RATE Group | As Zimbabweans Struggle For Cash, Even The Country’s Only Bitcoin ATM Has Run Dry
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As Zimbabweans Struggle For Cash, Even The Country’s Only Bitcoin ATM Has Run Dry

02 Sep As Zimbabweans Struggle For Cash, Even The Country’s Only Bitcoin ATM Has Run Dry

Posted at 04:19h in Bitcoin News by

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As Zimbabweans Struggle For Cash, Even The Country's Only Bitcoin ATM Has Run Dry

Op-Ed

The Golix bitcoin ATM took on obvious importance when it was first introduced in the Zimbabwean capital Harare, early April. In a country without a currency of its own, where conventional automated teller machines (ATMs) have become useless due to a severe cash crisis, the bitcoin machine was seen as the new gateway to faster cash transfers and cash availability. Now, it is a ‘white elephant’ – unused and redundant. But Golix trudges on.

Also read: South African Tax Authority Going After Crypto Traders

A Digital Cash Machine Without Cash

As Zimbabweans Struggle For Cash, Even The Country's Only Bitcoin ATM Has Run DryThe ban on cryptocurrencies issued by the Reserve Bank of Zimbabwe (RBZ) in May of this year upset ambitious plans by Golix, the Southern African country’s biggest digital currency exchange, to…

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