Everyone has heard of Bitcoin and knows platforms to buy it from, but most people don’t know you can actually buy Bitcoin at Walmart.
Buying Bitcoin on exchanges like Kraken or Coinbase is the most popular way, but there are ways to purchase Bitcoin with the world’s biggest retailer.
But let’s be clear from the start: You can’t actually walk into a Walmart store and pick up some bitcoins like you can with televisions, blenders and other electrical goods.
To buy Bitcoin at Walmart you have to use one of Walmart’s financial tools to buy from what are known as peer-to-peer Bitcoin exchanges.
What Is A Peer-to-Peer Bitcoin Exchange?
Peer-to-peer Bitcoin exchanges are different to the main Bitcoin exchanges, as you don’t buy Bitcoin via an order book.
Peer-to-peer exchanges are like a meeting ground for buyers and sellers. They’re platforms that you find somebody who is willing to trade Bitcoin for the means of payment you wish to use.
Paxful and LocalBitcoins are the two biggest peer-to-peer Bitcoin exchanges. You will find on there people willing to accept pretty much any currency, gift cards, or whatever you can both agree to exchange.
Once you find a trader willing to accept, you both come to an agreement on the price and means of payment.
You then create an order and the amount of Bitcoin you’re wanting to buy will automatically be stored in an escrow.
You will then send payment to the marketplace platform and click confirm. Once you’re both satisfied the transaction has been met, the funds will be automatically released on both sides of the transaction, and you will walk away with your Bitcoin, and the seller will collect payment.
It’s important to note that on both peer-to-peer exchanges, only buy from sellers who have built up a good reputation and have made many sales.
Of course there will be scammers on there with new accounts. They will likely be offering fantastic deals, but don’t fall for it and buy Bitcoin only from those with a good reputation.
How To Buy Bitcoin at Walmart
First, you need to sign up with a peer-to-peer exchange. Once you’ve done this you can buy bitcoin with one of Walmart’s financial tools, such as the Walmart MoneyCard or Gift Card.
Buy Bitcoin With Walmart2Walmart Money Transfer
You can get hold of Bitcoin using the Walmart2Walmart money transfer. This system allows customers to transfer funds between more than 4,000 Walmart stores across America.
It’s a bit like Western Union or Moneygram, but much cheaper. To send funds with Walmart2Walmart it costs from $4.50. You simply send the amount you wish to send and give the receiver the transaction code, who will then pick up the funds at their side.
This can only be done with LocalBitcoins and not Paxful.
To do so, go to the LocalBitcoins website, choose the option for buying Bitcoin with Walmart2Walmart, as in the image above.
Find the deal that suits the amount you’re willing to pay. Some will try and ask for much more, but there are many realistic offers.
Once you find a good deal, click Buy.
You will then be directed to the seller’s page, where you select how much Bitcoin you want to buy, and then simply follow the payment instructions.
Once you’ve agreed terms, you then need to go to your local Walmart and transfer the money via Walmart2Walmart service.
You should take your photo ID, and you can use either cash or a debit card.
Once sent, and picked up the Bitcoin will be released from the escrow and deposited into your Bitcoin wallet.
Buy Bitcoin With Walmart Gift Cards
Walmart2Walmart money transfers are limited only to the US and Puerto Rico. However, if you want to send funds worldwide, or even just want to get rid of your Walmart Gift Card you can buy Bitcoin this way.
The Walmart Gift card is like any other gift card. It’s a pre-paid gift card that can be used in store. And the best thing is you can find sellers on Paxful who will accept your Walmart Gift Card for Bitcoin.
Be noted that LocalBitcoins is the only way to use Walmart2Walmart, and any other Walmart financial tool has to be used with Paxful.
It’s basically the same system as buying Bitcoin on LocalBitcoins. All you do is find a seller willing to accept one of Walmart’s Gift Cards or Debit Cards, and follow the instructions on screen.
Again, the Bitcoin will be held in the escrow, and when you send the funds they will also be held by Paxful.
When you have paid, click the button to let them know you’ve completed your side.
Then, when you’re both sure each other has completed your side of the transaction, you both confirm transaction. Once this os done the funds will be released and you will receive your Bitcoin and the seller will receive the details for the gift card or money from the debit card.
You will also be able to use Walmart’s MoneyCard (a pre-paid debit card) to buy Bitcoin on Paxful. It’s the same process as with the gift card, but when you’re looking for the payment method just pick your preferred option, as in the image below.
Buying Bitcoin Has Never Been More Accessible
You can buy Bitcoin from many places, from cryptocurrency exchanges to ATMs and you can now Walmart.
Thanks to platforms like LocalBitcoins and Paxful we can buy Bitcoin with Walmart financial tools, and many other ways.
It’s a sign of Bitcoin’s growing maturity and interest from mainstream, and is only the beginning. We will soon be buying Bitcoin in apps like PayPal and even on Amazon.
It won’t be long before you can walk into an actual store and buy Bitcoin at Walmart itself.
And who knows, Walmart might even start offering Bitcoin-back instead of cash-back for in-store purchases.
Author: Tommy Limpitlaw
Where is the best place to buy Bitcoin?
There are many great places to buy Bitcoin, and it all depends on your preference. You can buy on typical cryptocurrency exchanges, such as Kraken and Coinbase. Or you can buy from peer-to-peer Bitcoin marketplaces, such as Paxful and LocalBitcoins. You can also buy Bitcoin from Bitcoin ATMs. It all depends on your location and preference.
Can you buy less than 1 Bitcoin?
Yes. Every Bitcoin can broken down into 100 million bits. They are known as satoshis, after the pseudonymous creator Satoshi Nakamoto. And some companies will let you buy as little as $1 worth of Bitcoin, which at time of writing is worth about 11,000 satoshis.
How can I earn free Bitcoins?
Nothing is really free, because even when you earn free Bitcoins you’re giving up your time, which is precious. But you can earn free Bitcoins. If you are a gamer, there are games that allow you to win satoshis. Or there’s Carrot – a platform where you can earn free Bitcoin for doing tasks. Or you can save your Bitcoin in an interest bearing account and earn some BTC interest. Be careful with these, and only go with legitimate companies, though. I recommend Blockfi, you can read the review here.
Why should I buy Bitcoin?
Bitcoin is a peer-to-peer money that nobody can manipulate. It’s all set in the Bitcoin codebase which is secured by hundreds of thousands of computers all around the world. Bitcoins can be sent by anybody and no third party is need to verify the transactions, and nobody can stop Bitcoins being sent.