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Bitcoin ATMs to be tested out at Sheetz convenience stores

Katherine Lam

Sheetz announced Tuesday it will be adding bitcoin ATMs to six stores in Pennsylvania and North Carolina, giving customers an opportunity to sell and buy cryptocurrency using U.S. dollars.

The convenience store chain teamed up with Coinsource to add the machines to five Sheetz stores in Pennsylvania and another in Winston-Salem, North Carolina.

“Sheetz is constantly innovating and pioneering new offerings to give our customers what they want, when they want it, 24/7,” Sheetz’s AVP of Brand Ryan Sheetz said in a news release. “As cryptocurrency increases in popularity and demand, we are excited to add this service in our continual mission to be the ultimate one-stop-shop.”

Customers must join Coinsource before using the kiosks. They can then conduct transactions between $5 and $5,000 each day from one of the bitcoin ATMs.

Coinsource CEO Sheffield Clark said the machines give cryptocurrency users easy access to pick up bitcoin.

“Sheetz customers will be able to just as easily pick up Bitcoin as they could a fresh cup of coffee and morning bagel,” Clark said. “The ability to buy crypto at one of the most respected and innovative chain convenience store operators in the country is huge for mass adoption of Bitcoin and a testament to the industry leadership of Sheetz.”

Coinsource has added more than 250 machines across the U.S.

Bitcoin, the leading digital coin, topped $11,000 in late June for the first time since March 2018. Cryptocurrencies have been in the spotlight, especially after Facebook announced the launch of Libra, a new digital currency.

Crypto projects from Facebook and mainstream financial institutions have provided a major boost to bitcoin, which is the largest digital currency by market capitalization and a benchmark for the concept as a whole. Bitcoin’s value rose as high as $19,873 as of December 2017, only to crash to dramatic lows in 2018 amid a series of cybersecurity breaches, exchange hacks and concerns about a lack of oversight or regulation.

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Fox Business' Thomas Barrabi contributed to this report. 

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