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Users can buy and sell Bitcoin as well as a range of other cryptocurrencies, including Dogecoin and Shib, at the kiosks.
Support for Doge and Shiba
Bitcoin of America, a Popular cryptocurrency ATM operator has added meme cryptocurrency Shiba Inu (SHIB) to its roster of tradable cryptocurrencies.
According to reports, Bitcoin of America allowed support for Dogecoin, the world’s largest meme cryptocurrency, last month, causing the joke coin’s price to skyrocket.
ATMs that accept cryptocurrency can be comparable to traditional teller machines. They frequently charge fees in the double digits, which are substantially higher than what prominent bitcoin exchanges charge.
Despite the recent increase, Shiba Inu is still down 3% in the last 24 hours as of press time. The competitor to Dogecoin has not risen in response to the announcement. On the Binance platform, the SHIB cryptocurrency is currently trading at $0.00002587, down 70.01 percent from its all-time high.
Will Shiba Inu rise again?
A year ago, Bitcoin of America revealed its universal kiosk, which combines the capabilities of a crypto ATM with those of a standard ATM. Customers can buy cryptocurrencies as soon as they withdraw cash from a universal kiosk using their debit card.
According to reports, Bitcoin of America operates 1,841 ATMs across the United States. After getting approval from FinCEN, Bitcoin of America retains a federal registration as a money services firm.
The emergence of the Shiba Inu is anticipated to boost the meme coin’s popularity dramatically.
The cryptocurrency has been failing to gain traction in 2022 after becoming the best performer in 2021 and turning some early adopters into multi-millionaires.
Facts about SHIBA INU
Shiba Inu (SHIB) is a cryptocurrency built on Ethereum that seeks to be an Ethereum-based alternative to the popular meme coin Dogecoin (DOGE). Unlike Bitcoin, which is designed to be limited, SHIB is designed to be abundant, with a total supply of one quadrillion coins.
The Shibaswap decentralized exchange and the NFT art incubator are both supported by the Shiba Inu Token ecosystem.
SHIB is a cryptocurrency that aims to be a Dogecoin-compatible Ethereum replacement (DOGE). SHIBA, like DOGE, is supposed to be numerous, with an initial circulating quantity of one quadrillion coins.
ALSO READ: Will Shibarium Blockchain bring some utility?
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
