Popular cryptocurrency ATM operator Bitcoin of America has released the meme token in a press release Monday. Shiba Inu (SHIB) Transactions can be made at ATMs cryptocurrencies announced its addition.
Some ATMs, together with Bitcoin, altcoins trading is possible. dogecoin has also recently become one of the cryptocurrencies supported by Bitcoin of America.
SHIB Continues to Drop After Bitcoin of America’s Shiba Inu Support
However, at the time of this writing, the Shiba Inu (SHIB) price is trading at $0.00002664, down 0.18% in the last 24 hours despite the development. SHIB price is in the region about 70% lower than the all-time high price record it broke.
Cryptocurrency ATMs work similarly to regular ATMs. However, the fact that these ATMs usually charge more than 10% commission fee negatively affects their frequency of use compared to cryptocurrency exchanges that operate with much lower fees.
A year or so ago, Bitcoin of America launched a universal ATM that could work as both a cryptocurrency ATM and a traditional ATM. Users can purchase cryptocurrencies immediately after depositing money at these ATMs with a debit card.
According to the data, currently Bitcoin of America operates 1,841 cryptocurrency ATMs in the United States. The company began federal registration as a money services business after it was approved by FinCEN.
This development is expected to provide major adaptation support for SHIB. Last month, the meme token was among the cryptocurrencies supported by AMC.
*Not investment advice.