I am pretty sure you landed yourself on this blog post simply because you want to know more about bitcoin. This article solely serves the purpose of educating you about bitcoins in ZImbabwe and has nothing to do with financial advice of some sort.
You can also watch the video below if you are interested in how bitcoin works, especially in Zimbabwe.
What Is Bitcoin And How Does It Work?
Just like the Dollar, the Kwacha, or the Euro, Bitcoin is a currency. It is not just a currency though, it is a CRYPTOCURENCY . It is a decentralized digital currency, without a central bank or single administrator, that can be sent from one person to the next on the peer-to-peer bitcoin network without the need for any intermediary bank. I will not talk more about what Bitcoin is and how it works just click here for more.
A common method to Buy or Sell Bitcoin
This is the normal way of buying and selling bitcoins in other countries. Buying or selling bitcoin in Zimbabwe this way works to a certain extent but it’s not the best option for Zimbabwe. You may have limits to the amount of money you can spend on buying or selling bitcoins if you use banks to purchase. If you want to buy your Bitcoin for whatever purposes you want to buy it for, maybe because you want to use it for international payments, investments, and so forth, you must deposit cash into your bank account ( VisaCard, MasterCard ) and go to a website that sells Bitcoins, for example, Paxful, Spectrocoin, Airtm, Local Bitcoins. So after you have ensured that your debit card is loaded, you then go to the website and you buy the Bitcoin from the website of your choice and money will be deducted from your account and Bitcoin will be deposited into your bitcoin wallet. If you also want to sell your Bitcoin you go to the same websites and sell it then money will be deposited into your bank account again after the Bitcoin has been deducted from your Bitcoin wallet.
Best way to buy and sell bitcoins in Zimbabwe?
The best way to buy and sell bitcoins in Zimbabwe is to buy from people that are using bitcoins in Zimbabwe. There are a number of communities of forex traders, network marketers, and so on. These are the communities that use bitcoins mostly. When buying from people make sure you buy from people you like know and trust. There are several cases where transactions went sour. This is because people take advantage especially of those that are just getting started. I will repeat again only buy or sell bitcoin in Zimbabwe to people you like know and trust. Be part of social channels of people using bitcoins in Zimbabwe like whatsapp groups
Getting started with Bitcoins in Zimbabwe (VIDEO)
How to Invest in Bitcoin?
There are a lot of investment schemes that use bitcoin as a form of currency. Most Investment schemes are scams and if you make misinformed decisions by joining, it might turn out to be the worst decision you ever made for your money. Another way to invest in Bitcoin is to venture into Bitcoin Mining. Bitcoin mining is the process by which new bitcoins are entered into circulation and this process is done by some big powerful computers that you will learn more about if you click where it says bitcoin mining at the beginning of this sentence.
Should You Buy Bitcoin?
It is solely up to you whether you should buy bitcoin or not. I believe it is the future when we talk of trading currencies but go at your own pace. Bitcoin is spoken of a lot especially through investment schemes that I mentioned earlier. It might end up sounding as if bitcoin is a scam yet it’s not, where in actual fact some of the schemes that use bitcoin are scams.
How to Earn Bitcoin?
Just like BeForward has made Bitcoin a form of payment they accept. You can do the same with your business as well. Get online international gigs if you have something that you can offer virtually eg, DJ, Graphic Designer, Videographer, Photographer, Tutor, Choreographer, or anything as long as you find a way to land a gig, you can choose Bitcoin as a form of payment because it’s not only fast and hassle-free, it is also very cheap as compared to getting your money via Western Union or other traditional banking methods.
Here is an in-depth course I have prepared for you if you want to take the next step in knowing more about Bitcoin, how to create your Bitcoin mobile wallet, where to find your Bitcoin address, and how the price of Bitcoin changes. There is so much to learn before you can actually buy or sell bitcoins but it is absolutely doable.