So,
For anyone looking for opportunity, as I am sure most people are in this world, there are ways to make money doing dirty things, and there are ways to make money by playing it SMART.
At the moment I would like to focus on a small term known as ARBITRAGE.
I like definitions so to begin with, here is a simple definition from Google (Don't worry I know usually you're not supposed to reference Google, but this isn't a higher level dissertation :-p )
Arbitration: The simultaneous buying and selling of securities, currency, or commodities in different markets or in derivative forms in order to take advantage of differing prices for the same asset.
I like to work on proof, rather than just expecting to believe what I have been told , so I encourage you to do the same.
We have a high demand for Bitcoins here in Zim. Why ? Because it is nearly impossible to move money using the traditional banking channels as these cannot have their foreign Nostro accounts funded (combination of sanctions and trade deficit).
For those that are not too savvy in Economic term, to keep it simple, we do not have enough foreign money to enables us to make foreign payments.
One item that is proving to be a hit is BITCOIN. This asset can be moved at lightning speed, and more importantly, every country now has an exchange that one convert the coins into fiat.
---------- SIDE NOTE: Some day soon, when you can buy fuel, bread and other essentials using Bitcoin, there WILL BE NO NEED TO CONVERT TO FIAT! -----------
However due to the limited supply since there are not enough miners yet, and because it is very difficult to mine in Africa (heat ), Bitcoins are traded for a higher price locally than they are in the world. At the time of writing this blog, the
World Price of Bitcoin is : USD $8, 043
The price on the biggest Exchange in Zimbabwe is : USD $11, 899
I will allow you to do the math :-)
Zim Crypto exchange website 1: https://golix.com/markets/btcusd
Zim Crypto exchange website 2: https://www.styx24.com/
