ATM is not that important they are everywhere. Look at Aella and Creditcoin offering microlending to the poor in Africa. Invested in by Coinbase and Y combiantor. This is the type of stuff that will change personal finance for africans.
I think it does. Maybe you think it is the general ATM machine you see around but this is a BTC atm so I think it will create more awareness especially in Nigeria where a lot of people are very much into using cryptocurrency. Having BTC atm makes it easy for merchants and offline stores to further boost their interest in accepting crypto as payment option 
Topic: The first BTC ATM in Nigeria (Read 585 times)
That was quite a good news because today the number of the user into the world of cryptocurrency want to make a more comfortable and faster withdrawal and by that kind of bitcoin atm makes the quicker and secured transaction and also they can now lessen the transaction fee because it is bitcoin and the government does not regulate on it. Still, we are looking forward to other countries that would like to start the adaptation of cryptocurrency but still, it is a long process before they agree with the use of crypto. But even as a country does want to make the more faster and innovative transactions, they would like for sure to adopt this kind of transaction.
ATM is not that important they are everywhere. Look at Aella and Creditcoin offering microlending to the poor in Africa. Invested in by Coinbase and Y combiantor. This is the type of stuff that will change personal finance for africans.
More and more countries put such machines, and if a year ago, for example, there were not many such countries, now countries such as Nigeria are already joining them.
I dont think that ATM adoption is very important in current situation
Not important if you don't appreciate small things that can contribute to bitcoin adoption. With this BTC ATM that's being installed in Nigeria, this is just the start and initiation of people who will get into it.It may take time for them to adopt it but the important part is that there's already one. Investors or entrepreneurs that have started this business sees the potential into the area and IIRC, Jack Dorsey eyes the continent of Africa to be a very good place to start for blockchain and crypto related businesses.
Crypto is going to completely revolutionize african conutries like Nigeria.
All the smart money knows this
For example look at creditcoin & Aella
invested in by coinbase and y combinator
providing financial services to nigerians
this is a huge untapped market with tons of growth potential and the smart moeny is already investing
All the smart money knows this
For example look at creditcoin & Aella
invested in by coinbase and y combinator
providing financial services to nigerians
this is a huge untapped market with tons of growth potential and the smart moeny is already investing
I dont think that ATM adoption is very important in current situation
How about the license and approval ? I thought those ATM are regulated by financial institution own by government. I will like to see how it works. Hopefully it get to the northern region soon.
Perhaps, that would become easy, as if your thought is correct regarding ATM's regulated by financial institution owned by their Government, there is surely a way to make this easy. But the question here is, if the government supports these bitcoin ATM, what is their thought about BTC being mainstream in their country, how about their fiats? Are they going to officially allow digital currencies such as crypto? Well, that is just a start of bitcoin and digital currencies revolutionizing each country. Soon, we can expect and see BTC atm in our country as the worlds moves towards it for making transactions even better.
African giant Nigeria has set up it's first Bitcoin automated teller machine in the country, citizens of Nigeria are famous for bitcoin trading and investment and they are top in that aspect in Africa. Though this is not the first BTC ATM in the continent(Africa)as countries like South Africa, Kenya, Ghana Botswana, Uganda, Djibouti and Zimbabwe all have bitcoin ATM's in their countries. Many parts of Africa still remains underdeveloped, due to bad government, but bitcoin and cryptocurrencies can help alleviate the condition and state of things over there for the individuals taking the opportunity.
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A Bitcoin startup in Nigeria, Blockstale BTM, has installed the very first Bitcoin Automated Teller Machine in Nigeria.
According to the startup, the ATM was installed at Dazey Lounge and Bar in Lagos and the company is planning to install at least 30 BTC ATMs across the nation.
Source of information: https://investorsking.com/blockstale-btm-installs-bitcoin-atm-in-nigeria/According to the startup, the ATM was installed at Dazey Lounge and Bar in Lagos and the company is planning to install at least 30 BTC ATMs across the nation.
If developing economies like Ghana, Botswana, Nigeria , Kenya could see the future of the block chain technology and its evolution that means alot to the cryptocurrency industry.
The adoption of cryptocurrency by these countries will lead to new set of job creations and development of new skill sets.
This will in the long run affect the price and value of bitcoin positively because more people will start using the coin for payment purpose.
That's a good news to the cryptocurrency network.
Africa is a very important region for cryptocurrencies. Many exchanges and projects that are already aware of this are working in that region. It is very nice that ATMs are put into service. Apart from this, a project that I know closely has established a bank partnership in Nigeria and Ghana and started to serve as crypto-FIAT-crypto. While people living in the region can pay with First Kudi, the first product of Ferrum Network, sellers can also withdraw their payments to their wallets with either crypto or FIAT.
I think there may be good breakthroughs for African economy development.
Besides, Ferrum Network is also about to launch their UniFyre wallet, which has a lot of interesting functions. I like the LINK DROP TECHNOLOGY -Send crypto as easily as a text feature. This makes things easier and avoids wallet address confusion. I think there may be good breakthroughs for African economy development.
ATM is important for African countries, and it is also a way of advertising
This is a great news for Nigerian users and the crypto environment in general. However, i doubt if it's the right good time to lunch it. All the world is in quarantine and ATMs are one of the best options for the corona to spread between many people without being able to identify the direct origine of infection. Isn't better for Negirian Gov to postponed the lunch and encourage people to use online crypto paiement?
I hope no one get infected after touching ATM keys. Online apps can do a better role during the actual world crisis.
It's also discussable how Nigerian gov find time to lunch new projects while all world countries are focusing in the fight against the virus spreadness.
I hope no one get infected after touching ATM keys. Online apps can do a better role during the actual world crisis.
It's also discussable how Nigerian gov find time to lunch new projects while all world countries are focusing in the fight against the virus spreadness.
I doubt if the automated teller machine is being lunch by the government because the last time i checked, Nigerian government doesn't legalise the activity of cryptocurrency investments in as much as there's isn't an official ban over cryptocurrency related activities. Since the rampant of ponzi platforms in 2016, the Nigerian government has stayed off any online related investment option and would you blame them? After so much scam we've seen in ponzi schemes, HYIPs investments as well as cryptocurrency ICOs it self. However, i hope government regulations will stay off the operation of the bitcoin ATM in the country
Nigeria is a developing country,
Yes of course, like any other country in Africa.
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I searched a little about Nigeria on Google but didn't find anything interesting
Frankly speaking, you have to research the Google again and ask more about the Giant of Africa(Nigeria) in terms of digital currency. Remember, garbage in, garbage out, that's what Google is, so, ensure to ask rightly and you will get the needed answers to your questions.
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and there are still many people who don't know that country
Well, speak for yourself comrade, though you can ask my brothers why they love to visit the Black Nation(Nigeria) often. If you are listening to the recent WHO on covid-19 news then you will get more exposure to what extent the Nigeria country has gone so far.
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I'm not sure Bitcoin will succeed there, even though there is already a Bitcoin ATM
Kindly ask Binance and remitano about Nigeria in terms of Bitcoin and cryptocurrency in general, they will feed you with the needed information. Nigeria is well known to be a country of Bitcoin and cryptocurrencies. We the youths have already taken the opportunities.
This is a great news for Nigerian users and the crypto environment in general. However, i doubt if it's the right good time to lunch it. All the world is in quarantine and ATMs are one of the best options for the corona to spread between many people without being able to identify the direct origine of infection. Isn't better for Negirian Gov to postponed the lunch and encourage people to use online crypto paiement?
I hope no one get infected after touching ATM keys. Online apps can do a better role during the actual world crisis.
It's also discussable how Nigerian gov find time to lunch new projects while all world countries are focusing in the fight against the virus spreadness.
I hope no one get infected after touching ATM keys. Online apps can do a better role during the actual world crisis.
It's also discussable how Nigerian gov find time to lunch new projects while all world countries are focusing in the fight against the virus spreadness.
How about the license and approval ?
Actually, it is 11th year of Bitcoin now and there hasn't been any clear case of it regulations across the globe in regard to it ATM. But what I still remember is that, there are two level to Bitcoin license which are primary and the state level. The secrecy bank act (BSA) and the operators register with FINCEN.
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I thought those ATM are regulated by financial institution own by government. I will like to see how it works. Hopefully it get to the northern region soon.
Although, these laws and regulations are to curb the Money Laundering and other financial related crime from taken place. Also, a surety will be needed before allow for full operation. Don't worry, the ATM machine will be extended to the Northern parts, believe me, after Lagos next will be Abuja FCT.
Nigeria is a developing country, I searched a little about Nigeria on Google but didn't find anything interesting and there are still many people who don't know that country
I'm not sure Bitcoin will succeed there, even though there is already a Bitcoin ATM
hi buddy, why don't you make your posts be one, it looks like spam
I'm not sure Bitcoin will succeed there, even though there is already a Bitcoin ATM
How about the license and approval ? I thought those ATM are regulated by financial institution own by government. I will like to see how it works. Hopefully it get to the northern region soon.
Sorry,in which of the Nigeria. The NIgeria where Buhari is the president?
well, it's a good news if, so. Atiku did mention legalization of virtual currency in Nigeria if, he's elected as the president Unfortunately, he lost the election.
However, it will be great if, BUhari has same idea!
Thanks
Soldierwitlittlefaith
The last time I heard government making public address about crypto was during the ponzi scheme popularly called MMM. I could remember the CBN was warning everyone that they should stay away from it because it is unregulated. I do not think the government will regulate it neither will they ban itwell, it's a good news if, so. Atiku did mention legalization of virtual currency in Nigeria if, he's elected as the president Unfortunately, he lost the election.
However, it will be great if, BUhari has same idea!
Thanks
Soldierwitlittlefaith
Sorry,in which of the Nigeria.
The Nigeria you know, or do you know another?.
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The NIgeria where Buhari is the president?
Yes, or you have another President?
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well, it's a good news if, so. Atiku did mention legalization of virtual currency in Nigeria if, he's elected as the president Unfortunately, he lost the election.
Sure it is a good news for us. We should be careful with our politicians and not to be scam again. These politicians know how to get through us with their fictional plans for the country: they're all the same guymen. We should be happy that, it has come to saty and we're going to benefit from it.
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However, it will be great if, BUhari has same idea!
The President has nothing against Bitcoin even though they're not open to either negative to Bitcoin or not. Certainly, the government has seen how beneficial the technology is to our teeming youths.
Sorry,in which of the Nigeria. The NIgeria where Buhari is the president?
well, it's a good news if, so. Atiku did mention legalization of virtual currency in Nigeria if, he's elected as the president Unfortunately, he lost the election.
However, it will be great if, BUhari has same idea!
Thanks
Soldierwitlittlefaith
The last time I heard government making public address about crypto was during the ponzi scheme popularly called MMM. I could remember the CBN was warning everyone that they should stay away from it because it is unregulated. I do not think the government will regulate it neither will they ban it well, it's a good news if, so. Atiku did mention legalization of virtual currency in Nigeria if, he's elected as the president Unfortunately, he lost the election.
However, it will be great if, BUhari has same idea!
Thanks
Soldierwitlittlefaith
How about the license and approval ? I thought those ATM are regulated by financial institution own by government. I will like to see how it works. Hopefully it get to the northern region soon.
Most of the developing countries are ready for Taking the risk when we talk about the cryptocurrencies and this has made them stronger for the long run .
I do congratulate all the Nigerians because this is no small step with one ATM will come 100' other people who Will be interested in the crypto Currencies and soon enough it will be very helpful because it will generate more jobs and more opportunities for everyone alike .
Also I think it is the best way to shush the corruption and give people their free will .
I do congratulate all the Nigerians because this is no small step with one ATM will come 100' other people who Will be interested in the crypto Currencies and soon enough it will be very helpful because it will generate more jobs and more opportunities for everyone alike .
Also I think it is the best way to shush the corruption and give people their free will .
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