MoneyGram is teaming up with ATM provider Coinme to enable consumers to purchase Bitcoin from almost twice as many physical locations across the US as the company operates on its own.
The partnership, which was revealed on Wednesday, means MoneyGram’s locations will hit a total of 12,000 in May, but another 5,000 will be added in June.
MoneyGram’s bread and butter expertise is wire transfers, a technology that is for all intents and purposes dated when compared with the instant transactions supported by the blockchain.
The transactions backed by MoneyGram and Coinme in this new alliance will require some travel time but should ultimately be accessible to all.
A consumer will get a quote from the Coinme app and agree to a purchase while receiving a unique code that is then presented to a MoneyGram teller who can finalize the transaction.
On the one hand, the idea of making physical purchases for something that was born on the internet and was intended to be used solely as digital money is odd. However, the partnership may prove a convenient entry point for many people who are still unfamiliar with cryptocurrencies or want the feeling of safety they get when visiting banks in-person, as opposed to using mobile technology.
Coinme is upping its own offer because through its alliance with MoneyGram, consumers may now not only buy crypto, but also sell it back. Regardless of skepticism towards physical exchanges of crypto, the upshot should be a wider adoption of the blockchain asset.
Cryptocurrencies coming to physical locations is not new. Earlier this year, Coinflip announced that Dogecoin would be available at 1,800 ATM locations. Meanwhile, TRON made its subtle debut at 13,000 ATMs in South Korea.
If you are a stickler for the digital space, you may still purchase your currencies from a proper crypto exchange. If this is the case, you may also be interested in visiting some of the best crypto gaming websites, including Bitcasino, 1xBit and FortuneJack.