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Bitcoin Zimbabwe Price

How To Make Money In Zimbabwe Using Bitcoins

How To Make Money In Zimbabwe Using Bitcoins

How to make money in Zimbabwe using Bitcoins Posted by StartupBiz Zimbabwe | Business Ideas , Starting a Business | 1 Bitcoin is a form of digital currency- meaning, if you have bitcoins, you do not physically purchase goods by handing notes or tokens to the seller. Bitcoins are used for electronic purchases and transfers. You can use bitcoins to pay friends, merchants, etc. Bitcoin allows people to send or receive money across the internet, even to someone they dont know or dont trust. Money can be exchanged without being linked to a real identity. Obtaining bitcoins through an exchange is the most common and feasible way to get started. There are hundreds of online exchanges through which you can obtain bitcoins. You simply register, enter your personal information, and purchase bitcoins using your credit card/bank account. Most exchanges require you to verify your identity by uploading your ID/Passport. The most popular international exchanges are ; ; . International exchanges require you to have a credit/debit card eg Mastercard, Visa Card to purchase bitcoins from Zimbabwe. You can use the Ecocash MasterCard, but it now has a monthly limit of $200 for online transactions. You can use mastercard/visa card from your bank eg Stanchart, Barclays, FBC, Ecobank etc though they now have different limitations on the transactions limit. Locally you can use the Zimbabwean website as it allows you to purchase bitcoin using Ecocash. However the price you buy bitcoins at from the website is much higher than the international price. Bitcoin is divisible. Lets say 1 Bitcoin costs $2500.You can buy 0.1 bitcoins at $250. Or 0.01 bitcoins at $25. Bitcoins are not an easy money making machine. Many people are falling into bitcoin pyramid scams and losing money. Some schemes will pro Continue reading >>

Golix Introduces Bitcoin Atm

Golix Introduces Bitcoin Atm

Zimbabwe has one Automated Teller Machine (ATM) dispensing cash and youll need a Bitcoin to get it! Golix, Zimbabwes first and largest cryptocurrency exchange, has introduced the countrys first ever Bitcoin ATM, which comes loaded with hard United States dollars. The machine which was activated last week allows anyone to buy and sell Bitcoin using the greenback, according to Golix spokesperson Nhlalwenhle Ngwenya. It is the only ATM in Zimbabwe dispensing US dollars to customers selling Bitcoin, he says. Through an easy to use interface it provides technology and cryptocurrency newbies a simple way to buy Bitcoin, Mr Ngwenya said in emailed responses. . . . he machine provides convenience to customers, especially first time users of cryptocurrencies, and the unbanked without access to digital funds. So, what does the Bitcoin ATM do exactly? Unlike most local ATMs, which no longer dispense cash real cash, US dollar notes, the Bitcoin ATM is dispensing cash sent from abroad or proceeds from the sale of cryptocurrency. But an added feature allows the Bitcoin ATM to go beyond the ordinary functions of the regular Automated Teller Machine: buying and selling of Bitcoin. In the same way that consumers insert a card into a traditional ATM, the Bitcoin ATM allows users to insert US dollars, which are converted to the volume of Bitcoin that they want to buy, Golix product manager, Yeukai Kusangaya, told The Herald Business. The machine then sends the Bitcoin straight to the customers wallet. Investors who buy Bitcoin without a Bitcoin wallet have the option to generate a Bitcoin address, she says. 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 peo Continue reading >>

Bitcoin Prices In Zimbabwe Soar After Military Takeover | Fortune

Bitcoin Prices In Zimbabwe Soar After Military Takeover | Fortune

In Zimbabwe, a country where hyperinflation led to $1 being worth 35 quadrillion Zimbabwean dollars , the relative security of cryptocurrency already came at a premium. The recent military takeover of the capital which generals insist is not a coup has made made the problem even worse. Bitcoin prices have risen 10% to $13,499 on Golix, the troubled nations only cryptocurrency exchange. That figure is nearly twice the $7,000 Bitcoin price on U.S.-based exchanges such as Bitfinex. The surge has been fueled by Zimbabwean investors seeking a safe haven from domestic banks amid the countrys ongoing political, financial and monetary woes. While Zimbabwe once had its own currency, it began using a mix of currencies from stable economies including the U.S. dollar in 2009 after hyperinflation made its own note nearly worthless . But, as the countrys political situation has worsened, Zimbabweans have continued to hoard money and park it in assets such as Bitcoin a move that in turn intensifies the countrys lack of hard cash circulating in the economy. Meanwhile, citizens are also worried that the countrys recently introduced bond note currency could spur another round of hyperinflation. Notably, its not exactly a deluge of investors flooding into Bitcoin in Zimbabwe. In the last 30 days, Golix has recorded about 146 Bitcoin trades. Thats nearly the same volume traded on the U.S.s largest exchange Bitfinex every 15 minutes, according to Web Begole at Exante Data. The low liquidity is also likely causing wide swings in the Bitcoin prices on the exchange. On LocalBitcoins, a peer-to-peer bitcoin platform , some sellers are offering Bitcoin at close to the global average of $7,400. Curiously enough, despite Zimbabwes weak economy, investors have also looked to equities to protect ag Continue reading >>

Which Bitcoin Exchanges May I Access If I Live In Zimbabwe?

Which Bitcoin Exchanges May I Access If I Live In Zimbabwe?

Zimbabwe is the only country with a 100 trillion dollar note. Its a sign of rampant inflation. If you live in Zimbabwe, it makes sense that you seek to own Bitcoin. Your economy would become more stable, if only the government would switch to Bitcoin. [continue below image] I suggest that you find a friend with an address in one of these 34 countries . It is not necessary that you trust the friend with the keys to your wealth, because only you and family members that you designate will have the account passwords. Choose someone with citizenship and a physical mailing address in a country that does not have a tax treaty with Zimbabwe. Your friend wont tell Coinbase that the account is for a citizen of Zimbabwe, but if he is audited by his own tax authority (or if Coinbase is compelled to match and report the earnings of a buy/sell transaction), he may need to demonstrate to his own tax authority that the account is custodial. Your friend can open an account at Coinbase in America or Bitstamp in the United Kingdom with his/her own name and address (the only cryptocurrency exchanges currently endorsed by CRYPSA).* Alternatively, keep your funds in your own device wallet, paper wallet or in a fully encrypted, online cloud-account. But, be sure to follow careful security measures. Maintaining a private key backup is non-trivial. If you follow safe & robust storage practices, you neednt worry about government seizure. No one can seize your assets without your cooperation. Incidentally, with a proxy account in the name of a foreigner, your friend must trust you even more than you trust him! Thats because a legitimate exchange (like Coinbase or Bitstamp) will demand multiple forms of ID, authority to withdraw funds from both a bank account and a credit card, and even temporary Continue reading >>

Bitcoin Price Breaches $30 000

Bitcoin Price Breaches $30 000

THE price per bitcoin on the local cryptocurrency exchange breached $30 000 yesterday on the back of a surge in its international price, as it is now being traded as a futures. Futures are financial contracts obligating the buyer to purchase any asset or the seller to sell an asset such as a physical commodity or a financial instrument at a predetermined future date and price. The local price per bitcoin was trading at about 89% yesterday on the local exchange, Golix, higher than the international price per bitcoin of $16 524,64. The international price surged over the seven-day period by 44,78% from $11 413,40541 following an announcement last week that the cryptocurrency would now be traded as a futures. Yesterday, Golix reported that the price per bitcoin was ranging between $28 000 and $31 200. In terms of volumes, over the 30-day period, Golix reported that 118,6867 bitcoins had been transacted on the exchanges, translating to $3 707 203,995 having been transacted, an improvement from $1 million at the start of last month. In a 24-hour period, Golix reported that the volumes transacted was 1,7006 in bitcoin for $53 109,738. According to analysts, futures markets are characterised by the ability to use very high leverage relative to stock markets and these futures can be used to hedge or speculate on the price movement of the underlying asset. In that regard, bitcoin started trading on CBOE Global Markets Incs CBOE Futures Exchange, sending the price per bitcoin skyrocketing due to speculative tendencies in the trading of the cryptocurrency. Financial expert Persistence Gwanyanya said that the price on the local exchange was a reflection of the cash challenges in Zimbabwe because there are premiums on cash in the country. If buying bitcoin using that premium money, Continue reading >>

Btc Trading For $12.5k In Zimbabwe

Btc Trading For $12.5k In Zimbabwe

Zimbabwe, facing massive hyperinflation turns to Bitcoin - prices soar on local exchanges. Bitcoin is trading at a huge premium on local Zimbabwean exchanges, as the embattled country struggles through another bout of hyperinflation. At press time, BTC was selling on the local exchange, golix.com , at $12,500. The substantial premium - nearly double the price in the US - is likely connected to the difficulty in obtaining access to other international exchanges. The country has been in the news in recent years for its massive levels of inflation, often creating situations where locals are forced to carry entire backpacks of Zimbabwean dollars to the market for some simple groceries. In an economy where such inflation rapidly devalues whatever funds consumers have an externally fixed currency like Bitcoin creates a stable and usable marketplace where none existed before. Market forces in nations with weak or very weak fiat currencies are driving prices for Bitcoin, as tens of thousands of new users capitalize on the ability to exchange goods and funds in a simple and clean way. Obviously, the market at this stage represents an arbitrage nightmare, depending on which side of the transaction a consumer is on. However, the clear use case should give hope to Bitcoin bulls, looking to see the price increase to higher levels. Continue reading >>

Why Bitcoin Is Super Hot In Zimbabwe

Why Bitcoin Is Super Hot In Zimbabwe

People in Zimbabwe and other countries in political and economic turmoil increasingly are turning to digital currencies. Will Yakowicz is an award-winning journalist and a staff writer and podcaster for Inc. magazine. Before Inc., he reported from the West Bank and Moscow for Tablet Magazine; he covered business, crime, and local politics for The Brooklyn Paper; and he was the editor of Park Slope Patch. He lives in Brooklyn, New York. A man waves a Zimbabwean national flag during a demonstration demanding the resignation of Zimbabwe's president on November 18, 2017, in Harare. As the political turmoilin Zimbabwe has increased, so has the price of bitcoin . This week, at the same time military leaders were placing longtime president Robert Mugabe under house arrest, rising demand pushed thecost of one bitcoinin the African nation to $13,000 U.S.That's doublethe international rate, CNN Money reports . According to Bloomberg , bitcoin and other digital currencies are becoming more popular in countries like Zimbabwe as people lose faith in their local currency and financial institutions amid political and economic upheaval. "Bitcoin is a safe haven for people around the world who don't trust their governments," Andrew Milne, chief investment officer and co-founder of cryptocurrency-focused hedge fund Altana Digital Currency Fund, tells Bloomberg. "There are many countries where people are looking for an asset that isn't vulnerable to banks blowing themselves up.'' Golix, Zimbabwe's cryptocurrency exchange,processed more than $1 million in transactions in the past month, a tenfold increase fromall of 2016. It is an unregulated platformand prices for bitcoinand other currenciesare set by supply and demand, Taurai Chinyamakobvu, Golix's co-owner, tells Bloomberg. For years, Continue reading >>

Zimbabwe's First Bitcoin Atm Becomes Country's Only Source Of 'real' Currency - Bitcoinist.com

Zimbabwe's First Bitcoin Atm Becomes Country's Only Source Of 'real' Currency - Bitcoinist.com

Zimbabwe now has a Bitcoin ATM that is providing people with another way to buy and sell Bitcoin and Litecoin. The first of its kind in the southern African country, the 2-way ATM was deployed and activated in the first week of April 2018 and follows the nations growing interest in cryptocurrencies. The ATM was shipped into the country by the largest cryptocurrency exchange in Zimbabwe, Golix . It has been placed at Golixs customer support offices located in the business district of Zimbabwescapital city, Harare. Currently,users can only access it during weekdaysfrom 8 am to 5 pm but Golix has stated that it is set to move it to another location with 24-hour access. As far as continental strides go, Zimbabwe joins a very short list of African countries that have invested in such machines at one time or another. While a handful of countries like South Africa and Botswana reportedly deployed ATMs some years ago, at the present moment, Coin ATM Radar listsZimbabwes Bitcoin ATM as one of the only two that are active on the continent. the other one is in Djibouti. Cryptocurrency brings US Dollar and Cash Functionality to a Broken System The exclusivity of the ATM is hardly the focus, though. All the talk so far, especially in Zimbabwe , has been about how this ATM isactually dispensing cash specifically US dollars to sellers of cryptocurrencies. Zimbabwe has a lasting, nasty reputationfor having recorded the worst levels of inflation in modern history . In 2009 the country dropped its own currency which had reduced ordinary people into papertrillionaires. It adopted a multi-currency system that placed the US dollar as the base currency forfinancial services, including ATM withdrawals. Less than a decade later, the economy is now plagued by a severe foreign currency and cash Continue reading >>

Bitcoin Price Hits $26,000 In Zimbabwe As Countrys Sole Exchange Suffers Technical Fault

Bitcoin Price Hits $26,000 In Zimbabwe As Countrys Sole Exchange Suffers Technical Fault

Bitcoin Price Hits $26,000 in Zimbabwe as Countrys Sole Exchange Suffers Technical Fault Join our community of 10 000 traders on Hacked.com for just $39 per month. Bitcoin traders in Zimbabwe have suffered a setback owing to a technical glitch suffered by trading platform Golix, which is failing to process or cancel orders. Golix is the only bitcoin exchange platform in Zimbabwe and has attracted huge transaction numbers owing to foreign currency shortages in the country. Experts at Golix say bitcoin is being used to remit money to Zimbabwe as well as send money from the country as formal banking channels are out of foreign currency. But on Wednesday, the Zimbabwean bitcoin exchange suffered a glitch which has not yet been resolved. This also comes a day after Zimbabwe suffered a massive internet outage on Tuesday which saw applications and internet platforms taken offline. We are currently experiencing a technical fault andour technical team is currently investigating the problem. Until the problem is fixed you willtemporarily not be able to place or cancel orders, said Golix in an email to traders and users on Thursday. A Zimbabwean technology blog, Techzim , reported that users expressed frustration with the downtime as the exchange was not fulfilling any orders with no exact time having been committed to resolution of the issue. Golix has become a lifesaver for users in the diasporans who send money home as the premium on BTC fetches at much as 100%, way more than what the streets are giving, said Techzim. The Golix email to users and traders said however that users can still deposit or withdraw funds through the platform. Bitcoin prices in Zimbabwe have been above $15500 this week but todays soaring markets have pushed prices to an all-time high of $26,000. Zimbab Continue reading >>

Think Bitcoin's Getting Expensive? Try Zimbabwe

Think Bitcoin's Getting Expensive? Try Zimbabwe

November 13, 2017 / 7:10 AM / 7 months ago Think bitcoin's getting expensive? Try Zimbabwe HARARE (Reuters) - For most investors around the world, bitcoin is a volatile and highly speculative bet. For Zimbabweans, however, the cryptocurrency seems to offer rare protection from the onset of hyperinflation and financial implosion. Some are turning to bitcoin out of desperation as their bank deposits lose value almost by the day, while others are using the online currency for housekeeping such as funding family members studying abroad. The result is startling. Bitcoin's BTC=BTSP global surge to a record high of $7,888 last week - a sevenfold increase since the start of the year - has been spectacular enough. But on Harare's bitcoin exchange, Golix (golix.io), the price hit $13,900, a 40-fold jump in the same period. Warnings abound internationally that bitcoin may be a bubble waiting to burst. But the dire state of the Zimbabwean financial system under President Robert Mugabe is encouraging risk-taking. I have now changed all my reserves to bitcoin because that is the only way I can protect my investment, said Arnold Manhizwa, who works for an IT and telecoms company in Harare. The government adopted the U.S. dollar in 2009 after a bout of hyperinflation rendered the Zimbabwean dollar worthless, wiping out savings in the now defunct national currency. After a period of relative stability, acute shortages of dollar cash have set in, leaving Zimbabweans with electronic units in their bank accounts which are officially called dollars but have a far lower - and rapidly decreasing - value. In January if they wanted to buy $100 in cash they had to transfer $120 out of their account to a seller on the parallel market. Now the price is $180 in what are nicknamed zollars. GRAPHIC: Continue reading >>

Bitcoin Costs As Much As $13,000 In Zimbabwe - Nov. 16, 2017

Bitcoin Costs As Much As $13,000 In Zimbabwe - Nov. 16, 2017

Related: Mugabe's exit is 'a done deal' but Zimbabwe is still in limbo Elevated Bitcoin prices in Zimbabwe appear to be the result of the country's dysfunctional economy and mismatched supply and demand. Since 2009, business in the country has been conducted in a number of foreign currencies, but exchange rates on the thriving black market are highly distorted. Dollars are in short supply, and strict capital controls are in place. Last year, the country started printing bond notes -- backed by U.S dollars -- in a bid to ease a chronic shortage of cash. But many Zimbabweans worry they are a backdoor to the reintroduction of a local currency that would be doomed to massive devaluation. "In Zimbabwe, you are very limited with what you can do with the money in your bank account," Golix says on its website. "Bitcoin is better than the money we're using now." Related: How Robert Mugabe killed one of Africa's richest economies There is also the problem that local demand for Bitcoin far outstrips supply. Only 16 Bitcoin have been traded on Golix over the past 24 hours, and 160 over the previous month. Bitcoins are created through "mining" -- a process in which computers race to solve complex math problem, and winners are rewarded with chunks of the digital currency. Mining requires huge amounts of electricity, and Golix says that energy prices in the region are simply too high to make the process cost effective. "Bitcoin in circulation in Africa comes from people who bought it at an exchange elsewhere," the exchange says on its website. Supply is likely remain low, however. Golix doesn't allow Bitcoin sellers to take their money away in cash. CNNMoney (London) First published November 16, 2017: 9:55 AM ET Continue reading >>

Zimbabwe Doesnt Have Its Own Currency And Bitcoin Is Surging

Zimbabwe Doesnt Have Its Own Currency And Bitcoin Is Surging

Bloomberg the Company & Its Products Bloomberg Anywhere Remote LoginBloomberg Anywhere Login Bloomberg Terminal Demo Request Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Zimbabwe Doesnt Have Its Own Currency and Bitcoin Is Surging Cryptocurrency rises as high as $13,499 on local exchange Bitcoin sales climbed to more than $1 million in past month Robert Sinche of Amherst Pierpont Securities discusses Bitcoin and the political upheaval in Zimbabwe. Bitcoin climbed as much as 10 percent on Zimbabwes Golix exchange on Wednesday after the countrys armed forces seized power. The price of the cryptocurrency in the Southern African nation jumped as high as $13,499, almost double the rate at which it trades in international markets, according to prices cited on Golixs website . It traded at $13,010 by 3:34 p.m. in Harare, the Zimbabwean capital. Demand for bitcoin in Zimbabwe has surged amid a shortage of hard currency. Golix processed more than $1 million of transactions in the past 30 days, compared with turnover of $100,000 for the whole of 2016, according to data on the exchanges website. Zimbabwe doesnt have its own currency, with the government adopting the U.S. dollar and South African rand, among others, as legal tender in 2009 after hyperinflation rendered the local dollar worthless. Golix, an unregulated platform that also trades other cryptocurrencies including bitcoin cash, has been in operation since 2014. Prices for bitcoin Continue reading >>

Zimbabwes Only Crypto Exchange Aims For A National Digital Revolution

Zimbabwes Only Crypto Exchange Aims For A National Digital Revolution

Zimbabwes only Crypto Exchange Aims for a National Digital Revolution Cryptocurrency exchanges currently serve as the ideal gateway for entry into the ecosystem and therefore the designated channel of adoption into the mainstream. The effect of these exchanges in the financial solutions industry is obvious in a number of areas. Payments and clearance, remittances, operations and several other aspects have experienced one form of intervention or the other as a result of crypto implementation through exchanges. In the current stage of the industry, the numerous opportunities that abound are accessible through these exchanges. For instance, the speculative market that is mainly responsible for the price fluctuations and increasing trade volumes are traded on exchanges. Beyond that, the alternative to traditional financial systems being offered by cryptocurrencies are the major reasons behind the several political and institutional interventions being experienced lately in the industry. The reality is that there is a whole new financial ecosystem with several different aspects that wouldnt have been possible without the gateways created by the exchanges. So far in 2018, the ICO industry alone has consistently returned over $1 Billion revenue every month. This wouldnt have been possible without the role played by these exchanges that provide entry opportunities to newcomers in the industry. In order to participate in these ICOs and other crypto denominated opportunities, investors must first convert their fiat currencies to the denominated cryptocurrency (mostly ETH or BTC). This is where the crypto exchanges play an important role by offering the conversion opportunity. Same applies when converting from one cryptocurrency to another or from crypto back to fiat currencies. Continue reading >>

How To Get Bitcoin In Zimbabwe

How To Get Bitcoin In Zimbabwe

Homepage Finance How To Get Bitcoin In Zimbabwe by William Chui ( @ChuiWilliam ) Read 18 Comments There has been a craze for Bitcoin over the last few months with interest in the cryptocurrency being driven higher by the cash crisis in Zimbabwe worsens. There has been a lot of international interest in how much bitcoin trades for in Zimbabwe, premiums reaching as high as 85% here, though, in reality, the money we are using is not really real its all RTGS/transfer. There are a number of people who have gotten in touch with Techzim wanting to know how they can lay their hands on the digital currency, seeing that most of the banks are no longer allowing one to make online payments with their local VISA and/or MasterCard using bond notes. There are ways for Zimbabweans to buy bitcoins and if youre looking to build your position, depending on how aggressive you are, you could be having a couple of BTC (thats the acronym for bitcoin) and smiling all the way to the bank! The nation is slowly heading back to the days of 2008, where most of the citizens survived on being sent money from out the country, in order to help and assist. If you know friends and/or family who send money home often then you can ask them to send back that money in the form of BTC. If they are overseas, get them to open an account on Coinbase.com (get them to sign up through that link and theyll get $10 free) and go through the whole verification process. If in South Africa, Luno.com will sort them out. They will needto be in the country legally and have a bank account, in order to fund their account. Once they have bought BTC, youll just need to give them your bitcoin address and have them send the money there. Depending on the agreement you have with them, youll then need to pay the person whom they wa Continue reading >>

Bitcoin's Price In Zimbabwe Is Not Actually $13,000 Quartz

Bitcoin's Price In Zimbabwe Is Not Actually $13,000 Quartz

Bitcoin is apparently surging in Zimbabwe after the military seized power in an apparent coup . Bloomberg reports that bitcoin is trading in Zimbabwe at over $13,000, nearly double the global price of bitcoin. But thats not quite the whole picture. The price that Bloomberg and other media have quoted comes from a cryptocurrency exchange in Zimbabwe called Golix. The Golix website shows a wide spread between bids and asks, with the current price settling at around $13,500. But go to another marketplace for bitcoin in Zimbabwe and you will see much lower prices. Localbitcoins traders in Zimbabwe. (Localbitcoins) Golix appears to be the sole cryptocurrency exchange in Zimbabwe. But most markets that arent well served by exchanges, like Zimbabwe, usually have a thriving peer-to-peer scene. Thats what you see when you go to LocalBitcoins, the biggest global platform for peer-to-peer bitcoin trading. Zimbabwes LocalBitcoin brokers are quoting prices around $7,000, which is in line with the global price of bitcoin . Its the brokers who offer to settle transactions in cash, instead of online payemnts or via bank transfers, who are demanding a steep premium in Zimbabwe. They are asking for $17,000 to $20,000 a coin from buyers who pay them in physical US dollars. Bitcoin trades settled in cash on LocalBitcoins in Zimbabwe. (Localbitcoins) So what explains the inflated prices on Golix? Its probably just low liquidity. Golixs website shows that it traded just over 7 bitcoins in the last 24 hours, and about 147 coins over the last 30 days. Thats in contrast to tens of thousands of bitcoins traded over LocalBitcoins globally each month, or tens of thousands per day on the biggest US dollar exchanges , like Coinbase or Bitfinex. LocalBitcoins, in fact, has been rocketing in populari Continue reading >>

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