Is there any bitcoin ATM in Kenya?

In Summary

• It seems like people in business and several other world traders found it best for their business success.

• Cryptocurrency has adopted a new feature in its transactions, understanding the needs of traders, which is “Cryptocurrency ATMs machines.”

Crypto ATM
Crypto ATM
Image: REUTERS

Cryptocurrency has proved to be a great lifesaver through its ultimate benefits for several countries. More and more countries are happily embracing cryptocurrency tradings for better financial situations.

The trend of cryptocurrency is getting more popular day by day. It seems like people in business and several other world traders found it best for their business success.

This hot topic is expanding enormously with the increase in its users. Not only major developed countries but under developing countries have adopted it so far. Africa’s excellent economy Kenya has also switched to cryptocurrency for its business purposes. 

However, after its adoption, traders are accepting to see more innovations in cryptocurrency technology. People of today’s era prefer easy and accessible things. Hence, traders are accepting cryptocurrency services to be more straightforward. 

Cryptocurrency has adopted a new feature in its transactions, understanding the needs of traders, which is “Cryptocurrency ATMs machines.” These ATMs are just like the normal ATM in appearance. However, it’s working, and services are slightly different from the regular Automated Teller Machines (ATM). 

Cryptocurrency ATMs in Kenya

Following the crypto trend, Kenya has also benefited its economy through cryptocurrency tradings. Like other people, folks of Kenya also want to see more techniques and features in cryptocurrency to regulate their tradings more easily.

Along with cryptocurrency, Bitqz app played a considerable role in the bitcoin tradings in Kenya. People of Kenya switched to this platform than others because of its various services such as affordable transaction fees, easy and secure tradings. 

Since the demand for cryptocurrency is increasing, the need for Bitcoin ATMs has also boomed significantly. If we talk about Kenya, they have adopted the Bitcoin ATMs services. 

The first-ever ATM of Kenya was established in Nairobi in 2018. This ATM installation made it easy for the traders to purchase bitcoin and Litecoin in cash within a bit of time. The bitcoin ATM permits the traders to buy the cryptocurrencies in small tokens for very affordable rates. Usually, the speed of the bitcoin token starts at $5. The ATM further allowed the traders to pay for them in Kenya shillings or Dollars. 

The transactions through Bitcoin ATM are straightforward, and people can handle them easily. This transaction takes less than two minutes allowing the traders to get the numerous bitcoin just in cash value. Through the benefits of ATMs, a growing number of Kenyans are switching to cryptocurrencies as the most significant investment avenue. Despite the warnings from financial experts, Kenyans are still hoping to make considerable profit gain through cryptocurrency. 

To buy several digital currencies such as Bitcoin cryptocurrency, traders must have to follow the instructions. Here are the steps which are needed to ensure the purchase of cryptocurrency using crypto ATMs.

Set up account: If the traders are looking for purchases through cryptocurrency ATM, it is necessary to set up a crypto account. The traders can do this with the help of trustworthy bitcoin trading platforms. 

Verification: The next step after the account creation is the verification. People can verify their account by putting some personal pieces of information such as email address and password.

Bitcoin wallet: Once your crypto account is done, there will be an inbuilt wallet. The purpose of the wallet is to store digital currencies. Moreover, people can also download the wallet from any mobile application store. The bitcoin wallet keeps your bitcoin address, account numbers, and a QR code. This QR code is helpful when scanning to identify the account.

Buying the bitcoin: To buy bitcoin, users have to scan their QR code to have access to their account. After identifying the account, they have to deposit the cash into the ATM and then choose the buy option. The token of buying bitcoin will reflect the wallet of a buyer. Moreover, the purchase receipt is sent through SMS or email for surety.

Conclusion:

Kenya has adopted bitcoin ATMs for its golden benefits and ease of access. Hence, more Kenyans are adopting cryptocurrency for its undeniable features.