Localcoin ATM adds Shiba Inu (SHIB) as it expands presence in Australia

Localcoin, a renowned cryptocurrency ATM provider, revealed a notable announcement for Australian investors. The financial company will allow users to buy Shiba Inu (SHIB) from its 166 ATMs.

Further, residents can purchase stablecoin Tether (USDT) at any Localcoin machine in Australia.

Shiba Inu has been among the top gainers as memecoins propel ongoing broad-market rallies. Its price remained relatively flat at press time, following a more than 35% upswing over the past week.

Localcoin’s move came when Shiba Inu witnessed increasing attention, which even saw the asset’s developer quoting the Bible to repel critics. 

The memecoin has attracted new investors since March started. SHIB’s active addresses jumped to 21K on 7 March, confirming a substantial 2,000% uptick from the 24-hour average in February.

Buying SHIB on Localcoin

Here's how cryptocurrency enthusiasts in Australia can purchase Shiba Inu tokens at any Localcoin outlet.

• Users should download a SHIB-compatible wallet with a built-in QR code.

• Locate the nearest Localcoin ATM in your area.

• Kick-start the transaction by selecting Shiba from the various supported assets and insert your QR for scanning.

• You can finalize the purchase by putting the amount of tokens you need. Confirm the details and proceed with your transaction.

• The company will deposit SHIB into your crypto wallet upon success. Notably, each transaction will carry a service fee.

Localcoin’s growth

Localcoin is a cryptocurrency ATM provider based in Toronto, Canada. However, it recently ventured into the Australian market.

The fintech firm had 52 ATM outlets in Australia by November last year. Nonetheless, it announced plans to cement its footprints in the country by increasing the number of machines to 120. With 166 ATMs currently, Localcoin surpasses the goal.

While it initially supported Bitcoin (BTC) only, the company expanded by introducing various cryptocurrencies, including SHIB. The ATM added Shiba Inu to its compatible coins in October 2023.