South Africans will now have the possibility to acquire virtual currencies using an ATM. The South African blockchain company, Vendibit, announced that it installed a new cryptocurrency ATM at Northwold Junction Shopping Centre in Randburg, outside Johannesburg, South Africa.
Vendibit is leading the blockchain adoption trend in South Africa providing start to finish machine deployment including installation, hardware, software, support, and management. The new Bitcoin ATM installed in the country is also related to the increased interest for virtual currencies in South Africa. The country has one of the most important bitcoin communities all over the world, and the interest for Bitcoin remains high even when in other countries has been decreasing since December.
At Bitcoin Hub, we were able to contact with Daniel Cappiello, Vendibit senior blockchain consultant, who explained that South Africans will join the global revolution in digital finance. Mr. Cappiello is also the founder of Copencoin, an enterprise located in Denmark that provides bitcoin ATMs and solutions to the market.
Daniel Cappiello said:
“The rapid spread of blockchain technology and Vendibit VTM machines are proof that the public is demanding access to the future, today. Most people are becoming familiar of blockchain and cryptocurrencies thanks to names like Bitcoin, Litecoin, and Ethereum.”
The ATMs allow individuals to buy virtual currencies such as Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH), with cash and smartphone. The business is rapidly expanding all over the world, including Asia, Africa, Europe and the Americas.
“The VTM machines allows customers to buy cryptocurrencies such as Bitcoin, Litecoin, and Ethereum, with cash, with their smartphone-cryptocurrency e-wallets,” explains Cappiello. “They will also be able to send and receive peer-to-peer, without a bank. Worldwide in USA, Europe, and Asian countries, businesses are rapidly expanding their acceptance cryptocurrencies in day-to-day peer to peer and business transactions.”
Vendibit focuses on customers, compliance, cash, convenience and cryptocurrencies, a strategy that Cappiello calls ‘5-C strategy.’ As the South African market needs to learn more about how virtual currencies work, it is important to make information easy available and understandable to the broad public.
At the same time, so as to preserve security, there will be a limit on the number of transactions that users will be able to use. Moreover, Cappiello says that they were working very closely with Shane Maguire, blockchain technology expert and editor at BitcoinHub.
“There will initially be a limit on the transactions for security reasons. To assist us in the South African market, we are working closely with the blockchain and cryptocurrency community, including Shane Maguire, blockchain technology expert and editor at BitcoinHub.”
According to Coin ATM Radar, this is the first bitcoin ATM operating in the African country. Zimbabwe and Kenia are already offering the opportunity to buy virtual currencies using an ATM to their citizens.
In the future, there could be more ATMs installed in the country, depending on how the market will react to this new possibility to easily buy virtual currencies from an ATM.
“We see our customers as being people waiting to invest in cryptocurrencies and also using it as another platform (as they would do online) to send Bitcoin via the digital platform,” commented both, Mr. Maguire and Mr. Cappiello.