There are more than 4,000 bitcoin automated teller machines (ATMs) in the world, but only just about 10 (or 0.2 percent) of these are in Africa. In a continent widely touted as the next big growth region for cryptocurrency, could it be that the story of Africa’s growth isn’t as real as many “Africa rising” headlines have suggested?
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Bitcoin ATM Penetration and Use Weak in Africa
It is little surprise that the bulk of bitcoin teller machines in Africa are found in South Africa, the continent’s most sophisticated economy. About five fiat-to-crypto ATMs are dotted around in the cities of Capetown, Johannesburg, Nelspruit and Pretoria. Altogether, the machines can dispense up to one million rand (about $71,000) combined each day, even…