Much Wow: Dogecoin Could Be A Good Boy At Supermarkets With Coinstar ATM Deal
Several popular cryptocurrencies are being added to more ATMs around the country. Here are the details about these cryptocurrencies and where to find them.
What Happened: More than 10,000 ATMs across the U.S. will allow users to purchase cryptocurrency with cash via crypto onboarding service Coinme partnering with Coinstar, as reported by Decrypt.
Six cryptos were added to the existing (CRYPTO: BTC) partnership. The new cryptocurrencies offered are:
Chainlink (CRYPTO: LINK)
Polygon (CRYPTO: MATIC)
Stellar (CRYPTO: XLM)
Coinme CEO Neil Bergquist said the cryptocurrency partnership with Coinstar allowed it to scale to 10,000 additional physical locations. The crypto can be purchased and then stored in the Coinme wallet or sent to any other wallet.
“Coinme is the easiest way to buy or sell crypto using cash or debit instantly! We make crypto safe, accessible, and simple for all at over 21k trusted retail locations,” the company’s website said.
Coinme labeled itself as the “nation’s largest cryptocurrency cash network” with partnerships with Coinstar and Moneygram International (NASDAQ: MGI).
The wait is over! Coinme is going beyond bitcoin and is now offering the top cryptocurrencies to buy with cash at over 10K Coinme-enabled, Coinstar locations!
Find a location near you: https://t.co/LecjMSqKPV#CashToMATIC #CashToLTC #CashToDOGE #CashToXLM #CashToLINK #CashToETH pic.twitter.com/VWTQHkLVgr
— Coinme (@Coinme) August 24, 2022
Related Link: 10 Companies That Now Accept And Dogecoin As Payment
Why It’s Important: Coinstar, which was formerly a public company, has more than 20,000 total kiosks nationwide. CEO Jim Gaherity said customers have been asking for new cryptocurrency assets to be added to its Coinme partnered kiosks.
“We want to make it easy for anyone, regardless of their familiarity with crypto, to get started with digital currencies with cash in their local grocery stores,” Gaherity said.
Coinstar’s website says that 90% of the U.S. population lives within five miles of a Coinstar kiosk.
A further partnership between Coinme and Coinstar for the remaining kiosks could be a big win for the cryptocurrency sector, bringing the number of ATMs nationwide up and increasing the ease of usage among major cryptocurrencies.
Dogecoin has been a popular addition to cryptocurrency ATMs over the last year with Bitcoin of America adding the crypto to 1,800 ATMs in March.
Dogecoin grew in popularity as a meme coin but has also seen its acceptance and adoption by major companies increase over time. Companies including AMC Entertainment Holdings Inc (NYSE: AMC), Newegg Commerce Inc (NASDAQ: NEGG) and Tesla Inc (NASDAQ: NASDAQ:) accept Dogecoin as payment for items.
In April, the mobile payment app maker for automated retail PayRange Inc announced it would allow payment with cryptocurrencies on the app including Bitcoin, Ethereum and Dogecoin.
Photo: Tada Images via Shutterstock
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