Coinstar, the company behind change-counting kiosks, has partnered with Coinme, a startup that operates cryptocurrency-dispensing ATMs in the US, to sell Bitcoin at places such as grocery stores.
Coinstar operates a huge network that could be enabled to dispense the digital currency. A consumer will be able to easily purchase Bitcoin with cash, TechCrunch reported.
This is how the system will work. Once you insert your paper money into one of these Bitcoin-dispensing kiosks, it will dispense a voucher for a Bitcoin redemption code that will point you to Coinme. There is a limit of USD 2500 and one needs to link a phone number to the transaction.
Coinme has digital currency ATMs in 11 states, including multiple locations in Texas, Washington and California, among others. While it’s not initially clear exactly how many machines will become Bitcoin-ready, Coinme’s site also states that the partnership will result in “thousands of places to buy Bitcoin.”
While there are some vendors accepting Bitcoin transactions, the controversial digital currency is still far from being widely embraced.
Related Article: More Than Half of the current 4000 Bitcoin ATM’s are located In the US
