There are as of now more than 4,000 Bitcoin ATMs over the globe. Most of them are found in the United States. Africa, in any case, is additionally home to a bunch of Bitcoin ATMs. Right now, will find the total rundown of spots in Africa where you can purchase bitcoin with fiat cash utilizing a Bitcoin ATM.
What Are Bitcoin ATMs?
Bitcoin ATMs work like customary money machines with the distinction being that as opposed to changing out cash from your ledger, you can purchase and, sometimes, sell bitcoin against neighborhood fiat money.
In 2013, Canada received the world’s first Bitcoin ATM in the Waves Coffee Shop in Vancouver. Then, the following year, the first machine in the United States was introduced at a cigar bar in New Mexico. Two months later, Coinme installed another one in Washington that came with a money transmitter license. Since then, the market for Bitcoin ATMs started to steadily grow.
Today, North America leads the pack with 71.9 percent of Bitcoin ATMs, followed by Europe with 23 percent and Asia with 2.3 percent while Australia and Africa have a meagre 1.3 and 0.1 percent respectively.
Bitcoin ATMs in Africa
In total, there are currently nine reported Bitcoin ATMs in Africa.
South Africa, as a leader in bitcoin adoption, is home to five cryptocurrency ATMs that are situated in Johannesburg, Pretoria, Nelspruit and Cape Town. On Average, these ATMs can dispense between a minimum to a maximum of 100 to 1 Million South African rands (ZAR). Most ATMs require identity verification if you are buying more than 5,000 rands.
Nonetheless, none of these ATMs dispenses cash as they operate only fiat-to-crypto. One bottleneck that might discourage people from using the ATMs is high fees ranging from 8 to 14 percent.
Kenya received its first Bitcoin ATM last year in the country’s capital, Nairobi. Operated by the BitClub Network, it is also a fiat-to-crypto only ATM and a minimum of 500 Kenyan Shillings worth of bitcoin and litecoin can be purchased using the machine.
Golix, the first ever cryptocurrency exchange in Zimbabwe and one of the biggest in Africa, also runs a Bitcoin ATM.
Based in the Golix offices in Harare, this machine provides an essential service in a cash-strapped country since it allows buying and selling of bitcoin, bitcoin cash, and litecoin.
Somewhat surprisingly, there is also a Bitcoin ATM in Djibouti. The currently only Bitcoin ATM in the small East African country is located at Appart Hôtel Moulk.
Interestingly, the ATM’s operator, Group DOS, plans to introduce two more Bitcoin ATMs in Djibouti. Group DOS CEO, Eleyeh Issa, told BitcoinAfrica.io that two new Bitcoin ATMs will be set up in the coming weeks, one at the airport and one at a shopping mall.
While Bitcoin ATMs tend to come with high fees, which makes them less appealing purchase option for larger investors, they do help to push adoption among smaller investors who want to get started with their first bitcoin investment.