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First Crypto currency ATM installed in Nigeria (Africa)
Yes!!! You read it right. We have always traded fiat currencies with crypto currencies via peer to peer trading system or via an exchange platform and sometimes these deals are usually not fair or you stand the risk of been defrauded of your money or cryptos. **Nigeria gets its first Bitcoin ATM in Lagos as Blockstale begins plans to install over 30 Bitcoin ATMs across the country.** Bitcoin ATMs have increased in popularity around the world due to the need for more options to buy and sell bitcoin. Until now, Nigeria, one of the biggest cryptocurrency markets in Africa, has not had any Bitcoin ATMs installed. The first Bitcoin ATM in Lagos was installed by Blockstale, a new Bitcoin ATM startup in Nigeria. The Bitcoin ATM in Lagos is located at Dazey Lounge and Bar, Ajah, Lagos State, and allows users to buy bitcoin with the Nigerian Naira. Source : https://blocknewsafrica.com/first-nigerian-bitcoin-atm/ When this wonderful news got to myself and my friends. We knew the bright future we predicted for crypto currency and its global adoption is almost upon us. How does this Crypto Atm looks like and How does it operate?
To get a sneak peak on how it works and how transactions are carried out on this beautiful technology. You might want to take a look at this video. https://youtu.be/du2v8JjFQdk What does this mean for prospective investors in Bitcoin cash and crypto in general? This gives investors in africa more confidence in crypto currency due to the legal uncertainties that has undermine the trust and adoption of crypto. This new found confidence would mean more activities in the crypto space in the coming months and could futher increase the price of cryptos. However, the number of Nigerians on LocalBitcoins has dropped by about 50% since the peer to peer platform strengthened its *know your customer requirements* around September 2019. **Goodnews** is that bitcoin can be bought via the atm without the need of the "know your customer requirements". This eliminates the need to provide any means of identification before any transaction can be done as you have watched in the video above. *As at the time of writing this i have not had the priviledge to carry out a transaction on the bitcoin atm but when i do i will be sure to update this and give you guys statistics on daily transaction limit and confirmation period into individual wallets.* The future of crypto is bright. Spread the good news. Cheers.
14 comments
Wow this is wonderful. Such an amazing news. I hope it gets installed in Enugu state though. So we can also make use of it
You are from Nigeria?...wow nice to meet you.
Yeah 😁😁 Am a Nigerian. Thanks you
This is great news for all Nigrerians. I have also heard about inksnation pinkion bringing similar atm to Nigeria
Really, I am hearing this for the first time.
Are you a Nigerian and haven't heard about inksnation first Nigreria crypto currency? Inksnation is a decentralized blockchain that increases based on human accet, that is the more people join the blockchain as living nodes the more the coins keep increasing. It's exchange take off is due for August 12th this year. The project has been ongoing for over a year now
You mis interpreted my reply. I know about Inksnation but just hearing that they brought similar atm to Nigeria.
Alright, are you into the project?
No i am not.
I feel so happy for Nigeria, this is really a good news for the country, just look how easy it is.
Thank you for this information. Did you use the ATM yourself, what was your experience and do you see it staying longer?
I have not used those ATMs so it will be too early to comment. My experience while using any of them and the possibility of their long term existence will form the basis for my comment later.
Wow. This is really good news. I hope soon we see more of these around the world specially in gulf countries. Thanks for the share
This is a good initiative for promoting the awareness of cryptocurrencies in Nigeria. Have you used the ATM and what was your experience with it?