Bitcoin of America Adds Shiba Inu to Its Crypto ATMs
Shiba Inu, the second largest meme cryptocurrency, has been added to the popular ATM network after Dogecoin and Ethereum
Popular cryptocurrency ATM operator Bitcoin of America has added meme cryptocurrency Shiba Inu (SHIB) to its list of available cryptocurrencies, according to a Monday press release†
The kiosks allow the buying and selling of Bitcoin as well as various altcoins, including Dogecoin.
As reported by U.Today, Bitcoin of America provided support for Dogecoin, the world’s largest meme cryptocurrency, last month, leading to a significant surge in the prank coin’s price.
At the time of writing, despite the recent addition, Shiba Inu is still down 3% in the last 24 hours. The Dogecoin rival has failed to rise higher in the news. The SHIB token is currently down 70.01% from its record high and is currently trading at $0.00002587 on the Binance exchange.
Cryptocurrency ATMs are similar to regular ATMs. They typically charge double digits, which is significantly higher than popular cryptocurrency exchanges.
A year ago, Bitcoin of America introduced its universal kiosk, which combines the features of a crypto ATM and a traditional ATM. Universal kiosks allow customers to buy crypto right after spending cash with their debit card.
Bitcoin of America operates 1,841 ATMs located across the US, according to data from Coin ATM Radar. Bitcoin of America maintains federal registration as a money service company after approval from the FinCEN.
The addition of Shiba Inu is expected to give the meme coin a major adoption boost. Last month, the token was also added to AMC’s lineup of supported cryptocurrencies.
The cryptocurrency struggled to pick up some steam in 2022 after becoming the top performer in 2021, turning early adopters into multi-millionaires.