The change in the jar on your vanity can be redeemed at 10,000 Coinstar kiosks in supermarkets and stores nationwide for cash — or now crypto.
Coinstar has been allowing customers to buy Bitcoin through its kiosks since 2019 through a partnership with Coinme, a cryptocurrency exchange. But as of Wednesday, the same kiosks that many used to exchange money for cash can also be used for Ethereum, Dogecoin, Chainlink, Litecoin, Lumens and Polygon.
“Customers have asked us to offer coins other than Bitcoin on Coinstar kiosks that support Coinme,” Coinstar CEO Jim Gaherity said in a statement. “We want to make it easy for people, regardless of how familiar they are with crypto, to get started with cash-based digital currencies at their local grocery stores.”
Those interested in buying cryptocurrency at the kiosk must first select a special option on the machine. After entering a phone number, they are asked to enter the amount of cash they wish to convert and will receive a voucher from the kiosk including a code to redeem via the Coinme App or the website.
The user is then required to verify KYC (know your customer) — upload a selfie and photo of your driver’s license or ID — to create a Coinme wallet, and the crypto is instantly available for spending or transferring. to another wallet.
Buying cryptocurrency can sometimes be a complicated experience for the non-tech savvy, but several products, including Coinstar Kiosks and Bitcoin ATMs, claim to offer customers an experience better experience. In the US alone, there are an estimated 34,000 of these Bitcoin ATMs, according to coinatmradar.com, machine tracking.
Coinstar and Coinme have stated that Coinme-enabled kiosks are better than Bitcoin ATMs because, among other reasons, the company offers lower fees and they do not require users to enter information for a separate crypto wallet.
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