Shiba Inu Follows Dogecoin to Get Support on Bitcoin of America ATMs

BTC, ETH, and Litecoin are already supported by Bitcoin of America.

By Radhika Parashar | Updated: 5 April 2022 17:29 IST

Shiba Inu Follows Dogecoin to Get Support on Bitcoin of America ATMs

Photo Credit: Twitter/ Shiba Inu

Bitcoin of America claims to have over 1,800 Bitcoin ATMs

Highlights

Bitcoin of America has over 1,800 BTMs across 31 states
Last month, support for Dogecoin was added on its ATM machines
SHIB’s market cap is $14.6 billion (roughly Rs. 1 trillion)

The Shiba Inu cryptocurrency has officially made it to the crypto ATM machines run by the Bitcoin of America. The US-based ATM chain claims to have recognised the potential of Shiba Inu that finalised its decision of adding its support to its crypto ATM machines. Just last month, the same company added support for Dogecoin on its ATM machines across the 31 states it operates in. These crypto ATMs offer an array of crypto services including trading, selling, and purchasing of these assets.

Among other cryptocurrencies, Bitcoin of America ATMs already offer services for Bitcoin, Ethereum, and Litecoin.

“Bitcoin of America has more than 1,800 BTMs across 31 states. They recognised the growing popularity of Shiba Inu and decided it was time to include it in their BTMs,” the company said in a press release.

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The ATM provider, registered as a money services business with the United States Department of Treasury, also posted the announcement on Twitter.

We asked....you answered! Shiba Inu is NOW available at Bitcoin of America BTMS :round_pushpin: #shibainu #shibainucoin pic.twitter.com/a8rJ0BsjDt
— Bitcoin of America (@BTCofAmerica) April 4, 2022

SHIB was made by an anonymous creator ‘Ryoshi' in August 2020, and was marketed as a Dogecoin killer. The total market cap of SHIB is over $14.6 billion (roughly Rs. 1 trillion) and each token is currently trading at $0.000028 (roughly Rs. 0.002106) as per Gadgets 360's crypto price tracker.

Meanwhile, crypto ATMs are becoming increasingly usual in parts of the world.

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In October 2021, American retail giant Walmart announced that it would get 200 Bitcoin ATMs installed in select store branches located across the country.

In El Salvador, for instance, Bitcoin ATMs allow people to transact in the crypto token or convert it to fiat.

Last year, US' Federal Bureau of Investigation (FBI) had warned people against using crypto ATMs, especially the ones that advertise anonymity for transactions.

“These cryptocurrency ATMs may be non-compliant with US federal regulations and may facilitate money laundering. Instructions to use cryptocurrency ATMs with these specific characteristics are a significant indicator of fraud,” the FBI had noted at the time.

Earlier this year, UK's Financial Conduct Authority (FCA) ordered all crypto ATMs operating in the country to suspend services citing illegal operations.

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Further reading: Shiba Inu, Cryptocurrency, Crypto ATMs, Dogecoin, Bitcoin of America

Radhika Parashar

Email Radhika

Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More