Technology

Blockstale BTM Installs Bitcoin ATM in Nigeria

Bitcoin ATM - Investors King

  • Blockstale BTM Installs Bitcoin ATM in Nigeria

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.

The future of crypto market remains largely uncertain in Nigeria and across the world due to the lack of regulation that has rendered the market vulnerable to scammers and pump and dump criminals.

Still, Nigeria is the largest trader/investor of cryptocurrencies in Africa and the eight-country to host a BTC ATM in Africa.

“Despite all the legal uncertainties about cryptocurrencies in Nigeria, Nigerians happen to be the highest crypto traders in Africa,” said Blockstale’s chief executive and founder, Daniel Adekunle.

Nigeria has now joined South Africa which has seven BTC ATMs, Ghana two while Kenya, Uganda, Zimbabwe, Djibouti and Botswana a single BTC ATM each.
Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya
5 years ago

Recent Posts

Discordant Tunes Greet 50% Tariff Hike As Subscribers Threaten To Sue NCC

Nigerians have expressed displeasure over the decision of the Nigerian Communications Commission to increase tariffs…

15 hours ago

Beatrice Ekweremadu Returns to Nigeria After Serving Sentence in UK

Mrs. Beatrice Ekweremadu, wife of former Deputy Senate President Senator Ike Ekweremadu, has reportedly returned…

16 hours ago

Nigeria Expands Refining Capacity with MRO Energy’s Delta State Refinery

The Federal Government has taken another step toward boosting Nigeria’s refining capacity with the approval…

16 hours ago

Eko DisCo Set for Transformation as Transgrid Enerco Signs Historic 60% Acquisition Agreement

Transgrid Enerco Limited has signed a Share Purchase Agreement (SPA) to acquire a 60% equity…

17 hours ago

Metering Gap Exceeds 7 Million Despite Multilateral Loans and Government Funds

Despite interventions by the Federal Government and multilateral lenders amounting to over N1.5 trillion, Nigeria’s…

17 hours ago

Petrol Prices Surge to N990 in Abuja, N960 in Lagos as Oil Tops $80 Per Barrel

The Nigerian National Petroleum Company Limited (NNPC) has increased the pump price of petrol at…

18 hours ago