BTC to ZAR is rapidly becoming a popular convertible currency pair in South Africa and around the world. The ZAR is now a recognized legal tender in Namibia, Swaziland and Lesotho. The rapidly increasing Crypto market, featuring many highly speculative virtual currencies, is highly volatile, offering tremendous opportunity for savvy speculation. Here we will evaluate how Bitcoins and Zars work together to provide value to investors in Southern Africa.
The two currencies most often traded on the Forex markets include Bitcoins and Zars. Traders use different terminology for trading these, but the essence is that they are used to refer to the same thing, namely currency exchanges. A transaction is usually characterized by an address called the ‘wallet’ where you hold your private key to unlock funds. With a private key, you have access to your own funds, which are held in a digitally signed balance transfer transaction.
Once you have your private key, all you need to do is make money by selling the correct amount of bitcoins. Then, transfer the balance from your hands into your chosen brokerage account. You can then access your brokerage account to do your investing, or you can use your own online brokerage service if you prefer. No matter which method you choose, you must be aware that you will not receive any commissions on your trades.
By exchanging Zars for bitcoins, you are able to convert your Zars (real currencies) into USD using the current price in US dollars. This allows you to enter the market easily and effectively. When looking at the current price in USD against the number of rands, you will get an idea of what the exchange rate is. Most of the brokerages will provide this information for you free of charge when you open an account with them.
One of the benefits that comes along with the mining of the bitcoin protocol is the ability to mine for ether, which is referred to as thorium. This is another currency used throughout the world, namely in Australia, Canada, and the United States. The main source of thorium in south Africa is through miners that mine for gold, however, another source is through miners that mine for other precious metals, such as the platinum group. Because of the significant demand for this rare metal, in South Africa, investors have turned to the option of trading in the precious metal for the cheaper and more readily available thorium.
During the last few years, the trend has been for the gold and silver market to increase, whilst the demand for the lesser known but more widely-used etherium increases. So, the less precious metals that are mined, the higher the prices go, making the transaction between buyers and sellers more profitable. So, if you are planning on investing in the mining for the more highly-valuable metals such as the platinum and the gold, then you will need to make sure that you can get access to the market for the lesser metals as well. This is where the usefulness of the BTZ to ZAR transaction platform comes into play, as it makes it easier for the mining miners to access these precious metals for their own private use, rather than having to mine for them themselves.
Another benefit that comes along with this particular exchange is the ease of doing business with this system. In the traditional method of transacting with currencies, there is a need for huge amounts of money to be exchanged, and this process can take up to several days to complete. However, the transaction of the Litecoin for the ZAR using theBTZ to ZAR system is instant. Also, the currency conversion rate between the two currencies is very fast.
With the use of the Litecoin and the ZAR currency pairs, the African country of South Africa now has the option of choosing between the most profitable trading options. It is estimated that the Litecoin to ZAR ratio is at approximately 2.5 times faster than the average time required to trade in the traditional way. Furthermore, the lesser cost of the Litecoin compared to the gold makes it a much more popular choice among both miners and traders. This is actually the reason why there are more entrepreneurs investing in the venture and this is how the Litecoin to ZAR transition is taking place right now.