Bitcoin ATM: Walmart kicks off pilot program allowing shoppers to buy crypto in US stores

Walmart | Representative image.

Retail giant Walmart said it has kicked off a pilot program allowing shoppers to buy bitcoin at Coinstar kiosks in its stores. Walmart Inc on October 21 said customers at some of its US stores will be able to purchase bitcoin using ATM-like machines installed by Coinstar.

Coinstar, known for its machines that can exchange physical coins for cash, has partnered with digital currency exchange CoinMe to let customers buy bitcoin at some of its kiosks.

Read | Bitcoin down 0.53%, price above Rs 48 lakh on October 22

At present, there are 200 Coinstar kiosks located inside Walmart stores across the United States that will allow customers to buy bitcoin, a Walmart spokesperson said, as quoted by Reuters.

Last month, Walmart was subject to a cryptocurrency hoax after a fake press release was published announcing a partnership between the world's largest retailer and litecoin.

The fake statement said Walmart would allow its customers to make payments with litecoin at its online stores, sending litecoin prices up as much as 27.4 percent.

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Meanwhile, bitcoin is down 3.74 percent to trade at $63,469.14, as per Coin Market Cap.

The crypto had stormed above $66,000 for the first time on October 20, riding a wave of excitement about how the financial establishment is increasingly accepting the digital currency's rise.

A bitcoin futures exchange-traded fund (ETF), a type of financial instrument, was recently launched on the New York Stock Exchange. The news electrified demand for the cryptocurrency, which scaled an all-time pinnacle of $66,976.

The digital currency has roared back after sinking below $30,000 during the summer to top its prior record set in April.

The surge has come as more businesses, professional investors and even the government of El Salvador buy into Bitcoin, further broadening its base beyond its initial core of fanatics.