Walmart Begins Bitcoin ATM Pilot at 200 American Stores

Adoption ATM Bitcoin retail

Author

Tim Alper

Author

Tim Alper

About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Author Profile

Share

Copied

Last updated:

June 26, 2023 06:54 EDT

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

The American retail behemoth Walmart has begun a crypto pilot that involves installing bitcoin (BTC) using ATM machines at 200 of its outlets in the United States.

The pilot involves the firm Coinstar, which operates the machines and is rolling out 8,000 devices across the country, in partnership with the crypto exchange Coinme, per Reuters and Bloomberg.

A spokesperson for the retailer stated that the pilot had “begun earlier this month.”

However, as it’s usual for BTC ATMs, it’s a low-cost process. The ATMs reportedly charge a 4% fee for buying bitcoin, and a 7% cash exchange fee. 

Bloomberg quoted Sam Doctor, the Chief Strategy Officer and Head of Research at the crypto brokerage BitOoda, as calling the move “an expensive way to buy bitcoin,” but agreeing that it “lowers the barriers to entry for first-time buyers of crypto.”

Doctor added:

“Walmart expands bitcoin access to more people,and gives it further legitimacy among skeptics, should they roll it out beyond an initial pilot.”

Source: coinatmradar.com

Walmart has long held an interest in crypto and particularly blockchain technology: In 2019, nine of its blockchain-related patent applications were revealed in a single day, and the firm was among the first major American retailers to pilot blockchain-powered food traceability solutions.

In August this year, the company posted a job ad for a new Digital Currency and Cryptocurrency Product Lead.

And last month, Walmart denied reports that it had struck a deal with the operators of the litecoin (LTC) token after a fake press release, whose authors are unknown, duped media giants such as CNBC and Reuters.

___
Learn more: 
– Crypto ATM Provider CoinFlip Adds Dogecoin, ‘Validating Its Legitimacy’
– Elon Musk Says There’s No Bitcoin ATM at Gigafactory, But There is A But

– Litecoin’s Lee Admits Tweet Screw-Up, Denies Responsibility for Fake News
– El Corte Inglés Fast-tracks Bitcoin-flavored Brand Name Registrations