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Coinme’s California Kiosks Gains BTC Purchase Function

Coinme Raises $1.5 Million Funding For Expansion Of Bitcoin ATM Network

Coinstar serves as a popular automated service for various users that want a quick conversion of their fiat coins back into paper money. The company is based in the US, with over 21,000 kiosks spread around the country. Of those, 3000 kiosks have successfully been integrated with new functionality: Crypto purchases. These kiosks, with another 100 newly-initiated ones, have been made available within the Sacramento area within California.

Niches Finding Each other

Coinstar found a very unique niche within the world of finance: Exchanging their various loose change into paper money quickly and effectively. The kiosks of this company serve everywhere from financial institutions to shopping centers, proving very popular at that. It allows for the conversion of loose change into e-gift cards, donated to charity, or withdrawn as standard paper money.

Coinstar and Coinme hold a strategic partnership with each other, one that has recently allowed 3000 of the 21,000 various Coinstar kiosks to be fitted with an upgrade that allows for the purchase of Bitcoin Core, or BTC. Of that, 100 new machines have been activated in the greater Sacramento area.

Largest Kiosk Network In The Country Adds To BTC Use

Coinstar boasts one of the largest kiosk networks in the country. With this in consideration, Coinme has gained a massive opportunity to introduce fledgling users not only to Bitcoin but the crypto industry as a whole.

Bearish Institutional Investors Set Up an Interesting Bitcoin Price Watch in 2020

Neil Bergquist, the co-founder and CEO of Coinme, gave a public statement about the matter in his January 9th press release. He described the ability to match the growing demand from customers as “very gratifying” by way of their new Coinstar relationship. He, obviously, explained that Coinstar was an excellent partner for this, helping users access and use various forms of digital currency.

Jim Gaherity, the CEO of Coinstar, gave his two cents about the matter as well. He explained that the response of consumers in regards to this new BTC option had been very much a positive one. With this in consideration, the company is more than happy to expand this access into the Sacramento area.

Global Acceptance With KYC Measures

However, it’s not as easy as the companies are spelling it out to be. In regards to purchasing BTC by way of Coinstar, one must comply with strict KYC regulations, as well as already having made a Coinme account.

In the end, this stands as a testament to how far the crypto world is starting to be integrated into mainstream lifestyles. It’s only a matter of time before conventional fiats dissolve in the wake of cheaper, more efficient crypto formats.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.