The Crypto Kiosk at Maerua Mall in Windhoek is now home to Namibia’s first Bitcoin ATM.
According to all applicable Namibian and international legislation, the Crypto Kiosk is operating in full compliance with the Namibian Financial Intelligence Centre (NFIC).
Bitcoin ATMs resemble conventional ATMs but connect directly to a cryptocurrency exchange or private wallet rather than to a bank account.
The Bitcoin ATM can convert cash into cryptocurrency and liquidate cryptocurrency into cash, sending both directly to cryptocurrency wallets.
Users of the Crypto Kiosk can buy or sell Bitcoin and Ethereum, two of the biggest cryptocurrencies.
Users must have an existing cryptocurrency wallet, like Coinbase, or an account with an exchange, like Binance, in order to use the Crypto Kiosk.
“When you visit the Crypto Kiosk and require assistance, you can phone the customer service center at any time, day or night, using the cell number provided on the machine. To ensure that we can always keep an eye on our customers’ safety, the company also has CCTV. In particular, in this new and developing cryptocurrency business, we are always looking forward to providing our clients with the finest service possible “read Aminah Nauyoma-statement Ndeulita’s from Crypto Kiosk Investment. ATMs are anticipated to become a crucial entry point for customers, particularly the unbanked, as the sector for blockchain-based financial services grows. The Crypto Kiosk presents the potential for those who have restricted access to conventional financial services, such as internet banking, in this regard.
There are currently 38 317 Bitcoin ATMs located in 77 different countries.
Before making a transaction, the Crypto Kiosk will ask the user for details including their Namibian ID number, mailing address, and a selfie.
In accordance with current regulatory requirements, clients trading more than N$5000 must also provide their residential address and a copy of their identity documents.
Read more on Tech Gist Africa:
Walmart has completed the first phase of its Bitcoin ATM rollout
The Moroccan Central Bank is currently working on a bill to regulate cryptocurrencies
The Central African Republic has approved bitcoin as one of its official currencies
