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Buying Bitcoin atWalmart in2024 iseasy. Select aBitcoin wallet. Choose aP2P exchange. Bring required documents. Submit details. That’sit! Inthis article wedive into astep bystep with all the details.
Drew
Jun 13, 2024June 13, 20248 min read8 minutes read
In this article
- Step 4: Submit transaction details
- Final Thoughts
Forget complicated online exchanges; today, we’re talking about asimple, tangible way tobuy some Bitcoin atWalmart. Whether you’re aBitcoin beginner orjust prefer the tangibility ofcash transactions, this guide istailored for you.
TL; DR: Short ontime, here’s the must know 4 steps tobuy Bitcoin with cash atWalmart…
Let’s start out bytalking about your Bitcoinwallet. The best way tothink ofitasanon-physical wallet for your Bitcoin— like your email isyour non-physicalmailbox.
Step 1: Select & configure aBitcoin wallet
Part ofthe reason why Bitcoin issocool and for everyone isbecause itchanges how wethink about and interact with money.
The Bitcoin network isdecentralized, meaning itcuts out banks, money transmitters like Western Union, and other middlemen, making transactions directly peer-to-peer.
Your Bitcoin wallet iskey tothis wholeprocess. It’s not just for buying, selling, orkeeping your Bitcoin; it’s actually asoftware program that holds your public and private keys, which are essential for your transactions.
Bitcoin wallet keys work alot like your emailaccount. Think ofitlike this:
Private keys = email password
Public addresses = email address (your Bitcoin wallet receive address)
Each private keyisyour super-secret codeopens the door tonot just one but billions ofpublic addresses (these are your potential email addresses)for sending and receiving Bitcoin.
It’s like having amaster key toanincredibly vast network ofdigitalmailboxes!
Imagine these asthe codes toyour own personal sovereign digital Swiss bankaccount. They’re what keep your Bitcoin secure and under your control.
There are several types ofwallets outthere. Let’s take aquick look ateach!
Hardware Bitcoin wallets
What: Users store private keys onapurpose-built piece ofhardware.
Pros: Private keys never touch the internet, which reduces the risk oflosingthem. Suitable for long-termstorage. Ifyou lose your hardware wallet, you can use the backup seed phrase torestore your wallet.
Cons: Users must secure aseed phrase backup, which requires athoughtful strategy toprotectit. It’s recommended towrite down your seed phrase onmetal and store backups inmultiplelocations.
Note: Protecting seed phrase backups isstandard practice for wallets where the user controls the private keys.
Ifyour hardware wallet isstolen, your funds are atrisk ofbeing hacked.
Examples: Blockstream Jade, Coldcard, and BitBox
Mobile Bitcoin wallets
What: Users store private keys onamobile device.
Pros: Simple touse, suitable for beginners, works for small amounts, convenient for spending even though most people rarely spend their Bitcoin right now (too much upside toholding for the long term)!
Cons: Least secure option asprivate keys are onadevice connected totheinternet. Ifanattacker gains physical access toyour phone, funds can besent totheir ownwallets. Not suitable for long-term storage.
Example: Muun
Desktop Bitcoin wallets
What: Users store private keys ontheir desktopcomputer.
Pros: Good UX, Convenient for spending even though most people rarely spend their Bitcoin right now.
Cons: Not very secure ascomputers are connected tothe internet and vulnerable toattacks. Not suitable for long-term storage.
Examples: Bitcoin Core and Electrum (advanced), Specter (intermediate), Blockstream Green (beginner)
Multi-sig Bitcoin wallets
What: User stores private keys inaunique wallet that requires multiple private keys tosign before your funds can bemoved. For example, ina“2‑of‑3” multi-sig wallet, auser needs two out ofthree private keys tosendfunds.
Pros: One ofthe most secure ways tostore your Bitcoin, reduces the effectiveness ofphysical attacks and issuitable for long-term storage.
Cons: Hard toset uponyour own, but several services exist tomake iteasier. Not convenient for spending, but that’s the point.
Examples: Swan Vault, Unchained Capital’s Vault (2‑of‑3), Specter (DIY), Electrum (DIY)
Paper Bitcoin wallets
What: This isamethod where your Bitcoin private keys are printed onaphysical medium, such aspaper. It’s aform ofcold storage, meaning it’s keptoffline.
Pros: High level ofsecurity due tobeing offline, reducing the risk ofonline hacking and cyberthefts. Ideal for long-term investments asit’s not susceptible toelectronic damage orfailures.
Cons: Vulnerable tophysical damage like fire, water, orgettinglost. Requires careful handling andstorage. Also, itisnot convenient for frequent transactions ortrading, asitnecessitates the transfer ofdata from paper toadigital device for every transaction.
Examples: Generating keys using open-source software like Bitaddress, storing them inaphysically secure location, using atamper-evident sealed envelope.
Learn more about the best Bitcoin wallets in2024, here.
Step 2: Choose aP2P exchange & verify details
Before visiting Walmart, ensure you’re getting the bestvalue. Take aminute tocheck what the optimal times for purchasing Bitcoin are tosecure afavorablerate.
Tobuy Bitcoin with cash atWalmart, you have two options besides using aWalmart gift card:
Coinstar Kiosks
Allows customers touse cash topurchase Bitcoin atselect Coinstar kiosks inside more than 200 Walmart locations across the United States.
Walmart2Walmart Money Transfers
You can also useWalmart2Walmart money transferstobuy Bitcoin.
Remember though, each purchase incurs atransaction fee of4% and acash exchange fee of7-11%.
Pro Tip: Look for aseller who isopen tousing money transfer services, specifically Walmart2Walmarttransfers. Like MoneyGram orTransferWise, this service allows sending money between Walmart locations.
Finding aBitcoin seller who isagreeable totransact via Walmart will help you avoid extra steps andfees. Explore multiple P2P exchanges tofind one that aligns best with your requirements.
Once you find aseller:
Head tothe Walmart Money Center orcustomer service counter
Provide the cashier with the details from your P2P exchange
Pay the cashier incash
That’s it!
Remember: You’ll need tokeep the receipt and send the transaction details toyour Bitcoin seller for verification.The seller will then beable tocollect the cash from their chosen Walmart location.
The fee applied isbased onthe amount transferred. The fee percentages for each transfer range are asfollows:
Transfers upto$50 (with a$4 fee): 8%
Transfers between $50 and $1,000:
Atthe minimum amount of$50 (with an$8 fee): 16%
Atthe maximum amount of$1,000 (with an$8 fee): 0.8%
Transfers between $1,000 and $2,500:
Atthe minimum amount of$1,000 (with a$16 fee): 1.6%
The maximum amount of$2,500 (with a$16 fee): 0.64%
Finally, your P2P exchange will provide all the essential details for the Walmart transaction. Make note them down ortake aphoto for easy reference when you visitWalmart.
Step 3: Bring correct documentation toWalmart& find the teller
Alright, now it’s time tovisitWalmart. Besure tobring along the details gathered from the previous step.
Head toeither the Walmart Money Center orthe customer servicedesk. They are typically located near the store’sentrance.
Upon arrival, present the teller with the information from your P2P exchange. Then, pay the cashier and make sure tokeep the receipt for the followingsteps.
You must also have avalid, unexpired, government-issued photoID. Acceptable forms ofidentification include:
U.S. Passport
International Passport
U.S. Permanent Resident Card
U.S. Driver’s License (including Puerto Rico)
State ID(including Puerto Rico)
Military ID
Tribal ID
Mexican Matricula Consular
Pro Tip: You might find ithelpful toknow that Walmart2Walmart money transfers can also bemade toand from PuertoRico. This isbeneficial ifyour Bitcoin seller islocated ineither the U.S. orPuerto Rico.
Step 4: Submit transaction details
There are only three simple steps tosubmit your transaction details:
Provide transaction information.
Confirm your transaction with the BTC seller.
Share the information onyour receipt todemonstrate you’ve fulfilled your part ofthe deal with the seller.
The seller will then beable tocollect the funds from your Bitcoin exchange attheir preferred Walmart location.This process can becompleted swiftly, often within just 10 minutes orone Bitcoin block confirmation.
For added convenience, you can monitor the progress ofthe transfer through Walmart’s 'Track aTransfer' feature.Simply enter your last name and the reference number from your receipt touse this service, which isavailable onWalmart’s officialwebsite.
Final Thoughts
While buying Bitcoin with cash atWalmart might seem like ahandy option for those spur-of-the-moment sat-stacking cravings, let’s face it; i’s not always the smoothestride. Between the hustle ofstore aisles and the nuances ofthe purchasingprocess…
Why juggle cash, vouchers, online P2P exchanges orstand inline atWalmart— when you can buy Bitcoin effortlessly from the comfort ofyour own phone orcomputer onthe Swan App?
With Swan, you get auser-friendly platform, with industry best customer support that makes buying Bitcoin aseasy asswiping onyour favorite app.
Ifyou’re looking for away toinclude Bitcoin inyour retirement portfolio, check out Swan IRA.
Sign up for aSwan account today!
For more information, please visitswan.com.
Swan IRA— Real Bitcoin, NoTaxes*
Hold your IRA with the most trusted name inBitcoin.
Drew, aclass of2013 Bitcoiner, isaResearch Analyst for Swan Bitcoin.
Hehas worked ininstitutional VC/PE, FinTech, and DLT consulting for over six years. Healso brings over twelve years ofexperience working with national nonprofits and start-ups ineducation and software development inseveral leadership roles.
In this article
- Step 4: Submit transaction details
- Final Thoughts
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