Andrew Caballero-Reynolds/AFP via Getty Images)
- Shoppers can now purchase bitcoin in various Walmart stores on the back of a new pilot program.
- It's all thanks to a joint initiative between Coinstar and Coinme, CoinDesk was first to report.
- There are 200 Coinstar kiosks inside Walmart stores, a Walmart spokesperson told Insider.
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Shoppers can now purchase bitcoin in various Walmart stores across the US, and the companies behind the pilot program have bigger plans ahead.
Coinstar, a company whose machines are known for exchanging physical coins for cash, and Coinme, a bitcoin ATM company, have placed kiosks in the stores, CoinDesk was the first to report.
Walmart spokesperson Molly Blakeman confirmed to Insider that there are 200 Coinstar machines located inside Walmart stores.
The program is part of a bigger initiative by Coinstar and Coinme, which both plan to offer bitcoin in more than 8,000 kiosks across the country.
Coinme, founded in 2014, is the first licensed bitcoin ATM company in the US. To purchase bitcoin, users need to set up a Coinme account, insert their cash (coins are not accepted) then redeem their voucher.
There is a $2,500 limit per day. Shoppers also need to pay a 4% transaction fee on top of a 7% cash exchange fee, according to Coinstar's website.
Meanwhile, Blakeman noted that the bitcoin kiosk initiative is not spearheaded by Walmart. But she added the retail giant has been exploring how to foray into the digital asset space as evidenced by a job opening published in August. Walmart, at that time, said it was looking for a senior director to lead its digital currency strategy.
If it does decide to accept crypto as a form of payment, it will be joining the company of other major firms from PayPal to Tesla.