Coinstar now has bitcoin?

[rnmuscle]

If anyone is familiar with coinstar machines. When your poor like me, I save spare change in an old costco whey protein 10lb can. At these change counters they now have bitcoin just like an atm. I was hoping someone could see if it’s any less safe/ private / etc than others. It’s run by coinme.com, it appears you need a wallet from that particular site to get the bitcoin. From there it’s the same. Again, I am not a tech person. But, I noticed the whole transaction is 4% surcharge. I could not figure out if one can send directly to another wallet. It looks like you have to put In some personal info. I’m checking to see if someone can explain good or bad etc. It is super easy and more than half the surchargee. Thanks brothers and sisters.

 

[TG1]

Yeah I know about coinme machines. Its expensive but not too bad for an ATM. They make money not just by the transaction but price they offer the btc also. So you need to compare it. Ive checked and seen some crazy price differences located in the same cities. They do KYC reporting and for your account they need to verify your ID. They claim they don’t but after a couple hundred they lock it and ask for ID. Its about as safe as coinbase really. The money you put in goes straight to their wallet and you need to login and transfer it from there. Make sure to use 2 factor authentication if using their wallet online.

 

[Bigmurph6]

That’s huge for that company they have alot of machines everywhere. Im going to check the machine out next time I hit the store.

 

[Raphael3636]

I just set up an account with coinme, the fact that they use coinstar will really make it convenient for me. I’ll chime back in later this week and let everyone know how the transaction went. Lately I’ve been using Mycelium and the 13.5% charge everytime I wanna make a purchase is really taking a toll on my pocket.

 

[TG1]

using Mycelium and the 13.5% charge everytime I wanna make a purchase is really taking a toll on my pocket

What charge? Mycelium is a wallet not a payment processor or seller. If you used a third party that connects to app then you have those fees but that’s not mycelium’s platform. The have the local trader option in there too for android

 

[Raphael3636]

For using my debit/credit for BTC purchases, I’m sure that’s not the best way to approach buying BTC, but for me being very new to the process I found it to be easiest and straight forward. I’ve been using BTC now for about 4 months and am getting a little bit more educated on the process, so hopefully the BTC atm will save me a little money in the long run

 

[TG1]

That’s actually a third party company that handles it. Best rates will always be direct from an exchange.