Bitcoin ATM in Cape Town and Stellenbosch

Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet.

Bitcoin is the first implementation of a concept called “cryptocurrency”, which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown exponentially with many developers working on Bitcoin.

Yes,  you can Buy Bitcoin for cash at any of our ATMs. All our machines are two way ATMs so you can also Sell Bitcoin for cash.

We offer the following currencies and sites: Buy Bitcoin Capetown, Sell Bitcoin Capetown. Buy Bitcoin Stellenbosch, Sell Bitcoin Stellenbosch. 

We also Buy and Sell Altcoins including DASH, NANO and Ethereum

From a user perspective, Bitcoin is nothing more than a mobile app or computer program that provides a personal Bitcoin wallet and allows a user to send and receive bitcoins with them. This is how Bitcoin works for most users.

Behind the scenes, the Bitcoin network is sharing a public ledger called the “block chain”. This ledger contains every transaction ever processed, allowing a user’s computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses, allowing all users to have full control over sending bitcoins from their own Bitcoin addresses. In addition, anyone can process transactions using the computing power of specialized hardware and earn a reward in bitcoins for this service. This is often called “mining”. To learn more about Bitcoin, you can consult the dedicated page and the original paper.

Yes,  we do allow anonymous transactions up to R24 000 after which we do regular KYC and AML requiring an ID, proof of address and source of funds

Yes,  we do allow anonymous transactions up to R24 000 after which we do regular KYC and AML requiring an ID, proof of address and source of funds.

Bitcoin is designed to allow its users to send and receive payments with an acceptable level of privacy as well as any other form of money. However, Bitcoin is not anonymous and cannot offer the same level of privacy as cash. The use of Bitcoin leaves extensive public records. Various mechanisms exist to protect users’ privacy, and more are in development. However, there is still work to be done before these features are used correctly by most Bitcoin users.

Some concerns have been raised that private transactions could be used for illegal purposes with Bitcoin. However, it is worth noting that Bitcoin will undoubtedly be subjected to similar regulations that are already in place inside existing financial systems. Bitcoin cannot be more anonymous than cash and it is not likely to prevent criminal investigations from being conducted. Additionally, Bitcoin is also designed to prevent a large range of financial crimes.

When a user loses his wallet, it has the effect of removing money out of circulation. Lost bitcoins still remain in the block chain just like any other bitcoins. However, lost bitcoins remain dormant forever because there is no way for anybody to find the private key(s) that would allow them to be spent again. Because of the law of supply and demand, when fewer bitcoins are available, the ones that are left will be in higher demand and increase in value to compensate.

Yes. AnkerPay currently operates two of them one in Cape Town and one in Stellenbosch. There are more to come in Port Elizabeth, Durban, Bloemfontein and Johannesburg contact us for further details. 

Searching for the following keywords will help you find us: Bitcoin, Bitcoin machine near me, bitcoin atm machine near me, Bitcoin machine locations. Buy Bitcoin Western Cape, Sell bitcoin Capetown

Not all Bitcoin ATM’s dispense cash, however, all AnkerPay Bitcoin ATM’s dispense cash.

It depends. When buying Bitcoin it is almost instant. When selling the seller has to wait for one confirmation before he can withdraw. The Bitcoin network has a 10 minutes block time. So typically less than ten minutes. 

Yes, Bitcoin ATM’s are safe and a very convenient way to buy and sell Bitcoin.

We are expanding key sites across South Africa. Some of these sites are but not limited to: Klerksdrop, Potchefstroom, Mahikeng, Mbombela Upinton, Kimberly, Polokwane, Durban, Umhlanga, Pietermaritzburg, Pretoria, Johannesburg, Nelspruit, Soweto,  Bloemfontein, Bethlehem, Kroonstad, Welkom, Port Elizabeth, East London, Mosselbay, Beaufort west, Somerset West, Paarl and Lesotho.