Articles

Buying or Selling bitcoin and other crypto currencies using Bitcoin ATM in Nigeria 

by Adekunle Daniel Entrepreneur

In the last 5 years alone, cryptocurrencies such as Bitcoin, Ethereum, and smaller ones such as Litecoin have been turning heads. Cryptocurrencies gained a lot of popularity due to their anonymous nature when it comes to making transactions. This anonymity is possible thanks to a technology known as the blockchain. Blockchain uses both cryptography and complex mathematics to establish an anonymous record of where the currency is being spent/bought.


The record established by blockchain is accessible to the public and helps prevent fraud – ensuring that your investments are safe. Cryptocurrency is revolutionary thanks to blockchain’s ability to operate across borders, making it a globally decentralized currency. As long as you have internet access, you can take part in the buying/selling of cryptocurrency without exposing your identity.


But what if you wanted to exchange your physical cash assets into bitcoin? If you asked this question 10 years ago the answer might not have been so clear. However, thanks to companies like Blockstale, you can now exchange your cash assets into Bitcoins! 


Bringing Bitcoin to Nigeria: Blockstale’s Story:


The founder and CEO of Blockstale, Daniel Adekunle, noticed that there wasn’t any physical hardware in Africa to allow for bitcoin trading. Working closely with Chinese designers, Adekunle was able to develop and deploy the first Bitcoin ATM in Lagos, Nigeria in early 2020.

Adekunle has stated that he hopes “this great innovation structures our (Nigeria) economy and opens more opportunities to our youths and other business owners.”[Weetracker]


Using the Blockstale Bitcoin ATM in Nigeria:


If you live in Nigeria and you’re interested in the idea of trading bitcoin securely on an ATM, your best and only option is Blockstale. Blockstale’s ATM allows users to trade fiat currencies (in this case, Naira) for bitcoins. At the moment, these ATMs do not accept bank cards and only allow for the trading of Bitcoin.

As demand increases and requests for other coins are made, these ATMs will likely offer consumers the option of trading for other coins such as Litecoin. So, as long as you have naira to convert, you can cash out bitcoin instantly on an ATM.

 

Step by Step: How to use the BTM:


Buying:


  1. First, the user will want to make an internet search of nearby Blockstale BTM locations and possess a smartphone.
  2. Ensure that you have a wallet app on your phone to store cryptocurrencies or you print one at the ATM.
  3. Once you arrive at the machine, select the cryptocurrency you would like to trade and input the necessary amount of Naira.
  4. Once the transaction is completed, the bitcoin will be deposited into your wallet.

Selling:


  1. Follow the same steps from above from 1-2.
  2. Once at the machine, select the option to sell your cryptocurrencies.
  3. Select the desired amount and ATM prints QR instructions advising how to send the cryptocurrency into the machine and how to redeem for cash.
  4. Once the transaction is complete, the BTM will dispense the appropriate amount of cash to the user.

Using a BTM in Nigeria is easy, if you can operate your smartphone, you can operate Blockstale’s BTM!



Are my Transactions Secure when I Trade with Blockstale?


Nigerians and visitors alike can feel confident when trading through Blockstale’s BTM as it uses all appropriate blockchain technologies to keep its userbase safe. Should you run into any issues, you can contact Blockstale’s support team through their website. Blockstale support works around the clock to keep both users and machine owners happy.


I’m a Business Owner, how can I Install a Blockstale BTM at my Business?


If you’re interested in installing a Blockstale crypto teller machine of your own, all you need to do is visit blockstale! Blockstale is the best bitcoin ATM in Nigeria and their machine is likely to help bring more customers to your business. Think of it this way, if you operate the only BTM in your area, customers in the crypto niche that didn’t have a reason to come to your store beforehand, now have a good reason to frequent your business.

Blockstale machine owners can also monitor the performance of their machines confidently as Blockstale deploys a “remote-office”; this office allows owners access to a custom dashboard which provides the owner with a record of every transaction made on their machine.

To apply for a machine, simply visit Blockstale here and make an inquiry!


Conclusion:


If you live in Nigeria and want to buy/sell bitcoin for cash easily, give Blockstale’s BTMs a chance! Thanks to Blockstale, countries like Nigeria can stay ahead of the technological curve and provide their citizens with easy access to the cryptocurrency market.



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About Adekunle Daniel Junior   Entrepreneur

0 connections, 0 recommendations, 8 honor points.
Joined APSense since, March 14th, 2020, From lagos, Nigeria.

Created on Mar 14th 2020 06:43. Viewed 162 times.

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