US citizens can buy and withdraw bitcoin to cash using MoneyGram

[MrcMrc]

Moneygram with a cryptocurrency exchange (coinme) to work on a feature that allows users to buy cryptocurrency with fiat/cash or withdraw their digital currency to the US💵 dollars from all brick-and-mortar locations around the US, the company stated that this service will spread to another part of the world before the second half 2021 is over.

Financial Services providers such as PayPal and MasterCard have incorporated crypto into their services.

Moneygram is another leading financial services provider to accept crypto-cash transactions.

Moneygram has teamed up with bitcoin exchange and bitcoin ATM operator (come) on this development.

This is significant news as crypto gains more mainstream adoption.
https://www.cnbc.com/2021/05/12/moneygram-to-let-cryptocurrency-traders-cash-in-their-investments.html?utm_content=Main&utm_medium=Social&utm_source=Facebook&fbclid=IwAR08bMHlXCrXVveLOs52gnh-dWcq_BtPIxEAAgsF7OwEagm1CNgrbF2Orxk#Echobox=1620824992

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[Caross]

This is a welcome development towards making crypto more accessible. We await the official launch of the service by MoneyGram to see how it will positively affect the entire crypto market.

[Kabul]

bitcoin is being adopted by different parts in the world. We need more good news like this to push the price of bitcoin higher because right now, bitcoin is suffered a huge sell-off after being rejected by Tesla. Moneygram is not a big company anymore but I bet this news will contribute a lot to the bitcoin market

[Imran232]

That is a huge news for them now they are getting more easier solution to use bitcoin. I wish one day i will post our countries a payment method approve bitcoin transaction through them. Then it will be my best day in crypto ever. Because of ban on crypto in our country our most know problem is buy/selling issue. We have to use a huge risky p2p way and have verification problem which is truely a little bit pain ful. If government approve bitcoin then our mobile banking sector will also approve it then it will be best time for us. Hope soo our countries do it soon. By the way congratulations to moneygram & bitcoin users.

[LeGaulois]

What is not mentioned in this thread is that in order to actually buy and withdraw bitcoin to cash at a Moneygram point, you have to be a customer of their partner Coinme.

If you are a customer on this exchange, what's the point of going to a Moneygram point when you can do the same thing at home on your couch?


Wait to see what fees will be in place before saying that this is good news. That's 2 middlemen to buy BTC. And evidently, each one takes its share of the pie. If you're going to end up spending 5% to 10% of your money on fees as you do with Bitcoin ATMs or credit cards, I don't think it's such good news. Just some opportunists looking to make money.

It's good to see payment processors and money transfer companies starting to look seriously at Bitcoin but they don't bring something new to the table. People have a lot of better and cheaper alternatives.
But hey! #moneymatters, if something can make them money they will jump on it, whatever it is Bitcoin, bananas, paper toilet