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<p>Several platforms are already enabling cheaper and faster transfer of money using cryptocurrencies like Bitcoin but no one has focused on non-cash remittances. For more CNBC Africa is joined by Samuel-Biyi, Director of Remittances at SureRemit.</p>


Nigeria’s SureRemit taps bitcoin for non-cash transfers

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<p>Cryptomanran visits the NYC Crypto scene and talks Ethereum with Tone Vays. Jimmy Song admits he may use BCH. Bitcoin breaks $15000.</p>


Cryptotrader EP 20: Bitcoin @ $15000. Next stop, the moon!

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<p>CNBC Cryptomanran brings you the latest Bitcoin and Crypto news from New York City? What&#8217;s next for Bitcoin, Is there more of a correction or are we going to the moon?</p>


CNBC Crypto Trader EP 19: Bitcoin Correction ahead?

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<p>CNBC Cryptoman is in New York meeting the who’s who of Crypto!</p>


Crypto Trader Extra for NYC: Bitcoin @$11K , Interview with Brian Kelly

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<p>Host Ran Neu-Ner takes his weekly plunge into the world of Crypto Currency trading where he chats to traders, ICOs and gives you, the audience tips and tricks on trading in Crypto currency.</p>


Crypto Trader Ep 18: Tether gets hacked, Bitcoin going to $20000

<p><iframe loading="lazy" src="https://www.youtube.com/embed/eKjnOi9BUiY" width="640" height="360" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<p>Host Ran Neu-Ner takes his weekly plunge into the world of Crypto Currency trading where he chats to traders, ICOs and gives you, the audience tips and tricks on trading in Crypto currency.</p>


Cryptotrader EP 17: Richard Branson & Mike Novogratz on Bitcoin and Crypto

<p>For most investors around the world, bitcoin is a volatile and highly speculative bet. For Zimbabweans, however, the cryptocurrency seems to offer rare protection from the onset of hyperinflation and financial implosion.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-290363 size-full" src="http://cnbc.africa/wp-content/uploads/2017/11/Bitcoin-Flickr..jpg" alt="" width="1024" height="684" /></p>
<p data-reactid="43">Some are turning to bitcoin out of desperation as their bank deposits lose value almost by the day, while others are using the online currency for housekeeping such as funding family members studying abroad.</p>
<p data-reactid="44">The result is startling. Bitcoin’s global surge to a record high of $7,888 last week &#8211; a sevenfold increase since the start of the year &#8211; has been spectacular enough. But on Harare’s bitcoin exchange, Golix (golix.io), the price hit $13,900, a 40-fold jump in the same period.</p>
<p data-reactid="45">Warnings abound internationally that bitcoin may be a bubble waiting to burst. But the dire state of the Zimbabwean financial system under President Robert Mugabe is encouraging risk-taking.</p>
<p data-reactid="46">“I have now changed all my reserves to bitcoin because that is the only way I can protect my investment,” said Arnold Manhizwa, who works for an IT and telecoms company in Harare.</p>
<p data-reactid="47">The government adopted the U.S. dollar in 2009 after a bout of hyperinflation rendered the Zimbabwean dollar worthless, wiping out savings in the now defunct national currency.</p>
<p data-reactid="48">After a period of relative stability, acute shortages of dollar cash have set in, leaving Zimbabweans with electronic units in their bank accounts which are officially called dollars but have a far lower &#8211; and rapidly decreasing &#8211; value.</p>
<p data-reactid="49">In January if they wanted to buy $100 in cash they had to transfer $120 out of their account to a seller on the parallel market. Now the price is $180 in what are nicknamed “zollars”.</p>
<p data-reactid="50">GRAPHIC: Devalued zollars <a href="http://tmsnrt.rs/2mwbtLU">tmsnrt.rs/2mwbtLU</a></p>
<p data-reactid="51">Nearly all domestic transactions are made via debit card or transfers using mobile phones. But some economists estimate inflation is more than 50 percent a month in zollar terms, far from the official, dollar-calculated rate of 0.38 percent.</p>
<p data-reactid="52">Zimbabweans are therefore piling into anything they think might retain value. Prices of cars, real estate and stocks have all soared, with the Harare bourse’s main industrial index doubling in the last two months.</p>
<p data-reactid="53">For people like Manhizwa, a 34-year-old father of two, bitcoin is almost a safe-haven asset. “If I have $500 in the bank I won’t get it back and I will be losing value, but when I have my bitcoin it is going up every day,” he told Reuters.</p>
<p data-reactid="54">Manhizwa, who participates in online chatrooms discussing cryptocurrencies, says he deposited $20 in bitcoin for his newly-born daughter a few months ago. Now it’s worth over $200. “If I put that money in a bank right now in Zimbabwe I will be left with nothing,” he said.</p>
<h3 data-reactid="55">CLEAR RISKS</h3>
<p data-reactid="56">Globally, the value of all cryptocurrencies is more than $170 billion and bitcoin, the biggest and best-known, has outperformed all traditional currencies every year since 2011, except for 2014. But many international investors still view it as an opaque instrument used by gun-runners and drug-dealers on the Dark Web that should be avoided.</p>
<p data-reactid="57">The risks are clear. After reaching the record peak, the international price of bitcoin slid over $1,000 in less than 48 hours last week. In Zimbabwe, the Golix exchange’s website showed at one point on Sunday that the price had tumbled below $11,000, a drop of around eight percent in 24 hours.</p>
<p data-reactid="58">But all this has to be compared with the zollar. “Many people view bitcoin, despite its volatile nature, as a better store of value,” said in-house Golix cryptocurrency analyst Taurai Chinyamakobvu.</p>
<p data-reactid="59">The same is true in other financially troubled countries such as Venezuela, where the currency has also been eroded by rocketing inflation, pushing bitcoin prices sharply higher.</p>
<p data-reactid="60">In Zimbabwe, bitcoin’s attraction looks set to endure after Mugabe fired vice-president Emmerson Mnangagwa last week, paving the way for his wife, Grace, to get to the front of the queue to succeed the 93-year-old. Mnangagwa had been given a mandate by Mugabe in 2015 to steer the economy and had backed former finance minister Patrick Chinamasa, who was trying to re-engage with foreign lenders such as the International Monetary Fund.</p>
<p data-reactid="61">FOREIGN PAYMENTS Besides acting as an inflation hedge, bitcoin’s attraction to Zimbabweans lies in the difficulty of making foreign payments due to banks capping or halting transactions by Mastercard and Visa cards. With bitcoin, Zimbabweans can bypass the need to seek foreign currency from the bank, and can even buy goods or services from the growing number of overseas merchants that accept the digital currency.</p>
<p data-reactid="62">The central bank, which has to approve official overseas transactions and prioritises necessities such as fuel and medicines, has previously said Zimbabwe had a backlog of more than $500 million in pending foreign payments.</p>
<p data-reactid="63">“A software developer that wants to buy a software download would never get that prioritised by their bank. They can use bitcoin to make payments,” Golix said in response to Reuters questions. “Others use it to send funds to their children in schools outside the country.”</p>
<p data-reactid="64">Some better-off families send their sons and daughters for secondary and university education in countries such as South Africa or Britain but they are struggling to support them due to the currency shortage.</p>
<p data-reactid="65">Golix data shows it handled bitcoin transactions worth $1 million in October.</p>
<p data-reactid="66">But it is a market from which foreigners are largely absent. Technically, overseas-based investors could buy bitcoin on the international market and sell them for almost twice the price in Zimbabwe. The snag is that payment would be in zollars.</p>
<p data-reactid="67">One analyst who is setting up a bitcoin trading desk at a Harare bank acknowledged that the local price appeared attractive, but added: “Once foreigners sell their bitcoin, they won’t have a way of getting their money out.”</p>
<div class="Attribution_attribution_o4ojT" data-reactid="68">
<p class="Attribution_content_27_rw" data-reactid="69">Reporting by MacDonald Dzirutwe; Editing by Ed Cropley and David Stamp</p>
</div>


Think bitcoin’s getting expensive? Try Zimbabwe

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<p>YPO member Magnus Mchunguzi, Director at Kwanza Group joins CNBC Africa to give insight.</p>


How to beat Nigeria’s FX crunch with Bitcoin

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<p>Crypto Trader brings you all the action from the Bitcoin and Crypto currency conferences held in Las Vegas, and interview the most influential woman in the Blockchain and learn how to evaluate an ICO.</p>


Cryptotrader EXTRA: Live from Vegas

<p>Bitcoin trade in Japan accounts for about half of the global trade volume. That number has surged since the government passed a new law earlier this year, recognizing bitcoin as a legal form of currency. CNBC&#8217;s Akiko Fujita reports.</p>
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Japan made bitcoin a legal currency – now it’s more popular than ever | CNBC Reports

<p><em>Jameel Ahmad | FXTM</em></p>
<p>It’s been another historic week for the price of Bitcoin. The crypto currency managed to climb to a new all-time high above $5000 on Thursday, before advancing above $5,800 during the early hours of trading on Friday morning. The most recent milestone represents a rally of nearly 800% over the past year and while critics of Bitcoin are unlikely to go away, there is no denying that the attention Bitcoin is attracting across the globe is warranted. While there tends to be a negative narrative around the asset in the media, there are some significant influencers who are charting a more positive line of commentary &#8211; politicians, central banks and even leading investment banks are showing more than passing enthusiasm for crypto currencies.</p>
<div id="attachment_122600" style="width: 1034px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-122600" class="wp-image-122600 size-full" src="http://cnbc.africa/wp-content/uploads/2017/05/Bitcoin-Flickr..jpg" alt="" width="1024" height="684" /><p id="caption-attachment-122600" class="wp-caption-text">Photo: Flickr</p></div>
<p>The exact point of departure for another aggressive price surge in Bitcoin is difficult to place, but there are a number of reasons that may have encouraged renewed buying interest. Reports earlier in October, suggested that Goldman Sachs might be considering opening a Bitcoin trading desk and this was seen as a leading institution being receptive towards the potential of crypto currencies. Given that investment banks are traditionally conservative, especially in the wake of the 2008 credit crunch, their interest is counteracting the dismissive comments. There have even been reports in the last 24 hours, that China might be considering reversing its ban on Bitcoin exchanges, something that if confirmed, would represent a remarkable turnaround, considering China’s ban on Bitcoin exchanges was seen as the sole catalyst for the decline to $3000 not so long ago.</p>
<p>The emergence of Bitcoin this year has been absolutely spectacular and the truth is, many are still unsure what the crypto currency really is. That includes myself, who is now needing to monitor the ongoing fluctuation in the value of Bitcoin because of how much attention it is gaining across both investors, and the financial headlines. However, I can understand why Bitcoin attracts criticism. It is not a conventional asset, and the ongoing volatility (it is not unusual for the price of Bitcoin to swing by 5+/- % in a matter of minutes) means that anybody who wants to invest in Bitcoin needs to be aware of the possible risks. This is a volatile instrument and due to traders not always understanding the risks around investments, it is only fair that commentators point out that Bitcoin is not regulated. Most regulators and senior officials have actually been caught off guard by the revolution of crypto currencies, because few believed that they would gain enough traction to warrant a regulatory framework.</p>
<p>It is no surprise that tech savvy Japan has embraced cryptos, and they are taking a leading role to develop a licensing program. Regulatory frameworks would represent a huge step towards the critics becoming more open towards the prospects of Bitcoin, and silence those who have claimed that Bitcoin is just a bubble and snake oil. Rumour has it that Amazon might be considering Bitcoin as a payment method in the future. They will not be the first major retailer to accept Bitcoins, companies from real estate firms to software re-sellers now accept the currency as payment.</p>
<p>There is a lot of hype around cryptos and some of the coverage is speculative in nature but if a leading e-commerce powerhouse like Amazon took the step towards accepting Bitcoin, it’s only a matter of time before other major online corporations follow suit. Predicting the future of Bitcoin and other crypto currencies remains an exercise in speculation, but it definitely deserves attention from investors. I doubt its spectacular rally is not over, but neither is another fall from grace on the back of market jitters.</p>


Bitcoin defies critics, hits further all-time highs

<p><iframe loading="lazy" src="https://www.youtube.com/embed/V56MFn5ktiM" width="640" height="360" frameborder="0" allowfullscreen=""></iframe><br />
Host Ran Neu-Ner takes his weekly plunge into the world of Crypto Currency where he chats to traders, ICOs and gives you, the audience tips and tricks on trading in Crypto Currency. This show is the first of its kind worldwide.</p>


Crypto Trader Ep 10: Taking Bitcoin markets

<p><iframe loading="lazy" src="https://www.youtube.com/embed/lmXVNQ_HA6k" width="640" height="360" frameborder="0" allowfullscreen=""></iframe><br />
Host Ran Neu-Ner takes his weekly plunge into the world of Crypto Currency where he chats to traders, ICOs and gives you, the audience tips and tricks on trading in Crypto Currency. This show is the first of its kind worldwide.</p>


Crypto Trader Ep 8: Bitcoin moves sideways after Chinese ban

<p>If JPMorgan CEO Jamie Dimon was trying to set off the bitcoin community with his criticism of cryptocurrency, he succeeded.</p>
<p>On Tuesday, Dimon called bitcoin a &#8220;fraud,&#8221; described it as &#8220;not a real thing&#8221; and said, &#8220;someone is going to get killed.&#8221;</p>
<p>Crypto enthusiasts took little time in firing back &#8212; on Twitter and on TV. We emailed Fred Wilson, a partner at Union Square Ventures and one of the first investors in bitcoin-related start-ups, to get his thoughts on Dimon&#8217;s comments.</p>
<p>&#8220;You have to have an open mind to be able to see the future,&#8221; Wilson said.</p>
<p>Venture capitalists and hedge fund managers that have joined in the crypto parade said that Dimon&#8217;s stance is a reflection of Wall Street&#8217;s defensive posture and attempts to downplay one of the biggest existential threats to the banking industry. Bitcoin is a decentralized digital currency that relies on blockchain technology and isn&#8217;t controlled by banks or governments.</p>
<p>There&#8217;s no doubt that it&#8217;s a volatile trade. Bitcoin is up more than five-fold in the past year, but has dropped by 35 percent this month. So when Dimon says, it&#8217;s &#8220;worse than tulib bulbs,&#8221; which experienced a massive bubble and burst in the 17th century, Dimon is comparing bitcoin to other overhyped assets.</p>
<p>Balaji Srinivasan, the CEO of bitcoin startup 21.co, said Dimon is ignoring the functionality of bitcoin. While it doesn&#8217;t have day-to-day price stability, lacks regulation and isn&#8217;t accepted at the corner store, the currency works across borders, can be programmed to track transactions in a more secure way and doesn&#8217;t require a bank account.</p>
<p>Srinivasan refers to bitcoin&#8217;s &#8220;10X features,&#8221; or properties that make it 10 times better than what&#8217;s currently in place.</p>
<p>&#8220;With one 10X feature, you have a contender,&#8221; he said. &#8220;With half a dozen, you have something special.&#8221;</p>
<p>Dimon&#8217;s comments at the Delivering Alpha conference followed a crypto clampdown in China, which reportedly plans to ban fundraising through initial coin offerings and trading of cryptocurrency on domestic exchanges. The news caused BTC China, one of the biggest online exchanges, to shut down on Thursday and sparked a slump in the price of bitcoin.</p>
<p>Meanwhile, Mohamed El-Erian, Allianz&#8217;s chief economic advisor, echoed Dimon&#8217;s sentiment this week and said bitcoin&#8217;s price should be cut in half.</p>
<p>Dimon has long been skeptical of bitcoin and has repeatedly criticized the value of the cryptocurrency. On Tuesday, he said bitcoin will be in a &#8220;limited market&#8221; because governments typically like to take control of their currencies.</p>
<p>Dimon said the underlying blockchain technology has more value, and JPMorgan has been exploring various uses of it.</p>
<p>The more fundamental difference between Dimon and the tech community may be in the way they define the widespread adoption of the currency. Michael Moro, CEO of digital currency trading firm Genesis Trading, said bitcoin could rise in value even if it fails to gain mainstream traction in more advanced countries like the U.S.</p>
<p>That&#8217;s because in much of the world, political and economic instability is so great that citizens are at risk of seeing their savings diminished or wiped out.</p>
<p>&#8220;It&#8217;s entirely possible for bitcoin&#8217;s price to be high because of the tremendous interest from South America, Sub-Saharan Africa and parts of Asia,&#8221; he said.</p>
<p><iframe loading="lazy" width="560" height="315" src="https://www.youtube.com/embed/Zmd__GZ71BE" frameborder="0" allowfullscreen></iframe></p>
<p>Erik Voorhees, CEO of Swiss-based digital asset exchange ShapeShift, said Dimon&#8217;s comment is a classic case of fearmongering because banks are concerned about bitcoin potentially taking away some of their core businesses.</p>
<p>&#8220;Jamie Dimon has every interest in the world in disparaging Bitcoin and working with his friends in government to regulate and suffocate it,&#8221; Voorhees said.</p>
<p>The threat is real, according to Ari Paul, co-founder of the newly formed BlockTower Capital. He sees bitcoin eventually displacing offshore Swiss and Cayman bank accounts that JPMorgan and other banks have opened for their wealthy clients. Trillions of dollars are held in such accounts.</p>
<p>&#8220;Cryptocurrency serves this function an order of magnitude better than the existing banking system,&#8221; Paul said. &#8220;I suspect that Dimon recognizes this, and is trying to delay the inevitable replacement of one his bank&#8217;s core services by a far more efficient upstart.&#8221;</p>
<p>The way most crypto enthusiasts see it, nothing Dimon says or does can stop bitcoin&#8217;s inevitable expansion across the globe and into more industries.</p>
<p>&#8220;Bitcoin is a bit like flood water,&#8221; said Union Square&#8217;s Wilson. &#8220;It&#8217;s hard to keep out of your society.&#8221;</p>


Bitcoin fans fire back at Jamie Dimon after ‘fraud’ comment

<p><iframe loading="lazy" src="https://www.youtube.com/embed/Zmd__GZ71BE" width="640" height="360" frameborder="0" allowfullscreen=""></iframe><br />
Host Ran Neu-Ner takes his weekly plunge into the world of Crypto Currency where he chats to traders, ICOs and gives you, the audience tips and tricks on trading in Crypto Currency. This show is the first of its kind worldwide.</p>


Crypto Trader Ep 7: Is China really banning Bitcoin Exchanges?

<p><iframe loading="lazy" src="https://www.youtube.com/embed/vGz1_QsmFNI" width="640" height="360" frameborder="0" allowfullscreen=""></iframe><br />
Bitcoin continues to rally, pushing the total value of all cryptocurrencies higher even as the wider markets are mostly red. What is causing this rally? To answer Crypto Trader Host Ran Neu-Ner is joined by Mark Kenigsberg, Founder of Bitcoin Chaser, and also chat to a team of experts for more.</p>


Crypto Trader Ep 5: Why Bitcoin keeps reaching new highs

<p><iframe loading="lazy" src="https://www.youtube.com/embed/HTfdr9BNifo" width="640" height="360" frameborder="0" allowfullscreen=""></iframe><br />
In this episode Crypto Trader Host Ran Neu-Ner is joined by Greg Morris, Ari Paul, CEO of RLB Systems to talk about Bitcoin mining, and also chat to a team of experts to discuss why the combined value of all traded cryptocurrencies has set a new record.</p>


Crypto

Nigeria’s SureRemit taps bitcoin for non-cash transfers

Cryptotrader EP 20: Bitcoin @ $15000. Next stop, the moon!

CNBC Crypto Trader EP 19: Bitcoin Correction ahead?

Crypto Trader Extra for NYC: Bitcoin @$11K , Interview with Brian Kelly

Crypto Trader Ep 18: Tether gets hacked, Bitcoin going to $20000

Cryptotrader EP 17: Richard Branson & Mike Novogratz on Bitcoin and Crypto

Think bitcoin’s getting expensive? Try Zimbabwe

How to beat Nigeria’s FX crunch with Bitcoin

Cryptotrader EXTRA: Live from Vegas

Japan made bitcoin a legal currency – now it’s more popular than ever | CNBC Reports

Bitcoin defies critics, hits further all-time highs

Crypto Trader Ep 10: Taking Bitcoin markets

Crypto Trader Ep 8: Bitcoin moves sideways after Chinese ban

Bitcoin fans fire back at Jamie Dimon after ‘fraud’ comment

Crypto Trader Ep 7: Is China really banning Bitcoin Exchanges?

Crypto Trader Ep 5: Why Bitcoin keeps reaching new highs

Crypto Trader Ep 4: Bitcoin mining – What is it and is it profitable?

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Crypto

Nigeria’s SureRemit taps bitcoin for non-cash transfers

Cryptotrader EP 20: Bitcoin @ $15000. Next stop, the moon!

CNBC Crypto Trader EP 19: Bitcoin Correction ahead?

Crypto Trader Extra for NYC: Bitcoin @$11K , Interview with Brian Kelly

Crypto Trader Ep 18: Tether gets hacked, Bitcoin going to $20000

Cryptotrader EP 17: Richard Branson & Mike Novogratz on Bitcoin and Crypto

Think bitcoin’s getting expensive? Try Zimbabwe

How to beat Nigeria’s FX crunch with Bitcoin

Cryptotrader EXTRA: Live from Vegas

Japan made bitcoin a legal currency – now it’s more popular than ever | CNBC Reports

Bitcoin defies critics, hits further all-time highs

Crypto Trader Ep 10: Taking Bitcoin markets

Crypto Trader Ep 8: Bitcoin moves sideways after Chinese ban

Bitcoin fans fire back at Jamie Dimon after ‘fraud’ comment

Crypto Trader Ep 7: Is China really banning Bitcoin Exchanges?

Crypto Trader Ep 5: Why Bitcoin keeps reaching new highs

Crypto Trader Ep 4: Bitcoin mining – What is it and is it profitable?

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