Coinstar

[JillyQM]

Has anyone used the Coinstar machines that say they handle bitcoin transactions? Will they work for donating to the forum?

 

[JeffRX]

Has anyone used the Coinstar machines that say they handle bitcoin transactions? Will they work for donating to the forum?

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.

 

[JillyQM]

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.

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

 

[JeffRX]

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

Ahh, gotcha. I thought I finally found something to do with all of my spare change 

 

[LaceyofDiamonds]

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!

 

[JillyQM]

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.

 

[mountaincat9]

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

 

[SirLoins]

The Coinstar I use charges 4%.