Following a collaboration with Coinstar, Walmart customers can now make use of 200 Bitcoin ATMs in the retail giant’s pilot program.
The process of buying Bitcoin through these machines is straightforward but relatively costly. Shoppers will insert banknotes into the ATM, which will then issue a voucher carrying a redemption code. The voucher can only be redeemed after the completion of the Know-Your-Customer process. According to the Coinstar FAQ page, “Each purchase carries a transaction fee of 4% and a cash exchange fee of 7%.”
Translation: If you really want to buy Bitcoin with cash, this method may be a good option for you. Otherwise you can buy cryptocurrencies through exchanges. Privacy downside: Many of these exchanges are required to use a Know Your Customer (KYC) process. Upload your photo, driver’s license, and fill out other personal information.
Check It Out: Coinstar Adds Bitcoin ATMs to Walmart Retail Stores