The first Bitcoin ATM in Namibia is now operational at Maerua Mall in Windhoek via the crypto kiosk. A Bitcoin ATM can liquidate cryptocurrency into cash directly from crypto wallets and can also turn cash into cryptocurrency sent directly to crypto wallets.
The Namibian Financial Intelligence Centre, as well as other relevant Namibian and international legislation, are fully upheld by the Maerua Mall’s Crypto Kiosk. 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.
The Crypto Kiosk allows users to buy or sell two of the largest cryptocurrencies namely Bitcoin and Ethereum. To be able to use the Crypto Kiosk, users need an existing crypto wallet either with Coinbase, Exodus, etc, or an account with any exchange such as Binance, Altcoin trader and any other trusted exchange.
Clients are given receipts as confirmation of each transaction after it has been completed. Additionally, the Crypto Kiosk provides attractive rates that are 70% less expensive than those of other cryptocurrency ATMs worldwide.
Aminah Nauyoma-Ndeulita from Crypto Kiosk Investment said, “Whenever you visit the Crypto Kiosk and you need assistance, you can call the customer care center on a mobile number provided on the machine and we will gladly assist you at any time 24/7. We also have a CCTV at the establishment to make sure we can monitor the safety of our clients at all times. We are always looking forward to serving our clients with the best service there possibly is, especially in this new and emerging cryptocurrency industry.”
She added, “As block chain-based financial services develop as an industry, ATMs are expected to become an essential gateway for customers including the underbanked. In this regard, the Crypto Kiosk offers opportunities for those with limited access to traditional financial services, such as online banking.”
She also emphasized, “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.”
According to a recent survey, the number of Bitcoin ATMs has increased dramatically, with more than 880 machines deployed in just the first 10 days of June. Since the first machine was put in 2013, there are now more than 38,000 machines placed globally. There are currently 38,317 Bitcoin ATMs located in 77 different countries. In Africa, there are a total of 15 Bitcoin ATMs in 8 countries according to a report by the Nigerian Bitcoin Community.