Walmart Installs 200 Bitcoin ATMs, Plans to Install 8,000 Total

Walmart plans to eventually install 8,000 Bitcoin ATMs in the United States and has already installed 200 in a pilot program.
Walmart has partnered with coin exchange company Coinstar and cryptocurrency cash exchange CoinMe to install 200 Bitcoin ATMs in its stores across the United States.
According to Bloomberg, while the pilot project only includes 200 Bitcoin ATMs, the wider rollout is planned to eventually see 8,000 Bitcoin ATMs installed across the country. No further details on the timing of the rollout have been released.
According to Coin ATM Radar, there are now more than 25,000 Bitcoin ATMs in select grocery stores and service stations across the U.S. Coinstar operates 4,400 Bitcoin purchasing kiosks in 33 states.
Sam Doctor, Chief Strategy Officer and Head of Research at BitOoda, told Bloomberg that while Bitcoin ATMs are not a new development and can be found in many supermarkets:
“However, Walmart’s expansion of Bitcoin’s use to more people could also give Bitcoin further legitimacy among skeptics if they continue to roll it out beyond their initial pilot.”
Customers can use a Bitcoin ATM by inserting a paper bill and receiving a paper voucher with a redemption code. To redeem the code, customers need to first set up a Coinme account and complete a background check. Users cannot withdraw Bitcoin from their accounts, and there is no indication that this feature will be offered in the near future.
Bitcoin ATMs have an 11% surcharge, including a 4% transaction fee and an additional 7% cash conversion fee.
In comparison, popular cryptocurrency exchanges Binance and Coinbase charge 3%-4.5% and 3.99% for debit and credit card transactions, respectively. Users can deposit directly from their bank accounts to their Binance or Coinbase wallets for free.
Some welcomed the news as a sign of mainstream adoption, with influencer Lark Davis saying: “Walmart now sells Bitcoin… pretty cool!” However, other users complained about the high fees.
Responding to the news, datcyberguy tweeted: “Bitcoin ATM fees are notoriously high, and the ‘current’ BTC price is always much higher when buying, and much lower when selling.”
Reddit user Axatar commented: “This is a scam, but at least it’s a sign of adoption — they think some people might pay huge fees just because they want BTC.”
This is not the first time Walmart has shown interest in the crypto space. In August, the retail giant announced it was looking for a head of crypto products to drive the company's digital currency strategy. The job posting has been removed from Walmart's website, but there are still job ads for the position on LinkedIn.
Walmart China has also partnered with VeChain, a blockchain-based supply chain management platform, to track products.
However, the news that Walmart operates a Bitcoin ATM has also raised some questions. In September, Walmart issued a fake press release announcing a partnership with Litecoin (LTC). The scam caused the price of LTC to surge by more than 20%. (Cointelegraph)