wry Posted January 18, 2019 #1 Posted January 18, 2019 After quite a few bad news posts, Cryptopia hacked, wallets being phished, time for some good news! In conjunction with Bitcoin selling service Coinme, the well known US CoinStar kiosks will start to sell Bitcoin! Right now they are limiting it to some grocery stores in California, Washington, and Texas, but I figure anything that helps make Bitcoin look more mainstream is a good thing! I went and checked out the Coinme site and got a lot less excited though, full KYC verification is required to do ANYTHING, including uploading your State issued ID, so this will NOT be a way to get people casually interested in Bitcoin to take the plunge. Still the fee seemed okay at 4%, but I have no idea how fair the actual exchange rate is however, but I figure it can't be dramatically worse than Bitpay. Ironically, you wont be able to buy Bitcoin by turning in coins, it's US paper money only, I can't imagine why, but whatever. And it looks to be for buying Bitcoin only, you can't get cash out of a CoinStar machine for your BTC. Anyone used Coinme? (It may be US only, wasn't sure.) Link to Story: https://www.coindesk.com/coinstar-partnership-aims-at-expanding-bitcoin-purchases-in-grocery-stores Link to Coinme: https://coinme.com
bmg Posted January 18, 2019 #2 Posted January 18, 2019 2 hours ago, wry said: After quite a few bad news posts, Cryptopia hacked, wallets being phished, time for some good news! In conjunction with Bitcoin selling service Coinme, the well known US CoinStar kiosks will start to sell Bitcoin! Right now they are limiting it to some grocery stores in California, Washington, and Texas, but I figure anything that helps make Bitcoin look more mainstream is a good thing! I went and checked out the Coinme site and got a lot less excited though, full KYC verification is required to do ANYTHING, including uploading your State issued ID, so this will NOT be a way to get people casually interested in Bitcoin to take the plunge. Still the fee seemed okay at 4%, but I have no idea how fair the actual exchange rate is however, but I figure it can't be dramatically worse than Bitpay. Ironically, you wont be able to buy Bitcoin by turning in coins, it's US paper money only, I can't imagine why, but whatever. And it looks to be for buying Bitcoin only, you can't get cash out of a CoinStar machine for your BTC. Anyone used Coinme? (It may be US only, wasn't sure.) Link to Story: https://www.coindesk.com/coinstar-partnership-aims-at-expanding-bitcoin-purchases-in-grocery-stores Link to Coinme: https://coinme.com Yay I so excited to read about good news. I have used Coinstar many times but only to turn pocket change into paper money. I think next time I'm at looking to buy some bitcoin I will go to a Coinstar and let you all know how it works out for me. Awesome Wry thanks for reporting happy news.😊
xtinepink Posted January 18, 2019 #3 Posted January 18, 2019 Well I really thought it is a great help for people who are having difficulties in buying btc. Sometimes I heard stories in here and in bitcointalk saying about their issues with sellers. I also checked the website and surprised about how many kiosks are already there.
blueprints Posted January 18, 2019 #4 Posted January 18, 2019 I have never heard of Coinme but i am familiar with the Coinstar Kiosks! If that starts to sell bitcoin, that would be so nice for me! Such a convenience omg buying bitcoin would become a breeze! I wonder how them logging what you buy will go for taxes. Do you guys think sacrificiing the anonymity of bitcoin is worth the convenience?
Laura2000 Posted January 18, 2019 #5 Posted January 18, 2019 thanks for the information friend, tomorrow if i have some time i want to check both pages you talk about
wry Posted January 18, 2019 Author #6 Posted January 18, 2019 2 hours ago, bmg said: I have used Coinstar many times but only to turn pocket change into paper money. Yeah, I thought that was the irony, you can't use coins to buy the BTC though! Go figure. I'm not sure how CoinStar is getting paid since normally they take a heafty fee for counting your coins. 25 minutes ago, xtinepink said: I also checked the website and surprised about how many kiosks are already there. Yes, that is an impressive number! I think Coinme already operates a Bitcoin ATM network, so it will be interesting to see. 7 minutes ago, blueprints said: I wonder how them logging what you buy will go for taxes. Do you guys think sacrificiing the anonymity of bitcoin is worth the convenience? In the USA I think you'd only owe taxes when you sold the Bitcoin, which may be why they are avoid the trading of Bitcoin through the CoinStar machines. As to anonymity, yeah, you wont have that in this situation, but then maybe that is not such a big deal. Thanks for all the comments!
Kate Posted January 19, 2019 #7 Posted January 19, 2019 On 1/18/2019 at 10:16 PM, wry said: After quite a few bad news posts, Cryptopia hacked, wallets being phished, time for some good news! In conjunction with Bitcoin selling service Coinme, the well known US CoinStar kiosks will start to sell Bitcoin! Right now they are limiting it to some grocery stores in California, Washington, and Texas, but I figure anything that helps make Bitcoin look more mainstream is a good thing! I went and checked out the Coinme site and got a lot less excited though, full KYC verification is required to do ANYTHING, including uploading your State issued ID, so this will NOT be a way to get people casually interested in Bitcoin to take the plunge. Still the fee seemed okay at 4%, but I have no idea how fair the actual exchange rate is however, but I figure it can't be dramatically worse than Bitpay. Ironically, you wont be able to buy Bitcoin by turning in coins, it's US paper money only, I can't imagine why, but whatever. And it looks to be for buying Bitcoin only, you can't get cash out of a CoinStar machine for your BTC. Anyone used Coinme? (It may be US only, wasn't sure.) Link to Story: https://www.coindesk.com/coinstar-partnership-aims-at-expanding-bitcoin-purchases-in-grocery-stores Link to Coinme: https://coinme.com Well never tried the site but coinme adding atms will bring a huge increase in total atms in Bitcoin around the world. Another thing which is annoying is the transaction time which will make people think its not going to work and its a scam and isn't going to work at all. But other than that its a good extension and a way to bring in more people.
KiXxnTRiXx Posted January 24, 2019 #8 Posted January 24, 2019 Hahaha, bitpay wasnt so bad .. coinbase is.. they still havent fixed my full name on my profile even after i sent my government id 3 times .. i keep telling them, but it seems to fall on deaf ears,, or in this case, blind eyes... lol.. oh well.. im still able to use it fully so i guess its not really that big of a deal.. but i just find it funny how, to this day, they havent corrected the mistake the sytem made when i first uploaded my ID for verification.. buy bitcoins with bills .. thats an actual strict rule?
wry Posted April 25, 2019 Author #9 Posted April 25, 2019 In a nice update to this story, Coinstar and Coinme have announced they are expanding this to another 2000 stores! So they came through on the more to follow. The linked story says that reception of this has actually been very good for Coinme. So far this appears to be a USA only story, as I didn't see any cities listed that were not in USA. Link: https://www.coindesk.com/2000-more-us-grocery-stores-enable-bitcoin-buying-at-coinstar-machines
Babagucci Posted April 25, 2019 #10 Posted April 25, 2019 On 1/19/2019 at 1:20 PM, Kate said: Well never tried the site but coinme adding atms will bring a huge increase in total atms in Bitcoin around the world. Another thing which is annoying is the transaction time which will make people think its not going to work and its a scam and isn't going to work at all. But other than that its a good extension and a way to bring in more people. You make a good point about transaction delays, if a new user wants to try out the machine and putchase some Bitcoin they will think they got scammed when they don't have their Bitcoin yet after 3 hours lol..I imagine Coinstar would try to avoid that resulting in high transaction fees. The Bitcoin ATMs do a pretty good just b in terms of getting the Bitcoin within the first hour so I imagine Coinstar will be alright. I think a big issue that lingers when it comes to adoption is a lot of people just don't understand how it works. It becomes too confusing resulting in a "regular Joe" not wanting to bother learning about it. In my opinion, If we can somehow explain what Bitcoin is and how to use in like a 3 step diagram, then there will be mass adoption.
williamshennie9 Posted April 25, 2019 #11 Posted April 25, 2019 3 hours ago, wry said: In a nice update to this story, Coinstar and Coinme have announced they are expanding this to another 2000 stores! So they came through on the more to follow. The linked story says that reception of this has actually been very good for Coinme. So far this appears to be a USA only story, as I didn't see any cities listed that were not in USA. Link: https://www.coindesk.com/2000-more-us-grocery-stores-enable-bitcoin-buying-at-coinstar-machines This is great stuff! I am relieved to see the price of bitcoin going up, which is a reflection of these positive news articles telling us how more people/stores etc. are adopting bitcoin. The more in demand bitcoin is, the higher the price
wry Posted May 23, 2019 Author #12 Posted May 23, 2019 In another update to this story, this service continues to expand across the USA! Coinstar and Coinme have added 100 new outlets where this service is available. Coinstar has described the response as "overwhelming" so I figure that is pretty encouraging. I still find it ironic that you have to use dollar bills to buy BTC not coins, but I guess that is just part of the fun. Link: https://www.coindesk.com/coinstar-expands-bitcoin-buying-service-to-cover-21-us-states
CntryBoy Posted May 23, 2019 #13 Posted May 23, 2019 I saw something about this the other day. Unfortunately, there are none near me yet but hopefully that'll change in the near future. Thank you for the info and updates.
rajamishra Posted May 23, 2019 #14 Posted May 23, 2019 hello friends this news can create a sensation in india.hope btc now came to main frame within a short period.hope this news make some hope to sticked up and refer to more people to user friendly with crypto.
bmg Posted May 23, 2019 #15 Posted May 23, 2019 Ok so bm and i tried this and it was awful. It took so long to get out btc and it was expensive and had hidden fees.
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