Canadian Bitcoin ATM Firm LocalCoinATM Lately opened the Initial Ethereum ATM (ETH) in Toronto, Also have Additional support for Ethereum on all their Bitcoin ATMs from the Greater Toronto Region.

Citizens of the Great White North, rejoice! Canadian Bitcoin ATM firm LocalCoinATM recently declared the launching of their initial Ethereum ATM in Toronto, also have additional support for Ethereum on the remainder of the Bitcoin ATM network.

The newest ATM is located at 161 Church Street, Toronto interior of a Hasty Market, a lineup of convenience shops popular during Ontario. It joins additional ATMs situated across the Greater Toronto region in Etobicoke, Brampton, Vaughan, Markham, and North York.

Bitcoin and Ethereum ATM machine

This information comes about a month following LocalCoinATM additional Litecoin service to every one of the ATMs, which makes them the first business to support Litecoin ATMs in Toronto as well.

Only days following this statement, LocalCoinATM also declared a new ATM in Mississauga, which also accepts Bitcoin, Ethereum, and Litecoin. Their website also lists intends to include ATMs in Niagara Falls and Hamilton.

According to their FAQ, you can buy as little as $5 CAD value of Bitcoins in their ATMs. But they simply accept Canadian Dollars at the moment. Their site can be noted that customers must have an Ethereum wallet so as to make trades, as a Bitcoin wallet Won’t utilize an Ethereum wallet..

Expanding the Crypto Currency Network

This growth comes as excellent news to those who buy altcoins along with Bitcoin. Although Bitcoin now boasts the largest network of ATMs and merchants, other monies such as Ethereum and Litecoin often get less ATM exposure.

According to Bitcoin ATM Radar, there are now 1,464 Bitcoin ATMs spread across the globe. North America asserts the great portion (74%), with 201 located in Canada itself (the US stands at first with 974). However, there are now only 259 Litecoin ATMs globally, and a paltry 58 Ethereum ATMs in total.

This information, in conjunction with their aid for Litecoin, now means that all three monies have broad ATM service across the Greater Toronto region. With their plans to include new ATMs outside of Toronto in Hamilton and Niagara falls, it looks as though LocalCoinATM plans to expand policy across much of the Golden Horseshoe.

The Return of Ethereum

Although Bitcoin Cash made waves this weekend when it tripled in price almost overnight, Ethereum still holds the lead as the second most popular cryptocurrency after Bitcoin. According to CoinMarketCap, its current market cap is close to $28 billion, more than double Bitcoin Cash’s $13 billion.

Bitcoin, Ethereum, BitcoinCash market cap

It was not long ago that Ethereum’s massive gains in April and May (over 4000% in 2017) prompted Hedge Fund CEO Olaf Carlson-Wee to predict that it would overtake Bitcoin by the end of 2018. During the peak of its rally on June 17, it came within a 7% gap to edging out Bitcoin’s market cap.

However, network congestion and concerns regarding absurd speculation over ICOs caused fears of a bubble. Ethereum quickly crashed over the weeks of June and July and is just now recouping some of its own losses.

Nevertheless, many companies continue to push out ICOs on Ethereum, with no likely signs of stopping. VR startup DECENTRALAND recently closed a token lunch and also raised $25 million in only 10 minutes. Decentraland is a virtual reality platform powered by the Ethereum blockchain which lets consumers create, expertise, and monetize content created in their platform.

Leave a Reply

Your email address will not be published. Required fields are marked *