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Those living in the African nations of South Africa and Uganda will be able to place bets on their favorite FIFA World Cup teams by using bitcoin after news that Zimbabwe’s Golix Exchange has entered both markets.
*Bookmaker Welcomes Players From Around the World - Most Crypto-Currencies Welcome
Exchanges allow one to connect a banking account or service such as PayPal. Bitcoin wallets can bet tied to the exchange with bets placed between the wallet and the online bookmaker. Most of the major cryptocurrency exchanges discourage betting transactions directly with bookmaker or online gambling site, thus making the wallet setup most ideal. Likewise, it is never a wise option to hold cryptocurrencies in an exchange for long periods of time. Wallets are typically more secure for storage purposes.
The African nation of Kenya, which encompasses one of the world's largest sports betting markets, will also now have access to the Golix Exchange.
One will probably need a few days to set up the cryptocurrency accounts as most exchanges require a verification process for security purposes. The Bitcoin.com wallet is relatively easy to download and set up, however.
Though based out of Zimbabwe, Golix has faced a crackdown by that nation.
In a statement quoted by News Day, Golix head of growth, Panashe Tapera, noted that moving outside the country was part of a new strategy – the trading platform plans to expand operations across the entire continent. Tapera said:
"As part of our strategy, starting from Friday, June 1, people in Kenya, South Africa and Uganda will be able to start trading from Golix. This is one of our plans to be the leading exchange in Africa, which is inspired by the vision to provide financial autonomy in the continent."
- Aaron Goldstein, Gambling911.com
