Blockstale BTM, a Nigerian blockchain startup, based in Lagos has installed the first bitcoin ATM machine in Africa as it plans to install over 30 of such machines across the country.
The Blockstale bitcoin ATM is located at Dazey Lounge and Bar, Ajah, Lagos and allows users to buy bitcoin with the Nigerian Naira.
Commenting on the achievement, Founder and CEO of Blockstale, Daniel Adekunle said “Despite all the legal uncertainties about cryptocurrencies in Nigeria, Nigerians happen to be the highest crypto traders in Africa. Blockstale BTM was developed especially to facilitate adoption, transparency, and security in Nigeria.”
Bitcoin ATMs are new to Africa as there are currently only 15 on the continent. Before the new ATM in Lagos, there was 14 spread across seven countries. 7 in South Africa, 2 in Ghana and 1 in Kenya, Botswana, Zimbabwe, Djibouti, and Uganda.
