SOUTH AFRICA | Leading American Crypto ATM Firm, CoinFlip, Installs 9 Crypto ATMs in South Africa

Olliv by CoinFlip, a company from Chicago, United States, has expanded to South Africa after installing 9 cryptocurrency kiosks across KwaZulu-Natal and Gauteng provinces while offering its over-the-counter digital order desk service in the region.

According to local reports, the company currently operates a network of 4,500 cryptocurrency kiosks globally with recent expansions into countries such as Canada, Australia, New Zealand, Italy, Panama, and Brazil since 2022.

Cryptocurrency kiosks enable users to easily acquire or trade a variety of cryptocurrencies using cash or alternative payment options. These kiosks are equipped with a user-friendly interface ensuring that buying and selling cryptocurrencies becomes an uncomplicated and readily accessible experience for the general populace.

According to the company’s website, the following cryptocurrencies can be purchased at a CoinFlip by Olliv crypto ATM:

• Bitcoin (BTC)
• Litecoin (LTC)
• Ethereum (ETH)
• Dogecoin (DOGE)
• Aave (AAVE)
• Stellar Lumens (XLM)
• Chainlink (LINK)
• USD Coin (USDC)

These cryptocurrencies can be sold at a CoinFlip by Olliv Bitcoin ATM that facilitates selling:

• Bitcoin (BTC)
• Litecoin (LTC)

The ATMs currently only accept cash. If you want to buy with a credit or debit card, you can do so via the Olliv platform online, the company indicates.

The expansion of Olliv by Coinflip into South Africa is anticipated to play a role in the ongoing adoption of cryptocurrencies in a country that has one of the highest crypto users on the continent at 7.7 million holders. The availability of convenient access points like kiosks can facilitate and expedite the incorporation of digital currencies into day-to-day financial transactions.

Furthermore, the company intends to provide its in-person digital ordering service at the location, alongside the kiosks. This is described as an Over-the-counter (OTC) digital order desk service offered to institutional investors and high-net-worth individuals for executing large cryptocurrency transactions. It seeks to address the specific requirements of institutional investors and individuals with substantial financial assets who might require larger transaction volumes or tailored assistance.

Olliv by CoinFlip, which also recently launched its digital crypto platform in April 2023, says its on a mission to make cryptocurrencies more accessible and widely adopted on a global scale and helping to bridge the gap between traditional finance and the world of cryptocurrencies.

CoinFlip has the largest network of Bitcoin ATMs by volume in the United States, which is also home to the highest number of crypto ATM installations, representing 88% of the total crypto ATM installations worldwide.

Here is the distribution of crypto ATMs in Africa as of July 2022:

• South Africa – 18
• Nigeria – 2
• Namibia – 2
• Uganda – 1
• Ghana – 1
• Djibouti -1
• Kenya – 0
• Zimbabwe – 1

The 9 new installations now make South Africa the leading country in Africa with the highest number of crypto ATMs by far.