Coinstar to sell Bitcoins through vending machines at grocery stores
Coinstar operates a huge network that could be enabled to dispense the digital currency.
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.
While there are some vendors accepting Bitcoin transactions, the controversial digital currency is still far from being widely embraced.