Bitcoin of America, an ATM operator has added the meme cryptocurrency Shiba Inu to its network after previously listing Dogecoin and Ethereum.
According to a Monday news release, popular cryptocurrency ATM operator Bitcoin of America has added meme cryptocurrency Shiba Inu (SHIB) to its roster of tradable cryptocurrencies.
The kiosks allow users to purchase and trade Bitcoin as well as a variety of other cryptocurrencies, including Dogecoin.
According to reports Bitcoin of America allowed support for Dogecoin, the world’s largest meme cryptocurrency, last month, causing the meme coin’s price to skyrocket.
Despite the recent acquisition, Shiba Inu is still down 3% in the last 24 hours as of press time. The Dogecoin competitor has not risen in response to the news. The SHIB cryptocurrency is currently selling at $0.00002587 on the Binance platform, down 70.01 percent from its all-time high.
ATMs that accept cryptocurrency are comparable to traditional teller machines. They usually impose costs in the double digits, which are much more than those charged by popular bitcoin exchanges.
Bitcoin of America unveiled its universal kiosk a year ago, which combines the capabilities of a crypto ATM with those of a standard ATM. Customers can buy cryptocurrency soon after dispensing cash with their debit card at universal kiosks.
According to data given by Coin ATM Radar, Bitcoin of America operates 1,841 ATMs in the United States. After receiving permission from FinCEN, Bitcoin of America retains a federal registration as a money services firm.
Shiba Inu’s arrival is likely to enhance the meme coin’s acceptance significantly. The cryptocurrency was also added to AMC’s list of supported cryptocurrencies last month.
After becoming the greatest performance in 2021 and converting some early adopters into multi-millionaires, the cryptocurrency has been struggling to gain traction in 2022.
