LibertyX allows crypto enthusiasts to buy BTC using cash

Fibo Quantum

  • LibertyX’s CEO Chris Yim noted that this move aims to simplify the process of buying BTC.
  • Among the convenience stores that house cash-accepting LibertyX ATMs is 7-Eleven.
  • To help attract users to this new service, the firm waived conversion fees until July 31, 2020.

LibertyX, the first and largest network of Bitcoin ATMs in the US has expanded its services. The firm is now allowing crypto lovers to purchase BTC using cash at 20,000 retail locations in the US. These locations include convenience stores and pharmacy chains such as 7-Eleven, CVS Pharmacy, and Rite Aid among others. A press release on June 22 unveiled this news, noting that crypto adopters seeking to utilize this service can find the full list of participating retailers using the LibertyX store locater. Alternatively, they can download the LibertyX App, which is available in Android and iOS versions.

Commenting on this bullish move, Chris Yim, the co-founder, and CEO of LibertyX said,

“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. 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 added that,

“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.”

Six years of simplifying BTC purchases

Per the press release, LibertyX rolled out America’s first Bitcoin ATM in 2014. Four years after this launch, the firm announced that it had successfully integrated its services into a traditional ATM. This move helped simplify the purchase of BTC. Today, most Americans are just minutes away from an ATM or cashier that sells BTC through LibertyX. Per Kyle Powers, the co-founder, and chairman of LibertyX, LibertyX offers crypto adopters the easiest way to purchase BTC for an account they own.

In a bid to celebrate the nationwide launch of Bitcoin on Every Block, LibertyX noted that it would waive conversion fees from select retailers. This promotion will run until July 31, 2020.

Explaining how to buy BTC via LibertyX, the announcement noted that users should,

  • Download LibertyX app and sign up for a free account
  • Enter your bitcoin address and tap “Start purchase”
  • Select a participating retailer and tap “Add cash now”
  • Cashier scans barcode at retailer
  • Pay between $20 and $500; account is credited within 10 minutes ($4.95 retailer service fee)
  • Tap “Convert to bitcoin” button in LibertyX app

Do you think LibertyX’s decision to let crypto adopters purchase BTC using cash will help boost BTC adoption? Share your thoughts in the comment section below.