Interest in Bitcoin Soars in Egypt Amid Economic Crisis and Unemployment

Interest in Bitcoin Soars in Egypt Amid Economic Crisis and Unemployment

Gate Trade News Monday, October 5, 2020 47 1

A growing number of Egyptians are reportedly turning to bitcoin amid rising unemployment and the economic crisis. An Egyptian bitcoin community is seeing a huge spike in the number of members interested in bitcoin mining and trading.

 

Many Egyptians are drawn to bitcoin amid the coronavirus pandemic, economic crisis, and resulting unemployment, Al-Monitor news outlet reported last week.

 

A bitcoin mining and trading expert, Muhammad Abd el-Baseer, is a leading member of the Bitcoin Egypt Community, one of Egypt’s professional online communities for people interested in cryptocurrency. 

 

He told the publication that there has been a spike in the number of community members, indicating high demand for bitcoin mining and trading in Egypt. Noting that more than 16,000 Egyptians have joined the community