Great news for all you crypto fans in the US. Bitcoin can now be purchased at select 7-Eleven, CVS and Rite Aid stores! Store locations are limited only to the United States. With the rise in popularity of Bitcoin ATM’s throughout the world, it was only a matter of time before conveniently purchasing BTC would be made available in major retail stores. Instead of the typical cash-to-crypto ATM, purchasing BTC is made through a cash register checkout.
The ability to purchase Bitcoin at these stores is made possible by the ATM startup, LibertyX. Customers who already have the LibertyX app can now use its store locator to find nearby locations that support the transaction.
Who is LibertyX?
LibertyX launched its first Bitcoin ATM in 2014 and its first cashier Bitcoin service in 2016. They currently have 5,000 ATM’s across the US where Bitcoin can be converted to and from cash.
How do I purchase Bitcoin using LibertyX?
Purchasing Bitcoin through LibertyX is really quite simple. Users must sign-up with LibertyX, make an account and download their smartphone app. You must also provide your BTC address. Inside the app, all of the supported retailers in the area will be displayed. After selecting a retailer, users can choose the ‘add cash now’ option to specify how much they would like to purchase.
LibertyX will then provide a barcode that is to be taken to the retailer where the cashier can scan it. Once scanned, the cash amount must be paid and its BTC equivalent will go into your wallet. It should be noted that retailer and miner fees will be deducted from the total amount. There is good news, however! Currently, all fees are being waved!
How safe are crypto ATM’s?
As with anything that has to deal with your money, safety and security should always be a top priority. When a lot of people hear about Bitcoin ATM’s, they often think of all the scams that are related to them. Here are some basic tips when using a Bitcoin ATM:
- Do not put cash into a Bitcoin ATM at the request of a bank, government, store or stranger. Reputable institutions will never, under any circumstance, ask you to pay them in cryptocurrency.
- Make sure that you are using an ATM that is placed by a reputable company. If you’re not sure, there are plenty of resources available online.
- Be aware of your surroundings when making a transaction.
Making Bitcoin available for purchase through giant retailers is a step in the right direction for the mass adoption of crypto. If you’d like to try this service out, please make sure to social distance and wear a mask! Keeping yourself safe is more important than keeping your crypto safe. Though, keeping your crypto safe can be done just as easy!
Storing your crypto in a hardware wallet, like the CoolWallet S, keeps your investments offline and in cold storage. While it’s great to have the option to purchase crypto at your favorite store, you can now also purchase crypto directly through the CoolBitX Crypto app and the CoolWallet.