LibertyX, The company that launched one of the first Bitcoin ATMs has just made it possible to buy Bitcoin in cash at more than 20,000 points of sale in the United States.
In one Announcement of June 22nd On the LibertyX Twitter account, the cryptocurrency ATM company said customers could buy cash from retailers like 7-Eleven, CVS Pharmacy and Rite Aid (BTC) in cash.
Users must have the LibertyX Mobile app installed, pre-select the location of the retailer they want to visit, and scan their barcodes at the time of purchase. According to LibertyX, cryptocurrency holders can buy between $ 20 and $ 500 (up to 0.052 BTC) at the time of printing. Transactions are processed within minutes for a small fee.
In a press release shared with Cointelegraph, LibertyX co-founder and CEO, Chris Yim, said the company has expanded cryptocurrency purchasing so customers can buy BTC at known locations:
“Now everyone is just a few miles away from owning Bitcoin and becoming part of their global community. Buying Bitcoin is as easy as scanning a barcode while shopping for food.”
Early reactions from the crypto community
Cryptocurrency traders have already started to take advantage of the new offering. Reddit users notyourcoins would have received $ 99.58 for a $ 104.95 BTC purchase from 7-Eleven on June 22 – $ 100 for the cryptocurrency and $ 4.95 for the merchant fee.
Another user, Oracle_of_Knowledge, performed the transaction calculations:
“0.01040236 BTC for $ 100. So $ 9613.20 per BTC was the price you paid. June 22nd at 9:38 am WST, so the price was on the Coinbase Pro exchange at that time comparatively between $ 9551 and $ 9570, so it’s not even that bad that you only paid about 0.5% above the spot price. In addition to the $ 5 flat fee at the ATM. Surprisingly not bad. “”