According to CoinFlip, the leading Bitcoin ATM provider in the US, Dogecoin (DOGE) is now listed on its 1,800-terminal network. According to a Tuesday tweet by CoinFlip, users can now purchase DOGE using cash across its network, as the company makes the most of DOGE’s surging popularity.
Dogecoin was first started solely as an internet meme in 2013. Just recently shifting to a near ten billion dollar market cap due to support from celebrities like Elon Musk, Snoop Dogg, Kevin Jonas, and Gene Simmons. This announcement validates the coin’s legitimacy and further showcases CoinFlip’s dedication to meet consumer and industry needs as coin popularities shift.
CoinFlip’s spokesman said the company has always been about small business and retail customers. With recent developments, Dogecoin has shifted into more than just a meme coin; it has become a symbol of the upcoming league investors.
Dogecoin Mass Adoption
In this regard, DOGE’s CEO and co-founder Daniel Polotsky said recent mass adoption and popularity are the primary reasons for the initiative.
On Feb. 4, Dogecoin’s price rallied 25%, just after Elon Musk, Tesla, and SpaceX founder tweeted an illustration of a rocket lifting to the moon and wrote ‘Doge’ underneath it. A few days later, Musk conducted a survey asking whether Doge will be the future currency of this planet. Interestingly, 71.3% of the 2.40 million poll participants responded with a reply of ‘yes.’
Mark Cuban, the owner of NBA Dallas Mavericks, joined the conversation saying that Doge gives people a better opportunity of winning than a lottery ticket. At the same time, he pointed to the coin’s role in giving knowledge on the economics of supply and demand and introducing people to crypto assets. He added that he genuinely loves it as the lowest-cost economics teaching tool available that entertains at the same time. He noted that the meme coin’s attention is “not a bad look” for the industry.
CoinFlip has seen significant growth in demand over the last 12 months, with revenue more than tripling every year. The firm grew from 441 ATMs in January 2020 to over 1,400 by year’s end, with terminals in 45 states of the 50. Currently standing at 1,800, CoinFlip intends to grow that number to over 4,000 by year’s end.
Founded in 2015, CoinFlip is headquartered in Chicago. The company cuts typical transaction fees by more than half, offering a straightforward user experience and 24/7 customer support, becoming an industry standard. In addition to Bitcoin, Coinflip ATM also supports Ether (ETH), Binance coin (BNB), DASH, LINK, USDC, Litecoin(LTC), and XLM.