Despite the uncertainty that has trailed crypto-currency trading in Africa, its popularity has not waned at all. Infact many countries are revising their stance against it.
Kenya has launched its first Bitcoin ATM in Nairobi, dispensing Litecoin and Bitcoin in exchange for cash. The ATM was developed by Kenyan startup, BitClub.
BitClub is a crypto-currency startup that lets a user buy Bitcoin and Litecoin starting for as low as $5. BitClub’s ATM accepts both US dollars and Kenyan shillings. The ATM is believed to be popular with young people, and gets 15 to 20 visits a day already. BitClub also has plans to add M-Pesa to the payment options and is reportedly already in talks with Safaricom. It was reported earlier this year that Kenya has one of the largest crypto-currency holdings.
Kenya, isn’t the only country opening its doors to crypto. The Kenyan ATM is actually the fourth ATM for Bitcoin in Africa after Djibouti, Zimbabwe and South Africa, which, last month, launched its own first Bitcoin ATM in Johannesburg. The ATM in Zimbabwe was developed by Golix, a crypto-currency exchange startup, and they’re extending their reach to South Africa as well.
According to Coin ATM Radar, there are an estimated 3041 crypto-currency ATMs in the world, so they’re undeniably a great innovation. Not only does having an ATM make virtual currency accessible to the average man but it allows for those who’ve been apprehensive about trying out crypto-currencies to dip their toes in.
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