Writing this article was, without a doubt, one of the great personal challenges I set myself.
My goal is simply, to become an excellent blogger and use this platform as a means to an end.
I ended up, with the precious help of videos on YouTube, for getting involved with the theme, dedicating myself and being proud of this whole journey that for me is not over yet.
Digital currency in Mozambique
The issue of cryptocurrencies in Mozambique seems very unusual, due to the multiple scams that have been targeted by the Internet, a small part of people associate bitcoin and other crypto currencies with fraudulent schemes and the remainder see cryptocurrencies as a solution to financial problems. , generally every novice when hearing about investments in bitcoin cash (BCH) what comes to mind is the fact that they can take advantage of the valuation and never think about the possibility of devaluation which can bring high losses, unfortunately this is ours In reality, everyone seeks for exorbitant gains without first seeking the knowledge that is the key to success.
Well! My dear reader, before going into the matter at hand, I would like to explain to you about the concept of digital currency.
The concept of "digital currency" is not a novelty, it already existed through the context of online computer games, but it quickly evolved into "real" means of payment. Digital currencies are cryptocurrencies that are not regulated, issued or guaranteed by a central banking entity, but rather by a network of users (Marques, 2014); they are values that are stored and circulated on the internet and that offer accessible methods of instant payments and conducting business on a global scale (Davidson, 2016).
Athey (2015) argues that through the history of currency evolution, it is possible to observe that digital currencies have a revolutionary technology underlying capabilities to expand international trade and support financial inclusion. As fundamentals, it includes the fastest, cheapest and safest bank transfers that should complement the traditional banking system whose transactions are slower, more expensive and less secure, sacrificing the most impoverished society through, for example, sending remittances or the fact that many citizens do not have accounts bank accounts.
Consequently, concerns about credit card fraud prevent trade from breaking free through the sense of insecurity introduced, contrary to expectations - inclusion of micro-enterprises in global e-commerce.
In conclusion, the technology allows negotiation contracts with guarantees, in an intelligent way, which should boost the global electronic market (Porto Business School, 2017).
In this way the digital currency will be an effective way to increase freedom contributing to lifting many countries out of poverty, improving the lives of millions of people and accelerate the pace of innovation and inclusion in the world (Armstrong, 2016).
The proliferation of mobile phones (smartphones) created the opportunity to quickly bring the digital currency for almost every country in the world. Only a small percentage of the population living in sub-Saharan Africa enjoys the perks and convenience of bank payments by card, online and mobile, using cash payment. Given the lack of penetration of digital payments, consumers, banks and governments continue to bear the high cost that traditional payments entail
- costs associated with manual acceptance, registration, counting, storage, security and
transportation (Castellano, Kendall, Nikomarov, & Swemmer, 2015)
Ahh! Mozambique is in southern Africa and is bordered by the following countries: Zimbabwe, Zambia, Malawi, Tanzania and South Africa and is a country bathed by the Indian Ocean. Returning to the topic at hand, bitcoin cash (BCH) as much as other digital currencies are decentralized and there are no physical and legal financial institutions that regulate them other than a network called Blockchain, in Mozambique most people lack reliable information about them, we are a people that achieved independence a little over 46 years ago under the Portuguese domain, we have an economic growth that leaves much to be desired and a market economy however, in practice it is not what it seems, freedom of expression is just a mere theory and our regime is socialist but resembles the capitalist.
However, from everything I mentioned above, I believe that the difficulties in accessing information are the great Achilles' heel in our country and that makes the majority incredulous on the subject of digital currency.
Main brokers for buying and selling cryptocurrencies in Mozambique
Well, unfortunately in Mozambique we do not have brokers with access to cryptocurrencies and we have recourse to international brokers and free markets to buy and sell cryptocurrencies in a more traditional way (face to face) or groups existing on social networks such as whatsapp and the telegram is interesting that in the last 2 years the number of people interested in investments in Bitcoin and Bitcoin Cash (BCH) has grown considerably and this will help Mozambican families in some way.
Brokers most used in Mozambique are: Cex.Io, Coinbase and binance and they provide excellent services for cryptocurrency traders.
Imagem: from google
Attacks in Cabo delgado province in Palm
With the recurrent terrorist attacks in the country, the prices of digital currencies have skyrocketed, thus making buying them less traditional in traditional markets as well as in brokers due to high brokerage fees.
Thanks
I want to thank the dear reader for reading this article so far despite not being a good article creator yet! Putting an end to the article despite digital currencies being decentralized it is necessary to invest with caution because they are very volatile, and remember that all online investment is at high risk, invest with awareness of what you are doing and with total humility, remember to subscribe if you liked my content.
