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Bitcoin Cash (BCH) will now be available for purchase at crypto ATMs controlled by the Bitcoin of America.
Utility cryptos are gaining traction in the market every day. Various business outlets and organizations, including institutions, are now accepting them for payments. The latest coin to attract attention is Bitcoin Cash (BCH).
BCH is a Bitcoin hard fork that came into existence back in 2015. It later underwent its own hard fork, breaking the chain in two – the current BCH, and Craig Wright’s BSV. However, BCH seems to be gaining much more popularity than BSV.
Now, Bitcoin of America has decided to include Bitcoin Cash among the popular cryptos offered for sale via crypto ATMs. Bitcoin of America is an organization that acts as an exchange point for select virtual currencies. The company operates around 2,500 such ATMs spread across 31 states in the US.
Not The First Coin
Apparently, Bitcoin Cash isn’t the first crypto coin to be spotted and added to ATMs by the Bitcoin of America. Others that have come before BCH include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Shiba Inu (SHIB), and Dogecoin (DOGE).
To expand its business, Bitcoin of America offers interested store owners a chance to earn passive income by installing a crypto ATM at their location. Besides the passive income, the store benefits from the increased traffic and attention driven by the presence of ATMs.
It’s Good For BCH
The addition of BCH to ATMs is good for the coin, both in the short term and long term. First off, Bitcoin of America is known to only add cryptos that have proven useful to the community and have traction in terms of popularity and acceptance. Adding BCH proves that the coin has succeeded in these parameters. As a matter of fact, BCH is already being accepted as payment in various public places, including airports and restaurants across the world.
As can be noted from market stats, cryptos that have been added to ATMs tend to gain even more popularity. A case in point is the addition of Dogecoin and Shiba Inu. The two coins are now the top meme coins in the industry, and their teams are working on increasing their utility to be like BTC and ETH. Now, BCH is on this path as well. However, it’s not immediately clear whether this development will affect the crypto’s price, especially during this downturn. As of now, BCH is worth around $116.