South Africa to have its first cryptocurrency ATM

The cryptocurrency ATM to feature multiple virtual currencies, including Dash, Ethereum, Bitcoin, and others. Those who are interested in purchasing these currencies can easily do it irrespective of having a bank account..

South Africa’s first cryptocurrency ATM  is scheduled to be installed at Northwold Spar this week. Spar, an international brand, is one of South Africa’s major retailers.

George Neophytou, the general manager of the Northwold Spar and a crypto enthusiast said that it is exciting to have South Africa’s first cryptocurrency ATM. It will do away with the frustration of buying and selling cryptocurrency and will help in streamlining cryptocurrencies.

The cryptocurrency ATM will feature multiple virtual currencies, including Dash, Ethereum, Bitcoin, and others. Those who are interested in purchasing these currencies can easily do it irrespective of having a bank account.

Earlier, Zimbabwe’s central bank had put a halt on local banks from trading or processing payments linked to cryptocurrencies like bitcoin.

Reserve Bank of Zimbabwe governor John Mangudya, however, said in a statement, the central bank had not licensed anyone to trade in virtual currencies and that dealers and investors did not have the protection of the law.