Blockstale BTM Installs Bitcoin ATM in Nigeria

• 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.