In a win for adoption, the popular coin-counting machine empire Coinstar has partnered with Bitcoin ATM Coinme to introduce Bitcoin functionality, according to an announcement on Coinstar's website
Neil Bergquist, the CEO of Coinme paints the move as introducing a kind of recognizability into crypto, telling KUOW, ‘With bitcoin, it's this new magic internet money— it doesn't really have a face. By teaming up with Coinstar, which has a trusted market segment, ‘now you can walk into your neighborhood grocery store with Coinstar — a company that's been around for 20 years, is worth over a billion dollars — and now you can buy bitcoin on that kiosk instantly in a trusted method.’
While Coinstar is predominantly used to count spare change and turn it into more usable forms of money, the plan isn’t to allow people to turn spare change into Bitcoin. Rather, because Bitcoin is predominantly bought in larger transactions, Coinstar machines along the west coast will be introducing a Bitcoin ATM feature where Bitcoin can be bought with paper money.
So far 180 locations have BTC functionality and there are plans to roll out to over 1000 in a few weeks.