Coin Cloud announced an update to its crypto wallet, allowing the seamless use of about 6,000 Bitcoin ATMs and digital currency machines (DCMs) operating across the U.S. and Brazil.

Alongside the update of the Wallet itself, support for Cardano (ADA), Polygon (MATIC) and ApeCoin (APE) has been added to the existing range of 40 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE) and Shiba Inu (SHIB).

Just as importantly is the fact that Coin Cloud wallet is noncustodial. Commenting on the event, CEO and founder Chris McAlary said that the highest priority in developing the wallet was to concentrate control over the funds in the hands of their direct owner. This is the only way to ensure the principle “not your keys, not your coin,” stated the entrepreneur.

Brazil is steadily adopting crypto

Everything is clear with the U.S.: crypto ATMs exist and have been actively used there for a long time, and the country itself is probably number one in the field of cryptocurrencies. What about Brazil? How is the crypto business there, and what is Coin Cloud’s perspective on the largest Latin American country?

Judging by the latest news, it is more than just good, especially as seen in the last week. First, Rio de Janeiro confirmed its plans to introduce cryptocurrencies and blockchain into the city’s infrastructure, even stating its intention to become the country’s crypto ecosystem. Next, Brazilian payment service PicPay, an analogue of PayPal and Cash App, launched cryptocurrency trading to its audience of 65 million people. Now another major Brazilian financial institution, Itau Unibanco, is thinking of following suit.

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LAS VEGAS, Oct. 15, 2021 (GLOBE NEWSWIRE) — Coin Cloud, the world’s largest digital currency machine (DCM) enterprise, announced another new offering today. Several years after adding the media darling cryptocurrency Dogecoin (DOGE) to its DCM inventory, the company has launched the sought-after meme coin Shiba Inu (SHIB). That makes Coin Cloud the fastest and easiest way to buy the two most popular “dog coins” with cash.

Dogecoin still wins in terms of recognition among digital currencies that have Shiba Inu dogs as mascots. It was the first, and has gained plenty of momentum since its inception in 2013. But SHIB was created in 2020 and quickly dubbed the “Dogecoin killer.” Many see it as directly competing with the much-loved DOGE altcoin, which attracts fans of all ages and demographics, including influencers and celebrities.

The Shiba Inu project has been strategic in this race, boosting the coin’s value by sending half its total supply to Ethereum co-founder Vitalik Buterin. In May, Buterin donated $1 billion worth of his SHIB stash to a COVID-19 relief fund in India, making it the largest charitable crypto donation of all time and demonstrating the power of digital currencies to make direct contributions without middlemen.

Not just a simple meme coin, Shiba Inu has a full ecosystem including three tokens (SHIB, LEASH and BONE) and a Decentralized Exchange (DEX), ShibaSwap. You can also stake and swap SHIB on other DEXes, including Uniswap, SushiSwap and 1inch. The tokens for all these platforms are available at Coin Cloud DCMs.

“It’s been quite a journey bringing these options to our clients, but we react quickly to customer demand and make it happen,” said Chris McAlary, CEO of Coin Cloud. “We believe in offering people the coins they want, the way they want them. It became very clear when they wanted DOGE, and more recently we got a lot of requests for SHIB, so we’re happy to be able to fill that demand with the easiest cash purchase option.”

The Shiba Inu Coin has received increasing attention over recent weeks, and even hit #1 on social media tracker AltRank just a few days ago. Whether it will overtake Dogecoin remains to be seen, because DOGE maintains a Top 10 market cap position, while SHIB just broke the Top 20. Nonetheless, with each currency having its own audience, character and purpose, there’s likely to be room for both top dogs during the foreseeable future.

Coin Cloud provides the only national network of 100% two-way DCMs, offering purchase and cash-out options at every location. Their DCMs are the next generation of standard Bitcoin ATMs, and give customers the ability to instantly buy and sell Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and over 35 other digital currencies with cash, including the most popular stablecoins and DeFi tokens.

You can find your closest Coin Cloud DCM any time in the mobile app or online at www.Coin.Cloud/dcms. For more information on Coin Cloud, visit www.Coin.Cloud or follow Coin Cloud on Twitter at @CoinCloudDCM.

About Coin Cloud:Coin Cloud is an industry-leading digital currency machine (DCM) company founded in 2014 in Las Vegas, Nevada. With over 4,000 locations, Coin Cloud is the world’s largest, fastest-growing, and only nationwide network of 100% two-way DCMs. Coin Cloud DCMs, the next generation of the Bitcoin ATM, empower you to quickly and easily buy and sell 40+ virtual currencies spanning six categories, and their full ecosystem of products and services also includes online purchasing, Private Client Desk over-the-counter services, and the free Coin Cloud Wallet app. You can find your nearest Coin Cloud DCM at www.Coin.Cloud/dcms

Press Contact:Steve StratzRelevanz Public Relations for Coin Cloud206.300.9134steve@relevanzpr.com

Source: Coin Cloud