Currently over 4,000 Bitcoin ATMs exist across the globe with majority of them found mostly in the United States. However, Africa is also not left out as with a handful of Bitcoin ATMs. Here are the complete list of places in Africa where you can buy bitcoin with fiat currency using a Bitcoin ATM.
What Are Bitcoin ATMs?
Bitcoin ATMs exist somehow differently from bank account. It operates like traditional cash machines, the difference here is instead of cashing out money from your bank account, you can buy and sometimes sell bitcoin against local fiat currency.
In Vancouver, 2013, Canada received the world’s first Bitcoin ATM in the Waves Coffee Shop. Followed by the United States were ATM was introduced at a cigar bar in New Mexico. Two months later as well, in Washington, another one that came with a money transmitter license was installed by Coinme.
Bitcoin market had increased hence forth as ATMs started to grow steadily. Today, North America leads the pack With 71.9 percent of Bitcoin ATMs, America leads the rest. This is followed by Europe with 23 percent and Asia with 2.3 percent while a minor rate of 1.3 and 0.1 percent goes to Australia and Africa respectively.
Bitcoin ATMs in Africa
Currently a total of nine reported Bitcoin ATMs exist in Africa.
South Africa, as a leader in bitcoin adoption in Africa, has five cryptocurrency ATMs that are situated in Johannesburg, Pretoria, Nelspruitand Cape Town. A minimum to a maximum of 100 to 1 Million South African rands (ZAR) can possibly be dispensed on average from the ATMs with identity verification if one is buying more than 5,000 rands.
We need to note that none of these ATMs dispenses cash as they operate only fiat-to-crypto. Another issue that might discourage people is high fees ranging from 8 to 14% associated with using the ATMs.
In Nairobi the country’s capital, Kenya receives its first Bitcoin ATM. Operated by the BitClub Network with a minimum of 500 Kenyan Shillings worth of bitcoin and litecoin can being purchased using the Atm machine. it is also a fiat-to-crypto ATM only.
The Kampala Post Office hosts which is run by KIPYA Bit2Big, a local Blockchain company runs Uganda’s only Bitcoin ATM situated at Kampala Post office. Ugandans can use the ATM to buy bitcoin, bitcoin cash and ether.
Golix, The first ever cryptocurrency exchange in Zimbabwe known as Golix and also one of the biggest in Africa, runs a Bitcoin ATM too.
The ATM is cited in the Golix offices in Harare, it allows buying and selling of bitcoin, bitcoin cash, and litecoin. The ATM providing all the essential services need in a cash trapped society.
Surprisingly, Djibouti play home a Bitcoin ATM. It is located at Appart Hôtel Moulk. Currently the only Bitcoin ATM in the small East African. Interestingly, the ATM’s operator, The ‘Group DOS’, plans to introduce two more Bitcoin ATMs in Djibouti. Eleyeh Issa, the ‘Group DOS’ told BitcoinAfrica.io that two new Bitcoin ATMs will be set up at the airport and one at a shopping mall during the coming weeks.
Bitcoin ATMs which tend to come with high fees makes them less appealing purchase option for larger investors, that not withstanding, they do help to push adoption especially among smaller investors/ Startups.
CREDITS: Wikipedia, Amos cit.JOIN OUR COMMUNITY