Walmart is rolling out a program for customers to exchange cash for Bitcoin at select Coinstar machines in its stores.
The pilot program, which started earlier this month, makes cash-to-Bitcoin transactions available at 200 select Coinstar machines. Coinme, a cryptocurrency payment firm that has been operating Bitcoin ATMs since 2014, operates the transactions via the machines.
“Coinstar, in partnership with CoinMe, has launched a pilot that allows its customers to use cash to purchase Bitcoin,” a Walmart spokeswoman told the Washington Examiner. “There are 200 Coinstar kiosks located inside Walmart stores across the United States that are part of this pilot.”
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Coinstar machines are best known for converting coins into paper money or gift cards. Though a press release last month said that Walmart would be accepting cryptocurrency Litecoin as payment proved to be a hoax, an editor at cryptocurrency news website Coindesk verified that the service works.
The service works by inserting cash into the machine and receiving a paper voucher that can be redeemed by setting up a Coinme account. It charges a 4% fee for the Bitcoin option and a 7% cash exchange fee.
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Bitcoin, the largest cryptocurrency, reached a record high on Wednesday, soaring to above $65,000.
