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Zimbabwe’s First Bitcoin ATM

Understanding BITCOINS

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What is Bitcoin?

Since anything digital can be copied over and over again, the hard part about implementing a digital payment system is making sure that nobody spends the same money more than once. Traditionally, this is done by having a trusted central authority (like PayPal) that verifies all of the transactions. The core innovation that makes Bitcoin special is that it uses consensus in a massive peer-to-peer network to verify transactions. This results in a system where payments are non-reversible, accounts cannot be frozen, and transaction fees are much lower.

Where do bitcoins come from?

We not go into depth about mining(inbox us if you want to learn how to), but here’s a very simple explanation: Some users put their computers to work verifying transactions in the peer-to-peer network mentioned above. These users are rewarded with new bitcoins proportional to the amount of computing power they donate to the network.

Zimbabwe & Bitcoins

The lift on the ban of cryptocurrency Reserve Bank Of Zimbabwe has now allowed investors to bring in ATM’s which dispense US Dollars which have been hard to come by, Furthermore a new breed of money changers have now started to surface trading USD for BITCOIN.

Zimbabwe has one Automated Teller Machine (ATM) dispensing cash by Golix (More are arriving), Zimbabwe’s first and largest cryptocurrency exchange, has introduced the country’s first ever Bitcoin ATM, which comes loaded with hard United States dollars.

It is the only ATM in Zimbabwe dispensing US dollars to customers selling Bitcoin, he says. location for the ATM at its offices along First Street in Harare.

Warning about Bitcoins

Bitcoins have a fluctuating rate Last weekend, the cryptocurrency saw a slump as it fell below $7,300, if you could imagine last year December 2017 bitcoin was trading for $19,500. You need to know how to trade it so you can make profits at the right time.

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