Namibia Rolls out its first Bitcoin ATM, Crypto Kiosk
Namibia’s first Bitcoin ATM is now available at the Crypto Kiosk in Windhoek’s Maerua Mall.
The Crypto Kiosk operates in full compliance with the Namibian Financial Intelligence Centre and all applicable Namibian and international legislation (NFIC).
Bitcoin ATMs are similar to traditional ATMs, but instead of connecting to a bank account, they connect directly to a cryptocurrency exchange or private wallet.
The Bitcoin ATM can convert cash into cryptocurrency and cryptocurrency into cash, sending both to cryptocurrency wallets directly.
The Crypto Kiosk allows users to buy and sell Bitcoin and Ethereum, two of the most popular cryptocurrencies.
To use the Crypto Kiosk, users must have an existing cryptocurrency wallet, such as Coinbase, or an account with an exchange, such as Binance.
“If you visit the Crypto Kiosk and need help, you can call the customer service center at any time of day or night by dialing the cell number provided on the machine.” The company also has CCTV to ensure that we can always keep an eye on our customers’ safety. “In particular, in this new and developing cryptocurrency business, we are always looking forward to providing the best service possible to our clients,” read Aminah Nauyoma-statement Ndeulita’s from Crypto Kiosk Investment. As the sector for blockchain-based financial services grows, ATMs are expected to become a critical entry point for customers, particularly the unbanked. In this regard, the Crypto Kiosk offers the potential for those who have limited access to traditional financial services, such as internet banking.
There are currently 38 317 Bitcoin ATMs spread across 77 countries.
Before making a transaction, the Crypto Kiosk will request information such as the user’s Namibian ID number, mailing address, and a selfie.
Clients trading more than N$5000 must also provide their residential address and a copy of their identity documents, according to current regulatory requirements.
