In this article, I’m going to share my thoughts on ZimboCash. There has been a buzz on social media. A lot of people are seeing a lot of links about ZimboCash. This makes many people wonder what is this ZImbocash all about. I’m just going to break it down for you so that you understand what is ZImboCash and how it works. If it is legit?, Is it a scam?, the future of it and other questions I get from a lot of people. Though individuals that are involved in online forex trading and Cryptocurrencies like bitcoin would understand Zimbocash much faster. I’m going to break it down from a layman’s point of view. If you are new to cryptocurrencies have a look at bitcoin for beginners course
What I’m going to share with you is not financial advice. Please go and check with your financial advisers for any help if you need it. Just get me right because there is money involved. I’m just gonna share my thoughts.
If you prefer to watch my video explanation for Zimbocash watch the video below
My first encounter with ZimboCash
As a cryptocurrency user, I have always been on the lookout for local (Zimbabwe) startups in the blockchain technology. After seeing some of the adverts and initiatives in 2018, I created a ZimboCash account. Since then I have been getting a lot of emails, didn’t pay much attention to them. I also saw a lot of buzz about it on the Internet, I didn’t pay attention to Zimbo Cash because of the other online projects I am working on until most of my friends came into my inbox/ messenger asking about my thoughts.
I didn’t have any feedback so I had to ask my other friends who are online forex traders in our WhatsApp group and facebook group about it. This led me to check my ZimboCash account I created in 2018 I saw a balance of 100 000 ZASH which is about $USD380+. Back then you would, create an account and get ZASH deposited in your account. I’m not sure right now if you create a new account you would get credit for how much. I was actually one of the first people that created an account. Understand this when I created my account back then 100000 ZASH had no value at all. But what made it so valuable today? we will talk about that soon. Why did they give me 100000 credit? There is a method called airdrops in crypto you can read this article from Investopedia to learn about it.
What is ZimboCash?
Zimbo Cash is a digital currency that is decentralized. It uses the blockchain technology. It can be used to buy goods and services as you would with money. Have a look at the video below You will get an idea of what Zimbocash is.
Who created Zimbocash?
Honestly, I am not sure. From what I’ve been reading on the Internet, it looks like the creators of Zimbo Cash are from South Africa. Check out this article there is an interview with Philip Haslam Behind ZimboCash, the cryptocurrency its backers hope will help save Zimbabwe
The Future of ZimboCash?
Is this something that you should actually pay attention to now? I think, yes, you should pay attention to it now because right now in Zimbabwe, we have quite a lot of cash challenges. ZimboCash works as an alternative currency that people can actually use to transact. Right now, I think it’s actually the beginning of the momentum for ZimboCash. If the initiative gets more adaptors (If more people and Businesses start using Zimbocash) then it means you would be grateful that you took part at this stage.
Why Is Zimbocash popular now and not back then?
It has been listed on major international cryptocurrency exchanges. Like Bithumb you can buy Zash from the webiste .These are of the factors that contribute to its popularity now in Zimbabwe. See the image below https://coinmarketcap.com/currencies/zimbocash/
Who is accepting Zimbocash as a form of payment?
I saw a facebook group where there a number of adverts and discussions going on https://www.facebook.com/groups/292986691853032/
If I have ZimboCash how do I get cash in hand?
You can actually exchange ZimboCash with someone who needs it, or you can actually start selling your goods and services for Zimbo Cash. I have seen a number of individuals who are looking for the currency. Have a look at Cgem I saw some trades going on there with ZimboCash. Cgem is a peer to exchange website where you can meet people who need to exchange currencies. If you need to dispose of your Zimbocash for ecocash, bitcoin, USD, or whatever currency you need you can do that on that website. See the screenshot below from Cgem
What about areas that do not have an internet connection?
When I was checking the website, you have to be connected to the Internet to use this service, but I really don’t know what’s going to happen to areas that do not have Internet access. Probably the Zimbocash team has the best answer to this.
Who should use Zimbocash because they stand to benefit?
I think every Zimbabwean living in Zimbabwe or the diaspora should try this out. That’s my opinion because, at the end of the day, you see what’s happening in our country in terms of money and all. You may need some alternatives.
Is Zimbocash Legit?
With the way, a lot of Zimbabweans are spreading the Zimbocash links encouraging others to create accounts. One would think this could be a scam. I being an affiliate marketer I understand that any business can use the referral marketing method to grow their business. Is Zimbocash a scam? In my opinion “NO’ it’s just an initiative that one needs to understand.
Should I join Zimbocash?
If you live in Zimbabwe or anywhere in the world, think of everyday cash challenges that Zimbabweans face. One way or the other there has to be a solution. We just don’t know what the solution is. Zimbo Cash could be a great alternative, No one knows. All I know is entrepreneurs are all about providing solutions to people’s challenges. My answer is yes just give it a try its free anywhere to create an account.
Create an account www.zimbo.cash
Have a look at Airtm
When a country is hit by inflation citizens tend to look for alternatives, Just like Venezuela. Have a look at airtm though it has been popular in Venezuela. It has been used by some Zimbabweans.
For the Zimbocash I have in my account I think I am going to keep them there and see if they increase in value. I will sell when I think the time is right. I have just shared my thoughts. If I missed out on anything please leave a comment below.