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Cryptocurrency

There are now over 8000 BTC ATMs around the world, including in Nigeria

Bitcoin ATMs have increased in popularity around the globe because of the easier options they provide.

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There are now over 8000 BTC ATMs around the world, including in Nigeria

Since the introduction of Bitcoin Automated Teller Machines  in 2013, more than 8,000 Bitcoin ATMs are now installed around the world, including in Africa’s largest economy, Nigeria.

According to reports obtained from CoinATMRadar, seen by Nairametrics, there are presently about 8,208 ATMs in 73 countries that include Nigeria, allowing individuals to buy and sell Bitcoin (BTC) and other crypto assets for cash. More than two-thirds of them are in the United States.

Bitcoin Automated Teller Machines (Bitcoin ATMs) have increased in popularity around the globe because of the easier options they provide to consumers in buying or selling of bitcoin

Recall that months ago, Nairametrics broke the news, when Blockstale’s ATM terminal installed the First Bitcoin ATM at Lagos, Nigeria, the second Bitcoin ATM installed in West Africa.

READ MORE: Bitcoin: Nigeria’s new goldmine

Nigeria has Africa’s largest population and economy, so its first Bitcoin ATM may be a signal for broader adoption across the continent, as Bitcoin use among Nigerians gains steady momentum.

Nigeria’s digital economy is on the rise. With the increased poverty level, more individuals are making an entrance into the global digital economy by providing digital services as freelancers.

Consequently, Nigerians have trouble receiving payments from their foreign clients. They are not allowed to use even the most famous American based Paypal, and other options like Money Gram and TransferWise are not only expensive and slow but also have inflexible verification system.

Bitcoin, however, offers them a flexible, almost instant, and cheaper means of receiving cross border payment after rendering their services to clients and companies.

The many economic problems in Nigeria, including inflation and the devaluation of the naira, have made the country’s fiat currency a poor store of value, pushing some to store their value in a deflationary currency like Bitcoin which can protect its owners from excess money printing from central authorities and other uncertainty

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

2 Comments

2 Comments

  1. Olaniyi Abiodun

    June 20, 2020 at 4:46 am

    Kindly show me how to make money thru investment on bitcoin,thanks

  2. Hassana musa

    June 20, 2020 at 5:16 am

    We widow we need d loan

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Cryptocurrency

Chinese photo-editing app, Meitu buys $40 million worth of Bitcoin & Ethereum

Crypto experts argue that such strong demand in the Bitcoin market is largely attributed to the fact institutions are coming

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Meitu

The Share value of a Chinese photo-editing app, popularly known as Meitu Inc surged as much as 14.4% this morning after the Chinese company known for its beauty-focused app said it had bought $40 million worth of Ethereum and Bitcoin.

The Chinese technology firm, late-night yesterday revealed in its most recent filing that it bought $22.1 million worth of Ether and $17.9 million worth of Bitcoin on March 5 in a report credited to Reuters.

Meitu is the latest global firm holding Crypto as a form of its treasury operations. About a month ago, Tesla Inc revealed it had bought $1.5 billion of Bitcoin, which sent the world’s most popular crypto’s price up 20%.

So fast Ethereum has printed gains of about 530% while the flagship Crypto’s yearly returns stand at about 430%.

Meitu said it was buying the popular Cryptos for investment and partly as preparation to enter the blockchain community and that it would support such purchase from its existing cash reserves.

Meitu is evaluating the possibility of integrating blockchain technologies into its businesses based abroad, which could include projects on the Ethereum blockchain network.

Recall some days back, a leading global bank, Citi had suggested the flagship crypto-asset could “become the currency of choice for international trade,” thanks to its “decentralized design, lack of foreign exchange exposure, fast (and potentially cheaper) money movements, secure payment channels, and traceability.”

Crypto experts argue that such strong demand in the Bitcoin market is largely attributed to the fact institutions are coming.

The market liquidity is tightening at the flagship Crypto market, as there are less than 4 million BTCs in circulation available for upcoming investors including the likes of Grayscale, Paypal, Microstrategy, hedge funds, MicroStrategy Inc.’s Michael Saylor purchased more Bitcoin to raise the enterprise-software company’s holdings to more than $4 billion.

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Billionaire Watch

Dogecoin could eventually hit $1

Dallas Mavericks owner, Mark Cuban is predicting the price of the Dogecoin will eventually hit $1,

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Dallas Mavericks owner, Mark Cuban is predicting the price of Dogecoin (DOGE) will eventually hit $1, after few days of accepting the crypto as a form of payment.

In a recent tweet, posted by the American-based billionaire, Cuban revealed customers had used more than 20,000 Dogecoin — roughly $1,018 at the time of writing this report — in transactions for his basketball teaM claiming the franchise was now “the largest Dogecoin merchant globally .”

Cuban anticipates that if basketball fans were to purchase 6,556,000,000 DOGE worth of Mavericks merchandise, the price of the token touch will “definitely hit $1.”

Cuban was known for creating the video portal, Broadcast.com with Todd Wagner in the mid-nineties and sold it to Yahoo for $5.7 billion in 1999.

Today he owns the NBA’s Dallas Mavericks and has stakes in Magnolia Pictures, AXS TV, and dozens of small startups.

According to Forbes, Mark Cuban is valued at about $23.4 billion at the time of writing this publication.

What you should know: Dogecoin is a type of digital coin that is decentralized and facilitates peer-to-peer digital transactions. This means you can send money online with much ease. It’s usually referred to as “the internet currency.”

It is different from BTC’s proof-of-work protocol in many ways, one of which is the Scrypt technology. The fast-growing altcoin also has a block period of 1 minute, and the total supply is unlimited, meaning that there is no limit to the amount of Dogecoin that can be mined.

“The recent rise of dogecoin, a meme coin, should serve as a reminder to everyone in the space that the most popular use case for crypto is still pure speculation,” said Anil Lulla, a former analyst at Bloomberg and co-founder of the cryptocurrency research firm, Delphi Digital.

  • Dogecoin (DOGE) is based on the popular “Doge” Internet meme and features a Shiba Inu on its logo.
  • The open-source crypto was invented by an American known as Billy Markus and an Australian identified as Jackson Palmer. The crypto asset was forked from Litecoin in December 2013.
  • This fast-rising crypto is being primarily used as a tipping system on popular social media platforms like Twitter and Reddit in order to reward the creation or sharing of quality content.

Crypto exchanges presently having Dogecoin listed include YoBit, BitAsset, Binance, Huobi Global.

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