Despite officials in Zambia having concerns, elsewhere, uptake for Bitcoin and cryptocurrency in general has been strong and healthy. Ripple looks to be replacing SWIFT payments for some banks due to the ease and security that the faster payment method affords. Zambia’s central bank has said that cryptocurrencies like bitcoin aren’t legal tender in the country. The Bank of Zambia (BoZ), responsible for creating and implementing monetary policies for the world’s 105th largest economy, explained their stance against the use of cryptocurrencies in contrast to the growing public interests in the field. 2017 was the year when Bitcoin took over the world. After having a few successful years, the price for 1 Bitcoin started rising extremely fast, which is why millions of people started mining them and trading them for money. In December 2017, Bitcoin had the biggest boom since its inception and its price went higher than $19,000. For example, the Bank of Zambia (BoZ) tried last year to shut down the developing cryptocurrency market in that nation – but it proved impossible for the central bank to claim any authority over cryptocurrency investments or trading. Experts said that the banking act had no jurisdiction over Bitcoin as it transcended national boundaries. Zambians we are sleep. Why can’t you invest those monies on your own? Bitcoin (cryptocurrency) is a peer to peer thing, why involving third parties? Hit my inbox on +260969913981, I show you how to trade in cryptocurrency (bitcoin) without external interference. #TeamBitcoin #TheFutureIsNow
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