Bitcoin might not be the red hot commodity it was a year ago, but it’s taking its biggest step yet toward the mainstream world.
Coinstar, whose machines are found in supermarkets across the country and help people get rid of their spare change, has announced plans to let people convert cash into Bitcoin.
“Coinstar is always looking for new ways to offer value to our consumers when they visit our kiosks, and Coinme’s innovative delivery mechanism along with Coinstar’s flexible platform makes it possible for consumers to easily purchase Bitcoin with cash,” said Jim Gaherity, Coinstar CEO, in a statement.
Don’t count on using spare quarters, dimes and pennies in this case, though. Bitcoin via Coinstar can only be purchased with paper money (as much as $2,500). Investors will go to one of the company’s participating machines and select the “Buy Bitcoin” option on the screen, entering their phone number.
After inserting however much they want to spend, they’ll receive a voucher with a redemption code, which they can enter on a Coinstar operated Website.
Coinstar has 20,000 machines around the world and has become the de facto place for people to get rid of their jugs of spare change. It’s not clear right now how many of those will sell Bitcoin, however.
Bitcoin could use the boost. After seeing prices crash most of last year, the cryptocurrency is currently selling for about $3,600, well off of its December 2017 highs of $19,783. Supporters are hoping for a rebound this year.