Walmart Plans to Install 8000 Bitcoin-ATM in USA
A retail giant Walmart plans to install 8,000 Bitcoin ATMs in its stores across the United States.
At the moment, in partnership with cryptocurrency cashing company Coinstar and cryptocurrency exchanger CoinMe, the company has already installed 200 ATMs, according to Bloomberg.
According to Coin ATM Radar, there are currently over 25,000 Bitcoin ATMs installed in some grocery stores and service stations in the United States. Coinstar operates 4,400 ATMs dedicated to Bitcoin purchases in 33 states.
Sam Doctor, chief strategy officer and head of research at BitOoda, told Bloomberg that while Bitcoin ATMs can already be found in many supermarkets, Walmart is expanding the access to Bitcoin for more people and giving it additional legitimacy among skeptics.
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 create a Coinme account and go through background verification. Users cannot withdraw Bitcoins from their account without any indication that this feature will be offered in the near future.
Bitcoin ATMs take 11% commission: 4% commission for Bitcoin and another 7% commission for cash exchange.
Lark Davis approved the news of Bitcoin ATMs appearing at Walmart, but other users complained about high fees.
“Commissions at BTC ATMs are very high, and besides, the current BTC price is always much higher when buying and lower when selling,” datcyberguy wrote in response to the news.