There are a lot of ways that you can buy Bitcoins. And like just about everything there is, you can buy them at Walmart. In this short post I’m going to be going over the process of how you can buy Bitcoins at Walmart and how it all works.
You don’t need a bank account or anything to do this, just cash.
If you have never bought or sold Bitcoins before this might get a bit confusing, but I will try my best to explain it as simply as possible. Once you understand how it all works it is pretty simple. So before I get into how you actually buy BTC at Walmart its first important for me to go over the buying/selling process.
Buying & Selling Bitcoins
In order to buy or sell Bitcoins you are first going to need a Bitcoin Wallet. This is just a virtual wallet that acts like a bank account for Bitcoins.
I you have a wallet you can buy Bitcoins and sell them as you want. There are 3 main ways to buy and sell Bitcoin and they include: direct trades, exchange trades, and peer to peer trading marketplaces.
The way in which you can buy BTC at Walmart is through the Peer to Peer Marketplace method, so that is what I am going to be going over briefly.
Peer to Peer Marketplace
A peer to peer marketplace for Bitcoins is an online marketplace that matches buyers with sellers.
People that are looking to sell bitcoins can sell them any way that they want to. They can choose to sell them online for gift cards, paypal cash, direct deposit, etc.
What they will then do is list their Bitcoins for sale and outline how they want to be paid. Then buyers can find these sellers and pay them through the online marketplace.
Going To Walmart To Buy Bitcoins
When I say you can buy BTC at Walmart I might be saying it in a different way than you think. Walmart does not actually sell BTC and its not like you can go there to buy them directly.
But what Walmart does do is facilitate money transactions and through these transactions you can buy BTC. The transactions that I am talking about are Walmart2Walmart money transfers.
Walmart2Walmart Money Transfers
Through these transfers you can deposit cash to the teller at Walmart (usually at their customer service area) and have it transferred over to a BTC seller.
These transfers can be made by anyone and at any Walmart as far as I am aware.
As I mentioned earlier, Bitcoin sellers can choose how they want to get paid. And some sellers like to get paid via Walmart2Walmart money transfers. So although Walmart is not actually selling the Bitcoins, you can go to Walmart and buy Bitcoins and I’ll go over how step by step.
Note: Walmart does charge a small fee for sending money this way, but its much less than Western Union and other similar services. They charge as follows…
- $4 fee for a $0-$50 transfer
- $8 fee for a $50-$1,000 transfer
- $16 fee for a $1,000-$2,500 transfer
How to Do This Step By Step
1) Get a Bitcoin Wallet
Most Bitcoin wallet providers have mobile apps you can download to keep your wallet around at all times.
2) Join a Bitcoin Marketplace
This is the peer to peer marketplace stuff I was talking about where buyers can find sellers and vice versa.
My suggestion is Paxful, which also provides Bitcoin wallets. So you might just want to use their wallet since I am suggesting using their service.
Paxful has over 300 categories in which you can buy bitcoins from sellers. You can buy BTC withonline transfers, debit/credit cards, gift cards, and what we are interested in is cash deposits, which is the category that Walmart2Walmart transfers falls under.
3) Find a Seller
If you are using Paxful, finding a seller is simple. You will first click on Buy Bitcoin, then you will click to view all payment methods for cash deposits. Then you will see a list of payment options on the left hand side of the page in which you will see Walmart2Walmart listed.
When you click on that you will see a list of sellers that are selling via Walmart2Walmart transfer. You can choose any that you like. Some people have different rules as to how much BTC they are selling and so forth.
4) Transfer the Money
Your next step is to go to Walmart, deposit the cash, and have the money transferred to the seller’s Walmart. All the information you need as far as where to transfer the money will be listed on Paxful.
5) Collect Your BTC
After transferring the money the seller will release the BTC to you within 3 hours, and sometimes within less time like 10 minutes or so. This depends on the seller you buy from.
But first you will have to verify the transaction by uploading the receipt you got from the teller at Walmart.
Recap On How This All Works
Ok, so let me summarize how this all works.
There are hundreds of ways that you can buy Bitcoin and this is because people selling Bitcoin can choose any way they want to get paid. And one of these preferred methods of payment is Walmart2Walmart money transfer.
So you buy Bitcoin through Walmart via their Walmart2Walmart money transfer service. All you have to do is follow the steps listed above.
A Much Easier Way – This is What I Recommend
You can buy bitcoins at Walmart as I went over above but it gets complicated and is time consuming. If you are looking for an easier way to buy Bitcoin then I suggest taking a look at Coinbase. You can buy bitcoin instantly here with your credit/debit card. Its very simple.
You can read my full Coinbase review here.
Comments, questions, concerns? I know this whole process can be very confusing at first so just leave a comment below and I will get back to you soon…