Africa's largest country welcomed its first Bitcoin ATM.
Blockstale BTM, the company that installed the ATM in Dazey Lounge and Bar in Lagos, plans to launch more than 30 more terminals throughout Nigeria.
"Despite all the legal uncertainty about the crypto in Nigeria, the Nigerians are proving to be the highest crypto traders in Africa," said April 1, the head and founder of Blockstale, Daniel Adekunle, in local media.
Adekunle developed its Bitcoin ATMs in cooperation with a technology company based in Shenzhen, China.
Although Nigeria is the country with the highest volume of trade in Africa, it is the eighth country on the continent where the Bitcoin ATM is located, and Blockstale's is the 15th in Africa.
According to CoinATMRadar, there are seven cryptographic ATMs in South Africa, two in Ghana and Botswana, Djibouti, Kenya, Uganda and Zimbabwe each has one terminal.
As Nigeria is the largest economy and the largest population in Africa, the country's first Bitcoin ATM can be a signpost for wider use across the continent. Coinstale's terminal is only the second Bitcoin ATM in West Africa.
