Hey everybody,
first off I'd like to give a HUGE THANK YOU and SHOUT-OUT to fellow crypto-addict and actifitter @runridefly for posting about these CoinStar machines. I feel like they have been around for a while now but they are recently rolling out Bitcoin support on their thousands of machines! The other day, there were only 2 supported in town here and now there are 3 and this one is by my place! Look at that sexy bitcoin sign!
I did go on a very quick walk in Palmer Park today, but I do that every day, so let's get back to the crazy awesome nerdy blockchain goodness...
This machine was right next to the RedBox machine. I would go for $1 of bitcoin over a $1 DVD rental any day :D
"Use Cash to Buy Crypto" I love it!!! Fomo, right here with the food and essentials. This was a Safeway supermarket.
I also love this big warning page that pops up when you choose Bitcoin.
This warning is basically telling you:
This is blockchain baby, better not fuck up!! Also mentions that they do KYC and that you have a limited amount of time to buy bitcoin at that certain price.
As you can see, the spot price they gave me was $4,200 which was a couple hundred over current price at the time. There is also a 4% fee. I honestly don't even give a shit about either of these things, because if it means they make more money off this bitcoin business, and make all their machines compatible, that is a WIN in my book! I don't have that much money right now or else I would have done more, but it was really sweet converting a $10 bill into 228,136 satoshis!
What happens at the end is it prints out a little receipt for the transaction that you take to coinme.com/redeem (coinme is the bitcoin software in the coinstar machines) and then you set up an account there, it asks for the usual drivers license image and selfie to set up the account and then once the bitcoin is redeemed, it's sent to your CoinMe web wallet (this is actually on-chain which is surprising) and then you have the ability to send your bitcoin to any bitcoin address you wish (it even supported my segwit withdraw address) and it even lets you choose how many satoshis per byte you want to pay for the fee! Totally unbelievable. You should definitely consider searching for "coinstar bitcoin machines" in your area! https://www.coinstar.com/bitcoin
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Just something to think about:
Soon, coinstar will have rolled out bitcoin support to all of their 17,000+ coinstar machines in the USA :O
Awesome, I have a crap load of change and these are in every Walmart. I'll check to see if they have the Bitcoin option tomorrow.
Definitely worth checking out! You can use this to search to see if any are in your city yet. But new ones are added daily! https://www.coinstar.com/bitcoin
Nice count! Suoer interesting post! I am in the Philippines but from the USA. No bitcoin vending machines here, nor redbox! Thanks!
Well hopefully you get something like this soon in your area to help with crypto adoption (:
That would be nice!
Are the fees expensive on those machines?
The fee is 4% and the max buy is $2,500 which means the max fee is $100 for the biggest purchase. I spent $10 and the fee was 4% ($0.40) which is not that bad considering many exchange withdrawal fees will charge you more than this (the average withdraw fee is 0.001 - 0.0005 bitcoin which is a few dollars) and when you login to the online account it lets you choose your fee when withdrawing. So I withdrew paying less than $0.01 with a 1 satoshi-per-byte fee (: I'm very satisfied with the whole experience!
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