South Africa Archives - Bitcoinist.com

Tag Archive: South Africa

Altcoin News, Bitcoin, News, News teaser
South African Crypto Scam Update: A Bashful Bitcoin Fraudster and More than $80m Missing

It’s been nearly three months since news broke of a multi-million-dollar cryptocurrency scam in South Africa. Let’s take a look at some of the latest developments. In March of this year, we reported on a massive Ponzi scheme in South Africa which affected nearly 28,000 crypto investors. The company at the center of it all, BTC Global, promised investors ridiculously high returns on their investments and through these promises, managed to scam victims out of more
Read More
Nikita Blows · May 29, 2018 · 4:00 am
Bitcoin, News, News teaser
13-Year-Old Bitcoin Kidnapping Victim Found Safe

A young 13-old-year boy who had been kidnapped last Sunday in South Africa has been found safe and sound. His kidnappers had demanded a Bitcoin ransom of roughly $120,000. There is likely no greater fear for a parent than to have their child abducted and held for ransom. Far too often, such crimes end in tragedy. Fortunately for a young man in South Africa, his kidnapping has a happy ending. Grabbed While Playing Katlego Marite,
Read More
Jeff Francis · May 26, 2018 · 3:00 am
Altcoin News, Bitcoin, Emerging Markets, Ethereum, News, News teaser, Technology
South Africa Gets Its First Multi-Currency Crypto ATM

As cryptocurrency interest and trading continues to grow in South Africa, some retailers are hoping to cash in. The country will soon be the second in southern Africa to launch a crypto ATM. After February’s election of Cyril Ramaphosa as South Africa’s new president, things seemed to be looking up. However, the country is now facing new challenges with the ongoing land reform debate as well as continued allegations of corruption in the country’s government.
Read More
Nikita Blows · May 19, 2018 · 4:00 am
Altcoin News, Bitcoin, Bitcoin Investment, News, News teaser
2018’s Bear Market Hasn’t Dissuaded New Cryptocurrency Investors in South Africa

While plenty of individuals around the world undoubtedly got scared off after buying at all-time highs and subsequently watching the value of their cryptocurrency holdings take a nosedive, one recent survey in South Africa suggests the negative consequences of early 2018’s bear market haven’t dissuaded the uninitiated from testing the waters. Still Interested South Africans who have yet to invest in cryptocurrency are still planning on investing in the young market, according to the MyBroadband
Read More
Adam James · May 13, 2018 · 5:00 pm
Bitcoin, Bitcoin Price, Markets and Prices, News, News teaser, Technology
San Francisco Fed Head: Crypto Is Not A Currency

The head of the Federal Reserve Bank of San Francisco believes that crypto lacks the core features required to define them as a currency. Late November and most of December last year saw both crypto cynics and enthusiasts wait with bated breath to see where Bitcoin’s price would soar to next. The latter group was not disappointed as the darling of the crypto world touched the $20k mark. In all of the excitement, it might
Read More
Nikita Blows · April 22, 2018 · 5:00 am
Bitcoin, Bitcoin Education, Bitcoin Exchange, News, News teaser, Sponsored Article
Paxful Celebrates News of Noted South African Business School Accepting Bitcoin

Paxful knows that Bitcoin in Africa is making a difference, as is evident by a South African business school now accepting the virtual currency for tuition. There are a number of factors that can help determine one’s success, such as determination, education, wealth, intelligence, and even luck. Out of these factors, education is often the one that most people have trouble with. They may lack the time, money, or opportunity to gain a proper education
Read More
Jeff Francis · April 3, 2018 · 8:00 pm
Bitcoin, Emerging Markets, News, News teaser
Bitcoin Popularity Surges in South Africa Amid Political, Economic Turmoil

Bitcoin’s popularity is soaring in South Africa where it is being viewed as a safe-haven from increasing political and economic uncertainty. South Africa: Economic Uncertainty Boosts Bitcoin The issue of land reform in South Africa has become a source of concern following the election of new president Cyril Ramaphosa last month. It remains a highly-politicized topic along racial lines even twenty years after apartheid ended. Now Ramaphosa’s party, the ruling African National Congress (ANC), has vowed
Read More
Allen Scott · March 12, 2018 · 7:00 am
Bitcoin, News, News teaser
Over $50 Million Lost in South African Bitcoin Scam

Roughly 27,500 cryptocurrency investors from South Africa, Australia and the US have been duped by a large-scale Bitcoin scam — with reported losses upwards of $50 million. The Directorate for Priority Crime Investigation spokesman Captain Lloyd Ramovha confirmed yesterday that investigations have been launched against BTC Global after reports of large-scale fraud have come flooding in. BTC Global has allegedly made off with over $50 million in Bitcoin transferred into an online wallet address. Confirmed
Read More
Adam James · March 2, 2018 · 1:00 pm
Bitcoin Taxes, Blockchain Technology, News, News teaser
South African Revenue Service Has Their Eye on Your Bitcoins

The South African Revenue Service (SARS) is showing a keen interest in monitoring crypto trading in the country through blockchain-based technology. SARS has a fickle relationship with the people of South Africa, which is quite common between the average person and the tax man. South African citizens have to submit a (hopefully) true and honest financial declaration, which could result, depending on the information given, in said citizens paying SARS a certain amount of money. However,
Read More
Nikita Blows · December 15, 2017 · 5:30 pm
Altcoins, Bitcoin Regulation, Legislation, News, News teaser
South African Reserve Bank Planning to Test Cryptocurrrency Regulations

The South African Reserve Bank(SARB), has officially announced its plans to experiment with cryptocurrency and Bitcoin regulations. Adopting Digital Currencies Back in February 2017, the South African Reserve Bank discussed the possibility of issuing a digital currency based on the blockchain technology. The SARB was actively observing countries that had issued their own digital currency. To date, Tunisia was the only country that had officially launched a digital currency based on blockchain technology, the eDinar. The SARB
Read More
Ashour Iesho · July 22, 2017 · 6:30 pm
Altcoins, Emerging Markets, News, News teaser
Racially Segregated ‘Whites-only’ Micronation Seeks Digital Currency

A controversial small town in rural South Africa, infamous for its racial segregation, has identified the value of digital currencies for their microcosmic economy. Orania, a bastion of white supremacy in a country that abolished Apartheid 23 years ago, is looking to move with the times in terms of technological economic growth, despite still remaining backward socially. Established in 1991, ahead of the impending democratic elections in South Africa, Orania is classified as a self-sufficient
Read More
Darryn Pollock · July 17, 2017 · 6:30 pm
Blockchain Technology, FinTech, Legislation, News, News teaser
South Africa Latest to Consider Creating National Digital Currency

One more nation, South Africa, is making the first step of migration to a fully digital economy, speaking about offering their own national digital currency based on blockchain technology. South Africa Looks to Digital Currency There are many advantages to nation-states, both stated and unspoken, to head in the direction of a national digital currency. The chief executive of the South African Reserve Bank (SARB) said that this would include more inclusion and economic reach,
Read More
Evander Smart · February 4, 2017 · 8:00 am
Bitcoin, Bitcoin Breaking News Brief, Bitcoin Businesses, Breaking Bitcoin News, Breaking News, News, News teaser
LocalBitcoins Volume In South Africa Shows 50-fold Growth In One Year

The concept of Bitcoin has been attracting attention from all over the world in recent years. Digital currency provides a way to achieve financial freedom regardless of one’s location or access to existing services and platforms. South Africa seems to be taking a serious liking to Bitcoin in recent weeks, as the LocalBitcoins trading volume keeps spiking week over week. Also read: London Bitcoin Forum – The Conference for Bitcoin & Blockchain Innovations – Kicks
Read More
Jp Buntinx · February 29, 2016 · 5:01 am