Walmart Sells Bitcoin

[Wind_FURY]

Do you think this will be successful?

The “good”, Bitcoin is currently everywhere. Everyone wants it, and a provider is prepared to sell it. BUT this is a scam in my opinion. Remove KYC, then I believe that compensates for the bad slippage and the transaction fees/cash exchange fees.

It's mostly the transaction fee that I see being commented particularly on social media. People are saying it's too high. But even so, I think there will still be people buying BTC  from the kiosk. It would be interesting if they bargain that if people submit KYC, they give a bargain price and low transaction fee.

But I'm seeing wallmart going to also adopt BTC which once people buy BTC, they could use the BTC to buy stuff on wallmart.

Plus it’s also about the slippage, and how much the price to purchase through ATMs in Walmart. Bitcoin is currently priced at $62,901.01 in Bitstamp, and exchange that requires KYC. What would be the advantage for people to buy Bitcoin through KYC ATMs if it’s sold at $65,000? Remove KYC.

[DaveF]

I think a better title is 'Coinstar coming to WalMart, machines also sell BTC'
For converting coins to real money Coinstar takes way too much of a cut to be worth it.
Their kiosks do however have to option of some fee free gift cards. If those cards work for you it may be worth it.

For us here with the KYC & high fees it's not worth it for BTC
There are other cheaper ways and there are ways that do not require KYC.

For people who do not know better, yes it's a way to get people in and from there they can learn.

-Dave

[spyderbilt]

looks like wallmart is trying to play their big name role in crypto. and this will be able to add to the value of Wallmart and Bitcoin or can be said to be mutually beneficial for both. I only ask? has wallmart taken into account everything if wallmart wants to try to combine it with bitcoin?

maybe I need an explanation about Wallmart's partnership with bitcoin in detail so that it can be trusted by the public

[AakZaki]

Wallmart's influence on bitcoin adoption is indeed very large, because wallmart is one of the largest franchises in the world and has now officially adopted bitcoin. Wallmart is also working with coin-cashing machine company Coinstar and crypto cash exchange Coinme which will soon realize the installation of 200 Bitcoin ATMs in their US stores. This is a big step for Wallmart

[Wind_FURY]

I think a better title is 'Coinstar coming to WalMart, machines also sell BTC'
For converting coins to real money Coinstar takes way too much of a cut to be worth it.
Their kiosks do however have to option of some fee free gift cards. If those cards work for you it may be worth it.

For us here with the KYC & high fees it's not worth it for BTC
There are other cheaper ways and there are ways that do not require KYC.

For people who do not know better, yes it's a way to get people in and from there they can learn.

-Dave

OR simply remove KYC to make the high fees, conversion fees and higher slippage/price worth it. Because if not, then a Bitcoiner should stand beside those machines and sell people Bitcoins for how much the machines are selling then. Then argitrage buy in Bitstamp.

[Abiky]

Well, it's not Walmart itself. Walmart is just hosting Coinstar kiosks which sell Bitcoin. This is in partnership with the crypto wallet and exchange, CoinMe.

For those who have been into Bitcoin for some time, this may not sound interesting at all. But given the fact that this is Walmart, the largest retail company in the world, bringing Bitcoin to the masses, this is rather big. This is bringing Bitcoin to the mainstream. For a start, because this is still in the pilot phase, 200 Coinstar kiosks are installed inside various Walmart stores across the US. If this is successful, this might become bigger in the future considering that Walmart has thousands of stores in the US.

The good thing with Coinstar kiosks is that retail buyers are allowed to buy small amounts of Bitcoin for as long as they're paying with paper bills. The downside, however, is that you are required to setup a CoinMe account which requires KYC. In addition, there is also a 4% transaction fee plus another 7% cash exchange fee.

Do you think this will be successful?

Sources:
1. https://www.reuters.com/business/walmart-allowing-some-shoppers-buy-bitcoin-coinstar-kiosks-2021-10-21/
2. https://www.coindesk.com/business/2021/10/21/walmart-has-quietly-begun-hosting-bitcoin-atms/
3. https://www.reuters.com/article/walmart-cryptocurrency-idUSL4N2RH4BL

It depends whenever people are willing to give away their personal identifiable information in exchange for Bitcoin at an ATM or simply recur to other means. Those who care about their privacy will look elsewhere. Walmart just wants a piece of the pie by selling Bitcoin at kiosks for profit. I seriously doubt it'll accept it as payment method anytime soon. That's because Bitcoin's wild fluctuations in price makes it a terrible currency for day-to-day payments.

At least, Bitcoin's outreach is expanding at a fast pace. It shouldn't be long enough before the whole world joins the revolution, making Bitcoin a force to reckon with. Bitcoin doesn't need Walmart, PayPal or another big corporation's support to succeed. All it needs is strong community support to be able to stand the test of time. Decentralization and censorship-resistant is what it's all about. ATMs greatly defeat Bitcoin's purpose by bringing back the middleman, but they're a great way to introduce newcomers into crypto. With Walmart in the game, I wonder which other company will adopt Bitcoin next?

[Lucius]

I seriously doubt it'll accept it as payment method anytime soon. That's because Bitcoin's wild fluctuations in price makes it a terrible currency for day-to-day payments.

Why would they accept Bitcoin as a means of payment if there is actually no interest from their customers in the matter? Most perceive Bitcoin as an asset that allows them to profit (short-term and long-term), and a smaller part occasionally use it as a currency. Volatility is not a problem for sellers because everyone uses payment processors that automatically convert BTC to fiat - the problem is fees that can sometimes be significant, and that on-chain transactions are not instant.

With Walmart in the game, I wonder which other company will adopt Bitcoin next?

I wouldn’t call it an adaptation, they just allow Coinstar to have kiosks in their stores - and it doesn’t matter at all what kind of service is provided at those kiosks, as long as it’s nothing illegal. Here, choose the one you like best -> Starbucks, Lowe's, Wendy's, Kroger, The Home Depot, Shell, Dunkin' Donuts, Subway...

[Wind_FURY]

I seriously doubt it'll accept it as payment method anytime soon. That's because Bitcoin's wild fluctuations in price makes it a terrible currency for day-to-day payments.

Why would they accept Bitcoin as a means of payment if there is actually no interest from their customers in the matter? Most perceive Bitcoin as an asset that allows them to profit (short-term and long-term), and a smaller part occasionally use it as a currency. Volatility is not a problem for sellers because everyone uses payment processors that automatically convert BTC to fiat - the problem is fees that can sometimes be significant, and that on-chain transactions are not instant.

With Walmart in the game, I wonder which other company will adopt Bitcoin next?

I wouldn’t call it an adaptation, they just allow Coinstar to have kiosks in their stores - and it doesn’t matter at all what kind of service is provided at those kiosks, as long as it’s nothing illegal. Here, choose the one you like best -> Starbucks, Lowe's, Wendy's, Kroger, The Home Depot, Shell, Dunkin' Donuts, Subway...

That’s because why should Bitcoiners waste their coins to purchase “things” from Walmart? We don’t need censorship-resistance to buy from that store, do we? We have our cash/fiat. We are pro-Bitcoin, but cash/fiat remains useful too.

[dupee419]

I seriously doubt it'll accept it as payment method anytime soon. That's because Bitcoin's wild fluctuations in price makes it a terrible currency for day-to-day payments.

Why would they accept Bitcoin as a means of payment if there is actually no interest from their customers in the matter? Most perceive Bitcoin as an asset that allows them to profit (short-term and long-term), and a smaller part occasionally use it as a currency. Volatility is not a problem for sellers because everyone uses payment processors that automatically convert BTC to fiat - the problem is fees that can sometimes be significant, and that on-chain transactions are not instant.

With Walmart in the game, I wonder which other company will adopt Bitcoin next?

I wouldn’t call it an adaptation, they just allow Coinstar to have kiosks in their stores - and it doesn’t matter at all what kind of service is provided at those kiosks, as long as it’s nothing illegal. Here, choose the one you like best -> Starbucks, Lowe's, Wendy's, Kroger, The Home Depot, Shell, Dunkin' Donuts, Subway...

That’s because why should Bitcoiners waste their coins to purchase “things” from Walmart? We don’t need censorship-resistance to buy from that store, do we? We have our cash/fiat. We are pro-Bitcoin, but cash/fiat remains useful too.

I think this implementation is intended more to newbies or to casuals who go to Walmart, I think it's a good idea but it won't be that effective considering that most of the daily customers of Walmart do not know or has little knowledge about Bitcoin, of course fiat will still be dominant but with the exposure and availability, customers will definitely use these kiosks more often.

[yazher]

looks like wallmart is trying to play their big name role in crypto. and this will be able to add to the value of Wallmart and Bitcoin or can be said to be mutually beneficial for both. I only ask? has wallmart taken into account everything if wallmart wants to try to combine it with bitcoin?

maybe I need an explanation about Wallmart's partnership with bitcoin in detail so that it can be trusted by the public

I think they just wanted to try if there will be a good and positive result about when they put bitcoins in their product but still people who just wanted to try to hodl bitcoins as fast as possible, they can try to buy it. But if someone makes good content about this news, it will affect the price of bitcoins in the crypto market in a positive way since Walmart is known and it is one of the big companies that has been known to have high standards.

[larry_vw_1955]

I want to read here about people that are using this service and dont mind paying the 11% fee. Is anyone doing it? is it worth it for you for some reasoning?

[Ararbermas]

For sure the fees will be so heavy if they sell bitcoin, and just imagine people will come very often just to buy bitcoin but you can get a small of profits from it, wherein unlike holding you can really make good returns.. Seems a big mistake decision.. I prefer to hold no matter what than sell my bitcoin. because you know it's totally a waste of time, if their purpose is to spread bitcoin all over thd country will it's a good idea but what benefits what you can get from selling?

[Abiky]

Why would they accept Bitcoin as a means of payment if there is actually no interest from their customers in the matter? Most perceive Bitcoin as an asset that allows them to profit (short-term and long-term), and a smaller part occasionally use it as a currency. Volatility is not a problem for sellers because everyone uses payment processors that automatically convert BTC to fiat - the problem is fees that can sometimes be significant, and that on-chain transactions are not instant.

Bitcoin's adoption is accelerating at a fast pace, so there's that. Walmart's got nothing to lose by accepting Bitcoin as payment method, since it can simply cash it out to Fiat whenever it wants to. The United States is a country where Bitcoin and crypto is widely known by everyday people so there's a possibility customers would want to pay in BTC at Walmart for goods and services. The reason why Walmart hasn't adopted Bitcoin as payment method is simply because of price volatility and limited transaction capacity. If it wasn't by that, it would've made the move already. At least, there are kiosks available to exchange BTC to Fiat (or vice versa) at any Walmart store. No matter how you see it, Coinstar's decision to adopt Bitcoin will greatly benefit Bitcoin's mainstream adoption in the long run.

[DewiKirana]

I think Walmart with selling Bitcoin through CoinMe will be successful, because of the Walmart retail stores that are spread across the US and also the level of trust people have in Walmart.

[Vaskiy]

Large scale firms like MicroStrategy, Square, Bitcoin Group were all into cryptocurrency holding. Whenever there is some sort of market crash, they try to accumulate as much possible. This is the first time one of the large scale firm is supporting the adoption and helping with the ease of access.

Walmart which is known around the globe making a partnership with popular Bitcoin ATM manufacturers Coinstar and CoinMe to widen the bitcoin market is a big step. Maybe this will be followed by other firms that have chain of stores. Walmart have laid the first stone at the right time.

[MIner1448]

This is actually a breakthrough in fiat transactions over the blockchain.
After all, the popularization of cryptocurrency, together with such a giant as Velmart, will be even faster and more pleasant, here I see some advantages from such a mechanics of selling goods and services. In general, great news and a smart innovation from the owners of this torus network.

[rodskee]

Well, it's not Walmart itself. Walmart is just hosting Coinstar kiosks which sell Bitcoin. This is in partnership with the crypto wallet and exchange, CoinMe.

Even if this is not directly a Walmart action towards selling Bitcoin yet their participation is quite a big to help this community grow more.
this will lead to more adoption from Walmart costumer specially those who has no idea what  is Bitcoin all about.

Do you think this will be successful?

Successful or not? what i am thinking is there will be a positive effect towards Bitcoin and also Walmart users.
I'm sure that there will come a time that they will try to adopt or at least Use Bitcoin towards their transacting .

[peter0425]

This is actually a breakthrough in fiat transactions over the blockchain.
After all, the popularization of cryptocurrency, together with such a giant as Velmart, will be even faster and more pleasant, here I see some advantages from such a mechanics of selling goods and services. In general, great news and a smart innovation from the owners of this torus network.

Where is the VELMART? is that another Business? sorry but I think I am Losing here 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

I don't know what are you talking about here lol.

I think Walmart with selling Bitcoin through CoinMe will be successful, because of the Walmart retail stores that are spread across the US and also the level of trust people have in Walmart.

This is Indeed the advantage of both parties, Bitcoin and also Walmart and CoinMe.

I may think that we are now moving the next level of adoption here.

[AmoreJaz]

Well, it's not Walmart itself. Walmart is just hosting Coinstar kiosks which sell Bitcoin. This is in partnership with the crypto wallet and exchange, CoinMe.

Even if this is not directly a Walmart action towards selling Bitcoin yet their participation is quite a big to help this community grow more.
this will lead to more adoption from Walmart costumer specially those who has no idea what  is Bitcoin all about.

Do you think this will be successful?

Successful or not? what i am thinking is there will be a positive effect towards Bitcoin and also Walmart users.
I'm sure that there will come a time that they will try to adopt or at least Use Bitcoin towards their transacting .

usually customers will avail the service if it is readily available to them. so these walmart customers, if they see BTC kiosks, they will be curious and maybe they will try checking how to transact with crypto. and since btc is gaining interest from everywhere because of the price increase this year, more then likely, some of them will be interested to get their hands on crypto. we can never tell the adoption it may bring, but for sure, there will be some noncrypto users that later on will be converted to be crypto user. and once they got the taste of using crypto, either they will continue using it or not. and if they will continue, they can easily spread it via word of mouth.

[germsite]

Well, it's not Walmart itself. Walmart is just hosting Coinstar kiosks which sell Bitcoin. This is in partnership with the crypto wallet and exchange, CoinMe.

Even if this is not directly a Walmart action towards selling Bitcoin yet their participation is quite a big to help this community grow more.
this will lead to more adoption from Walmart costumer specially those who has no idea what  is Bitcoin all about.

Do you think this will be successful?

Successful or not? what i am thinking is there will be a positive effect towards Bitcoin and also Walmart users.
I'm sure that there will come a time that they will try to adopt or at least Use Bitcoin towards their transacting .

I don't know if that is such a boost to Bitcoin and its ecosystem. As far as I know Walmart charges crazy high fees. I am not sure where they have their businesses in the world, but in the USA why would someone pay a hefty fee for acquiring Bitcoin when that person can just sign up with an exchange?

Doesn't make all too much sense to me.

"The machines charge a 4% fee for the Bitcoin option and a 7% cash exchange fee, Coindesk said."