MoneyGram Debuts Cash-For-Bitcoin Trades At Over 12,000 Locations

MoneyGram Debuts Cash-For-Bitcoin Trades At Over 12,000 Locations
фото показано с : zycrypto.com

2021-5-13 00:11

Physical cryptocurrency ATMs were one of the first markers of progress for the crypto industry starting from the early to the mid-2010s. Crypto ATMs essentially indicated that there was significant demand for cryptocurrency, specifically bitcoin, and as the markets for cryptocurrency have grown, so has the prevalence of bitcoin and general crypto ATMs.

Now, MoneyGram has announced that thanks to a new partnership with Coinme, the number of physical bitcoin ATMs in the United States is set to double. As a result of this, MoneyGram will add bitcoin services to about 12,000 locations in the United States in May and by June 2021, another 5000 locations will be added.

Details About the Deal

Some details have been revealed about how the purchasing of bitcoin will work, mostly as a mix of traditional over-the-counter services and modern technology. First, users have to download the Coinme app and then buy their crypto through the app. They will then be given a code that must be presented to a MoneyGram teller within five minutes to finalize their transaction.

This is a rather unusual way to buy crypto as digital currencies are typically bought completely online. Coinme CEO, Neil Bergquist argues, however, that there is a market for in-person bitcoin purchases despite what most might think.

The people who need these sorts of in-person services are those that are unbanked, according to him, and do not have access to traditional banking services. As such, these sorts of physical kiosks, some of which are located in stores like Walmart, are very much needed. 

Another group that will benefit from this development is the immigrant population that can use these funds to remit funds back home. 

“This innovative partnership opens our business to an entirely new customer segment as we are the first to pioneer a crypto-to-cash model by building a bridge with Coinme to connect bitcoin to local fiat currency,” said MoneyGram CEO Alex Holmes.

Besides buying bitcoin over the counter, users will also have the opportunity to sell their bitcoins as well. While a majority of bitcoin users are likely to carry out their transactions digitally, this will tap into new and generally overlooked segments of the population.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Global Cryptocurrency (GCC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0034358 (-100%)

atms crypto cryptocurrency moneygram bitcoin significant general

atms crypto → Результатов: 126


Фото:

As Crypto ATMs Gain Popularity, Hackers Are Peddling Malware Targeting the Machines

Observant people living in major urban centers might have noticed by now a new type of ATM popping up. These are called cryptocurrency ATMs, and they do not need cards to operate. They are in place to cater to the need of some crypto holders who want to quickly exchange some of their digital coins […] As Crypto ATMs Gain Popularity, Hackers Are Peddling Malware Targeting the Machines was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-8-9 16:00


‘Next Generation’ Crypto ATMs Set to Hit Europe This Year

Trilliant aiming to have 500 next generation cryptocurrency ATMs in operation by 2019 to cater to the growing need of consumers who wish to purchase cryptocurrency tokens. Disclosure: This is a Sponsored Article The increasingly prevalent cryptocurrency ecosystem has historically been devoid of one integral transactional facility – the ability to purchase cryptocurrency, such as […]

2018-6-22 16:30