Recognize those Coinstar machines inside of your local grocery store to swap your spare change out for more usable currency? Well these machines just received a super cool new feature – the option to purchase Bitcoin. Coinstar partnered with Coinme, a startup that operates a small network of cryptocurrency-dispensing ATMs around the country, to now offer Bitcoin.
“Coinstar is always looking for new ways to offer value to our consumers when they visit our kiosks, and Coinme’s innovative delivery mechanism along with Coinstar’s flexible platform makes it possible for consumers to easily purchase Bitcoin with cash,” Coinstar CEO Jim Gaherity said in the announcement.
Coinstar has 20,000 machines around the world, in which it operates a large network that are capable of dispensing digital currency if enabled. The company’s announcement states that there are “thousands in the U.S. market that can be enabled to accept Bitcoin transactions,” though Techcrunch notes it probably will not reach those numbers for quite some time.
On the other hand, Coinme currently has digital currency ATMs in 11 states, including several locations in Texas, Washington and California, amongst others. Though it’s unclear just how many machines will offer this Bitcoin feature, Coinme’s site states the partnership will result in “thousands of places to buy Bitcoin.”
Buying Bitcoin seems to be pretty easy with Coinstar, though you will need cash for the exchange as trading digital money or credit for cryptocurrency is not available. After putting your cash into one of the machines, the newfangled kiosk will dispense a voucher for a Bitcoin redemption code that directs you to Coinme. The max limit is $2,500 and a phone number must be linked to the transaction.
