Bitcoin ATM Machine in Nigeria. - page 3.

basyang

full member

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Quote from: Kaizam on August 05, 2018, 03:00:07 PM

Bitcoin is a digital currency that is decentralized with no regulatory control. Over the years a number of Bitcoin ATM boot have sprang up in some developed and emerging economies. Since bitcoin is a digital currency I don't understand the rationale behind the creation of bitcoin ATM with so many crypto exchanges around the globe.
Now which organisation is responsible for the setup of this ATM machine? What is the benefits of having a bitcoin ATM in Nigeria?

Wow. Its good to hear but there is also a negative effect of it in the society. ATM machine is anywhere, we can see it in every banks corner. Its my first time to heard about negiria's bitcoin ATM. It means the crypto there is fully accepted. Many people are still curious about this thing because there is many questions in our mind but we could not also know how to answer.

HadaMichiko

newbie

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is the ATM machine safety? in my country they don't use bitcoin like that. they just buy things in the website or face to face

chidrawarster

full member

Activity: 406

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Such news are a boon to Nigeria and the transformation from underdeveloping to developing countries tag needs a lot of efforts to be done on the ground.I still believe btc will be a boon in developing the economy and also their blockchain technology would help them in developing in many sectors. I strongly believe that Nigeria also will see such many more ATM in the future to make the conversion process fast and make cash easy for people so that they can have their survival.

klien_br

sr. member

Activity: 401

Merit: 254

So bitcoin ATM's are really spreading much rapidly.
I remember at the starting there were few bitcoin ATM's in the whole world and they are really increasing day by day. This is a good sign and hope that nigeria increases there support for bitcoins after launching their bitcoin ATM.
I am actually waitig for my country to start such ATM soon.

KirunBarber

full member

Activity: 567

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for the existing bitcoin ATMs, I think this belongs to a group, they have organizations and even projects. the responsibility for the responsibility already exists on the project. just like the website exchanger, there are teams that work there. for benefits I think to facilitate transactions to their real money.

AlexAtom

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Quote from: Kaizam on August 05, 2018, 03:00:07 PM

Bitcoin is a digital currency that is decentralized with no regulatory control. Over the years a number of Bitcoin ATM boot have sprang up in some developed and emerging economies. Since bitcoin is a digital currency I don't understand the rationale behind the creation of bitcoin ATM with so many crypto exchanges around the globe.
Now which organisation is responsible for the setup of this ATM machine? What is the benefits of having a bitcoin ATM in Nigeria?

Having bitcoin ATM will benefits the bitcoin and the holders of bitcoin of course, because they can use bitcoin more easily.
Bitcoin ATM will create some public awareness too, peoples will see the ATM and they will ask how to use that.

pixie85

hero member

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Quote from: jpnl0005 on September 30, 2018, 02:00:36 PM

I find this very hard to believe that there are bitcoin atm in nigeria and this is my reason that country is underdeveloped and the technology system has no such upgrade to handle such much more time will be needed for that to function properly in that country

Because there is none. If you google it there are no active ATMs in Nigeria at the moment. There are ways to exchange Bitcoin but still no ATMs.
https://coinatmradar.com/country/156/bitcoin-atm-nigeria/

If I was a merchant there i'd be afraid to invest 10000 USD in a machine that can be stolen the next day by some gang. Nigeria is not the safest place if you're wealthy or want to start a business.

jpnl0005

jr. member

Activity: 448

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I find this very hard to believe that there are bitcoin atm in nigeria and this is my reason that country is underdeveloped and the technology system has no such upgrade to handle such much more time will be needed for that to function properly in that country

WhiteGAN

newbie

Activity: 34

Merit: 0

If people can withdraw money equivalent to Naira's money from these machines, that would be great, plus Nigeria is certainly encouraged as more and more people from this region continue to enter the market. Encoding every day. I think this is more for promoting and creating awareness about bitcoin rather than focusing on its actual use.

bolbau

full member

Activity: 574

Merit: 102

i dont think bitcoin atm machine is really needed, especially for third world country like Nigerian. because theres not enough people that really interested and want to join this kind of industry. in addition, the use of atm machines is very contrary to the digital currency concept itself, which functions for ease of transactions, not the same as conventional concepts that require people to come to a place. but if indeed bitcoin atm machine is able to be made in Nigeria, this is good news for the cryptocurrency community.

bright4mech

member

Activity: 588

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Bitcoin is a crypto currency and also the king of All alt-coin in the world, therefore in creation of ATM Machine installation here in Nigeria, i bitcoin usage is more preferred, because the value and potential, which is has more popular usage than any other alt-coin.

Thundermike

newbie

Activity: 43

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ATMs also act as a cryptographic campaign, and the public will better understand cryptography through ATM, as ATM uses the same method as ATM Bank. As a result, bitcoin ATMs are being set up to prevent long delays and breakdowns at the trading floor. Meaning is simple advertising and commission. So an ATM for BTC will be fine; a friendly development.

SinSoul313

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omone1

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Nigeria is an emerging economic, although the current Central Bank governor of the country thinks Cryptocurrency is a gamble. Now, having bitcoin ATM machines in Nigeria will help potential investors build confidence in the country and think to say "this think is not gambling, otherwise ATM wouldn't have been provided for it". You know it's good if you one can easily use the ATM to convert from bitcoin to fiat.

Betty10

newbie

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Having a bitcoin ATM in Nigeria can help motivate people interest about bitcoin thereby causing them to try to find out how the innovation works. It will help the economy too. Africa really need to act fast in bitcoin adoption.

Kakmakr

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Quote from: Kaizam on August 05, 2018, 03:00:07 PM

Bitcoin is a digital currency that is decentralized with no regulatory control. Over the years a number of Bitcoin ATM boot have sprang up in some developed and emerging economies. Since bitcoin is a digital currency I don't understand the rationale behind the creation of bitcoin ATM with so many crypto exchanges around the globe.
Now which organisation is responsible for the setup of this ATM machine? What is the benefits of having a bitcoin ATM in Nigeria?

A Bitcoin ATM is all about convenience and making it easier for the average person to get access to bitcoins. Let's imagine a situation where you run out of bitcoins, while you are shopping and you quickly want to buy some coins, without having to access a computer and a exchange or buying from some shady person in a back alley. Roll Eyes

You can just walk up to this Bitcoin ATM in a public space and insert some cash and get some bitcoins. Safer and easier than having to search for a internet connection and access to your exchange and your Bank account. Roll Eyes

billy4u

newbie

Activity: 92

Merit: 0

If this is true, then it is a step in the right direction. Most people believe more in physical things they see around. The fight against bitcoin by Fiat currency needs these innovations to counter them. Even if the Bitcoin ATM machine does not serve its purpose entirely, the publicity and advertisement it will give alone will achieve something special for bitcoin

poldanmig

sr. member

Activity: 1372

Merit: 275

Quote from: Kaizam on August 05, 2018, 03:00:07 PM

Bitcoin is a digital currency that is decentralized with no regulatory control. Over the years a number of Bitcoin ATM boot have sprang up in some developed and emerging economies. Since bitcoin is a digital currency I don't understand the rationale behind the creation of bitcoin ATM with so many crypto exchanges around the globe.
Now which organisation is responsible for the setup of this ATM machine? What is the benefits of having a bitcoin ATM in Nigeria?

maybe with the making of the machine makes it easier for the transaction process and the possibility of a time when bitcoin can be accepted by all countries as a currency that can be used for transactions then the ATM machine will be created a lot

Kocret02

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I think this is the best step to promote bitcoin in Africa, because I am sure that with the presence of atm in Nigeria it can definitely make bitcoin develop in that country.

hometester

sr. member

Activity: 423

Merit: 250

for any technology the main task is liquidity. in this case, I see this news as excellent

Topic: Bitcoin ATM Machine in Nigeria. - page 3. (Read 725 times)