Popular Bitcoin ATM operator Bitcoin of America has announced it added support for the meme-inspired cryptocurrency Dogecoin ($DOGE) on all of its machines, allowing users to buy and sell DOGE at hundreds of physical locations.
According to a press release Bitcoin of America published, a company registered as a money services business with the United States Department of Treasury, published, the company also added support for Ethereum in October last year.
The press release adds that Bitcoin of America has 1,800 Bitcoin ATMs across 31 states, also includes Bitcoin ($BTC) and Litecoin ($LTC) support on its machines. The firm has been updating its machines and in May of last year launched what it calls a Universal Kiosk.
The Universal Kiosk, it adds, is a machine combining traditional ATM functions with Bitcoin ATM functions, meaning users can withdraw funds from their debit cards through these kiosks, while also being able to buy and sell cryptocurrency.
The Bitcoin ATM operator’s adoption comes shortly after other companies started adopting meme-inspired cryptocurrencies like DOGE. As reported, the real estate investment trust (REIT) to accept cryptocurrencies for shares, has also adopted the meme-inspired cryptocurrencies including SHIB.
Earlier this month, leading U.S. movie theater chain AMC added both DOGE and SHIB as payment methods ahead of its planned schedule. DOGE is notably supported by the CEO of Tesla Elon Musk, so much so the electric car maker accepts DOGE payments for merch on its website.
Musk has said he believes DOGE is better for transactions than other cryptoassets like BTC. Musk added that bitcoin’s transaction volume is low while its cost per transaction is high, making it more suitable as a store of value. Being a store of value means investors want to hold onto their BTC and not sell it or move it in transactions.
Musk, along with Dogecoin’s co-creator Billy Markus, have pushed McDonald’s to accept DOGE as a payment method, but the fast-food giant ultimately did not move forward with such an integration.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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