Fun

Coinme Adds BTC Purchase Function to Over 100 Coinstar Kiosks in California

News Feed - 2020-01-14 03:01:58

Coinme Adds BTC Purchase Function to Over 100 Coinstar Kiosks in California


With over 21,000 kiosks in the U.S., Coinstar is a popular automated service for those who want to turn their fiat coins into paper cash. 3,000 of these kiosks have been integrated with Coinme to include crypto purchase functionality, and more than 100 BTC-integrated Coinstar kiosks are now newly available in the greater Sacramento, California area.


Also Read: Bitcoin ATMs Installed at 5 Major Malls in the US Over 100 Kiosks Updated With BTC Purchase Capability


Coinstar found an effective business model in helping people cash in their accumulated change in quick and convenient fashion. The kiosks, found at popular shopping centers and financial institutions across the U.S., allow for loose change to be converted into paper cash, turned into e-gift cards, or used for a charitable donation. Thanks to a strategic partnership between Coinstar and Coinme, 3,000 of the over 21,000 Coinstar kiosks are now revamped to allow the purchase of bitcoin core (BTC), with over 100 machines in the greater Sacramento area being the latest addition.


Turning Loose Change Into Cash, Then Crypto


Coinstar’s kiosk network is said to be the largest in the country, and as Coinme’s ATM and kiosk network is also extensive, the integration with Coinstar seems a noteworthy opportunity for onboarding curious users to crypto. Neil Bergquist, CEO and co-founder of Coinme stated in a January 9 press release: It’s very gratifying to meet the growing customer demand through our relationship with Coinstar, and we couldn’t ask for a better partner to help people access and utilize the power of digital currency.


Coinstar’s CEO, Jim Gaherity , also commented: “There are 3,000 Coinstar kiosk locations across the country that have the Bitcoin purchase functionality and the consumer response has been very positive. We’re happy that the expansion continues with access now in the Sacramento area.”


While BTC isn’t purchasable directly via loose change at the kiosks, users could theoretically acquire the crypto by first dumping in their change, getting the cash for the applicable fee, and then using said paper cash to buy BTC. Coinme ATM and kiosk locations across the U.S. A Simple Process, but With Privacy Concerns


The process for turning fiat into crypto is fairly straightforward, but involves the use of vouchers, and extensive KYC requirements such as the submission of a phone number and photo ID. Users also need to have a Coinme account as part of this process. This in view, privacy valuing bitcoiners might not find the news too groundbreaking. Considering the IRS’s rabid pursuit of anyone even smelling of crypto in recent months, combined with a lack of clarity on the reporting process, some would-be new users seem to be shying away from becoming too involved.


For those who wish to acquire bitcoin conveniently, and without all the privacy invasion, private trading networks like local.Bitcoin.com allow users all over the world to buy and sell bitcoin cash (BCH) via a variety of payment options, with no KYC/AML process. A new market feature has also been added, allowing users to list items for sale to be paid in BCH.


What do you think of Coinme’s strategic partnership with Coinstar and the addition of more than 100 BTC purchase points in and around Sacramento? Let us know in the comments section below.


Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images courtesy of Shutterstock, fair use.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. Share this story: Tags in this story ATM, Bitcoin, Bitcoin business, bitcoin cash, business, coinme, Coins, Coinstar, Crypto ATMs, Fiat, Local.bitcoin.com, on-ramps Related NBA Star Spencer Dinwiddie Just Tokenized His Own Contract NEWS | Kai Sedgwick


The news that Brooklyn Nets star Spencer Dinwiddie was to roll out an Ethereum-based investment vehicle for his own contract… read more. Online Bullion Marketplace Onegold Sees $50 Million in Crypto Payments NEWS | Jamie Redman


On January 13, the online bullion marketplace Onegold announced the launch of a new mobile application so customers can buy,… read more. Graham Smith


Graham Smith is an American expat living in Japan, and the founder of Voluntary Japan—an initiative dedicated to spreading the philosophies of unschooling, individual self-ownership, and economic freedom in the land of the rising sun. Please enable JavaScript to view the comments powered by Disqus.

News Feed

Canada to begin implementing international crypto tax reporting standard
Derek Andersen7 hours agoCanada to begin implementing international crypto tax reporting standardCanada is aiming to have the OECD standard for crypto asset tax reporting in place by 2027, as agreed with 46 other countri
Conflicting Reports Emerge About SEC Helping Bankrupt Crypto Exchange FTX With Legal Loopholes
Conflicting Reports Emerge About SEC Helping Bankrupt Crypto Exchange FTX With Legal Loopholes The U.S. Securities and Exchange Commission (SEC) reportedly met with crypto exchange
Why is the crypto market up today?
Nancy Lubale4 hours agoWhy is the crypto market up today?The crypto market is up today as bears succumb to heavy liquidations and improvements in the stock market boost investor sentiment.389 Total viewsListen to article
Solana gains 2% during market downturn — Is $200 within reach?
Marcel Pechman3 hours agoSolana gains 2% during market downturn — Is $200 within reach?SOL’s bullish momentum persists, but its TVL remains much smaller than some of its competitors.2331 Total views2 Total sharesList
Jon Rice3 hours agoPay-to-use blockchains will never achieve mass adoptionBlockchain projects should learn from Google and Facebook by monetizing their users without directly asking for their money.1645 Total views16 Tot
Will UK Labour gov’t follow Germany’s example and liquidate 61,245 BTC?
Turner Wright8 hours agoWill UK Labour gov’t follow Germany’s example and liquidate 61,245 BTC?After 14 years, Labour is in control of the UK government. Chancellor of the Exchequer Rachel Reeves may have discretion
Saudi Arabia launches ‘cultural’ metaverse to celebrate founding day
Arijit Sarkar13 hours agoSaudi Arabia launches ‘cultural’ metaverse to celebrate founding dayThe Saudi government’s Cultural Universe metaverse initiative takes a user through the long history of Saudi Arabia datin
Yashu Gola4 hours agoXRP price faces Q4 rout and 20% dropXRP has entered a strong correction cycle after testing a multiyear resistance trendline. Is the bull market on pause for now?3507 Total views33 Total sharesListen
William Suberg12 hours agoBitcoin bull market FOMO absent as BTC price nears key $39K profit zone“We’re still early,” an analyst says as Bitcoin profitability dynamics reveal a shift in BTC supply profitability on
JPMorgan CEO Jamie Dimon to Shareholders: Decentralized Finance, Blockchain Are Real
JPMorgan CEO Jamie Dimon to Shareholders: Decentralized Finance, Blockchain Are Real JPMorgan Chase CEO Jamie Dimon sees decentralized finance (defi) and blockchain as real, new te
BitGo integrates Stacks for Bitcoin rewards, following institutional BTC demand
Zoltan Vardai10 hours agoBitGo integrates Stacks for Bitcoin rewards, following institutional BTC demandThe integration comes due to growing institutional demand for Bitcoin, according to Stacks’ ecosystem investor lea
The First of Its Kind Metachain Project, ShuttleOne Joins Tezos Protocol
The First of Its Kind Metachain Project, ShuttleOne Joins Tezos Protocol press release PRESS RELEASE. ShuttleOne, the latest project to embrace Tezos, to soon drive adoption and liq