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Bitcoin of America Adds Shiba Inu to Its Crypto ATMs

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Mon, 04/04/2022 - 18:49
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Alex Dovbnya
Shiba Inu, the second-largest meme cryptocurrency, has been added to the popular ATM network after Dogecoin and Ethereum
Bitcoin of America Adds Shiba Inu to Its Crypto ATMs
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Popular cryptocurrency ATM operator Bitcoin of America has added meme cryptocurrency Shiba Inu (SHIB) to the list of available cryptocurrencies, according to a Monday press release.    

The kiosks allow buying and selling Bitcoin as well as several altcoins, including Dogecoin.  

As reported by U.Today, Bitcoin of America enabled support for Dogecoin, the world’s largest meme cryptocurrency, last month, which led to a substantial increase in the price of the joke coin.

At press time, Shiba Inu is still down 3% over the past 24 hours despite the recent addition. The Dogecoin rival has failed to spike higher on the news. The SHIB token is currently down 70.01% from its record high, currently trading at $0.00002587 on the Binance exchange.

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Cryptocurrency ATMs are similar to ordinary teller machines. They typically charge double-digit fees, 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 let customers buy crypto right after dispensing cash with their debit card.

Bitcoin of America operates 1,841 ATMs that are located all over the U.S, according to data provided by Coin ATM Radar. Bitcoin of America maintains a federal registration as a money services business after obtaining 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 has been struggling to pick up some steam in 2022 after becoming the best performer in 2021 and turning early some early adopters into multi-millionaires.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.