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Cryptocurrency ATM installed in Zimbabwe

File image: An illustration of bitcoin. (IOL).

File image: An illustration of bitcoin. (IOL).

Published Apr 16, 2018


INTERNATIONAL -  Cryptocurrency  exchange  platform Golix has decided to   install a Bitcoin and Litecoin  ATM in Harare. 

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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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