Nigeria Joins Seven Other African Countries To Host Bitcoin ATMs

LAGOS APRIL 4TH (NEWSRANGERS)-Nigeria – one of the largest nation across the African continent – has reportedly authorized the arrival of the first Bitcoin ATM to the region. 

Specifically, Blockstale BTM – the firm that was in charge of finalizing the installing process of the ATM located in the Dazey Lounge and Bar in Lagos state – is reportedly set to establish over 30 more Bitcoin ATM joints throughout Nigeria. 

“Despite all the legal uncertainties about cryptocurrencies in Nigeria, Nigerians happen to be the highest crypto traders in Africa,” Daniel Adekunle – founder and current CEO of Blockstale – reported remarked. 

Adekunle has formed a collaboration with a tech company from Shenzhen, China to jointly work on the Bitcoin ATMs. 

Although the trading volume recording across Nigeria ranks #1 throughout the African continent, the nation is only the 8th one to establish a Bitcoin ATM – with previous 7 hosted in South Africa, 2 in Ghana, and Botswana, Djibouti, Kenya, Uganda and Zimbabwe each hosts 1.

Nigeria – with its current stance as the biggest economy and population scene of the continent, this initiative for the first Bitcoin ATM may be a sign for an increased adoption rate throughout the rest of the countries in Africa.

Nigeria also comes first, in a consistent pattern, regarding the top Google searches for the “Bitcoin” keyword – almost doubling in driven traffic compared to the country ranks in 2nd – Austria, as reported by Google Trends.

The Crytosight

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Posted by on Apr 4 2020. Filed under Business, National. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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