Lagos Nigeria gets its 1st Bitcoin ATM

posted about 1 month ago
Lagos Nigeria just got its first Bitcoin ATM. The machines were made in Shenzen, China and shipped to Nigeria, after a lengthy firmware development process, according to the machine’s creator, CEO and founder of Blockstale, based in Lagos, Daniel Adekunle Omoshola.

Despite Bitcoin's popularity in Nigeria, the lack of ATMs has reportedly made Bitcoin a challenge to fully utilize. The founder went on to say “We hope this great innovation structures our economy and opens more opportunities to our youths and other business owners.” The Nigerian machines do not accept credit or debit cards, they operate by scanning a QR code linked to a mobile Bitcoin wallet. Omoshola plans to expand and launch more Bitcoin ATMs in Lagos this year.
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