Coinme expands cash-to-crypto service to 50,000 US locations

Coinme has expanded its cash-to-crypto services in the United States, adding over 10,000 new Coinme Cash locations through the Green Dot network and now reaching more than 50,000 retail sites nationwide.

The company announced that Coinme Cash is now available at prominent retailers, allowing users to fund their Coinme wallets by converting physical cash into cryptocurrencies with what the firm states are lower transaction fees than traditional Bitcoin ATMs.

Service access

Neil Bergquist, Chief Executive Officer and Co-Founder of Coinme, noted the company's focus on broadening access for all consumers, including those outside the traditional banking system. Bergquist said, "This major network expansion brings our low-cost crypto onramp to even more of the everyday stores millions of people already visit each month. Crypto shouldn't be limited to people with bank accounts. Coinme Cash enables users to convert physical cash into digital currency with transaction fees that rival leading debit card services."

The new Coinme Cash service uses a flat retailer service fee of USD $3.95 regardless of the amount funded. According to company data, the expansion gives consumers up to 35% more cryptocurrency for the same USD $500 cash transaction compared with the leading Bitcoin ATM operator. Coinme states this amounts to an 80% reduction in costs for consumers who rely on cash-based transactions when accessing digital assets.

Consumer process

To use Coinme Cash, customers enter the desired cash purchase amount within the Coinme app, visit a participating retailer, scan a barcode at checkout, and provide the cashier with physical cash. Once the transaction is completed, funds are instantly available in the Coinme wallet, which consumers can use for payments, remittances, peer-to-peer exchanges or for sending onto a blockchain.

The process is targeted at both new and existing cryptocurrency users who value simplicity and transparency when buying digital assets, while also addressing the needs of the cash-preferred market segment.

Market trends

The expansion comes as a response to the growing public interest in decentralised finance and the search for alternatives to conventional banking services. Access to digital currency through retail locations is seen as particularly significant for users without a bank account or those wary of opening and maintaining one.

Coinme's analysis indicates that transaction fees at Bitcoin ATMs can exceed 30% of the transaction value, often making crypto access prohibitively expensive for cash-only users. Coinme is positioning its new service as a cost-effective alternative, reflecting broader market changes prompted by regulatory developments in the US.

The company noted that, "With the GENIUS Act now law and regulatory clarity rising, Coinme is betting that making crypto easier (and cheaper) to buy will drive the next wave of U.S. adoption and that the next phase of crypto adoption isn't about speculation; it's about infrastructure, access and savings."

Wider availability

The move to expand Coinme Cash's reach into 50,000 retail locations aims to make cryptocurrency more widely accessible for consumers throughout the United States, including those relying primarily on cash transactions. The new retail locations are powered through Coinme's partnership with the Green Dot network.

As Bitcoin and other cryptocurrencies continue to gain visibility in mainstream financial markets, Coinme's approach is focused on scaling infrastructure rather than speculative investment opportunities. The company aims to serve a consumer segment less connected to the traditional financial system and offer an alternative entry point into digital assets.

"This major network expansion brings our low-cost crypto onramp to even more of the everyday stores millions of people already visit each month," said Neil Bergquist. "Crypto shouldn't be limited to people with bank accounts. Coinme Cash enables users to convert physical cash into digital currency with transaction fees that rival leading debit card services."

The company stated that actual user savings may vary based on transaction amount, market conditions, promotional offers, timing and changes in operator fees or exchange rates.