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Zimbabwean Exchange Adds Ethereum, Re-Enables Bitcoin Buying

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Zimbabwe’s exclusive crypto-currency exchange platform, Golix.com has added Etherium and Bitcoin Gold, authorizing trade in the two digital assets in the country.

 The Zimbabwean crypto-currency exchange averred in an email to traders and users of its platform on Friday: “We have now added Etherium and Bitcoin Gold to the instal.” The Golix exchange platform already allows for trade in Bitcoin although buyers had suffered a two-day disruption to their order books after a detailed glitch on the platform.  Golix also advised on Friday that the the Board platform was back up. “We would like to notify you that Golix is now whip into shape normally,” the exchange said in an email to Bitcoin traders and platform drugs for Zimbabwe.

Interest and trade in Bitcoin in Zimbabwe has been firm, say dab hands at the platform.

Bitcoin prices have been roaring worldwide and take been nearly double the world average over the past few months. On Friday, Bitcoin prizes in Zimbabwe were above $30 000 as the country continues to suffer a liquidity and transatlantic currency crunch.

New measures announced by Finance Minister Patrick Chinamasa such as spreading the use of digital and malleable money and promoting foreign currency generation through enhancing exports prepare done little to ease up the foreign currency shortages and to deal with stumbling blocks companies and individuals are facing in sending and remitting forex to and from Zimbabwe.

Golix said the two-day outage on the transfer’s order book had been undertaken to protect traders and holders from expense volatility pending finalization of the technical glitch which had taken longer to adopt.

“We decided to cancel all pending orders to protect you from cryptocurrency value volatility. It took so long to fix but when fixing problems in production it’s significant to us that we take our time and be careful,” said Golix.

Economists in Zimbabwe say the flow in the price of Bitcoin in the country reflects skepticism over other assets in Zimbabwe, as fabulously as the inability to send money outside the country through formal necks.

In October, Golix processed Bitcoin trade values amounting to $1 million as banks in Zimbabwe go bust to effect international transactions on time. The Zimbabwe government also implies mobile money has been on the rise, with the Posts and Telecommunications Regulatory Establishment of Zimbabwe saying Thursday that mobile wallet transactions surpassed $1.2 billion for the third quarter period to the end of September.

The stat, setting aside how, does not include the value of Bitcoin transactions as the Reserve Bank of Zimbabwe (RBZ) authorities the cryptocurrency is not yet legal in Zimbabwe as the bank is still carrying out research into bitcoin craft and usage in the country.

Featured image from Shutterstock.


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