Express Minds Ltd has set up a bitcoin automated teller machine (BATM) in Gaborone, Botswana, increasing the number of the machines on the continent to 10. The fiat-to-crypto machine allows users to purchase bitcoin by scanning a QR code for their wallet address, feed money into the machine and get the crypto equivalent automatically assigned to their wallets.
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ATM to Improve Cryptocurrency Uptake
The local tech company expects its machine, located at a large mall in the city-center, to incentivize the uptake of cryptocurrency. The supposed complexity of virtual currency trade has been discouraging for some prospective consumers. Transacting without human mediation may also be attractive to customers considering that some exchanges have picked up dubious reputations while individual partners cannot always be trusted to be in good faith.
Goabaone Brose Watlala, a director with Express Minds, said the BATM, which can only handle a daily transaction…