Bitcoin is a digital currency that is decentralized with no regulatory control. Over the years a number of Bitcoin ATM boot have sprang up in some developed and emerging economies. Since bitcoin is a digital currency I don't understand the rationale behind the creation of bitcoin ATM with so many crypto exchanges around the globe.
Now which organisation is responsible for the setup of this ATM machine? What is the benefits of having a bitcoin ATM in Nigeria?
Having a bitcoin ATM machine In any country is definitely a step and great opportunity for cryptocurrency investors to convert their coins/tokens to fiat easily. The last I know of Nigeria is that, the government over there is yet to give to an approval to cryptocurrency. This would have made it easy for banks In that country to invest in Bitcoin ATM, banks can be in charge and make profits from it.
Reports have it that huge money are being exchange in Nigerians local exchange, with bitcoin ATM, there will be less scam and easy of conversion.