Bitcoin ATM operator LibertyX now offers bitcoin purchases at the United States’ most popular convenience and drug stores.
Per a PR Newswire released on Jun 22, the company has finished rolling out the buying option which will be available in “20,000 retail locations around the U.S., including major convenience store and pharmacy chains, such as 7-Eleven, CVS Pharmacy®, and Rite Aid.”
This service will give LibertyX users the option to purchase bitcoin with cash at any of the participating retailers’ cashier counters. These 20,000 new buying centers add to the 5,000 Bitcoin ATMs that the company has established across the United States since it launched in 2014.
“Bitcoin is one of the most exciting innovations over the last decade, but adoption has been limited by trust and accessibility. We wanted to expand our footprint so anyone can buy bitcoin at familiar locations they drive or walk by daily,” Chris Yim, co-founder & CEO of LibertyX, said in the press release. “Now, everyone is only a few miles away from owning bitcoin and becoming part of its global community. Buying bitcoin is as easy as scanning a barcode while shopping for groceries.”
To use the feature, LibertyX customers need to download the free app, enter a Bitcoin address for deposits, find a participating retailer near them and select “Add cash now,” and go to the retailer to pay in cash for the amount they want to add. From here, the cashier will then scan a barcode on the app to credit its owner’s account with the amount purchased, and then they can finally convert this credited balance to bitcoin on the app and have it deposited into their Bitcoin wallet.
The service requires a phone number for verification and includes a $4.95 retailer service fee. In light of the launch, LibertyX will be waiving conversion fees at “select retailers” until the end of July. The company has not announced what the conversion fee will be when the promotion ends.
An earlier draft of this article said that LibertyX’s conversion fees for this service would be 8% after July 4th. The article has been updated to correct this error, as LibertyX has not announced the conversion fee for this service yet.