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Bitcoin [BTC] vouchers to be sold at Coinstar following partnership with Bitcoin ATM manufacturer Coinme




Bitcoin [BTC] vouchers to be sold at Coinstar following partnership with Bitcoin ATM manufacturer Coinme
Source: Pixabay

Coinstar, a three-decade-old company dedicated to building kiosks which turn loose change into cash, has announced its collaboration with Bitcoin ATM for cryptocurrency digital assets, Coinme. With this partnership, the 27-year old kiosk installer firm aims to dive into the cryptocurrency space by enabling people to convert their money into Bitcoin.

Revealing the partnership, Neil Bergquist, co-founder of Coinme said:

“Bitcoin is now available at your local grocery store via Coinstar kiosks.”

Coinstar’s CEO Jim Gaherity said that the Bitcoin ATM, Coinme, will leverage the flexible platform of the former in providing the customers with the world’s largest cryptocurrency in exchange of money seamlessly. The CEO further cited that the move would be beneficial for consumers to participate in a constantly evolving economy.

However, coins cannot be used for Bitcoin transactions. Unlike the conventional function of Coinstar kiosks, which lets people use spare change, Amazon gift cards, etc., Bitcoins can be purchased only with cash, i.e., US Dollar bills with a limit of $2,500. To trade the digital money, the user will require to enter the phone number on the kiosk and then place the money bills on the kiosk. Following which, a code will be sent to the phone number provided for the exchange. This code can be redeemed on Coinme’s website.

Initially, the kiosks were set up in selected stores in California, Texas, and Washington. The partnership is expected to roll out, scaling up the process to other parts after the launch. With over 20,000 kiosks under its belt across the world, Coinstar kiosks will now be equipped to sell the digital currency following expansion plans.

Incepted in the year 2014, Coinme holds the title of being the first state-licensed Bitcoin ATM venture in the US. Currently, it has 20 cryptocurrency ATMs across Washington, Texas and nine other states of the country.

This new feature comes at a time when the trading volume of the cryptocurrency is in a phase of constant decline. At the time of press, Bitcoin stood at a market cap of $64 billion USD, priced at $3,660.9 USD, with a slip of 0.22% over the hour. However, the ninth-largest cryptocurrency ATM operator, Coinme’s co-founder believes that the digital coin is more valuable now.

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Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.


Bitcoin [BTC] is still going to $100,000, claims Heisenberg Capital’s Max Keiser




'Bitcoin is still going to $100,000', says Max Keiser
Source: Unsplash

CNBC’s Crypto Trader Ran NeuNer, spoke to Max Keiser, Co-founder of Heisenberg Capital on the sidelines of the Magical Crypto Conference and discussed Bitcoin’s current trends.

Keiser said that he was bullish on Bitcoin in the long term, adding that he would be sticking by his “$100,000” prediction for Bitcoin. He stated,

“I never stopped make price prediction… I said it [Bitcoin] was going to a hundred thousand dollars and it was only a dollar and I said that all publicly… it is still going to a hundred thousand dollars”

He added that the timing of when Bitcoin would reach the mark was not important, but that it would outperform every other asset over the next 15 years. Additionally, he said that timing was only for people who were waiting to buy crypto at a better price and “that is a bad way to approach crypto.”

Keiser displayed his enthusiasm for crypto, commenting that, “Stack Satoshis… Stack SATs… you should be stacking SATs.” Giving his opinion on Bitcoin’s recent rally, Keiser said,

“I think that it goes back to when Federal Reserve issued a statement saying that they’re moving the policy to permanent quantitative easing… which means money printing without end. As you know Bitcoin is hard money, like gold, and it is going to respond well to hyperinflation and hyper-money printing.”

Further, Keiser claimed that Bitcoin bottomed when the Federal Reserve announced this a few weeks ago and that this was due to a couple of reasons. The first being Bitcoin’s upcoming halving which highlights the scarcity of Bitcoin. According to Keiser, the second reason was that the sellers were exhausted. All the above reasons, in totality, contributed to Bitcoin’s price rise, claimed Keiser.

Since Bitcoin has already proven itself as a store of value, Keiser remarked that it would be best to concentrate on Lightning Network, a layer-two scalability solution for Bitcoin and improve it as a medium of exchange.

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