Cryptocurrency ATM installed in Zimbabwe

[MoonyHexe]

https://www.iol.co.za/business-report/international/cryptocurrency-atm-installed-in-zimbabwe-14459889
INTERNATIONAL - Cryptocurrency exchange platform Golix has decided to  install a Bitcoin and Litecoin ATM in Harare.

Zimbabwe has a growing interest for cryptocurrencies as well as other countries in the region.

Zimbabwe is a country that was not able to deal with its own currency. The inflation rates reached 79.6 billion percent in 2009, the highest in the world. The 2-way ATM was activated in the first week of April in order to attend the growing demand for these virtual currencies.

Different countries in Africa have decided to deploy crypto-ATMs in their states.

At the moment, only Zimbabwe and Djibouti have functioning crypto cash machines. Zimbabwe had to switch to US dollars due to the fact that its currency suffered from severe inflationary problems. Bitcoin and Litecoin could help Zimbabwe to face the current problems the economy has by providing a trustful means of exchange to the population. The situation is not better years after the inflationary peak.

[12tribes]

This is an awesome development and clearly shows that the bitcoin revolution is not border constrained. This will open up new opportunities in Zimbabwe where this revolution has begun. Good news here.

[kenelmark]

some people here are asking, how can bitcoin help world economic. I think this is the right answer.
Bitcoin can become a currency for a nation which has lost their own currency due to monetary inflation. Bitcoin has become an international currency at this point. once again, technologies help the world to solve its problems. this can raise bitcoin reputation among economic discussions. and also will give positive mood to bitcoin markets.

[ahmadakbari]

Hopefully Bitcoin can solve the currency issue in Zimbabwe which has haunted the nation for the past decade

It's a good decision which has been made by Zimbabwe. But I don't think it can help them to control the inflation. There are many problems that must be solved. The gross domestic product must be grown in Zimbabwe. Bitcoin can be only a tool for people to use it for their sells and buys. It cannot help their economy.

[SaShiRaJaVu]

Zimbabwe is a country that was not able to deal with its own currency. The inflation rates reached 79.6 billion percent in 2009, the highest in the world. The 2-way ATM was activated in the first week of April in order to attend the growing demand for these virtual currencies.

It is a good news for the people of that country who is struggling with the political system and their inability to move the country forward, bitcoin is the only solution for people who are living in these types of situations and i am eager to know their long term position on bitcoin, even when the price of global exchange were close to $20k in peak time the exchange in Zimbabwe topped at around $26k because of the demand.

[jayco25]

https://www.iol.co.za/business-report/international/cryptocurrency-atm-installed-in-zimbabwe-14459889
INTERNATIONAL - Cryptocurrency exchange platform Golix has decided to  install a Bitcoin and Litecoin ATM in Harare.

Zimbabwe has a growing interest for cryptocurrencies as well as other countries in the region.

Zimbabwe is a country that was not able to deal with its own currency. The inflation rates reached 79.6 billion percent in 2009, the highest in the world. The 2-way ATM was activated in the first week of April in order to attend the growing demand for these virtual currencies.

Different countries in Africa have decided to deploy crypto-ATMs in their states.

At the moment, only Zimbabwe and Djibouti have functioning crypto cash machines. Zimbabwe had to switch to US dollars due to the fact that its currency suffered from severe inflationary problems. Bitcoin and Litecoin could help Zimbabwe to face the current problems the economy has by providing a trustful means of exchange to the population. The situation is not better years after the inflationary peak.

It is a great new the a lot of country now accepting virtual and start installing cryptocurrency ATM and I hope more ATM machine in all country in the future. I believed next 5 year price of crypto will rise so better invest now you can afford to lose.

#Taklimakan

[1nvestments]

https://www.iol.co.za/business-report/international/cryptocurrency-atm-installed-in-zimbabwe-14459889
INTERNATIONAL - Cryptocurrency exchange platform Golix has decided to  install a Bitcoin and Litecoin ATM in Harare.

Zimbabwe has a growing interest for cryptocurrencies as well as other countries in the region.

Zimbabwe is a country that was not able to deal with its own currency. The inflation rates reached 79.6 billion percent in 2009, the highest in the world. The 2-way ATM was activated in the first week of April in order to attend the growing demand for these virtual currencies.

Different countries in Africa have decided to deploy crypto-ATMs in their states.

At the moment, only Zimbabwe and Djibouti have functioning crypto cash machines. Zimbabwe had to switch to US dollars due to the fact that its currency suffered from severe inflationary problems. Bitcoin and Litecoin could help Zimbabwe to face the current problems the economy has by providing a trustful means of exchange to the population. The situation is not better years after the inflationary peak.

Thats amazing news ! All these countries in 3rd world would need this . Zimbabway is the perfect example of what over printing currency did to them ! I think its great there using bitcoin if it can help there econony .

[Ale88]

Very great news, I really hope that bitcoin and other cryptos can actually help their economy and reduce the huge inflation they have.

[Olrac]

great news like this one must be spread out all over the world in order to motivate and convince other countries that cryptos have been very helpful in the development of economy particulary of those third world countries. it is a good thing that they are open to changes by utilising crypticurrencies in everyday life. i'm sure that many citizens in zambabwe are happy as their life has become easy with atm cryptos.

[bajindul88]

Good news for Zimbabwean people, we know that money in zimbabwe is so low in value that it is sold in the traditional market. This is a solution for people to use bitcoin wherever located and haven't to bring money from zimbabwe who must carry some money bags.
Looking at the zimbabwe currency inflation rate is very high, bitcoin is the best solution to facilitate economic growth in zimbabwe. Good luck

[Kemarit]

How much is the fee though? The article didn't mentioned it. The reason why I asked is that I'm thinking that the fee's might be higher and might affect crypto enthusiast in Zimbabwe not unless they are really in a hurry. We all know that Zimbabwe is having a economic crisis  that's why bitcoin and other crypto has been flourishing because its been used as hedge and most of the time the price of bitcoin in their local exchanges are higher compare to the Western counterpart. I'm pretty sure that is really a welcoming news for them, because its makes sense to get alternatives like crypto's and Golix will make bitcoin and litecoin more accessible to the public. Zimbabwe crisis is a good use case on how crypto can be useful in a failed economy. But I will be cautious as to how much fee they are going to charge though, so its good to look at localbitcoins not unless you are in a emergency and needed USD so getting to a ATM is the only option.

[gobingo]

This is a very good decision taken by Zimbabwe, with developed crypto currencies I think this could better address their economy, and Zimbabwe needs to be copied in ATM crypto or bitcoin machines.

[virendarnagpal]

Currency is not responsible for inflation.  Economic / market / industrial / trading / financial are so many reasons which are responsible behind inflation.  Negative trust over the Nation's economy triggers or shoots up inflation.  So if we talk about inflation; we have to solve economic and social problems not mere change of currency will solve the issue.
Bitcoin ATM installation is welcome in Zimbabwe.  This will definitely be advantageous to foreign tourists using bitcoin.  Because they will not have to convert their currency to Zimbabwean currency which is weakening always.  They will have no worry for inflation.
But as far as the citizens of the country; there may not be any change in their economic problems due to bitcoin.  Because if production is low, there is unemployment, low business, low agriculture growth,, lesser exports, more imports what bitcoin will do in it.  It is the people of Zimbabwe and the Government who have to take effective positive steps, work hard to change the negative conditions to positive conditions.

[sate_padang]

With the bitcoin ATM I believe it will all bring good impact to Zimbabwe, and this will solve the financial problems that are happening in Zimbabwe, and I hope that more countries will use bitcoin ATMs.

[Sudarmoon]

Zimbabwe has experienced inflation and economic crisis is very large and apprehensive, and with this bitcoin ATM machine I think will be able to help Zimbabweans to quickly recover and develop.

[Nellayar]

People are underestimate Africa but in reality, African countries are more better than Asian countries, where do I belong. I expect that Africa will now belong to the top listed countries where the adaption to the global industrialization takes place.
I think putting up a crypto-ATM will not cause much an inflation and I am amaze because here in my country, I don't hear even a plan that crypto-ATM will exists.

[wongedon897]

i like you post. cryptos have been very helpful in the development of economy particulary of those third world countries. it is a good thing that they are open to changes by utilising crypticurrencies in everyday life.

[MinerHQ]

some people here are asking, how can bitcoin help world economic. I think this is the right answer.
Bitcoin can become a currency for a nation which has lost their own currency due to monetary inflation. Bitcoin has become an international currency at this point. once again, technologies help the world to solve its problems. this can raise bitcoin reputation among economic discussions. and also will give positive mood to bitcoin markets.

I didn't understand how bitcoin can become a currency of Zimbabwe (or any other country) just by having a Bitcoin ATM installation?

I do agree that bitcoin demand will grow up and many people may easily buy and sell with these ATM's and which indirectly increases bitcoin prices. The more and more countries start accepting bitcoins then market volatility also reduces because many small investors will be holding the coins.

[interna]

Nice to see this initiative being taken in your country at a time when some countries are passing strict laws against bitcoins. It just shows ho much confusion there is about the bitcoins as different countries have got different opinion for the bitcoins.

Crypto ATM will not only be helpful the the people living there but people are traveling there can also benefit from it. Now they need no carry a lot of cash or worry if the ATMs there will allow money withdrawals with their credit cards.

[Nilda]

I hope all governments would be as forward thinking as that of Zimbabwe’s when it comes to cryptocurrency. Instead of embracing the technology, some bureaucrats hinder its growth for some selfish reasons.