Estimated reading time: 9 minutes
What if you had an option of putting those Walmart gift cards to use in buying Bitcoin? Buying bitcoins has never been this easy and secure. You are wondering how to buy a Bitcoin at Walmart? Well, let us give you a detailed insight.
Summary
- Walmart does not sell bitcoins at their store. However, you can get one from a Peer to Peer trading platform.
- To begin with, when buying bitcoin at Walmart, you need a digital Cryptocurrency wallet.
- Then choosing the best peer-to-peer cryptocurrency platform is very important.
- You then choose a seller from one of these platforms who is ready to accept payment through Walmart.
- You then transfer the funds to account details provided by the seller from Walmart.
- On accepting payment, the seller releases the Bitcoin on the exchange platform.
- Walmart charges a significant transaction fee depending upon the amount transferred.
- The security depends upon Walmart as well as the exchange platform.
- There are many scammers on these websites, so beware of scammers.
How to buy Bitcoin in Walmart?
Although Walmart sells almost everything, they don’t specifically sell cryptocurrencies as of yet. However, there are ways of purchasing cryptocurrency through Walmart.
To say it briefly, you can use the Walmart gift cards or deposit cash in your Walmart wallet. Then use it to purchase a bitcoin.
The first thing you need to do is setting up a cryptocurrency wallet because that is where you’re going to receive your bitcoin.
Setting up a cryptocurrency wallet
A cryptocurrency wallet stores your digital assets and prevents them from being stolen by hackers. Online crypto wallets are available at ease on the internet, but finding the right one for you is a tedious task.
Let us help you out by listing the best five digital cryptocurrency wallets
- Exodus wallet: They are one of the best crypto wallets and offer its users mobile, desktop, and hardware wallets.
- Nimiq Safe wallet: It is a decentralized and censorship independent peer-to-peer payment protocol aimed to achieve mass adoption.
- Coinbase wallet: Coinbase offers a rich user interface and supports a wide range of cryptocurrencies.
- Blockchain.com Wallet: It comes with an open-source API so that you can customize it as per your needs.
- Electrum wallet: It is one of the oldest and most respected lightweight bitcoin wallets in the market.
Procedure to set up any of these wallets
Setting up one of these wallets is very simple. Let’s have a look at the steps to do so:
- First, visit one of the websites above and click on the signup link on their home screen.
- Then fill in all the necessary details and confirm your account.
- Enable all the security options like two-factor authentication.
Since now your account is set up, let’s begin the procedure of buying the bitcoin.
Buying bitcoin at Walmart
To get your hands on bitcoins, you need a seller who accepts payments through Walmart. The best way to trade bitcoins through Walmart is if you know someone who’s personally willing to do so.
However, if you wish to find someone online, who can make this exchange with you, various websites provide this service.
Searching for best peer to peer trading websites offering Walmart exchanges
There are major cryptocurrency exchanges helping sellers reach buyers and vice versa. Some of them are:
- LocalBitcoins: It is the oldest P2P exchange platform and uses Escrow to protect user’s assets. Read our guide on LocalBitcoins here.
- Paxful: They offer the lowest rates in Peer-to-Peer transactions among their users and provide various payment options.
- Binance P2P: Binance being the largest crypto trading platform in the world, it is no shock they offer P2P services as well. However, Binance does not give you an option to pay with Walmart, yet you can talk it out with the seller.
Signing up to one of these platforms:
It is simple setting up your profile on these websites, and all they require are some necessary details. However, let’s see the procedures to create an account on Paxful:
- Visit Paxful.com and click on the create account button on the home page.
- Now enter your details like email and password. Then complete your account verification through mail on the email ID you provided.
- Now, you’re all set up. Yet, it is recommended to verify all of your details for better deals as well as better security.
After you’ve successfully logged in to one of these websites, you need to find a seller for yourself. Choose the seller that fits your needs the best and confirm the Walmart payment method.
Walmart 2 Walmart
Walmart provides you with an opportunity to send and receive cash from one Walmart location to another Walmart location anywhere in the USA and Puerto Rico.
You can also use your Walmart gift cards to pay the seller. It is one of the benefits of buying bitcoins through Walmart.
Procedure to trade on these websites
Buying bitcoins at Walmart is straightforward. However, the process is a bit lengthy.
- The first step would be setting up your digital cryptocurrency wallet.
- Then you’ll have to sign up for a P2P exchange platform.
- After completing this process, find a seller who is willing to trade in Walmart.
- Ask your seller for the necessary details to move with Walmart to Walmart transaction.
- Now head to the Walmart Money centre counter and deposit the amount to the account provided by the seller.
- Do not forget to carry one of these government IDs with you.
- US Passport
- US Permanent Resident card
- State ID
- US Driver’s License
- International Passport
- Mexican Matricula Consular
- Your seller will receive the amount within ten minutes at the Walmart location of his choice.
- Now, wait for the seller to confirm your end of the bargain.
- After he has received the amount, the seller will release the bitcoin from the exchange platform you chose.
- After receiving the bitcoin, transfer it to your wallet.
Walmart app
Walmart also offers a mobile app that lets you process the transaction yourself. It also provides you with an option to check the status of your processed payments.
Fees charged by Walmart
After you’ve deposited the money in the seller’s account, Walmart charges you a transaction fee. The fee is significant compared to other ways to get bitcoin locally. Hence people usually don’t prefer this method.
Walmart charges a fee based on the amount of transaction you process,
| Amount interval | Fee charged |
|---|---|
| $0 – $50 | $4 |
| $50 – $1,000 | $8 |
| $1,000 – $2,500 | $16 |
Scammers
You must be aware of the platform you’re choosing for a peer-to-peer trade. Many scammers are lingering on such websites. Hence it is highly recommended to choose a seller with a larger number of sales.
You must always carefully read the seller’s demands and instructions and only then proceed with the trade.
Security
The security of your transaction from Walmart’s side is highly efficient. They use all the major security protocols.
You can know more about the privacy and security offered by Walmart here.
However, it also depends on the Peer to peer platform you’re using to make an exchange. So it is recommended to go through their security protocols. You can read about the security offered by LocalBitcoins here.
Pros and cons
| Pros | Cons |
|---|---|
| You can use cash to make a Walmart 2 Walmart transaction. | The procedure is lengthy. |
| You can put Walmart gift cards to use. | There are a large number of scammers on the peer Peer exchange platforms. |
| You can keep track of the transaction from the Walmart app. |
Conclusion
The value of Bitcoins keeps increasing, and it can be considered one of the best investments. Now that you know how to buy bitcoins at Walmart, you can also get your hands on it. Buying bitcoin at Walmart can be a long process. However, it does provide you with options to use cash and, most importantly, those Walmart gift cards.
Frequently Asked Question
Can I directly buy bitcoins from Walmart?
No, Walmart does not sell bitcoins at their store yet. However, you can get bitcoins by making a trade on the Peer-to-Peer exchange platform. You can read the full guide above.
Can I use my Walmart gift cards to buy Bitcoins?
Yes, you can use your Walmart gift cards while making a Walmart 2 Walmart transaction. However, be sure to confirm the preferred payment method with your seller.
Does Walmart accept Bitcoin as payment?
No, Walmart has no such option of accepting payments in digital currencies. However, you can sell your bitcoin to anyone in exchange for cash. And then use this cash to shop at Walmart.
