You can now purchase bitcoin through Mumba Money, and invest in a crypto that is not affected by instability among common currencies
Mumba Money Reporter
Mumba Money, Zimbabwe’s newest financial services provider which is aiming at making it big on the international monet market – has revealed this week that it is opening up new avenues for Zimbabweans to mine bitcoin.
A statement from the company this week said that Mumba Money – which is already offering innovative peer-to-peer money transfers for Zimbabweans in the diaspora – was now expanding its product range to include bitcoin.
“As a country, Zimbabwe has had different experiences with bitcoin and we all know that Golix has had a mixed response in Zimbabwe.
“So what Mumba Money has done is to revisit the whole bitcoin offering, and come up with newer, simpler approaches for Zimbabweans aiming at investing in bitcoin.
“So we are saying, don’t worry about all the turmoil on the financial markets out there. You can now purchase bitcoin through Mumba Money, and invest in a currency that is not affected by current instability among common currencies,” the statement said.”
“We know how hard you work, so we’re making it easier for you to send money to family and friends. We’ll get your money to those who need it conveniently, quickly, securely, and at the best exchange rates – making sure your hard-earned money goes further.”
The crypto market edged higher this week and rebounded above the $39 000 level after plummeting to less than $32 000 on Sunday. Shares of the world’s largest cryptocurrency jumped more than 20% to $39 739.40 this week, according to Coin Metrics, after Tesla CEO Elon Musk and MicroStrategy CEO Michael Saylor tweeted about meeting with North American bitcoin miners about “sustainability initiatives.”
Ether, the world’s second most popular cryptocurrency, rose from less than $1,800 on Sunday to over $2,600 on Monday. It was trading around $2,647.53 by 4:07 p.m. ET – up 34.7%, according to Coin Metrics. Elsewhere, dogecoin also showed signs of recovery, with its price rising from 24 cents on Sunday to 36 cents on Monday.
Broadly speaking, the crypto market was a sea of green throughout the week, with just a few lesser-known coins trading in flash 24 hour-cycles.
Last week’s crypto sell-off came after authorities in China and the US moved to tighten regulation and tax compliance on cryptocurrencies – but this on its own is doing little to deter the strength of the crypto.
This week Tesla billionaire and cryptocurrency advocate Elon Musk said he was no longer involved with an industry group of bitcoin miners that he helped launch.
The Bitcoin Mining Council, formed of the leading mining groups in North America and other crypto supporters such as software firm MicroStrategy, said in a message on its newly-published website on 10 June that Musk has “no role” at the council.
The extent of Musk’s involvement was “joining an educational call” to discuss bitcoin mining with a group of companies, the BMC said.
The group was established in the wake of comments by Musk disparaging bitcoin’s environmental impact, which caused the crypto currency’s price to fall significantly.
Several other major flash crashes in crypto tokens followed, leaving bitcoin around the $37,000 markdown 43% from its April all-time high of $64,829.
Golix, formerly BitFinance, is a Zimbabwe-based bitcoin exchange startup whic has been operating in the cryptocurrency for a few years. Golix makes it easy to buy and/or sell Bitcoin no matter what money service is being used.
More news next week.
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