Coinstar

J

JillyQM

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Joined
Apr 25, 2016
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Has anyone used the Coinstar machines that say they handle bitcoin transactions? Will they work for donating to the forum?

 
JillyQM said:
Has anyone used the Coinstar machines that say they handle bitcoin transactions? Will they work for donating to the forum?
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Like they say they will pay you out in bitcoin for your spare coins? Does it say if it takes a fee? That is interesting, I knew you could avoid their fees by getting gift cards and stuff but hadn't heard that they would pay in bitcoin.

 
JeffRX said:
Does it say if it takes a fee? That is interesting, I knew you could avoid their fees by getting gift cards and stuff but hadn't heard that they would pay in bitcoin.
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i'm not sure if there's a fee, but they won't take your spare coins. You have to feed paper money into the machine. I don't think they even take credit or debit cards, though I don't know for certain. i will know the answer very soon

 
JillyQM said:
i'm not sure if there's a fee, but they won't take your spare coins. You have to feed paper money into the machine. I don't think they even take credit or debit cards, though I don't know for certain. i will know the answer very soon
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Ahh, gotcha. I thought I finally found something to do with all of my spare change 😂

 
Hello JillyQM, and all Bitcoiniacs out there. I have used the fabulous COINSTAR machines many times. Yes they do require a fee for all transactions. Coinstar’s fee is currently set at 11.9 percent of the value of the cash you’re exchanging. That’s nearly $12 for every $100 in cash you feed to the machine. You’d have to guess how much change you have accumulated to calculate the Coinstar fee. If you think you have $500, for example, you’d need to hand over $55, leaving you with $445.

Only paper money is accepted in coinstar machines, and absolutely NO plastic cards of any kind are able to be used. So come to the machine with a pocket full of CASH! Hell, at this rate soon enough you will need a wheel barrow to carry all the cash you'll need to buy just 1 BTC!

 
All I really need from Bitcoin is a way to donate to this site, so it works for me. Once each year or so I'll have to hand over to them a bit of my hard-earned cash.

 
I use Coinstar & it's super easy which for me is saying something.  They do take a fee for me it's usually around $10 for a few hundred in BTC.  Then you just take the receipt & redeem it at Coinme your wallet.  Then you can send anywhere!  

But they just re-vamped their website so now I have to get back into the groove. LOL

 
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