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Over 100 New Bitcoin ATMs Going Live Across 24 US States

March 18, 2021
Bitcoin ATMs

In a move many claim is suggestive of the general acceptance of Bitcoin as mode of transaction, the Atlanta-based Bitcoin Depot is launching more than 100 new bitcoin (BTC, +4.22%) ATMs in the U.S saying that it has doubled the number of its crypto kiosks in the last six months.

In a press release Wednesday, the company said it is launching 115 kiosks across 24 U.S. states including 14 in Alabama, 13 in Minnesota, 12 in Florida and 12 in California in coming weeks.

Bitcoin ATMs
Bitcoin ATMs

Bitcoin Depot said it has doubled its number of crypto ATMs in the last six months and now has 2,000 ATMs globally. Users can buy bitcoin, litecoin (LTC, +1.14%) and ethereum (ETH, +1.53%) via the firm’s kiosks.

Read also:The African Millennial Population Can’t Get Enough of Bitcoin

“Cryptocurrency offers a lot of opportunities for people [who] don’t have access to traditional financial services, like banks,” said the fim’s president and CEO, Brandon Mintz.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Nigeria Welcome Deployment of Bitcoin ATMs

April 4, 2020

Nigeria has become the eight country in Africa to welcome the deployment of Bitcoin ATM machines. This commenced with the installation of the Blockstale BTM which was installed at the Dazey Lounge and Bar in Lagos with plan to deploy about 30 more terminals across the country. Speaking on this development, Blocksale’s CEO Daniel Adekunle said that “despite all the legal uncertainties about cryptocurrencies in Nigeria, Nigerians happen to be the highest crypto traders in Africa.” Adekunle who developed his Bitcoin ATMs in partnership with a tech firm based in Shenzhen, China noted that it will be generally welcomed across Nigeria. The Bitcoin ATM in Lagos is Africa’s 15th Bitcoin ATM.

Blocksale’s CEO Daniel Adekunle
Blocksale’s CEO Daniel Adekunle

Analysts say that Nigeria was late in deploying Bitcoin ATM because it is home to the largest trade volume in Africa but is the eighth country in the continent to host a Bitcoin ATM — with Blockstale’s comprising the 15th in Africa. According to CoinATMRadar, South Africa is home to seven crypto ATMs, Ghana hosts two, and Botswana, Djibouti, Kenya, Uganda and Zimbabwe each have a single terminal.

Read also:GTBank Prepares for Emerging Fintech Disruption

With Nigeria comprising Africa’s largest economy and population, the country’s first Bitcoin ATM may be a signpost for broader adoption across the continent. Coinstale’s terminal is only the second Bitcoin ATM in West Africa.

Read also:Egypt’s Fintech Startup Khazna Secures Seed Funding From VC Algebra Ventures

In a separate development, recent weeks have seen roughly 220 Bitcoins, or $1.38 million worth, of peer-to-peer (P2P) trade between BTC and Nigerian Naira on LocalBitcoins. However, Nigerian LocalBitcoins has dropped by roughly 50% since the P2P platform strengthened its KYC requirements during September 2019. Nigeria also consistently tops Google searches for ‘Bitcoin’ — driving nearly twice the traffic as the second-ranked country, Austria, according to Google Trends. Three of the top five ranked nations for ‘Bitcoin’ searches are African — with South Africa and Ghana ranking third and fifth respectively.

 

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

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