Moneygram Lets Customers Buy and Sell Bitcoin With Cash at 12,000 Locations

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Bitcoin has been all over the news lately, for good and bad reasons. It’s still an experimental currency, but growing in popularity. Yet, for those who want to use it as an actual currency, it can be a bit tricky. Luckily, one company aims to make this a bit easier. Moneygram, the company that buys and sells money transfers between countries, has announced that it will be allowing its customers to buy and sell bitcoin as well.

To the delight of Bitcoin enthusiasts everywhere, money transfer service Moneygram has announced the launch of a pilot program that will see the company accept cash for the purchase of bitcoin. We’ve all heard about the meteoric rise of Bitcoin’s value over the last few years, but it’s not so easy to turn that digital currency into cold, hard cash. This makes the Moneygram pilot program one of the first ways for everyday people to turn their crypto into real dollars. If you’re not familiar with Moneygram, it’s essentially a way to send money overseas without a bank. You have to go to a local location, hand them money, and they’ll send the equivalent amount overseas.

Thanks to the partnership with Coinme, Moneygram customers can now buy and sell bitcoins at 12,000 locations. The partnership will bring bitcoin to thousands of new outlets in the U.S., with plans to expand into select international markets in the second half of 2021, the companies said.

Bitcoin in Moneygram

Moneygram International Inc. and Coinme, a U.S.-licensed crypto-currency exchange, announced Wednesday the launch of a new partnership that will enable funding and cash payments when buying and selling digital currencies.

As the world leader in cross-border P2P payments and money transfers, Moneygram has served approximately 150 million people worldwide over the past five years. Coinme is a cryptocurrency exchange and ATM operator that currently uses over 20,000 physical locations to buy and sell bitcoin cash through partnerships with Coinstar and Moneygram.

The partnership will bring Bitcoin to thousands of new outlets in the U.S., with expansion to select international markets planned for the second half of 2021, the companies said. The new service will create global currency inputs and outputs to enable access to bitcoin.

According to the screen:

The integration of Moneygram and Coinme will provide customers with a quick and easy way to buy bitcoin in cash and withdraw bitcoin funds in cash.

The service will initially be available at select Moneygram stores in the United States in the coming weeks. However, the companies plan to add more countries and cryptocurrencies in the near future. According to Coinme’s website, the service is available at 12,000 Moneygram branches.

Buying and selling bitcoins can be done at 12,000 Moneygram outlets. Source: Mint

Moneygram Lets Customers Buy and Sell Bitcoin With Cash at 12,000 Locations

The companies emphasized that the new service is specifically designed for customers who may be looking to use Bitcoin for the first time.

Alex Holmes, CEO of Moneygram, said:

This innovative partnership gives our company access to a whole new segment of customers, as we pioneer cryptocurrencies with Coinme by bridging the gap between bitcoin and local fiat currencies.

What do you think of the new bitcoin service Moneygram? Let us know your comments in the section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

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