Additionally, the lack of cryptocurrency regulation by the Botswana government and its unwillingness to adopt Bitcoin and other cryptocurrencies makes Bitcoin trading in Botswana challenging. Bitcoin is not outlawed in Botswana.
However, there are no regulations for cryptocurrency dealings. Hence, if you have to transact using Bitcoin, you will have to source Bitcoin via P2P or other informal means. To encourage the adoption of Bitcoin in Botswana, Dr. Donald Ariisa of Shahdara Clinica private hospital in Botswana, has decided to accept payment in Bitcoin, making him the first medical practitioner to accept Bitcoin as a means of payment.
One such early startup is bitcoin trading botswana Satoshicenter, a blockchain startup established by Alakanani Itireleng in to provide blockchain services to the Botswana populace. bitcoin trading botswana
An offshoot of Satoshicenter is Plaas which aims to help farmers and agric societies manage production, daily activities, and bitcoin trading botswana through blockchain adoption. This is a welcome relief compared with the long, arduous journey to neighboring South Africa or relying on families and friends outside of Botswana for Bitcoin purchases.
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However, the most popular means of transacting Bitcoin is via Peer-to-Peer mode on various WhatsApp groups and other social media platforms. However, this means of transaction is unregulated with no control of scam activities.
Will Botswana Ban Bitcoin? The bank of Botswana is not interested in regulating cryptocurrencies and, it has no intention of banning cryptocurrencies in the country.
The central bank governor is likely to follow the trend by providing regulations for cryptocurrencies and cryptocurrency exchanges in the future.
However, it cannot declare a ban on cryptocurrencies and related activities since it does not control the internet. Bottom Line The Botswana populace continues to push for the widespread adoption and regulation of Bitcoin; this has yielded much dividend with the installation of Bitcoin ATM, the establishment of Satoshi center and other Bitcoin startups, and the proliferation of Bitcoin exchanges and P2P platforms.