Coinme, a cryptocurrency-to-cash exchange based in the U.S., is launching over 300 Bitcoin-enabled Coinstar kiosks, according to a press release.
Founded in 2014, Coinme operates nearly 6,000 physical locations, where customers may buy and sell bitcoin using cash through a partnership with Coinstar, a coin-cashing machine with nearly 20,000 locations in four countries.
“Our team has been working with state regulators in an effort to launch Coinme on Coinstar kiosks throughout the state, and we are thrilled to secure a license to offer a cash onramp to purchasing bitcoin to the residents of Florida,” Neil Bergquist, co-found and CEO of Coinme said in the release. “Through our partnership, we’re able to continue to expand into new areas to meet the ever-growing demand of accessible avenues to purchasing digital currencies.”
A recent Coinstar-sponsored survey found that 23% of people who would purchase cryptocurrencies would do so from a Bitcoin ATM or kiosk. Nearly one in five respondents said they would prefer to buy cryptocurrency with cash and over half advised they would purchase it as an investment.
Purchasing bitcoin at Coinstar kiosks via Coinme offers customers a quick and safe way to turn cash into bitcoin instantly. Unlike traditional Bitcoin ATMs, the process of buying bitcoin at Coinme-enabled Coinstar kiosks offers advantages to the customer including:
- Users may purchase bitcoin using the Coinme Wallet
- Coinme operates in over 6,000 locations across 44 states nationwide, making purchasing accessible.
- All transactions are backed by Coinstar’s security standards and regulatory compliance.
- Users only need a valid mobile phone number, a driver’s license or state I.D. card, and cash in U.S. dollars to conduct a purchase.
“The current mainstream demand for bitcoin has attracted many first-time investors who need straightforward and secure access to cash avenues to purchase it,” Jim Gaherity, CEO of Coinstar said in the release. “We’ve been eager to bring Coinme to our kiosks in Florida, and now our customers there can easily attain it through a number of Coinme-enabled Coinstar locations near them.”
The Coinme Bitcoin ATMs will be in Jacksonville, Miami, Orlando, and Tampa. across from select Winn Dixie, Fresco y Mas, Harvey’s and other grocery outlets across the state.