Bitcoin ATMs are coming to an additional 800-plus convenience stores in the Midwest of the United States.
Kwik Trip Inc. inked an agreement with Coinsource to bring the kiosks to its network of c-stores in Wisconsin, Minnesota, Illinois and Iowa. The installations are underway, according to Fort Worth-based Coinsource, a bitcoin ATM network.
"We are delighted to be partnering with Coinsource and facilitating simple access to bitcoin for our customers. We understand Coinsource's aim of providing the fastest, easiest and most secure way to buy and sell cryptocurrencies and how a key part of this is placing the bitcoin ATMs in convenient and easily accessible locations," said Dave Wagner, controller of La Crosse-based Kwik Trip.
"As an added benefit, we know our customers are getting the best deal since Coinsource has the lowest proven rates plus industry-leading compliance, which really sealed the deal," Wagner added.
Coinsource's fee is 11 percent nationwide, with an accurate bitcoin price and no hidden fees, with miner fees covered for each transaction. Additionally, Kwik Trip Rewards members will have access to lower rates.
As of April, there are nearly 38,000 bitcoin ATMs across the world and bitcoin has become part of the conversation in the convenience channel. Last year, Ankeny, Iowa-based Circle K formed an exclusive international partnership with Bitcoin Depot that spans both the United States and Canada. By July 2021, more than 700 bitcoin ATMs have already been installed in 30 states.
In May 2021, Sheetz partnered with Flexa to provide customers with the ability to pay for items inside the store or fill up on the forecourt using digital currencies like bitcoin, ether, litecoin, and dogecoin. With the pact, the Altoona, Pa.-based retailer became the first c-store chain to accept the digital currency in-store and at the pump.
Retail technology solutions provider NCR Corp. also identified cryptocurrency as a trend to watch in 2022, noting that retailers and payments vendors are catering to the growing number of cryptocurrency users by adding in-store and online capabilities allowing them to make in-store purchases using digital currencies like bitcoin.