As Zimbabweans Struggle For Cash, Even The Country’s Only Bitcoin ATM Has Run Dry


The Golix bitcoin ATM took on obvious importance when it was first introduced in the Zimbabwean capital Harare, early April. In a country without a currency of its own, where conventional automated teller machines (ATMs) have become useless due to a severe cash crisis, the bitcoin machine was seen as the new gateway to faster cash transfers and cash availability. Now, it is a ‘white elephant’ – unused and redundant. But Golix trudges on. Also read: South African Tax Authority Going After Crypto Traders A Digital Cash Machine Without Cash The ban on cryptocurrencies issued by the Reserve Bank of Zimbabwe (RBZ) in May of this year upset ambitious plans by Golix, the Southern African country’s biggest digital currency exchange, to mainstream virtual money, and to its bitcoin ATM – a novelty at the time – hardly four weeks after it had come online. Today, the machine no longer dispenses cash, or facilitates any trades at all, even though it can still be seen in the Golix offices in central Harare. There is no point, after all, to have on display a little piece of furniture if there is uncertainty about the future of cryptocurrencies in the country. Golix spokesperson, Nhlalwenhle Ngwenya, refused to comment about any operational issues, claiming such matters were still under litigation. The exchange is challenging the RBZ ban in the Zimbabwe High Court, a case still pending. But at the time the ATM was activated in April, Golix said: After realizing that the public is…
Source: As Zimbabweans Struggle For Cash, Even The Country’s Only Bitcoin ATM Has Run Dry

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