First Cryptocurrency ATM Launched in South Africa

South African blockchain company, Vendibit has announced the re-opening of Africa’s first “VTM”, a “cryptocurrency-ATM”, also called a BTM, upgraded with Vendibit blockchain technology. Vendibit provides start to finish machine deployment including installation, hardware, software, support and management.

The VTM machines allows customers to buy cryptocurrencies such as Bitcoin, Litecoin and Ethereum with cash, with their smartphone-cryptocurrency e-wallets. They will also be able to send and receive peer-to-peer, without a bank. Worldwide, in USA, Europe and Asian countries, businesses are rapidly expanding their acceptance cryptocurrencies in day-to-day peer to peer and business transactions.

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The VTM is located inside the Spar-Northwold, found at Northwold Junction Shopping Centre in Randburg, outside Johannesburg, South Africa.

Vendibit senior blockchain consultant Daniel Cappiello, partner on several projects worldwide foresees a brisk uptake, as South Africans join the global revolution in digital finance, allowing anyone with a simple smartphone to try out digital currency for themselves. Cappiello has overseen numerous deployment of VTM’s in The Americas, Europe and Asia since 2014.

Vendibit BTMs or “Bitcoin ATMs” are becoming increasingly popular with more than 3000 worldwide and growing rapidly. “We are happy to say that we were the first in all of Africa here in 2014 to install the first machine with our South African partners and we look forward to deploying many more.

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“The rapid spread of blockchain technology and Vendibit VTM machines are proof that the public is demanding access to the future, today. Most people are becoming familiar of blockchain and cryptocurrencies thanks to names like Bitcoin, Litecoin and Ethereum.

“Vendibit believes the customer should always come first. Cryptocurrencies are still new in South Africa, so making information easily available and understandable to a broad public is vital. The company is, therefore, focusing on its ‘5-C’ strategy, which emphasises Customers, Compliance, Cash, Convenience and Cryptocurrencies.

“It is key that people understand that the price of cryptocurrencies like Bitcoin is volatile”. Vendibit VTM machines and their host locations are not responsible for price volatility and are not financial advisors. “We urge everyone to learn more about digital currencies and Blockchain technologies”. Digital cryptocurrencies, like Bitcoin are a revolution in human history. “We are enabling people to buy a bit of the future today”, said Cappiello. Cryptocurrencies can be sent from person to person through the internet, over mobile phones, used to pay for items online, with extremely low fees.