Egypt has also switched to crypto. You When Again?

 More slow crypto traders, this time instead of Egypt!


It was reported that the population of Egypt began to move along with the investment of the world's main cryptocurrency, Bitcoin (BTC), after the slump and increasing levels of unemployment that hit the country.


Based on the record, the majority of new investors, consisting of young people, are interested in the digital asset as an alternative income, even though their number of investments is smaller compared to the high value of bitcoin.


The financial and economic adviser, Wael al-Nahhas explained that through a group of 100 million BTC every day, the amateur breeders managed to gain about 4% -5% profit.


This advantage is the difference between the purchase price when demand is short and the trade rate when demand peaks, apart from the annual rate gain from bitcoin's sudden spike.


Not also due to unemployment but the new work culture norm, namely work from home and work time that has been reduced to encourage Egyptians to invest in Bitcoin when the field season.



It is estimated that more than 16,000 Egyptians have joined the Bitcoin Egypt Community.


In fact, it is not impossible if this number is more than budgeted and the investors directly introduce crypto farms to their friends or family experts.


The coronavirus pandemic has rejected high unemployment rates from 7.7% in 2020's first tribe to 9.6% in second tribe, leaving more than half a million Egyptians out of work.