While watching a video from Bitboy Crypto, I noticed something very interesting on his screen-share. It was from Coinstar, the network of coins for cash kiosks found all over the US announcing on the ad that you can now buy Bitcoin at the Coinstar machine. Though you cannot buy Bitcoin with the coins (yet), this is a lowkey impactful move from Coinstar, which according to this Redditor, officially started last year.
Partnering with Coinme, shoppers in the USA can now buy Bitcoin at over 20,000 Coinstar locations.
As of writing, US citizens can buy Bitcoin from Coinme partnered Coinstar machines in:
Arizona California Colorado Georgia Idaho Illinois Indiana Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana New Hampshire New Jersey North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina Texas Utah Vermont Washington
Washington D.C. Wisconsin Wyoming
This is good news as a more legitimate brand, found in supermarkets around the world, has now made it easier for people to buy Bitcoin.
The process to buy BTC will be similar to that of the usual Bitcoin ATM. Consumers will:
Insert bills in the machine
Enter their phone numbers
Receive a voucher to redeem Bitcoin
Go to coinme.com/redeem to redeem voucher
Fill in email, phone, fullname and code
Verify identity (via Onfido). with either a passport, driver license, or ID.
Take a selfie
Wait 5 minutes for verification and create a wallet on Coinme's website
Enter the PIN upon wallet creation to transfer the bought BTC.
Receive and/or send Bitcoins
While this did begin last year, look for this to be a common method for consumers to buy Bitcoin because of its sheer convenience. It may be a bit more complex to do compared to Cash App or Paypal, but it will become the best way to turn cash into Bitcoin for those without access to Bitcoin ATMs.
If you're new to the crypto world, check out my free dictionary, that teaches you all the terms you need to know to stay hip to the game.