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Egypt's First Bitcoin Exchange Market Opens This Month

1 Bitcoin is currently equivalent to almost EGP 80,000.

According to a report by Reuters, Egypt's first Bitcoin exchange market will begin operating later this month, effectively enabling Egyptians to buy and sell the world's most-traded cryptocurrency in Egyptian pounds for the first time. The current market value of Bitcoin is soaring at $4,400, equivalent to EGP 78,000.

"Cryptoassets are happening whether the Egyptian government joins in or not. And by not joining they're missing out on a very big market. Currently Bitcoin is about a $70 billion market," Bitcoin Egypt's founder Amr Khalil tells Reuters, adding that the exchange has received 300 pre-registrations ahead of its planned launch later this month.

Bitcoin Egypt is a platform connecting Egyptians to the Bitcoin trading market, launched by Amr Khalil and co-founder Omar AbdelRasoul, according to Reuters.

Bitcoin is a worldwide cryptocurrency which allows peer-to-peer transactions unregulated nor monitored by central banks. Bitcoin miners and traders in Egypt number in thousands, they however are very secretive about their activities out of fear of government crackdown, as is the case in many countries around the world.

PhotoShutterstock


Todays Events
Wednesday Night    Live @    CJC   610
Bars
Date: 11/14/2018
Time: 10:00pm - 2:00am
Venue: Cairo Jazz Club 610
11th Panorama of the European Film
Film
Date: 11/14/2018
Time: 10:30am - 12:0am
Venue: Cairo
Boogie Night   @ Cairo  Jazz Club
Bars
Date: 11/14/2018
Time: 10:00pm - 3:00am
Venue: Cairo Jazz Club
Noha Fekry @ Jazz Bar
Bars
Date: 11/14/2018
Time: 9:30pm - 1:00am
Venue: Kempinski Jazz Bar
Paper Trails II @ Gypsum Gallery
Exhibitions
Date: 11/14/2018
Time: 12:00pm - 8:00pm
Venue: Gypsum Gallery
The Dancing Canvases @ Mashrabia Gallery
Exhibitions
Date: 11/14/2018
Time: 11:00am - 9:30pm
Venue: Mashrabia Art Gallery
Alexandrian Dream @ Mashrabia Art Gallery
Exhibitions
Date: 11/14/2018
Time: 11:00am - 8:00pm
Venue: Mashrabia Art Gallery
Sir Richard Bishop @ ROOM Art Space
Concerts
Date: 11/14/2018
Time: 9:00pm - 11:00pm
Venue: Room Art Space