Namibia, a Southern African nation has just launched its first crypto ATM, as blockchain acceptance and adaptation continue to spread in most African countries.
The launching of the digital currency ATM took place at Maerua Mall in the nation’s capital Windhoek.
According to reports, this initiative allows Namibians and the nation’s residents to convert the likes of Bitcoin and Ethereum to Namibian Dollar, likewise possessing the ability to purchase the cryptocurrencies with the nation’s currency.
While addressing the event, a representative from CryptoKiosk Investment, Aminah Nauyoma-Ndeulita, stated, “Our kiosks allow them to essentially self-bank through the digital wallet on their phone by turning their cash into cryptocurrency, which can be used to transfer money internationally, pay bills, or invest in other cryptocurrency investment channels. We are optimistic that our company will bring user-friendly and convenient services to more people across the country as we grow and establish more crypto kiosks nationwide.”
In other to use the crypto ATM, a user must own a digital currency wallet, the likes of Coinbase, Binance, or any wallet that is trusted by the user.
For the safety and protection of the user, and especially to curb any form of fraud, the kiosk comes with some safety measures and features.
To have access to the kiosk services, users must possess a form of identification, the Namibian ID number, or a postal address. the device is also programmed to capture users’ faces by photograph while they transact. this is all in a bid to prevent all forms of criminal activities.
It was also revealed that anyone processing a transaction above Five Thousand Namibian Dollars will be mandated to tender details of their residential address and a copy of their identity document.
Aminah Nauyoma-Ndeulita reiterated that Crypto Kiosk Investments had installed CCTV at the ATM’s location for security and safety reasons.