Bitcoin News

U.S grocery stores to offer Bitcoin purchases with Coinstar kiosks

Bitcoin ATM companies teaming up with international services such as Coinstar

There has been a recent partnership between a United States Bitcoin ATM company and the international coin counter, “Coinstar” in order to offer Bitcoin purchasing facilities in new locations.

According to recent reports from the Washington-based Coinme that has been operating Bitcoin ATM’s since 2014, they confirmed a deal on January 17th via a press release.

There has not been an exact implementation date yet, however, the company has given a reference that there will be thousands of U.S locations served by Coinstar.

Also, the company has plans on deploying more than 20,000 kiosks with Coinstar.

The Cofounder and CEO of Coinme, Neil Bergquist, commented that:

“We’re excited to team up with Coinstar to give consumers a convenient and easy way to buy Bitcoin during the course of their daily routines.”

These implementations have already been live, with the users uploading evidence of them using Bitcoin features on social media.

“Bitcoin is now accessible at your local grocery store via Coinstar kiosks, and this offering will make it even easier for consumers to participate in this dynamic new economy.”

The ATM’s will allow for purchases of up to $2,500 in BTC with a few steps. For purchases up to this amount, the process will be a little different, like providing your phone number, using vouchers and paper money in the machines slots.

Users will be asked to create accounts on www.coinme.com/redeem in order to claim their bitcoins as a safe option.

Adoption of bitcoin in daily global transactions

When the company pushes to reach its target at 20,000 Bitcoin ATM locations, the partnership will increase the total amount of Bitcoin ATMs by almost a factor of five.

Data at CoinATMRadar shows that the U.S has over 2488 machines in operations currently. This is around 60% of the global total amount of BTMs that have already been deployed.

The CEO of Coinstar Jim Gaherity also mentioned that the company is always looking for new ways to offer value to its consumers when visiting these kiosks.

According to statistics coming from a study on September 2018, the Bitcoin ATMs (BTMs) industry is likely to muster in a valuation of about $145 million within five years.

Following the rumble in the crypto-sphere, the Bitcoin ATM manufacture named Lamassu has moved to Switzerland, as the regulations in other jurisdictions have been unfavourable.

Cryptocurrency is well supported in Switzerland, as the country has forged a landscape for the sector with banks looking to integrate its services with cryptocurrency.

The development of ATMs in the country is still quit low however, with just 46 Bitcoin ATMs available to the public, alongside ticket machines at every train station.

What are your thoughts on these developments? Feel free to leave a comment down below.

coinmag

My occupation is the Research of blockchains and their practical applications in the economy. I have graduated through various levels of education, including electrical technique, Business, Psychology, and innovative technologies.

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