Coinstar Expands Bitcoin-Buying Service, Adds 100 New Outlets

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Supermarket kiosk network Coinstar has further enlarged its bitcoin-buying service, putting up roughly 100 new outlets and increasing U.S. coverage to 21 states and the District of Columbia.

The service, provided through collaboration with blockchain startup Coinme, now enables customers to purchase bitcoin with fiat at more than 2,200 locations, Coinme revealed May 22. As of April, the service was accessible at roughly 2,100 locations in 19 states.

The service enables purchases for any amount up to $2,500 using U.S. dollar bills, not coins.

Jim Gaherity, CEO of Coinstar, stated that the service had witnessed a favorable response, receiving “overwhelming” demand from new retail partners and consumers. He also shared that Coinstar will continue to pursue new markets “in the coming months.”

At present, supported cities include Boston, Dallas-Fort Worth, Chicago, Houston, Philadelphia, Los Angeles, Seattle, San Diego, and Washington D.C, among others.

Coinstar initially collaborated with Coinme early this year to allow bitcoin purchases at Safeway or Albertsons stores in Texas, California, and Washinton states at the time. In April, it provided support for Shaw’s, Jewel, Save Mart, and more.

Neil Bergquist, co-founder and CEO of Coinme, said:

“Bitcoin and other digital currencies offer unique benefits to consumers – including the potential for more cost-effective and faster remittances to family and friends.”

In total, Coinstar stated it now owns and manages more than 20,000 fully automated self-service coin-counting kiosks in nine countries, including thousands in the U.S. that enable bitcoin purchases.