Blockstale BTM, has launched its first Bitcoin Automated teller Machine (ATM) in one of Africa’s most populous country, Nigeria.
The company, which has installed the ATM at the Dazey Lounge and Bar in Lagos State also plans to launch an additional 30 more terminals across Nigeria.
Nigeria, although being home to the largest trade volume in the continent, is the eighth country in Africa to install Bitcoin ATM, with Blockstale’s ATM assuming the 15th place in Africa.
In an interview, on April 1, entertained by Blockstale’s Chief Executive and founder, Daniel Adekunle, he said, “Despite all the legal uncertainties about cryptocurrencies in Nigeria, Nigerians happen to be the highest crypto traders in Africa,”
Based on information from CoinATMRadar, South Africa houses seven crypto ATMs, Ghana hosts two, and Botswana, Djibouti, Kenya, Uganda and Zimbabwe each have a single terminal.
The introduction of Bitcoin ATM in Nigeria promises to spur wider acceptance of the currency across the African Continent as Nigeria makes up Africa’s largest economy and population.
According to Google Trends and on an international scene, Nigeria has also consistently topped Google searches for ‘Bitcoin’, driving nearly twice the traffic as the second-ranked country, Austria.
Africancountries rank top three among the five (5) nations ranked for ‘Bitcoin’ searches. While South Africa ranks third, Ghana ranks fifth.