How to Use a Bitcoin ATM in Nigeria: Complete Guide (2025)

Traditional ATMs are everywhere in Nigeria. It offers convenience that allows people to send and withdraw fiat whenever they need to.

But what of Bitcoin ATMs? Are there automated teller machines that allow crypto owners to buy and sell Bitcoin whenever they need to? The short answer is yes.

However, there is a lot more to the use of these ATMs. This guide covers all you need to know about how to use Bitcoin ATM in Nigeria. Let’s get started. 

What is a Bitcoin ATM and How Does it Work?

Bitcoin ATMs might be a new term to you, so let’s discuss what they are and how they work. 

Straight off the bat, a Bitcoin ATM (or BTM) is a machine that allows users to sell and buy Bitcoin and other cryptocurrencies. 

These ATMs are also different from the typical ATMs that connect to your account number and might need a card to operate. Instead, a BTM leverages blockchain technology to directly deploy the (buy and sell) transactions you want through your linked digital wallet. 

To start a transaction on a Bitcoin ATM, the machine will request a “buy range”.

Afterwards, you will likely need to scan your Bitcoin’s QR code. Once confirmed, you can insert cash or your debit card to process the purchase. After a successful purchase, the Bitcoin appears in your customer’s wallet.

The entire process might take a couple of minutes to complete.

The sell function takes a similar approach, too. You wait a couple of seconds to minutes to collect our cash after following the necessary instructions like a typical ATM. 

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Are Bitcoin ATMs Available in Nigeria?

Yes, there are currently two Bitcoin ATMs in Nigeria. Both of these ATMs are located in Lagos. The first is in Dazey Lounge and Bar, Ajah, Lagos, and the second is in CI Crypto Solutions, Ikeja, Lagos. In Nigeria, Bitcoin ATMs are a rare breed. 

Bitcoin ATMs are scarce in Nigeria for several reasons.

First, the upfront cost is high, and there is structural compliance. Plus, there is a low demand for these machines. Alternatives such as P2P traders and Crypto OTC trading platforms, like Breet, offer quick exchanges with way more convenience.

There is also uncertainty regarding the ATM regulation. The federal government has a history of banning and removing bans on its use in the past decade. 

Steps on How to Use Bitcoin ATM Machine in Nigeria

Here is a practical step-by-step guide on how to use a Bitcoin ATM Machine in Nigeria, from locating an ATM to scanning a wallet address and confirming transactions. 

1. Locate a Bitcoin ATM

You can locate a Bitcoin ATM in Nigeria using directories like CoinATMRadar or Bitcoin ATM Map to find nearby BTMs.

These platforms provide information on availability, supported services, and fees. In Nigeria, there are currently two known Bitcoin ATMs. Both ATMs are located in Lagos—Dazey Lounge & Bar (Ajah) and CI Crypto Solutions (Ikeja).

2. Prepare Your Crypto Wallet

Get a Bitcoin-compatible wallet ready. It is preferable if the wallet displays your receiving address as a QR code. If you don’t have one, download a trusted mobile wallet beforehand.

3. Go to the ATM and Begin the Transaction

Tap the on-screen option “Buy Bitcoin” (or “Sell” if applicable) to start. Enter the amount of cash you wish to convert to BTC.

4. Complete Identity Verification (If Required)

The ATM might demand verification for  higher amounts:  

• A phone number for SMS OTP verification
• A valid ID scan (e.g., driver’s license or passport)

5. Scan Your Wallet Address

Present your wallet’s QR code to the ATM’s scanner to accurately input the receiving address. Double-check the displayed alphanumeric address to avoid errors.

6. Insert Cash

Feed the specified amount of fiat currency (e.g., Naira) into the machine. The screen will display BTC equivalent and fees.

7. Confirm the Transaction

Review all details: amount, wallet address, fees, and then press “Confirm” or “Send” to finalize the transaction. 

8. Collect Your Receipt and Wait for Confirmation

The ATM will issue a receipt with transaction details, including a transaction ID. BTC will be delivered to your wallet after blockchain confirmations; this may take 5–15 minutes up to an hour, depending on network speed

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Requirements Before Using a Bitcoin ATM in Nigeria

Similar to a traditional ATM that requires a card or fingerprint, there are certain requirements to meet before you can use a Bitcoin ATM in Nigeria. Here is an overview: 

1. A Bitcoin-Compatible Wallet

You must have a digital wallet that supports Bitcoin (BTC) and can display your receiving address in QR code format for easy scanning.

If you don’t have one yet, download a trusted mobile wallet or consider a hardware/paper wallet.

2. Cash or Debit Card

Most Bitcoin ATMs accept cash only. Take the exact amount you intend to spend, as they often don’t dispense change. A few machines may support debit cards, but it varies by location. 

3. Identification (When Required)

KYC (Know Your Customer) rules vary based on transaction size and local regulations:

• Small purchases:  Requires a phone number for text verification.
• Larger amounts: Require photo ID such as a driver’s license or passport, and even a selfie for facial recognition.

4. Fees, Limits, and Safety Tips When Using A Bitcoin ATM

There are attached fees, limits, and safety steps linked to using a Bitcoin ATM in Nigeria. Knowing all helps you better navigate how to use Bitcoin ATMs. Let’s discuss each: 

What are the Fees for Bitcoin ATMs in Nigeria? 

Bitcoin ATMs have a ton of fees. The ATMs have a percentage markup that varies with location and machines.

This fee usually ranges from 6 to 15%. However, there have been cases where the fee gets as high as 25%.

The BTMs also have a small miner fee. The amount usually ranges from $1 to $3.

This fee covers the transaction cost.

But aside from these two fees we have discussed, there are also others like the cash handling fee and a minimum transaction fee. Using a BTM can be a bit pricey. 

What are the Limits? 

BTM has a set limit on the amount that users can transact. The daily transaction limit for most ATMs is usually within the range of $300 to $10,000, which depends on the user’s verification level. 

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Safety Tips to Follow when using a Bitcoin ATM in Nigeria

• First, protect your information. One of the major issues is sharing your pins and private keys. No matter the situation, don’t disclose this information. 
• Also, choose the Bitcoin ATM you use carefully. Ensure you don’t visit scam locations to process your transactions to prevent losing your funds. 
• Even at verified locations, inspect the BTM before use. If there are any damages or suspicious additions, refrain from going further. 
• Leverage two-factor authentication on your wallet for added security. Above all, walk away if your guts don’t sit well with a location. 

Breet: The Best Alternative to Bitcoin ATMs in Nigeria.

Bitcoin ATMs are great for fast transactions in emergencies or situations when alternatives are down.

However, there are strong alternatives that can fill its shoes per adventure if you consider its fees to be outrageous.

Our best recommendation for Nigerians remains Breet, an OTC crypto-to-crypto and crypto-to-cash platform. 

Breet offers the best value for your cash and crypto. You can do almost everything you can do on a Bitcoin ATM on Breet.

While this platform doesn’t have the “Buy” feature, you can sell and swap Bitcoin in under 287 seconds on the site. The platform’s page is user-friendly and easy to navigate.

All you need to do is download the Breet App and follow the on-screen instructions to get started.

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Conclusion on How to Use Bitcoin ATM in Nigeria

Bitcoin ATMs were once the popular option for selling and buying cryptocurrencies.

The machines took over the global space, with over 38,000 of them in existence.

However, there are only two of these BTMs in Nigeria. These two offer quick access to the buy and sell options once you connect your wallet. But BTMs have high fees; if you want something more affordable and a lot more convenient—Breet.

The platform and other mentions like P2P and exchanges are great alternatives. Nevertheless, this article explores how to use Bitcoin ATM, from locating a machine to finalizing a transaction.