Nigeria, the most populated country in Africa, has just become the eighth country on the continent to install Bitcoin ATMs on its territory.
Blockstale BTM plans to install over 30 ATMs across the country. Blockstale CEO and founder Daniel Adekunle said:
"Despite all the legal uncertainties about cryptocurrencies in Nigeria, Nigerians happen to be the highest crypto traders in Africa."
It is quite surprising that Bitcoin ATMs have taken so long to reach the country if we take into account that it is the country with the highest trading volume in Africa.
It must be noted that Blockstale has already installed 14 ATMs on the continent: 7 in South Africa, 2 in Ghana and one in Botswana, Djibouti, Kenya, Uganda and Zimbabwe.
The fact that Nigeria, which has the largest population and economy in Africa, has decided to install its first ATM is a clear sign of cryptos' increasing adoption across the continent.
According to Google Trends, Nigeria is the country with most searches for the term “Bitcoin", almost twice as much as Austria, which is in the second place. South Africa and Ghana rank third and fifth, respectively, in the ranking.
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