• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Monday, June 16, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto Bitcoin

Walmart Has Began Hosting Bitcoin ATMs

by Baisakhi Mishra
October 22, 2021
in Bitcoin, Crypto, News
Reading Time: 2 mins read
0
Walmart Has Began Hosting Bitcoin ATMs

Image Source: Coin Desk

TwitterWhatsappLinkedin

Walmart, the world’s largest retailer by revenue, is now selling Bitcoin in hundreds of its U.S. locations. Customers may buy cryptocurrencies through Coinstar ATMs located throughout the retailer’s massive large box stores. On Oct. 12, a CoinDesk editor tested the service by purchasing a modest quantity of Bitcoin at a Pennsylvania Walmart.

You might also like

SEBI Unveils ‘Valid’: A Safer UPI-Based Payment System for Indian Securities Market

Meesho Secures NCLT Nod to Shift HQ to India, Inches Closer to IPO

New COVID-19 Variant “Nimbus” Sparks Concerns as Global Cases Rise

Walmart Has Began Hosting Bitcoin ATMs
Image Source: Coin Desk

Walmart communications director Molly Blakeman told CoinDesk via email that “Coinstar, in cooperation with Coinme, has launched a pilot that allows its customers to use cash to purchase Bitcoin.” “This pilot includes 200 Coinstar kiosks that are positioned within Walmart shops across the United States.”

Coinstar is most recognized for letting customers exchange coins for cash, gift cards, or paper bills. Coinme, a cryptocurrency wallet, and payment company that specialised in Bitcoin ATMs have made it possible to buy Bitcoin (BTMs).

A paper voucher is given once bills are inserted into the machine. Before the voucher can be redeemed, you must first create a Coinme account and pass a know-your-customer (KYC) check. According to the Coinstar website, which was verified by CoinDesk, the machine costs a 4 percent fee for Bitcoin and a 7 percent fee for cash exchange.

Following a hoax last month in which a bogus press release claimed that Litecoin (LTC) would be accepted as payment at Walmart stores, CoinDesk tested the service out of an abundance of caution. The Bitcoin-Bentonville link is real this time. According to a source familiar with the pilot, the Litecoin fiasco has deterred Walmart, based in Bentonville, Ark., from publishing a press announcement.

The cryptocurrency ATM market is rapidly growing, spurred in part by the COVID pandemic. In response to a surge in usage, Coinstar announced intentions to treble its fleet of 3,500 Coinme BTMs by 2020.

Coinstar, which began offering bitcoin-buying services with Coinme in early 2019, has recently added 300 Bitcoin-enabled ATMs to Winn-Dixie, Fresco y Más, Harveys, and other Florida grocery stores.

But Walmart, which has long been regarded as the crown jewel in the mainstreaming of crypto financial services, has gone another step forward – even if the 200-kiosk experiment is pocket change for a corporation with 4,700 stores and a market capitalization of $409 billion.

Given Walmart’s shared connections with Coinme and MoneyGram, the possibility for crypto-enabled financial services for lower-income users is alluringly close, but the store did not explain further its crypto aspirations.

While large-scale BTM rollouts may boost acceptance, money laundering risks remain, according to Seth Sattler, compliance director at BTM supplier DigitalMint.

This is because some crypto ATM operators ignore the relatively high degree of criminal activity attracted by the machines, he claims. Money mules, people traffickers, and other con artists fall within this category.

According to Sattler, who is also a prominent contributor to the recently convened Cryptocurrency Compliance Cooperative, DigitalMint has rejected and refunded $5 million to fraud victims over the last 18 months, despite accounting for only 5 percent of total BTM transaction volume.

In an interview, Sattler said, “Large retailers need to make sure they know the vendor they’re getting into bed with and what that organization is doing to manage risk.”

If you find this article informative then do share it with your friends and family!

Also read: How Sublime Plans to Solve Over-Collateralization in the DeFi Space

Tags: #Coinstarbitcoincryptocurrency
Tweet54SendShare15
Previous Post

Ola Cars look to hire 10,000 new employees, expand to 100 cities by 2022

Next Post

Google to reduce Play Store fee for all subscription services to 15%

Baisakhi Mishra

Recommended For You

SEBI Unveils ‘Valid’: A Safer UPI-Based Payment System for Indian Securities Market

by Ishaan Negi
June 16, 2025
0
SEBI Unveils ‘Valid’: A Safer UPI-Based Payment System for Indian Securities Market

In a move to bolster investor protection and streamline digital transactions in the securities market, the Securities and Exchange Board of India (SEBI) has launched a unique UPI-based...

Read more

Meesho Secures NCLT Nod to Shift HQ to India, Inches Closer to IPO

by Ishaan Negi
June 16, 2025
0
Meesho Secures $550 Mn in Fresh Funding Amid IPO and Expansion Plans

In a major step towards its public listing ambitions, Meesho — the Prosus-backed ecommerce unicorn — has received the green light from the National Company Law Tribunal (NCLT)...

Read more

New COVID-19 Variant “Nimbus” Sparks Concerns as Global Cases Rise

by Harikrishnan A
June 16, 2025
0
New COVID-19 Variant “Nimbus” Sparks Concerns as Global Cases Rise

As much of the world moves on from the early chaos of the pandemic, a new COVID-19 variant is quietly making its way through communities across Asia, Europe,...

Read more
Next Post
Google to reduce Play Store fee for all subscription services to 15%

Google to reduce Play Store fee for all subscription services to 15%

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?