Maerua Mall in Windhoek now has Namibia’s first Bitcoin ATM.
In accordance with applicable Namibian and international legislation, the Crypto Kiosk operates in full compliance with the Namibia 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 cryptocurrencies and settle cryptocurrencies into cash, sending both directly to customers’ cryptocurrency wallets. Crypto Kiosk users can buy or sell Bitcoin and Ethereum, two of the largest cryptocurrencies.
To do so, they must have an existing cryptocurrency wallet, such as Coinbase, or an account at an ‘exchange’, such as Binance, to use the Crypto Kiosk. There are currently over 38,000 Bitcoin ATMs located in 77 different countries.
Before making a transaction, the Crypto Kiosk will ask the user for details, including their civil ID number, address and even a photograph (selfie).
08/02/2022
