Cryptocurrency in Ethiopia

abdu1994

New member
Nov 16, 2022
1
1
1
The banks in Ethiopia, I mean all of them, don't do anything with crypto currency. For Example the commercial bank of Ethiopia literally doesn't know anything about crypto currency. It just focus on the money people deposit and loans it with high interest. Actually I myself don't blame the banks because cryptocurrency is not regarded as method of of payment in Ethiopia. Further more the cryptocurrency companies are not even licensed to do what they actually do in Ethiopia. Even though cryptocurrencies are not in the game, the banks are in well progress in digital payments and online transactions. I believe in the next 3 to 5 years the government will license crypto companies. I believe this because the way Ethiopians switched from using cash to online payment was dramatic, it just took few years so it will take few years for Ethiopians to switch to crypto. For now also at Paxful, we Ethiopians can somehow exchange Ethiopian Birr( the name of money in Amharic) (ETB) for BTC, either on desktop or via the Paxful Wallet app on iOS and Android. We can purchase Bitcoin from sellers in and outside the country and enjoy BTC rates on par or even below the current market price.
 
  • Like
Reactions: marilyn hayley

Natalia Mejia

New member
Nov 8, 2022
4
0
1
Hey, this information is very good, the quality of your contribution has been very good and with great quality, coherence and above all good information, it is very good, your contribution has been very fantastic and great, please continue sharing this type of content with us since it is very good and very professional, I have understood it topo and it gave me great knowledge thank you very much friend.
 

syedm12

New member
Nov 8, 2022
6
0
1
Ethopia is backward and undeveloped country. They are striving to come out from poverty. Politicians and democrats plays big role in these type of inventions. May They realize of this in future soon.
 

greatshot

New member
Nov 8, 2022
8
0
1
How sad is the case of the African continent in general in terms of technology and advances, I really hope that these years will improve a lot and advance a lot
 

Mehrozkhan

New member
Nov 18, 2022
1
0
1
Brother Payments in the form of cryptocurrency are not using sufficiently secure payment systems that are permitted by NBE. This shows that cryptocurrency companies are not licensed by NBE, thus cryptocurrencies are not regarded as payment systems in Ethiopia. Additionally, Given the anonymity attached to cryptocurrency payments, it is difficult if not impossible to trace back perpetrators involved in cryptocurrency payments or reverse the payment back to the consumer.
 

marilyn hayley

New member
Nov 10, 2022
5
1
3
In that part you are absolutely right... the banks manage their own currency of the country where they are... so what do we have to do when we win in cryptocurrency? Well, use a wallet to be able to change the crypto to our local currency and thus be able to deposit money in our bank in your currency... that's how the system works. Now if there are banks that I have seen that you can deposit your crypto in credit cards... I suppose they will make the change, right? I have not tried it because in my country that is not an option but I suppose that in other places it is more accessible to do something like that.
 

Juniorpc83

New member
Nov 10, 2022
2
0
1
Hoy en día las criptomonedas son una fuente importante de pagos a nivel mundial, a pesar de que hay naciones que no las aceptan de forma legal. El futuro de las finanzas se va a basar en las criptomonedas y las empresas asociadas a ellas, poco a poco han ido ganando confianza y ya se usan en muchos lugares como forma de pago