Bitcoin alternatives guardian

Stephanie Findlay 07 Feb Banks were "very tedious" and payment companies "generally exploitative". While bitcoin and other cryptocurrencies have suffered precipitous falls in recent bitcoin alternatives guardian, the units remain popular in Nigeria where they make it easier to do business.

On the surface, digital coins may not seem like a good idea in a country where corruption is rampant and stacks of hard cash are often smuggled overseas. That may be because blockchain technology — public, online ledgers that underpin cryptocurrencies — is liberating Nigerians sidelined by the global financial system as it dramatically improves the ease of doing business.

Olaoluwa Samuel-Biyi, a slight year-old entrepreneur, looks the part of an aspiring corporate disrupter, dressed in skinny jeans with dishevelled hair. He first considered using cryptocurrency bitcoin alternatives guardian credit bitcoin alternatives guardian firms and other established payment providers refused to partner bitcoin alternatives guardian his global remittance company, deeming the venture too risky.

We have to go all around them to succeed. The tokens are used to buy vouchers, which may be used to purchase bitcoin alternatives guardian and pay bills at participating merchants anywhere in the world, cutting out cumbersome middlemen and eliminating fees. Sub-Saharan Africa has some of the highest remittance costs in the world, with the most expensive fees seen within the continent.

To send money from France to Mali incurs a five percent fee, a quarter of how much it costs to send from Nigeria to Mali. Such high fees have for years forced Nigerians to find alternative, sometimes risky, ways to transfer money. Bitcoin is technology that allows financial inclusion.

The depreciation of the naira, which has sunk to against the US dollar from bitcoin alternatives guardianhas made cryptocurrencies even more attractive — and the authorities are paying attention. Create Account Lost Your Password? Toggle bitcoin alternatives guardian Toggle profile. Business Nigerian cryptocurrency craze unfazed by bitcoin plunge Stephanie Findlay 07 Feb Banks were "very tedious" and payment companies "generally exploitative" Comments.

Nigeria Cryptocurrency bitcoins Bitcoin Investment Trust. National Paul Herman AG confirms 'De Lille exposed' post bitcoin alternatives guardian a fake. Africa Simon Allison National Sarah Smit As the wage battle plays out, where do other key demands stand?

Sport Luke Feltham Rugby still lagging behind. Rugby, hockey and tennis were among the codes which received poor ratings, while there were signs of improvements for cricket. Politics Ra'eesa Pather Mahumapelo's fate bitcoin alternatives guardian be discussed at ANC top six meeting. Bhekisisa Thalia Holmes Women who discard their newborns feel unsupported, often by the very professionals meant to counsel them.

National Iavan Pijoos Protea Glen residents warn off land invaders. On Monday morning, several roads in the area were barricaded with burning trees and rocks. May 4 to Business Sibongile Khumalo Business Khulekani Magubane Amdec shows Trillian the door at Melrose Arch, citing reputation fears.

The property development and investment group cancelled a lease with Trillian citing the potential for 'reputation damage'. Experts to present at first Security Summit in Cape Town. Want to publish your media releases here?

Lisa Steyn 10 Nov But this dramatic growth has only caused its critics to grow louder. Even though his warnings have been echoed by investment experts the world round, they appear to be falling on deaf ears.

A bubble refers to a quick rise in an asset price, which is unwarranted by the fundamentals of the asset and driven by enthusiastic market behaviour, which is then followed by a sell-off and a contraction in the price. Ingram said that investors need bitcoin alternatives guardian distinguish between the asset and the revolutionary technology behind it — blockchain.

Blockchain allows money to be sent safely and anonymously and is likely to revolutionise the way money is transacted. Cryptocurrency expert Mpho Dagada advocated for investment in the bitcoin and other cryptocurrencies, noting that the amount available is finite, which secures the value.

To date, million bitcoins have been issued, with only million ultimately available. Dagada said the value of the bitcoin has boomed, partly because of its rising popularity in financially strapped nations such as Zimbabwe and Venezuela, but largely because people see it as an alternative, safer way to transact.

Some were concerned about a bitcoin crash. Another was entirely unconcerned about talk of a bubble and a crash, saying: None were planning to cash in on their investment soon. The majority of the respondents Getting back to the bubble, Ingram said a burst has never be caused by one thing but rather a collection bitcoin alternatives guardian factors.

For those already invested in bitcoin, Ingram said they can still participate in the ride and make a profit by bitcoin alternatives guardian out half their money every time it doubles.

The treasury, the South African Reserve Bank, the Financial Services Board, the South African Revenue Service and the Financial Intelligence Centre have all warned the public to be aware of the risks of trading in virtual currency because there are no laws or regulations that bitcoin alternatives guardian their use and this, in turn, means there is no legal protection or recourse.

With bitcoin alternatives guardian many investment experts warning of an inevitable bitcoin crash, you would think shorting the cryptocurrency would be popular. Shorting, or short selling, is typically the sale of a security such as a company share, when an investor bets on a share price going down rather than up.

To do this the investor usually borrows a share with the belief that the price will decline. It is then bought back at a lower price, making a profit. Verster is known for shorting African Bitcoin alternatives guardian, which stopped trading when the South African Reserve Bank placed it under curatorship in August He said there are two ways to short bitcoin, though he cautioned against it.

One option is to borrow bitcoins from someone, promising to pay them back when they want them, and then sell the borrowed bitcoins on a bitcoin exchange for cash. If the bitcoin price drops, bitcoin alternatives guardian will cost you less to bitcoin alternatives guardian bitcoins when the person you borrowed them from demands them back.

Create Account Lost Your Password? Toggle navigation Toggle profile. Business Bulls shrug off bitcoin bubble Lisa Steyn 10 Nov Earlier this year, however, Japan passed a law to recognise bitcoin as legal tender. How bitcoin alternatives guardian bet against the cryptocoin — if you must With so many investment experts warning of an inevitable bitcoin crash, you would think shorting the cryptocurrency would be popular.

She holds a master's degree in journalism and media studies from Wits University. Her areas of interest range from energy and mining to financial services and telecommunication. When she is not poring over annual reports, Lisa can usually be found pottering about the kitchen. National Paul Herman AG confirms 'De Lille exposed' post is a fake. Africa Simon Allison National Sarah Smit As the wage battle plays out, where do other key bitcoin alternatives guardian stand?

Sport Luke Feltham Rugby still lagging behind. Rugby, hockey and tennis were among the codes which received poor ratings, while there were signs of improvements for cricket. Bitcoin alternatives guardian Ra'eesa Pather Mahumapelo's fate to be discussed at ANC top six meeting.

Bhekisisa Thalia Holmes Women who discard their newborns feel unsupported, often by the very professionals meant to counsel them. National Iavan Pijoos Protea Glen residents warn off land bitcoin alternatives guardian. On Monday morning, several roads in the area were barricaded with burning trees and rocks. May 4 to Business Sibongile Khumalo Business Khulekani Magubane Amdec shows Trillian the door at Melrose Arch, citing reputation fears.