Coinme, a blockchain fintech company that enables people to buy Bitcoin collaborates with Coinstar, a coin-counting kiosk leader to roll-out a massive expansion of Bitcoin kiosk’s network, spreading across 23 states in the US.
The largest Bitcoin kiosk network is now in major metro markets including Austin, Boston, Chicago, Houston, Los Angeles, Philadelphia, San Diego, Seattle and the District of Columbia. The partnership was first formed in January, wherein Bitcoin-enabled kiosks were launched in selected locations at major US supermarkets, Albertsons and Safeway, across Washington, California, and Texas.
Other retailers include Shaw’s, Woods Supermarkets, Jewel, Lucky, Acme, Randalls and Strack & Van Til along with certain kiosks located in shopping districts and malls such as the Northridge Fashion Center in Los Angeles, the Town Center at Aurora, Towne West Square in Wichita, Cottonwood Mall in Albuquerque and Spokane Valley Mall.
Neil Bergquist, the CEO of Coinme stated that the growth has been rapid at 15% week over week. Jim Gaherity, Coinstar CEO, says:
“The response to being able to purchase Bitcoin at Coinstar kiosks has been extremely positive with overwhelming demand by both consumers and new retailer partners.”
The customer will have to find a select Coinstar kiosk, touch “Buy Bitcoin,” review and accept the transaction terms, and enter a phone number. After which they will have to provide the exact amount of US dollars into the cash acceptor, up to $2,500. A voucher is issued by the kiosk that contains the Bitcoin redemption code.
In the end, the user will visit coinme.com/redeem and either signs into an existing account or creates a new account to claim the Bitcoin purchase. BTC is deposited into the user’s Coinme wallet within 10-30 minutes, minus a 4% service fee.
According to the official announcement, the vertically-integrated network of crypto ATMs, digital wallet, and private client services has been processing millions of dollars each month. The sale from the first quarter of 2019 lead the company’s five-year history, with 38% growth in user acquisition, 92% gains in transactions volume, and 109% growth in transactions processed compared to the first quarter of 2018.
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