The crypto ATM of Instacoin now offer dollar-pegged stablecoins for deposit and withdrawal, including the much-disputed Tether (USDT). The leading crypto ATM operator in Canada will add a total of seven stablecoins to its devices.
ATM Selection Covers Most Major Stablecoins
The selection goes beyond USDT, which is the most liquid and widely used asset. Among dollar-pegged coins backed by assets in a bank, the devices will offer USDCoin (USDC), TrueUSD (TUSD), Paxos (PAX), and Gemini Dollar (GUSD).
The algorithmic stablecoin DAI will be available both as single-collateral and multi-collateral versions. Stablecoins offer a hedge against price fluctuations, as well as a cheaper way to send and receive the assets.
The ATMs, which are essentially offer fast brokerage services, offers a new level of anonymity to buyers. Currently, the ATMs allow purchases and sales of up to 10,000 CAD per day, so far without identification. When it comes to KYC, this access point may surpass the limits of some exchanges, which may require ID…