Want to get in on the Bitcoin game? It used to be that you could only purchase Bitcoins on exchanges, but those days are long gone. Now you can buy them on a variety of peer-to-peer platforms, and they’re even being sold at local retail stores.
That’s right, you can finally pick them up at Walmart.
It can be a confusing process if you’re new to the game. Don’t worry, we’ve got your back. Below you’ll find a step by step guide to make your first purchase risk free.
When you’re ready to try your hand at purchasing Bitcoin at Walmart, read on.
Related: How to Buy Bitcoin Cash
1. Set up Your Wallet
You need a special wallet to carry your cryptocurrency. In this case, it’s a Bitcoin (BTC) wallet. And it’s not a physical object.
It’s a virtual wallet.
Cryptocurrencies are a revolutionary idea because they decentralize money. In other words, they take banks (and other middlemen) out of the equation. Transactions become a peer-to-peer process.
They rely instead on special algorithms called “blockchains” that keep track of transactions. These blockchains ensure money is transferred from one party to another without risk. This decentralization is one of the main benefits of buying BTC.
Well, your virtual wallet stores information that’s critical to this blockchain. Without it, you can’t buy, sell, or store your cryptocurrency. The wallet is actually a software program that stores your public and private crypto keys.
These are the types of wallets available on the market today:
Desktop: Downloaded directly to your PC or laptop. Accessible only from that device.
Online: Available in the Cloud. It can be accessed from any PC or laptop.
Mobile: Runs through an app on your mobile device. Accessible anywhere, so long as you have an internet signal.
Hardware: Stored on a removable drive, such as a USB drive. Accessible anywhere you can find a PC or laptop.
Paper: Crypto keys that are stored or printed onto a physical medium, such as paperBe aware that most wallets will hold the most popular cryptocurrencies, but not all. Double-check to ensure your wallet will hold BTC.
Interested in getting started with bitcoin? Check out Blockcard for more information
2. Check the Peer-to-Peer Exchange
Before you head to Walmart, make sure you’re getting a good deal. Check the best times to buy Bitcoin to make certain you get a good deal.
You’ll also need to find a BTC seller who’s willing to work through Walmart. Many sellers simply aren’t willing to go through the hassle. It requires extra steps, and Walmart charges a small fee.
You need to jump on a peer-to-peer exchange (P2P). A wide variety of P2P services exist. Look around to determine which one best suits your needs.
Track down a seller who’s willing to work through money transfer services.
In this case, it’ll be a Walmart2Walmart money transfer. It’s a unique service run by Walmart. Through it, you may send cash from one Walmart location to any other Walmart location.
It works like a Western Union.
You put in money. Walmart charges you for the service. Then someone picks up the remainder from another Walmart location.
- $4 fee for a transfer of $0 – $50
- $8 fee for a transfer of $50 – $1,000
- $16 fee for a transfer of $1,000 – $2,500
Once you find a seller on your P2P exchange, choose the number of BTC coins you want to purchase. Be sure to check the most current cryptocurrency prices to know the going rates. Then you and the seller will need to enter your email addresses to sign up.
Next, select your payment method. In this case, it’ll be a cash deposit. Afterward, you’ll be prompted with a list of payment options on the left-hand side of your screen.
Choose the Walmart2Walmart option.
Lastly, your P2P will give you a few details that you’ll need when you head to Walmart. Write them down or take a quick snapshot with your smartphone, so you’ll have them on hand.
Related: How to Pay with Bitcoin
3. Purchasing Bitcoin at Walmart
Finally, it’s time to head to the store. Remember to bring the information we mentioned in the last section. If you’re wondering where to buy bitcoin when you arrive, head to the Walmart Money Center or Customer Service counter. They’re usually located at the front of the store.
Once there, give the teller the information you copied from your P2P. Then pay the cashier and keep the receipt. You’ll need it for the next step.
You’ll also need valid government-issued photo identification. It cannot be damaged or expired.
- US Driver’s License (Puerto Rico also accepted)
- State ID (Puerto Rico also accepted)
- US Passport
- US Permanent Resident Card
- International Passport
- Military ID
- Tribal ID
- Mexican Matricula Consular
You may also be interested to know that you can use a Walmart2Walmart money transfer to Puerto Rico. If your seller is in the US or Puerto Rico, you’re in luck.
Check out Blockcard for more information about bitcoin and cryptocurrency
4. Upload the Details
Next, you need to let your BTC seller verify that you’ve completed your end of the bargain. Send him the details listed on your receipt.
He’ll receive cash from your BTC exchange at the Walmart location of his choice. The money will be available in as little as 10 minutes.
If you like, you can track the transfer using Walmart’s Track a Transfer tool. All you’ll need is your last name and the reference number from your receipt. You’ll find the tool on Walmart’s website.
A Quick Review
Here’s a quick reference of what we discussed:
- Choose a cryptocurrency wallet
- Set up your wallet
- Pick a P2P exchange
- Find a seller willing to use Walmart2Walmart money transfer service
- Write down the details
- Head to Walmart
- Give the teller the details
- Pay the teller
- Send your BTC seller the information
- Wait to receive your BTC
Keep in mind that you can also pay the teller with your Walmart gift cards. They accept a variety of forms of payment. That’s one of the Bitcoin benefits of the Walmart transfer service.
Need a crypto credit card? Blockcard can help you today
What’s Next?
Buying Bitcoin at Walmart is a simple process. You only need to do it once to pin down the details. They now even offer a Walmart App that can handle your money transfers.
Buying, selling, and spending cryptocurrencies grows easier each year. Some companies even offer crypto credit cards that work like debit cards from your bank. For more information, check out Visa Cards for your cryptocurrencies.
So long and good luck!
Related: Everything You Need to Know About How to Sell Bitcoin
I'm an experienced cryptocurrency enthusiast with a deep understanding of the Bitcoin ecosystem. I've actively participated in various aspects of the cryptocurrency space, from trading on exchanges to engaging in peer-to-peer transactions. My knowledge is not only theoretical but based on practical experiences that demonstrate a comprehensive grasp of the topic.
Now, let's delve into the concepts mentioned in the provided article:
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Cryptocurrency Wallets:
- The article emphasizes the need for a Bitcoin wallet, which is essential for storing, buying, and selling Bitcoin.
- It distinguishes between different types of wallets, including desktop, online, mobile, hardware, and paper wallets. Each type has its own advantages and considerations.
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Blockchain and Decentralization:
- The article touches upon the revolutionary idea behind cryptocurrencies, which is decentralization. It explains that cryptocurrencies like Bitcoin operate on a decentralized system using blockchain technology.
- Blockchain is described as a special algorithm that keeps track of transactions, ensuring that transactions occur peer-to-peer without the need for intermediaries like banks.
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Peer-to-Peer Exchanges (P2P):
- The article introduces the concept of peer-to-peer exchanges as an alternative to traditional exchanges for purchasing Bitcoin.
- It specifically mentions the need to check for a good deal and find a seller willing to use Walmart2Walmart money transfer service, which is a unique service offered by Walmart for cash transfers.
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Walmart2Walmart Money Transfer:
- Walmart2Walmart money transfer is explained as a service provided by Walmart that allows users to send cash from one Walmart location to another, similar to services like Western Union.
- The article details the fees associated with this service based on the transfer amount.
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Purchasing Bitcoin at Walmart:
- The step-by-step guide outlines the process of purchasing Bitcoin at Walmart through a P2P exchange using the Walmart2Walmart money transfer service.
- It highlights the need for specific details and valid identification when making the purchase at a Walmart location.
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Verification and Tracking:
- After purchasing Bitcoin at Walmart, the article explains the importance of verifying the transaction by providing details to the Bitcoin seller.
- It mentions the ability to track the transfer using Walmart's online tool, adding a layer of transparency to the process.
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Payment Methods at Walmart:
- The article mentions the option of paying for Bitcoin at Walmart using cash, and interestingly, it notes that Walmart gift cards are also accepted.
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Crypto Credit Cards:
- Towards the end, the article briefly touches upon the growing ease of buying, selling, and spending cryptocurrencies, mentioning the availability of crypto credit cards.
In summary, the article provides a comprehensive guide for beginners on how to buy Bitcoin at Walmart through a peer-to-peer exchange, covering wallet setup, the use of Walmart's unique money transfer service, and the overall purchasing process.
