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Crypto ATM Provider CoinFlip Adds Dogecoin, ‘Validating Its Legitimacy’

Sead Fadilpašić
Last updated: | 1 min read

US-headquartered Bitcoin (BTC) ATM provider CoinFlip said it has added dogecoin (DOGE) to its 1,800-terminal network.

Source: iStock/isa_ozdere

Though it started out as the internet meme, “this announcement validates the legitimacy of the coin,” stated the company’s press release.

CEO and Co-Founder Daniel Polotsky added that, “Given its growing popularity and recent mass adoption, we are dedicated to making sure that Dogecoin is a part of our portfolio of coins, and encourage further support of this cryptocurrency in the coming months.”

Their Twitter post further adds that buyers can use discount code “DOGE” for 15% off all transaction fees.

They also suggested that more news would be arriving shortly, but haven’t given further information on what the news is about, whether it’s related to DOGE, or if it concerns another coin.

Dogecoin has been hyped by different groups on different occasions, such as the 2020 TikTok craze, as well as the early 2021 interest it stirred in the (in)famous WallStreetBets subreddit – but nothing came close to the surge the coin saw following a series of tweets by Tesla supremo Elon Musk and all the subsequent commotion, in the meantime also gaining support by other celebrities, such as Snoop Dogg and Gene Simmons.

At 13:59 UTC, the 14th coin by market capitalization (USD 6.58bn) is trading at USD 0.051. It’s up 1.7%, trimming its weekly losses to almost 4%. The price is up by 80% in a month and 2,182 in a year.

CoinFlip’s press release noted that the company reported this February a 359% increase in revenue from the year prior, and that it more than tippled the size of its Bitcoin ATM network – it expanded its network from 441 ATMs in January 2020 to over 1,400 by the end of that year, with terminals in 45 of the 50 states, it said.

CoinFlip supports the buying and selling of nine cryptocurrencies, and they offer three services, per their website: Bitcoin ATMs, buying cryptocurrency online through credit or debit cards, and a gift card marketplace where users can exchange bitcoin and bitcoin cash (BCH) for name brand gift cards.
Learn more:
DOGE’s Rally Has Revived Dogecoin Development, But For How Long?
GameStop and Dogecoin Show How Memes Can Move Markets
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