Coinstar machines are huge coin-cashing kiosks situated at grocery stores, drug stores, and various retail locations such as the UK, US, Ireland as well as Canada. Many customers regularly use the machines to modify loose change in the gift or bill cards. At present, Coinstar functions in more than 20,000 of these machines all over the world.
As per the news published in Cointelegraph, Coinme, the first state-licensed Bitcoin ATM Corporation in the U.S., stated that it collaborated with Coinstar to provide bitcoin on the coin-counting kiosks. Customers are now able to buy till $2,500 worth of bitcoin at these machines at choice Safeway and Albertson stores in California, Texas, and Washington. Those who purchase bitcoin at one of these kiosks will get a coupon that is exchangeable for bitcoin on the Coinme website.
If fruitful, the corporation thinks to enhance to new locations and retailers in the United States. Many of such machines can be allowed to ease bitcoin dealings. Neil Bergquist, Coinme’s co-founder, had this to say about the move:
The writers of the report show the quick increasing competences in advanced nations such as the U.S., Germany, and Japan, and the growing rate of cryptocurrency acceptance as major development factors in the cryptocurrency ATM market.
As per the report published in September 2018 on ResearchandMarkets.com the crypto automated trading machine (ATM) market will increase to $200 million by 2023.
Investigators expect the cryptocurrency ATM market to grow from $16.3 million in 2018 to $144.5 million by 2023, citing a compound annual growth rate (CAGR) of 54.7 percent from 2018 to 2023.
The report further stated that a significant development at the time of the prediction period would be from ATMs, which will allow the customers to alter its digital currency into a single user machine. The study also informs that the functionality of the device is the critical driver of two-way cryptocurrency ATMs’ acceptance among users.