JAKARTA – Kwik Trip is a department store headquartered in Wisconsin. Recently Kwik Trip formed a partnership with crypto company Coinsource to provide as many as 800 Bitcoin ATMs.
The Bitcoin ATMs will be installed in Wisconsin, Minnesota, Iowa, and Illinois, USA. The company announced that Bitcoin ATMs will be in locations that are easily accessible to many people.
Reporting from U.Today, the company will charge its customers a hefty fee of 11 percent. This is because Bitcoin ATMs usually charge much higher fees than regular cryptocurrency exchanges.
However, Bitcoin ATMs have become popular with the crypto community looking to cash out from crypto. This is because they do not need to go through the Know Your Customer (KYC) process as is usually done on crypto exchanges.
Users will remain anonymous aka their personal data is not known. On the other hand, this is said to be the main weakness of crypto ATM machines because it is considered to be able to attract bad actors who do money laundering.
Dave Wagner of Kwik Trip stated that ATM operators comply with the rules in the crypto industry. For your information, Kwik Trip was founded in 1965. Then in 1993, the department store expanded to Iowa.
The owners of Kwik Trip are the Zietlow family. Kwik Trip's rapid development occurred in 2022, where the company succeeded in expanding its branches in 800 locations.
Kwik Trip is not the only one to install Bitcoin ATMs, previously the US retail giant Walmart has also quietly installed 200 Bitcoin ATMs.
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