Coinstar Expands Bitcoin Buying Services in 2,000 US Supermarkets

By Tracy Hannes | May 1, 2019
Coinstar Expands Bitcoin Buying Services in 2,000 US Supermarkets

Kiosk chain Coinstar has been enlarging its bitcoin-buying services by placing over 2,000 US grocery stores in 19 states in the country.

As announced in the press release, Coinstar is partnering with Bitcoin ATM company Coinme to provide users the convenience to buy bitcoin at any supermarkets installed Coinstar machines. The kiosk chain has expanded its business from the previous 70 machines to 2,100 kiosks.   

At the initial launch, Coinstar and Coinme offered their service in Safeway or Albertsons stores across California, Texas, and Washington. Now customers can easily convert their cash to bitcoin in other grocery chains including Jewel, Shaw’s, and Save Mart.

Back in January, Coinstar becomes the first to offer the option to buy bitcoin in the supermarket just by using U.S. dollar bills. At the time, Coinstar kiosks were gaining a 15 percent week-over-week growth with the new service. Jim Gaherity, Coinstar CEO also shared his thoughts on the expansion of the company “The response to being able to purchase bitcoin at Coinstar kiosks has been extremely positive with overwhelming demand by both consumers and new retailer partners. We are incredibly pleased with this collaboration with Coinme and are eager to continue expanding to new markets in the coming months.”

The press release also noted that this is “one of the most successful in Coinme’s five-year history” by achieving 92 percent growth in transaction volume compared to Q1 2018.

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