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Cryptocurrency ATM installed in Zimbabwe

Business Report logo Business Report 2018-04-16 Bitcoinhub
a close up of a logo: File image: An illustration of bitcoin. (IOL). © Provided by Independent Media File image: An illustration of bitcoin. (IOL).

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. 

– Bitcoinhub

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