2,000 More US Grocery Stores Enable Bitcoin Buying at Coinstar Machines

You can now convert coins to bitcoin at more than 2,000 Coinstar kiosks in 19 different states.

AccessTimeIconApr 24, 2019 at 6:21 p.m. UTC
Updated Sep 13, 2021 at 9:06 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Supermarket kiosk chain Coinstar is expanding the footprint of its bitcoin-buying service to more than 2,000 locations in 19 different states.

The service, through a partnership with blockchain startup Coinme that offers individuals the ability to convert cash into bitcoin, has expanded from an initial 70 machines to some 2,100 different kiosks, Coinme announced Wednesday.

Further, while the partnership initially enabled kiosks in Albertsons and Safeway stores, customers can now access the buying option in Jewel, Shaw's and Save Mart locations, according to a press release.

Coinstar CEO Jim Gaherity said in a statement that his company saw an "extremely positive" response to the initial announcement in January 2019. At the time, Coinstar announced that customers could purchase bitcoin using U.S. dollar bills, though coins would not be accepted for such transactions. The company imposed a $2,500 limit.

Wednesday's press release explained that the partnership's initial launch saw a 15 percent week-over-week growth in user acquisition, the release noted.

Moreover, the first quarter of 2019 "has been one of the most successful in Coinme's five-year history," with 92 percent growth in transaction volume and 109 percent growth in the number of transactions processed, compared to the first quarter of 2018.

"We are incredibly pleased with this collaboration with Coinme and are eager to continue expanding to new markets in the coming months," Gaherity added.

Image via Ijon / Wikimedia Commons

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.