A Bitcoin for 13700 US$ – In Zimbabwe now

bitcoin Simbabwe

Update: Most 28. November to 13:40 Watch has the marketplace Golix.io a maximum of about 17.700 Reached US$ a Bitcoin.

Not all have the same value Bitcoins. In Zimbabwe, the price per coin is now even on about 13.700 US dollar increased by. What are the reasons?

The course of the Bitcoin experienced a soaring again. Round 8.100 Dollars are now user (Was Friday morning) ready, to pay for a coin of Kryptoleitwährung. This is much - at least for Germany.

In Zimbabwe, you get easy for a Bitcoin 13.700 $.

The Zimbabwean Bitcoin Exchange Golix.io is priced so well 75 Percent of the international market value and that for a long time. Actually, varying prices for Bitcoin on international stock exchanges are nothing unusual. The difference is rarely more than a percentage point. The market rules are only in Africa, for a price adjustment which have, part repealed. Different classes show up not only in Zimbabwe. Also in South Africa, five percent above the international average prices are not uncommon. In Zimbabwe, there are four reasons for the phenomenon: low liquidity, strong demand, a currency crisis and trade restrictions.

Promissory notes instead of a currency

The Zimbabwean economy is suffering from an unstable monetary system. Instead of hyperinflationierenden Zimbabwe dollars were 2009 the South African Rand, allowed the U.S. dollar and the Chinese renminbi as payment. Because Zimbabwe itself but not print this currency must and too little export, in the country, there is a lack of physical banknotes. Instead Zimbabwe introduced bills in the past year as a parallel currency, you however are in danger of hyperinflation. That's why people are looking for other opportunities, their ability to apply. Even a hugely volatile Kryptowährung such as the Bitcoin is there sometimes more attractive than a hyper-inflationary quasi-currency. Even some foreign, African companies Meanwhile insist, to get their products in Bitcoins paid. Rather, take a loss in value of knapp 50 Percent in purchasing, If they send him digital over the border.

Since the trading volume of Bitcoins in Zimbabwe also well below the big markets such as the United States, Is Germany or Japan, vary the prices more. During the writing of this article alone, the price of Bitcoins in Zimbabwe changed to 2.300 $. In the last month were on the Golix stock exchange but only slightly more than 100 Bitcoin worth of round 1,5 Million dollar traded - and also mostly in small amounts. Usually somewhat higher prices than on the world market prevail at low liquidity in small markets in.

Hurdles for foreign traders

Foreign traders can benefit from the stark overpriced "Zimbabwe Bitcoin" hardly. A Zimbabwean bank account is required for trading on the Golix stock exchange. Who then transferred to the Golix Exchange Bitcoins and overpriced sold, but another problem has: In fact the money would be "trapped" on a Zimbabwean account then. Payment in US dollars is difficult to spot due to the rare dollar bills. ATM type rarely more than 80 Dollars a day per customer out. Also, the money would have to cross then the border - in cash or digital-. Even the Government has problems due to lack of funds but sometimes, To transfer money abroad. The huge difference in price can be used due to limitations not easily of foreign traders from. That's why the market has not long again offset the strong difference in price of Bitcoins in Zimbabwe and the rest of the world.

The case of Zimbabwe should be but most interesting for the crypto community. Round 80 Percent of Zimbabweans have a Smartphone. The infrastructure for the processing of daily payments via Bitcoin would therefore. The Kryptowährung is therefore increasingly under pressure from an ailing currency system, to establish - as an alternative means of payment and the much faster than in developed markets such as Europe and the United States.

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