Dogecoin Is Now Available at A Specialty ATM Near You… maybe!
Dogecoin price increased on Wednesday. DOGE was up 4% as of late this afternoon, outperforming the effectively sideways-moving Bitcoin and Ethereum, as well as the slight rise of its rival meme token Shiba Inu.
Dogecoin’s rise appears to be linked to its sudden appearance in ATMs
Wednesday morning, privately held fintech company Bitcoin of America announced that the token had been added to its Bitcoin ATMs (or BTMs, as the company likes to abbreviate them).
While this does not instantly turn Dogecoin into a star utility currency, it does significantly increase access to the token. Bitcoin of America claims to have installed over 1,800 BTMs across the United States, covering 31 states.
As their name implies, those machines also offer transactions in Bitcoin. Ethereum and Litecoin are also accessible through the devices.
The current-generation Bitcoin of America BTMs are called “universal kiosks” by the company
These enable traditional ATM transactions to be made using a customer’s debit card. Users in the crypto sphere can buy or sell the available cryptocurrencies for cash.
While inclusion as a cryptocurrency option in the Bitcoin of America cryptocurrency machines isn’t a major breakthrough for Dogecoin, it’s still a win. Any action that broadens access to a cryptocurrency benefits that coin. Furthermore, such a move helps legitimize a token as an effective instrument of financial transactions, burnishing its reputation at least a little bit.