Walmart installs Bitcoin ATMs in its stores

This time, it's not a Fake News. The American retail giant Walmart is installing Coinstar machines in its stores in the United States. These will allow Walmart customers to buy Bitcoin and other crypto-currencies.

FACTS

• Walmart mall customers will now be able to access nearly 200 Coinstar kiosks installed directly in the retail giant's stores across the United States.

• These Coinstar kiosks originally allowed customers to redeem pennies for coupons at partner merchants.

• But thanks to a partnership signed with Coinme, one of the largest U.S. crypto-currency exchange platforms, Coinstar kiosks also make it easy to buy Bitcoins.

• And that's the service that will now be offered by the kiosks within Walmart stores themselves.

• Customer Journey:

  • Customers will be able to insert bills into Coinstar machines,

  • they will have to select a crypto-currency voucher edition,

  • they will then have to create a Coinme account,

  • they will be able to use their voucher to buy crypto-assets.

• Operations performed on Coinstar machines are charged 4% for Bitcoin exchange.

• The launch of this new service is part of a pilot program. Eventually, 8,000 Coinstar machines are expected to offer this option in the United States.

ISSUES

• Rumor and false start: The history of Walmart and crypto-currencies has been marked by a false start. A false press release had indeed circulated last September, announcing a partnership between the retailer and Litecoin, one of the world's leading crypto-currencies. Before Walmart's denial, the Litecoin price had had time to jump by 32%.

• A step-by-step positioning: Walmart sees the crypto-currency market as a way to introduce new services to its customers. In particular, the retailer is looking for crypto-currency experts to join its teams.

• Democratizing crypto-currencies: The installation of "Bitcoin ATMs" in Walmart stores represents an important step on the road to democratizing Bitcoin and other crypto-assets.

MARKET PERSPECTIVE

• The Bitcoin craze is still going strong. In the last few days alone, several major announcements have been made about the world's leading crypto-currency.

• The US market is particularly concerned as the largest US bond fund Pimco announced its future investments in crypto-currencies, Wall Street welcomed its first Bitcoin ETF and Bitcoin finally broke the $65,000 mark.