The unique Zimbabwe’s cryptocurrency market platform, Golix.com added Ethereum and Bitcoin Gold, permitting trade with the two digital assets in the country.
The Golix cryptocurrency exchange announced in an email to merchants and users of its platform on Friday that they have now added Ethereum and Bitcoin Gold to their website. Golix market platform already allows for trade in Bitcoin although merchants had suffered a two-day disorder to their order books after a technical error on the platform. Golix also informed on Friday that the exchange platform was back. We would like to inform you that Golix is now working regularly, the exchange told in an email to Bitcoin merchants and platform users for Zimbabwe.
Bitcoin value has risen around the world and has been almost doubling the world average in recent months. Friday, Bitcoin values in Zimbabwe were higher than 30,000 USD, as the country proceeds to suffer liquidity and a foreign currency crisis.
New measures declared by “Finance Minister Patrick Chinamasa,” such as the expanse of digital cash and the promotion of foreign currency generation through increased exports, did not do much to alleviate currency shortages and to face the obstacles facing companies and individuals in sending and remitting forex to, from Zimbabwe.
The Golix stated the two-day cut-off of the stock exchange’s trading agenda was taken to protect traders and holders from price volatility, awaiting the completion of the technical problem that lasted longer for resolution.
“I’ve decided to cancel all pending orders to protect you from the price volatility of cryptocurrency. It took so long to solve, but when we solve problems in production, it is essential for us to take our time and be careful, told Golix”.
Zimbabwean economists say the rise in the Bitcoin price in the country reflects skepticism over other assets in Zimbabwe. As well, as the inability to send cash abroad through official channels.
In October, Golix processed 1 million dollars in Bitcoin, as banks in Zimbabwe are failing to make international purchases on time. The Zimbabwean government also says mobile funds has increased. Also, the Zimbabwe Post and Telecommunications Regulatory Authority announced on Thursday that mobile wallet deals exceed 1.2 billion dollars for the third quarter to end of September.
However, the state does not include the price of Bitcoin transactions, as the Zimbabwe Reserve Central Bank (RBZ), declares that cryptocurrency is still not legal in Zimbabwe because the bank continues to conduct research on Bitcoin trade and use in the country.