Chicago-based cryptocurrency provider DigitalMint has announced a partnership with multinational convenience store Circle K to install Bitcoin ATMs in 20 participating stores.
The bitcoin kiosks will be added to locations in Arizona and Nevada as part of an exclusive pilot program that allows consumers to purchase bitcoin directly through DigitalMint’s physical kiosks.
“Partnering with Circle K, a global leader in the convenience store space, further fuels DigitalMint’s mission to empower consumers who are underserved by the limitations of the currenct financial system,” Eric Pitt, the director of marketing at DigitalMint, told Bitcoin Magazine.
DigitalMint currently operates physical kiosks and teller windows in 250 locations across 25 states. This partnership is the largest expansion for the company to date, allowing it to become the largest bitcoin ATM and point-of-sale operator in the U.S. since its launch in 2014.
“We are very happy to add DigitalMint as a partner and we look forward to working with their team,” said Circle K Stores category manager Joel Konicke. “Partnering with DigitalMint allows us to provide our customers with seamless access to Bitcoin, at a very reasonable price.”
Because DigitalMint does not accept credit and debit cards, all purchases must be made with cash. Purchases can also be made via bank wire with a $5,000 minimum and transaction limits above $1 million for approved customers.
Even cash purchases, however, cannot be made anonymously. DigitalMint adheres to fairly strict know-your-customer (KYC) policies.
“We require every prospective customer to provide a U.S. government–issued ID, such as a valid driver’s license or state ID,” Pitt said. “DigitalMint undergoes annual independent reviews, conducted by reputable third-party industry leaders … Additionally, our proprietary compliance software and tools have set us apart for cryptocurrency money services businesses to operate in good standing with federal and state regulatory authorities.”Consumers are able to purchase up to $20,000 worth of bitcoin, ether and litecoin per day, with a maximum of $2,500 per transaction. The company also charges a flat rate of 12 percent on each transaction. According to the company’s website, however, rate reductions are available.
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