LibertyX, based in Boston, has opened up Bitcoin purchases across 20,000 U.S. retail locations, marking what it calls the nation's largest network of Bitcoin ATMs. The company made the announcement on
LibertyX, based in Boston, has opened up Bitcoin purchases across 20,000 U.S. retail locations, marking what it calls the nation's largest network of Bitcoin ATMs. The company made the announcement on Monday, adding major chains to the network: 7-Eleven, CVS Pharmacy, and Rite Aid now let customers buy Bitcoin with cash.
LibertyX built this network over six years of steady work in the space. The company launched the first Bitcoin ATM in America back in 2014 and has since focused on weaving Bitcoin purchasing into existing ATM and cashier infrastructure across the country.
"LibertyX is the fastest way to buy Bitcoin for a wallet you control," said Kyle Powers, the company's co-founder and chairman.
Chris Yim, who co-founded LibertyX and serves as CEO, presented the expansion as a solution to adoption barriers. "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," he said.
Using LibertyX is simple. Customers sign up for a free account through the app and provide their wallet address. When they find a participating retailer, they scan a barcode via the app, pay with cash, and the Bitcoin lands in their LibertyX account. A click on "Convert to Bitcoin" moves it to their personal wallet.
"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," Yim said.
The LibertyX network includes 20,000 cash-accepting locations and 5,000 debit-accepting ATMs. Customers can purchase between $20 and $500 per transaction, with a service fee of $4.95 charged on each purchase.
For Yim, Bitcoin's value lies in its openness. "At its core, Bitcoin is a global and inclusive technology. Anyone with a mobile phone and an internet connection can store, send, receive and transact value with Bitcoin. To that end, LibertyX is proud to offer 20,000 cash-accepting retail locations and 5,000 debit-accepting ATMs across its network. No matter your payment preference, you can conveniently purchase bitcoin from a trusted local store," he explained.
Customers can find the complete list of participating retailers on the company's app and website.
