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Golix Opens First Cryptocurrency ATM In Zimbabwe

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Zimbabwean cryptocurrency exchange Golix has opened the first cryptocurrency ATM in the country dealing with bitcoin and U.S. dollar.

The Bitcoin ATM comes loaded with US dollars, allowing anyone to buy and sell bitcoin at favorable rates using the physical greenback.

Golix is Zimbabwe's first and the only cryptocurrencies exchange and the ATM has been placed at its customer support office at Batanai Gardens in Harare's first street.

The ATM dispenses U.S. dollars only to anyone selling bitcoins and accepts U.S. dollars only from anyone who wants to buy the cryptocurrency. Zimbabwe is a country that adopted the U.S. dollar as its official currency way back in 2009.

"Thanks to Golix's ATM, Zimbabwe joins an elite score of less than 70 countries around the world that have introduced the machines which provide convenience to customers, especially first time users of cryptocurrencies and the unbanked without access to digital funds," the company stated.

Golix provides customers at the ATM a simple touch screen interface that enables them to easily buy and sell bitcoins in exchange for U.S. dollars. It accepts only cash deposits and does not handle card transactions.

Just like a normal ATM, the Bitcoin ATM also allows customers to insert U.S. dollars which are converted to the volume of bitcoins that they want to buy. The bitcoins purchased are then sent directly to the customer's wallet.

Meanwhile, customers who do not have a bitcoin wallet have the option to generate a new bitcoin address.

Golix Product Manager Yeukai Kusangaya said, "After realising that the public is still struggling to understand or in some cases access bitcoin, we felt that the bitcoin ATM would be a huge and necessary step towards engaging people on how they can use cryptocurrencies for their daily business."

According to Golix Founder and CEO Tawanda Kembo, the Bitcoin ATM was actually a response to requests from a number of customers that asked for an alternative way to buy and sell bitcoin.

by RTTNews Staff Writer

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