Monday, 9 March 2020

Nigeria Gets Bitcoin ATM!

Other cash for crypto options are gaining ground too. Nigeria now has at least one operational Bitcoin ATM. For various reasons, including security concerns, there’s only a couple of dozen teller devices supporting cryptocurrencies in the whole of Africa, the Coinatmradar map shows. According to local media reports, Nigeria got its first BATM only this year. The device was deployed in Dazey Lounge & Bar in Lagos in early January by a local company called Blockstale. The ATM has been manufactured in China but has an “Africa-focused design,” which takes into account the safety problem in the country, featuring an alarm system, a remote tracker and bio scanners to make it theft and vandal-proof, as the Weetracker news outlet reported.

Nigeria’s commercial capital Lagos now has a Bitcoin ATM. More devices have been imported by Blockstale CEO Daniel Adekunle and will be deployed soon.Speaking to, Chief Executive Daniel Adekunle revealed that Blockstale is gearing up to install more cryptocurrency ATMs across Nigeria and in neighboring countries. The company has already delivered five more machines that will be deployed in Lagos by the end of the month and will then move on to Abuja towards the next quarter. These are two-way devices supporting both purchases and sales of BTC for the moment, but more currencies will be added later. Blockstale is also considering the introduction of a mobile top-up feature allowing users to reload their prepaid mobile phones using crypto. “Nigerians have trust issues, meaning we prefer to have direct interactions because we believe that this is safe, secure and best practice to avoid loss of funds,”

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