Pilot Launch: Bitcoin Now Available at 200 Walmart Locations
Retail giant Walmart has confirmed that customers can now purchase Bitcoin at 200 of its U.S. stores. The service is offered through Coinstar kiosks located within the stores, marking the latest step in the company’s exploration of cryptocurrency. The pilot began earlier this month, according to Walmart spokesperson Molly Blakeman.
How It Works and Fees
To buy Bitcoin, customers must visit a Coinstar kiosk at a participating Walmart and have an account with Coinme, a cryptocurrency exchange. The transaction comes with a 4% transaction fee and an additional 7% cash exchange fee, totaling 11% in fees. After completing the purchase, users receive a paper voucher that can be redeemed for BTC instantly on Coinme. Notably, only paper money is accepted — coins cannot be used to buy Bitcoin through these kiosks.
Coinstar's Expanding Crypto Network
Coinstar and Coinme have been collaborating to offer Bitcoin purchases at over 8,000 kiosks nationwide, including the 200 Walmart locations. Other retail chains hosting these kiosks include CVS, Hy-Vee, Winn-Dixie, Fresco y Mas, and Harveys.
Walmart’s Growing Crypto Ambitions
The pilot comes shortly after Walmart was the target of a fake press release falsely claiming the retailer would accept Litecoin. Despite the incident, Walmart continues to investigate how cryptocurrencies could fit into its business. In August, the company posted a job opening for a “digital currency and cryptocurrency product lead” to drive the vision for its crypto and blockchain product roadmap.