For sure the fees will be so heavy if they sell bitcoin, and just imagine people will come very often just to buy bitcoin but you can get a small of profits from it, wherein unlike holding you can really make good returns.. Seems a big mistake decision.. I prefer to hold no matter what than sell my bitcoin. because you know it's totally a waste of time, if their purpose is to spread bitcoin all over thd country will it's a good idea but what benefits what you can get from selling?
Topic: Walmart Sells Bitcoin - page 2. (Read 569 times)
I want to read here about people that are using this service and dont mind paying the 11% fee. Is anyone doing it? is it worth it for you for some reasoning?
looks like wallmart is trying to play their big name role in crypto. and this will be able to add to the value of Wallmart and Bitcoin or can be said to be mutually beneficial for both. I only ask? has wallmart taken into account everything if wallmart wants to try to combine it with bitcoin?
maybe I need an explanation about Wallmart's partnership with bitcoin in detail so that it can be trusted by the public
maybe I need an explanation about Wallmart's partnership with bitcoin in detail so that it can be trusted by the public
I think they just wanted to try if there will be a good and positive result about when they put bitcoins in their product but still people who just wanted to try to hodl bitcoins as fast as possible, they can try to buy it. But if someone makes good content about this news, it will affect the price of bitcoins in the crypto market in a positive way since Walmart is known and it is one of the big companies that has been known to have high standards.
I seriously doubt it'll accept it as payment method anytime soon. That's because Bitcoin's wild fluctuations in price makes it a terrible currency for day-to-day payments.
Why would they accept Bitcoin as a means of payment if there is actually no interest from their customers in the matter? Most perceive Bitcoin as an asset that allows them to profit (short-term and long-term), and a smaller part occasionally use it as a currency. Volatility is not a problem for sellers because everyone uses payment processors that automatically convert BTC to fiat - the problem is fees that can sometimes be significant, and that on-chain transactions are not instant.
With Walmart in the game, I wonder which other company will adopt Bitcoin next? 
I wouldn’t call it an adaptation, they just allow Coinstar to have kiosks in their stores - and it doesn’t matter at all what kind of service is provided at those kiosks, as long as it’s nothing illegal. Here, choose the one you like best -> Starbucks, Lowe's, Wendy's, Kroger, The Home Depot, Shell, Dunkin' Donuts, Subway...
That’s because why should Bitcoiners waste their coins to purchase “things” from Walmart? We don’t need censorship-resistance to buy from that store, do we? We have our cash/fiat. We are pro-Bitcoin, but cash/fiat remains useful too.
I think this implementation is intended more to newbies or to casuals who go to Walmart, I think it's a good idea but it won't be that effective considering that most of the daily customers of Walmart do not know or has little knowledge about Bitcoin, of course fiat will still be dominant but with the exposure and availability, customers will definitely use these kiosks more often.
I seriously doubt it'll accept it as payment method anytime soon. That's because Bitcoin's wild fluctuations in price makes it a terrible currency for day-to-day payments.
Why would they accept Bitcoin as a means of payment if there is actually no interest from their customers in the matter? Most perceive Bitcoin as an asset that allows them to profit (short-term and long-term), and a smaller part occasionally use it as a currency. Volatility is not a problem for sellers because everyone uses payment processors that automatically convert BTC to fiat - the problem is fees that can sometimes be significant, and that on-chain transactions are not instant.
With Walmart in the game, I wonder which other company will adopt Bitcoin next?
I wouldn’t call it an adaptation, they just allow Coinstar to have kiosks in their stores - and it doesn’t matter at all what kind of service is provided at those kiosks, as long as it’s nothing illegal. Here, choose the one you like best -> Starbucks, Lowe's, Wendy's, Kroger, The Home Depot, Shell, Dunkin' Donuts, Subway...
That’s because why should Bitcoiners waste their coins to purchase “things” from Walmart? We don’t need censorship-resistance to buy from that store, do we? We have our cash/fiat. We are pro-Bitcoin, but cash/fiat remains useful too.
I seriously doubt it'll accept it as payment method anytime soon. That's because Bitcoin's wild fluctuations in price makes it a terrible currency for day-to-day payments.
Why would they accept Bitcoin as a means of payment if there is actually no interest from their customers in the matter? Most perceive Bitcoin as an asset that allows them to profit (short-term and long-term), and a smaller part occasionally use it as a currency. Volatility is not a problem for sellers because everyone uses payment processors that automatically convert BTC to fiat - the problem is fees that can sometimes be significant, and that on-chain transactions are not instant.
With Walmart in the game, I wonder which other company will adopt Bitcoin next?
I wouldn’t call it an adaptation, they just allow Coinstar to have kiosks in their stores - and it doesn’t matter at all what kind of service is provided at those kiosks, as long as it’s nothing illegal. Here, choose the one you like best -> Starbucks, Lowe's, Wendy's, Kroger, The Home Depot, Shell, Dunkin' Donuts, Subway...
Well, it's not Walmart itself. Walmart is just hosting Coinstar kiosks which sell Bitcoin. This is in partnership with the crypto wallet and exchange, CoinMe.
For those who have been into Bitcoin for some time, this may not sound interesting at all. But given the fact that this is Walmart, the largest retail company in the world, bringing Bitcoin to the masses, this is rather big. This is bringing Bitcoin to the mainstream. For a start, because this is still in the pilot phase, 200 Coinstar kiosks are installed inside various Walmart stores across the US. If this is successful, this might become bigger in the future considering that Walmart has thousands of stores in the US.
The good thing with Coinstar kiosks is that retail buyers are allowed to buy small amounts of Bitcoin for as long as they're paying with paper bills. The downside, however, is that you are required to setup a CoinMe account which requires KYC. In addition, there is also a 4% transaction fee plus another 7% cash exchange fee.
Do you think this will be successful?
Sources:
1. https://www.reuters.com/business/walmart-allowing-some-shoppers-buy-bitcoin-coinstar-kiosks-2021-10-21/
2. https://www.coindesk.com/business/2021/10/21/walmart-has-quietly-begun-hosting-bitcoin-atms/
3. https://www.reuters.com/article/walmart-cryptocurrency-idUSL4N2RH4BL
For those who have been into Bitcoin for some time, this may not sound interesting at all. But given the fact that this is Walmart, the largest retail company in the world, bringing Bitcoin to the masses, this is rather big. This is bringing Bitcoin to the mainstream. For a start, because this is still in the pilot phase, 200 Coinstar kiosks are installed inside various Walmart stores across the US. If this is successful, this might become bigger in the future considering that Walmart has thousands of stores in the US.
The good thing with Coinstar kiosks is that retail buyers are allowed to buy small amounts of Bitcoin for as long as they're paying with paper bills. The downside, however, is that you are required to setup a CoinMe account which requires KYC. In addition, there is also a 4% transaction fee plus another 7% cash exchange fee.
Do you think this will be successful?
Sources:
1. https://www.reuters.com/business/walmart-allowing-some-shoppers-buy-bitcoin-coinstar-kiosks-2021-10-21/
2. https://www.coindesk.com/business/2021/10/21/walmart-has-quietly-begun-hosting-bitcoin-atms/
3. https://www.reuters.com/article/walmart-cryptocurrency-idUSL4N2RH4BL
It depends whenever people are willing to give away their personal identifiable information in exchange for Bitcoin at an ATM or simply recur to other means. Those who care about their privacy will look elsewhere. Walmart just wants a piece of the pie by selling Bitcoin at kiosks for profit. I seriously doubt it'll accept it as payment method anytime soon. That's because Bitcoin's wild fluctuations in price makes it a terrible currency for day-to-day payments.
At least, Bitcoin's outreach is expanding at a fast pace. It shouldn't be long enough before the whole world joins the revolution, making Bitcoin a force to reckon with. Bitcoin doesn't need Walmart, PayPal or another big corporation's support to succeed. All it needs is strong community support to be able to stand the test of time. Decentralization and censorship-resistant is what it's all about. ATMs greatly defeat Bitcoin's purpose by bringing back the middleman, but they're a great way to introduce newcomers into crypto. With Walmart in the game, I wonder which other company will adopt Bitcoin next?
I think a better title is 'Coinstar coming to WalMart, machines also sell BTC'
For converting coins to real money Coinstar takes way too much of a cut to be worth it.
Their kiosks do however have to option of some fee free gift cards. If those cards work for you it may be worth it.
For us here with the KYC & high fees it's not worth it for BTC
There are other cheaper ways and there are ways that do not require KYC.
For people who do not know better, yes it's a way to get people in and from there they can learn.
-Dave
OR simply remove KYC to make the high fees, conversion fees and higher slippage/price worth it. Because if not, then a Bitcoiner should stand beside those machines and sell people Bitcoins for how much the machines are selling then. Then argitrage buy in Bitstamp.
Wallmart's influence on bitcoin adoption is indeed very large, because wallmart is one of the largest franchises in the world and has now officially adopted bitcoin. Wallmart is also working with coin-cashing machine company Coinstar and crypto cash exchange Coinme which will soon realize the installation of 200 Bitcoin ATMs in their US stores. This is a big step for Wallmart
looks like wallmart is trying to play their big name role in crypto. and this will be able to add to the value of Wallmart and Bitcoin or can be said to be mutually beneficial for both. I only ask? has wallmart taken into account everything if wallmart wants to try to combine it with bitcoin?
maybe I need an explanation about Wallmart's partnership with bitcoin in detail so that it can be trusted by the public
maybe I need an explanation about Wallmart's partnership with bitcoin in detail so that it can be trusted by the public
I think a better title is 'Coinstar coming to WalMart, machines also sell BTC'
For converting coins to real money Coinstar takes way too much of a cut to be worth it.
Their kiosks do however have to option of some fee free gift cards. If those cards work for you it may be worth it.
For us here with the KYC & high fees it's not worth it for BTC
There are other cheaper ways and there are ways that do not require KYC.
For people who do not know better, yes it's a way to get people in and from there they can learn.
-Dave
For converting coins to real money Coinstar takes way too much of a cut to be worth it.
Their kiosks do however have to option of some fee free gift cards. If those cards work for you it may be worth it.
For us here with the KYC & high fees it's not worth it for BTC
There are other cheaper ways and there are ways that do not require KYC.
For people who do not know better, yes it's a way to get people in and from there they can learn.
-Dave
Do you think this will be successful?
The “good”, Bitcoin is currently everywhere. Everyone wants it, and a provider is prepared to sell it. BUT this is a scam in my opinion. Remove KYC, then I believe that compensates for the bad slippage and the transaction fees/cash exchange fees.
It's mostly the transaction fee that I see being commented particularly on social media. People are saying it's too high. But even so, I think there will still be people buying BTC from the kiosk. It would be interesting if they bargain that if people submit KYC, they give a bargain price and low transaction fee.
But I'm seeing wallmart going to also adopt BTC which once people buy BTC, they could use the BTC to buy stuff on wallmart.
Plus it’s also about the slippage, and how much the price to purchase through ATMs in Walmart. Bitcoin is currently priced at $62,901.01 in Bitstamp, and exchange that requires KYC. What would be the advantage for people to buy Bitcoin through KYC ATMs if it’s sold at $65,000? Remove KYC.
Even before I got to the last line where you talked about the fees that will be involved in this, I was already wondering about it, because I already knew that there is going to be a lot of fees that will be involved. This seems to be a really good idea, for the fact that they are working with a big name that’s already well known in the US, so it’s possible that there will be lot of people that would come there in anticipation to buy Bitcoin.
But, the process and the fees that will be involved my discourage a lot of them. Just look at this, they will have to create an account with Coinme, and that aside they will also have to pay fees that is like more than 10%. This doesn’t sound right to me. Anyways, let’s just wait till then I see what happens.
But, the process and the fees that will be involved my discourage a lot of them. Just look at this, they will have to create an account with Coinme, and that aside they will also have to pay fees that is like more than 10%. This doesn’t sound right to me. Anyways, let’s just wait till then I see what happens.
Do you think this will be successful?
The “good”, Bitcoin is currently everywhere. Everyone wants it, and a provider is prepared to sell it. BUT this is a scam in my opinion. Remove KYC, then I believe that compensates for the bad slippage and the transaction fees/cash exchange fees.
It's mostly the transaction fee that I see being commented particularly on social media. People are saying it's too high. But even so, I think there will still be people buying BTC from the kiosk. It would be interesting if they bargain that if people submit KYC, they give a bargain price and low transaction fee.
But I'm seeing wallmart going to also adopt BTC which once people buy BTC, they could use the BTC to buy stuff on wallmart.
Do you think this will be successful?
The “good”, Bitcoin is currently everywhere. Everyone wants it, and a provider is prepared to sell it. BUT this is a scam in my opinion. Remove KYC, then I believe that compensates for the bad slippage and the transaction fees/cash exchange fees.
Not that I’d expect many insights here really, but if anyone does have that experience it would be interesting to read, specifically the motivational drivers.
I know we have a few active US members on the forum, but they are quite experienced and know how to buy BTC much cheaper, so I sincerely doubt we can expect anyone to share their experience with this type of trading. If we exclude KYC in the process, I think that the main motive for this way of buying lies in speed and simplicity - because it all comes down to inserting banknotes/coins into the device and getting a voucher with which you then claim BTC online.
As we can see in the example of this video, the whole process takes about 2 minutes, noting that it is always necessary to prepare banknotes that are not crumpled and damaged in any way, because it is known that all devices of this type have trouble accepting such banknotes.
(click on picture to watch video)
I have 3 BTC ATMs at 10 minutes distance max. in my city, also each Walmart has one, it's getting pretty well known.
Give it few months to a year before we assess if it's successful or not. They will probably try all types of promotions so their customers could notice the bitcoin atms.
....The sacrifice of the KyC already seems a consistent norm of the advance of bitcoin.
"Regulation drives more mass adoption" is what many people have been saying since some of the institutional investors started enterring the crypto sphere. International Financial regulators were also pushing for this for years and their work is paying off for them. 
Actually, it is not only in the United States, it is found in several Central American countries with a strong presence, likewise in South America it is present in important countries such as Argentina and Chile, although this for now points only to the United States, but the fact that El Salvador is in legal bitcoin could be the beginning of favorable commercial relations, the government of El Presidente bukelee has several promotions with bitcoin in several companies, will Wallmart sign up? I think the noise starts in the United States network, but this can be extended to these countries and perhaps mainly El Salvador.
The sacrifice of the KyC already seems a consistent norm of the advance of bitcoin.
https://www.walmart.com.sv
The sacrifice of the KyC already seems a consistent norm of the advance of bitcoin.
https://www.walmart.com.sv
The fees are really high for people who have used Bitcoin from quite some time.It is also kinda like a centralized one using this only exchange for now.
Having said that I think it can be successful as Walmart stores have thousand of customers each day there and not all the people know Bitcoin and are tech-savvy so in this sense it can be a huge success by giving an option to the masses to be Bitcoin holders and users.
Having said that I think it can be successful as Walmart stores have thousand of customers each day there and not all the people know Bitcoin and are tech-savvy so in this sense it can be a huge success by giving an option to the masses to be Bitcoin holders and users.
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