Topic: Bitcoin ATM Machine in Nigeria. - page 4. (Read 725 times)

Before Bringing the btc atm to Nigeria, first the technology has to be on place and also the necessary infrastructure required for that. We all know that this country is backward in terms of technology hence the forecast of technology should be intact before the blockchain technology is implemented and later on people can be made aware of crypto currencies and all. I suggest we all should support for this cause and make people aware everyday about the crypto space.

The latest news I've heard is that a lot of big cities in Europe have started to decorate these ATMs, and last month dozens of machines were installed in Switzerland. Although I don't know which organization is set up, with the expansion of the encrypted community, there will be more bitcoin ATM in some densely populated cities in Africa.

Bitcoin Automated Teller Machine (ATM) is a good development but I don't see it being sustained in the near future. The reason why its a big relief for the fiat economy is because the cost of going to the bank to queue in other to have access to your own funds, the cost of hiring more bank workers to attend to this customers, the cost of having to build larger structures, branches and security to cater for the customers, outweigh the cost of using the ATM machines but for bitcoin, all of these costs have been covered and reduced to a large extent.

I don't see anyone who wants to buy or sell bitcoin and ATM machines is the first choice considering the availability of several options. We have exchange sites that allow fiat deposits which can be done from the comfort of your room, you can visit peer to peer sites and get things done, you can also have group of traders in your locality that would make things more easier without even putting into consideration the premium that would be placed on buying and discount that would be placed on selling by the ATM operators.

In Africa, the larger question that remain unanswered is who will regulate the activities of this ATM and unless there is a backing by a reputable bank with the support of the Central Banks, its not coming anytime soon.

I think that there will be much more conviniency if a country legallizing bitcoin has an atm machine on it. This is great for the bitcoin enthusiast, as for nigeria it is good to them that they can withdraw their bitcoin as well.

I think this is more for promoting and creating awareness of bitcoin rather than focusing on the actual usage of it. Every country should really make their first step to show that they are supportive to crypto currency .

it makes perfect sense. It is easier for local people to purchase bitcoin for cash this way, rather than going online trying to buy on exchange for the currency that might not be acceptable, not speaking of KYC

If one can be able to cash out Naira equivalent of its coins from these machines, that will be great you know, plus Nigeria is definitely recommended for one because more and more people from this region keeps entering the crypto world each day. So an ATM machine for BTC will be well utilized; a welcoming development.

Having Bitcoin ATMs installed all round the globe isn't an issue but personnel's to act as support to any challenges while accessing the ATMs will be great as well. Nigeria as I was made to understand is doing great with the blockchain technologies, so having ATM isn't a bad idea.

there are a lot of such as, just not everyone can place on the card. it's not official. The sense is simple-advertising and Commission

the establishment of bitcoin ATM machine is not really a bad idea because some folks think that we should not really put the world into a cashless state but we can run them both at the same time. So bitcoin ATMs are being established to prevent the long standing hours and the trouble of having to sell at exchange.

The benefits of these ATMs are to make it easier to do bitcoin transactions when someone does not carry a cellphone and does not have an internet connection, the ATM also acts as a crypto use campaign, the general public will better understand crypto via the ATM, because the ATM usage method is almost the same as ATM Bank.

Having a bitcoin ATM machine In any country is definitely a step and great opportunity for cryptocurrency investors to convert their coins/tokens to fiat easily.  The last I know of Nigeria is that, the government over there is yet to give to an approval  to cryptocurrency.  This would have made it easy for banks In that country to invest in Bitcoin ATM, banks can be in charge and make profits from it.
Reports have it that huge money are being exchange in Nigerians local exchange, with bitcoin ATM, there will be less scam and easy of conversion.

Decision has a positive effect
But let's be realistic
Nigeria is a poor country and its digital currency market is small

We need such decisions in other countries

I see this development as very positive
Will promote awareness of the idea
And make it easier for cryptocurrency dealers there
Africa has a lot if it spreads awareness

looking at the economy of nigeria holistically, and with the low interest and information of bitcoin to nigerians, establishing an atm mechine for bitcoin wont be advisable for now. yes bitcoin will thrive in the nearest future, a lot still need to be done, publicity of bitcoin should be made utmost and maybe in the nearest future nigerians will embrace a bitcoin atm mechine.

Asides south Africa that looks a little improved in the use and exchange of bitcoin, all other countries in Africa are really struggling  due to low mass acceptability/ADOPTION and internet deprived access. ATM machine shouldnt be the next move to increase acceptability.

Well, I think it will give much convenient to Bitcoin users to have that ATM machine therefore they can easily get money thru this. As we can see, as of now there are a huge of people using btc so it can be a big help to them that bitcoin ATM is possibly anywhere.

Having bitcoin ATM's in Nigeria could be awesome and a step in the right direction for Africa as a whole. If acceptance for bitcoin and other cryptos is increasing expanding, having ATM to that effect would enhance transactions. Banks introduced ATM as a solution for queuing, hence having bitcoin ATM would also reduce traffic and increase awareness 

Bitcoins is seen as a luxury goods in developing economies like Nigeria and I don't think there will be a good demand for an ATM machine of bitcoins since the development of blockchain in Nigeria is in infancy stage.

bitcoin is suppose to make conversion of bitcoins to cash very easy and fast,slot it your cash and your get paid instantly.Exchanges will take time to process it and will still need to hit your account before you can withdraw to cash