Are We to See Bitcoin ATMs at Supermarkets Soon?

By Swati Kishore

Grocery stores are a part and parcel of every consumer’s daily lives. Decisions are made every day at these stores where consumers choose how to lead their lives.

While these decisions may appear to be small, however, they have a far-reaching impact on the lives of the decision-maker. The supermarket’s across the world home major technological advances that are currently sweeping the world.

With cryptocurrency still evading adoption by the masses, the big question remains whether these grocery stores, which the masses have such familiarity with, will drive the adoption of cryptos, or do these supermarkets, which are also the harbingers of technological innovations, need Bitcoin ATMs to streamline their processes and cater to every buyer on the map?

While both of these questions might be answered differently depending on the audiences that they are asked to, one thing remains clear- if a company wants to take Bitcoin mainstream, then the supermarkets would be the right place to start.

It was just last year when the news of tobacco retailers selling Bitcoin in France aroused the curiosity of the crypto community.

French FinTech firm Keplerk joined hands with a cash register software provider to bring the world’s top cryptocurrency into the reach of the smokers. The company aimed to provide Bitcoin vouchers to customers as they shopped for their favourite cigarette.

American coin cashing company Coinstar has over 20,000 kiosks spread across four countries. And as per a report, as much as 90% of the population in the United States lives within a 5-mile reach of a Coinstar Bitcoin ATM. Such consumer access to Bitcoin says something. Not only that, Coinstar has plans to launch their Bitcoin vending kiosks in high-density areas. Albertsons and Safeway stores already boast Bitcoin vending machines.

According to Neil Bergquist, who is the CEO of Bitcoin ATM provider, CoinMe, as much as 40% per cent of the US population is ‘crypto curious’ or in other words, these consumers are aware of Bitcoin and may know someone in their circle of friends and family who owns it.

Bergquist is of the opinion that these Bitcoin ATMs could prove to be quite helpful to the immigrant community in the US who are often paid in cash. Cash can easily be converted into Bitcoin and then transmitted back home at less cost.

While we still can’t answer whether Bitcoin ATMs at supermarkets will be a thing in the times to come, however, we are sure that crypto companies will make every effort to sell the concept to the consumers as long as there is demand for the world’s largest cryptocurrency.