South Africa sees the first ASIC shop

Previous reports coming from South Africa suggested that the citizens of this country were interested in Bitcoin and other cryptocurrency investments. The local company called Bitmart decided to fill in the existing market gap and it has opened a first retail shop dedicated specifically for digital currency mining hardware, or application-specific integrated circuit chips (ASICs).

The shop also intends to sell physical Bitcoin wallets, which have their upsides (it’s usually impossible to hack them remotely) and downsides (they can be stolen just like usual paper money wallets). Bitmart, as reported by the media, also helps to install Bitcoin payment systems for organizations who wish to accept cryptocurrency. They themselves accept major cryptocurrencies as a means of payment for the mining rigs they sell.

The local authorities have not been recently seen voicing disapproval of cryptocurrencies, although in Tanzania and Nigeria, state regulators warned that to some degree, cryptocurrency investments are akin to gambling and people should be cautious. In Zimbabwe, Bitcoin has become $13,000 last year amidst the coup even before it has reached the same value worldwide.