Namibia, a Southern African country has launched its first Bitcoin ATM in the country bringing crypto adoption to the Southern part of the country. This adds to the increasing number of crypto atm in the Southern part of Africa.
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According to a report by AllAfrica, the crypto ATM, dubbed the Crypto Kiosk, was launched at Maerua Mall in Windhoek, Namibia.
With the newly launched Crypto Kiosk, Namibian residents will be able to convert the two world’s largest cryptocurrencies – Bitcoin and Ethereum to the Namibian Dollar.
Also, the crypto ATM users can purchase the two digital assets using the country’s fiat, per the report.
According to Aminah Nauyoma-Ndeulita, a representative from Crypto Kiosk Investment:
“Our kiosks allow them to essentially self-bank through the digital wallet on their phone by turning their cash into cryptocurrency, which can be used to transfer money internationally, pay bills, or invest in other cryptocurrency investment channels. We are optimistic that our company will bring user-friendly and convenient services to more people across the country as we grow and establish more crypto kiosks nationwide.”
How Namibia Crypto ATM Works:
Users will need to open a digital currency wallet before using the Crypto Kiosk. Some of the known supported crypto wallets include Coinbase, Exodus, Binance wallet.
The report states that the Namibia Crypto ATM is developed in full compliance with international and national laws to prevent all forms of financial fraud.
All users provide certain personal information like Namibian ID Numbers and postal addresses in order to use the Namibia crypto atm.
Also, users’ selfies will be taken by the machine during every transaction, all as part of the measures to curtain forms of criminal acts.
Transactions above N$5,000 will be required to submit details of their residential address and a copy of their identity document.
Aminah Nauyoma-Ndeulita said Crypto Kiosk Investments had installed CCTV at the location for security and safety purposes:
What You Need to Know:
Whenever you visit the Crypto Kiosk and you need assistance, you can call the customer care centre on a mobile number provided on the machine, and we will gladly assist you at any time 24/7.
There is a limited number of ATM in Africa. The country with the highest crypto ATM installation is South Africa, with 18. Other notable African countries with crypto ATMs are Nigeria(2), Uganda(1), Ghana(1), Kenya(1), Zimbabwe(1) and the newly installed Namibia.