Walmart Orders Installation of 200 Bitcoin ATMs in U.S. Retail Stores

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In an effort to actively participate in the crypto adoption campaign, US retail giant Walmart has decided to install 200 Bitcoin ATMs in select store branches across the country. People visiting Walmart stores will be able to insert a banknote in exchange for a paper voucher containing a redemption code. People are required to create an account on a cryptocurrency exchange and perform a background check. In the case of Walmart, the cryptocurrency platform is Coinme.

However, these Bitcoin ATMs will not allow customers to withdraw Bitcoin from their account. The world’s most valuable cryptocurrency, Bitcoin is currently trading at $ 66,000 (around Rs. 49.4 lakh).

“Walmart is expanding access to Bitcoin to more people, however, and giving it additional legitimacy among skeptics, if they deploy it beyond an initial pilot,” in a report, Bloomberg industry experts said.

Public reaction to the news has been overwhelming on social media.

As part of its future plans, Walmart aims to install around 8,000 Bitcoin ATMs in its retail stores across the United States.

While these ATMs can potentially prove essential in accelerating Bitcoin adoption in the United States, they charge a hefty 11% surcharge on every transaction.

While four percent is for the Bitcoin option, the other seven percent is for cache swap fees. These fees are comparatively lower on crypto exchanges such as Binance and Coinbase, among others.

Bitcoin ATMs are also speeding up in other parts of the world. In El Salvador, for example, Bitcoin ATMs allow people to transact with the crypto token or convert it to fiat. In September, El Salvador became the first country in the world to legalize Bitcoin as legal tender.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Cryptocurrency is unregulated digital currency, not legal tender and subject to market risk. The information provided in the article is not intended to be and does not constitute financial advice, business advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV will not be responsible for any loss resulting from any investment based on a perceived recommendation, forecast or any other information contained in the article.


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