Breaking New Ground South Africa Gets Its First Bitcoin Atm

Breaking New Ground South Africa Gets Its First Bitcoin Atm

South Africa whose citizens are increasingly interested in investing in trading in cryptocurrencies is to have its first functional Bitcoin automated teller machine ATM following up on Zimbabwe Djibouti.

Front-runner in cryptocurrency

The country has the most sophisticated financial services sector in Africa and has been the front-runner in cryptocurrency taxation on the continent this is in stark contrast to Zimbabwe which has banned banks form dealing in cryptocurrency payments. And transactions in 2004 South Africa got its first-ever Bitcoin ATM at Kolani and Johannesburg but reports say it was closed as there was no significant user interested.

Expands into Africa

It the latest attempt is by Northwoods spar whose general manager George neophyte is optimistic that the timing is just right now South Africa has also become a hub for digital ventures and innovators with Zimbabwe selects dot-com crypto exchange platform saying it will open a new office there as it expands into Africa neo phyto said it is all awfully exciting it will take away much the frustration of buying and selling cryptocurrency and hopefully help make crypto currencies mainstream.

Is the most popular virtual currency

According to a report there is an estimated 200,000 to 300,000 people in South Africa involved in crypto currencies as of the end of 2017 the new Bitcoin cash machine for South Africa will allow trade and purchases of crypto currencies such as Bitcoin, which is the most popular virtual currency CCN reported this week that about 47% of South Africans plan to invest in crypto currencies and cryptocurrency mining.

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Buying and selling cryptocurrency

According to those spearheading at the ATM will take away much of the frustration of buying and selling cryptocurrency and hopefully help make crypto currencies break through onto the mainstream as trade investment in payment options a website WWE M radar comm which tracks crypto ATMs across the world mentions to be…

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