There is nothing denying the fact the cryptocurrencies are bringing about a revolution in the business sector. They are completely changing the dynamics of transferring of money and making payments. With time, more and more international organization, businesses, and investors are developing a more crypto friendly approach. This is why crypto is becoming more visible and relevant to the consumer sector.
Several countries are now trying to make ways for the crypto industry to thrive in their regions. This has also helped crypto in becoming more universal. The developed and the developing world, both are adopting crypto at a fast pace. Hence, crypto market is now a trillion dollar industry and offers tons of opportunities to people around the world. Many organizations and brands like Tesla and Starbucks did accept Bitcoin and other cryptos. Even though Tesla has now stopped accepting Bitcoin as a payment gateway but still it shows the increasing relevance of the concept.
In a recent development, Walmart has also carried forward with its initial plan of planting Bitcoin ATMs. Walmart is an American multinational retail company, and it collaborated with Coinstar and CoinMe to implant 200 Bitcoin ATMs in its store branches across the US. Coinstar is a coin-cashing company whereas CoinMe is a renowned cryptocurrency exchange in the region.
Walmart plans to eventually install 8,000 BTC ATMs
In this pilot program, Walmart has only installed 200 kiosks. But the final plan concludes that almost 8,000 Bitcoin ATMs will be placed across the US. According to media reports, there are about 25,000 bitcoin ATMs at selected grocery stored and service station within the US. However, Coinstar manages about 4,400 kiosks in 33 states across the country.
Bitcoin ATMs are not a new development, however, their practical implementation in stores like Walmart is surely a news worthy of attention. It shows that Bitcoin gives more options to people and helps them in making payments and transaction rather comfortably.
Customers can use Bitcoin ATM by inserting a currency bank note and they will receive a voucher that has a redemption code on it. Customers can redeem that voucher through their Coinme accounts. These Bitcoin ATMs have an 11% surcharge with a 4% fee for the Bitcoin option, and an extra 7% fee for cash exchange.
The development is welcomed by crypto enthusiasts, and they believe that it is a sign of increasing crypto adoption in the public sectors.