The number of locations within the U.S. where you can buy Bitcoin with cash is set to increase by the thousands courtesy of the cryptocurrency startup company, LibertyX.
People will soon be able to buy Bitcoin with cash at 20,000 locations across the country, specifically 7-Eleven, Rite Aid, and CVS retail shops.
This is followed by the user selecting one of the nearby vendors listed on the app and choosing the “add cash now” option. The user then goes to the store they had previously selected, where the cashier will scan the LibertyX barcode.
The buyer then pays the miner fee and retailer service fee, which is followed by selecting the “convert to Bitcoin” option on the app.
Working to become an everyday occurrence
One obstacle to mainstream cryptocurrency adoption is not using it in everyday situations. However, more and more businesses are now allowing people the option to pay in cryptocurrencies.
This program by LibertyX aims to help increase crypto adoption by allowing people to buy Bitcoin at places they shop in on a daily basis. Plus, the 20,000 locations puts such buying opportunities close at hand for the vast majority of the American public.
Who doesn’t know of a handful of 7-Eleven, Rite Aid, or CVS shops within a few miles of their home?
LibertyX CEO Chris Yim says, “Now, everyone is only a few miles away from owning Bitcoin and becoming part of its global community.”
There is a caveat to this buying experience. Users will have to provide all of the KYC details required, such as a photo, address, name, and so on, before they can begin buying BTC.
This Bitcoin buying expansion should help propel cryptocurrency acceptance to greater heights. The United States currently is the number one country in the world in regards to the number of crypto ATMs available. According to Coin ATM Radar, the USA has 6,303 such ATMs. Orlando boasts 123 Bitcoin ATMs while Dallas has 224 and Los Angeles has a whopping 586 machines.
LibertyX operated 5,000 Bitcoin ATMs in the United States and was the first company to launch a cash-to-BTC ATM in the country back in 2014.