Zimbabwe citizens use bitcoin into the international market

Zimbabwe citizens use bitcoin into the international market


According to the Zimbabwe bitcoin exchange Golix YeukiKusangaya, Zimbabwe, more and more people are using bitcoin as a means of entering international markets. With bitcoin is more and more popular, and the importance of liquidity problems, the African countries, prices rose sharply, the monobit coins in the Golix on the transaction price of about $9900.

In Zimbabwe, a bitcoin transaction price of nearly $10 thousand

YeukaiKasangaya Golix has been discussed by developing in Zimbabwe bitcoin. Golix CEO TawandaKembo Golix said in October 1st this year changed its name to BitFinance, this decision is because the company believes bitcoin will not be the only successful digital currency”.

Kasangaya recently told local media, “the overall trend shows bitcoin’s increased interest”, known as the “most innovative normal growth trajectory”. Due to a shortage of cash and sustained hyperinflation resulting in most regions of Zimbabwe economy to a standstill, the Kasangaya report said, most of the Golix transactions electronically.

“There is no need to buy bitcoins for cash. Most people just use electronic means available in general. Therefore, bitcoin purchase is not affected by the current shortage of cash. If a seller wants to use cash to exchange bitcoin, they must find a cash buyer, and peer exchange.”

Zimbabwe citizens to bitcoin

Kasangaya said, Zimbabwe citizens are using bitcoin to access a variety of international market. Some people use it to pay the foreign service, such as software. For example, a local application development software engineer can use bitcoin payment of necessary software tools. Other people use bitcoin, for example they can be imported to a small business car…. The use of bitcoin is good, no foreign exchange to leave the country, under the same conditions to do that they need to go to the bank by telegraphic transfer… [this] reducing the nation’s current account balance pressure.”

Last week Kasangaya said to Quartz, “the present situation of bitcoin supply… Bitcoin’s interest has reached a peak, because people can not be outside the remittance, also cannot use the regular payment of international transactions. People have to find alternatives, but bitcoin has become a useful solution that can be used to buy Amazon goods, or buy a car from international suppliers and dealers.”

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