitcoin (BTC) through ATM kiosk at over 200 Walmart stores.
The company has already showed interest in the booming crypto market and plans to incorporate digital currency into its daily operations. The corporation also advertised in August that it was looking for someone to assist establish “the digital currency strategy and product roadmap” as well as discover “crypto-related investment and collaborations.”
Coinstar is a website where you may buy Bitcoin.
The Coinstar trial, which started earlier this month and involves 200 kiosks at Walmart shops, is still ongoing. Coinstar has partnered up with a cryptocurrency payment exchange named Coinme to provide Bitcoin at more than 8,000 kiosks as part of a larger project.
Walmart has 200 Bitcoin ATMs. THIS IS MASSIVE! https://t.co/geHZGAUdV4
Purchasing Bitcoin is simple. Customers just pay in fiat currency at a Coinstar machine and get a coupon in return. Before the coupon can be used, they must first create a Coinme account and pass a background check. The machines impose a 4% fee for Bitcoin transactions and a 7% cost for cash transactions.
According to some industry analysts, the deployment will aid in the uptake of cryptocurrency. “Bitcoin ATMs have been around for a while,” said Sam Doctor, chief strategy officer and director of research at BitOoda, a licensed crypto brokerage.
“Should they extend it beyond an initial test, Walmart provides Bitcoin access to more individuals and gives it greater legitimacy among doubters,” he said.
Walmart is putting the service to the test only weeks after a high-profile scam in which a bogus news release claimed the business would begin accepting Litecoin payments. Even though the declaration turned out to be erroneous, Walmart has decided not to participate in the test.
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