200 Bitcoin ATMs installed at retail giant Walmart, target is to reach 8000
E-commerce giant Walmart has partnered with coin-cashing machine company Coinstar and crypto-cash exchange CoinMe to install 200 Bitcoin ATMs in its stores across the United States.
Although the pilot includes only 200 kiosks, the broader launch plans to eventually see the installation of 8,000 bitcoin ATMs across the country. There have been no further details on timelines as of yet.
There are currently over 25,000 bitcoin ATMs at select grocery stores and service stations in the U.S., according to Coin ATM Radar. Coinstar operates 4,400 kiosks enabled for Bitcoin purchases, across 33 states.
Customers can use the Bitcoin ATM by inserting a banknote and receiving a paper voucher with a redemption code. To redeem the code, customers need to then set up a Coinme account and complete a background check. Users cannot withdraw Bitcoin from their account, with no indication of plans to offer this functionality in the near future.
The Bitcoin ATMs have an 11% surcharge, comprised of a 4% fee for the Bitcoin option, plus an additional 7% cash exchange fee.
This isn’t the first sign of interest that Walmart has shown in the crypto world. In August, the retail giant announced that it was seeking a crypto product lead to drive the company’s digital currency strategy. The job listing has since been removed from Walmart’s website, but an advertisement for the role remains on Linkedin.
Read: Polkadot unveils $770M development fund ahead of parachain auctions