Tag Archives: Bitcoin
A cryptocurrency app is to be launched by one of the world’s largest independent financial services organisations due to “soaring global demand” and in defiance of financial traditionalists.
by Sven Hammar, CSO, Apica System
The digital currency market is the biggest thing in recent times but seems to be a business reserved for the giant economies of the world. The market value of a bitcoin is well above what most countries; especially those in the global south can participate.
Zimbabwe’s economic crisis and financial difficulties are making cryptocurrency trade the new dawn in the payments and flow of money. With the huge liquidity issues here and there, most people have resorted to using bitcoin for transactions, especially for international trade and payments. This has also yielded results of increasing bitcoin prices – with a current trade price of about 9,000 USD against global trade price of about 5,000USD. The countries famous trade platform for bitcoin, Golix, says there is a higher demand than the supply within the cryptocurrency industry in Zimbabwe. She furthered to mention that Interest in bitcoin has peaked as people cannot send money outside or pay for international transactions using formal banks. Mobile money and other alternative means of transaction are not being fruitful.
Cryptocurrency still seems to be a tough concept to understand following its launch in 2009. Heading to a decade now, cryptocurrency has gained its root across the globe. While some countries have gone ahead to adopt their own cryptocurrencies, Bitcoin stands tall as the most popular cryptocurrency – having 40 percent of the total cryptocurrency market. As difficult it is for a layman to understand this concept, it is also very difficult to explain to a traditional finance person. However, individuals and businesses do not necessarily have to fully understand the concept of cryptocurrencies before enjoying the benefit. CEX.IO has built a long reputation in Bitcoin trade and enhancing a gradual understanding of its client to fully comprehend the concept of cryptocurrencies.
From being called a bubble to a fraud. Bitcoin is always the target of several influential institutions and personalities. It has gone through very hard times, and is still experimenting attacks, yet it keeps going strong.