Walmart Kicks Off Pilot Program Allowing Shoppers To Buy Crypto In US Stores

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Retail giant Walmart has recently made the news yet again, allowing this one-stop-shopping mega-chain to offer yet another service to its 265 million valued customers. The superstore kicked off a cryptocurrency campaign on October 21, with representatives announcing that some of its US stores will allow customers to purchase bitcoin using ATM kiosks installed by Coinstar.

Coinstar has partnered with the digital currency exchange CoinMe to allow customers to buy bitcoin in addition to exchanging physical coins for cash. Currently, there are 200 kiosks nationwide located in Walmart stores that allow for this type of exchange.

Real deal or hoax?

It appears that the latest press releases are correct, though this wasn’t the case as recently as last month. The retail giant had been subject to a cryptocurrency hoax via a faulty press release detailing a partnership between the store chain and a crypto company called Litecoin. The statement claimed that store patrons could begin using cryptocurrency such as Litecoin to make online payments, a deal that turned out to be false. Despite these faulty claims, the news was enough to drive Litecoin prices up almost 30 percent, which sent investors and customers alike clamoring to buy.

Riding the wave

Bitcoin has been the subject of much market study and scrutiny for years now, with a skyrocketing price of $66,000 per coin as of October 20th. This rise seems to indicate growing consumer excitement about the financial institution’s acceptance and use of digital currency for future use. The trend has become so mainstream that a bitcoin futures ETF, or exchange trade fund, was launched on the New York Stock Exchange. Bitcoin’s exponential growth since April of this year has investors predicting that this will become the next expected global currency.

Surging in popularity: Can we weather the changes?

With this surge in crypto popularity, more businesses, investors, and even foreign governments are buying into mediums of exchange such as bitcoin, exacerbating its continual rise. With the growing demand for this type of currency and the accessibility to both professional and amateur investors, time will tell as to whether we can weather currency changes and embrace new ways of engaging in global commerce.

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