UGANDA Bitcoin in Uganda as a form of gambling 3 years ago Samuel Post Views: 1,461 Bitcoin is presumed to be a form of gambling because it involves the use use of currency with hopes of gaining after acertain preferred time as stated by the company invoved. Most time people assume that when they stake a certain amout of money they will get back what is presumed calculated outcomes like that of crypto currency where people are assured of points to win at every level they want. The true basis of this kind of money venture is not assured, questions have been asked as to where are they investing the exchanged money into bitcoins, how does it work so in Uganda after being the first country to legalize this bitcoin in Africa, at the same time after a while its warning people of indulging or involving themselves in bitcoin. If you as yourself what is gambling, and what is considered as gambling a will add bitcoin / crypto currency into this group of gambling as another form of gambling. Of late the minister of finance in Uganda warned people of this so called bitcoin Matia Kasaija. Back to question, what is considered as gambling? Gambling is the wagering of money or something of value (referred to as “the stakes”) on an event with an uncertain outcome, with the primary intent of winning money or material goods. Gambling thus requires three elements to be present: consideration (an amount wagered), risk (chance), and a prize Is investing in crypto currencies gambling? Crypto currencies are a fairly new investment class and to some putting your money into Crypto is anything but investing, but rather gambling. In fact, many respected investors, like Warren Buffet, have spoken out against Bitcoin and declared it as being gambling. Source: cnbc.com About Post Author Samuel I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. See author's posts SamuelI am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. Facebook Twitter LinkedIn Email Print Tags: bitcoin, cryptocurrence, Uganda Continue Reading Previous Uganda – Fortebet opens new branches and gives Techno F1 phonesNext Uganda’s authorities move to tighten AML measures More Stories EXPERTS UGANDA NETBALL: The search for $ 36 billion starts with fundraising 3 weeks ago Samuel HOT NEWS UGANDA How Uganda’s Road to Cash-less Economy Aid Online Betting and Gambling 2 months ago Adeleye Awakan BETTING UGANDA Pragmatic Play develops African profile 2 months ago Samuel EXPERTS UGANDA SCCG and Uganda’s Genius Gaming Consult sign Africa 2 months ago Iwo Bulski BETTING UGANDA Uganda Lawmakers Push for Daytime Sports Betting Ban 4 months ago Iwo Bulski EXPERTS UGANDA Top Five Gambling Markets in Sub-Saharan Africa 4 months ago Samuel ONLINE UGANDA Fantasy sports in Africa: Can $3m funding make it popular? 4 months ago Szarlot BETTING UGANDA Global Bookmaker 1xBet Pledges €1m to Ukrainian Humanitarian Relief 5 months ago Iwo Bulski EXPERTS UGANDA Bank of Uganda Commences CBDC Study 5 months ago Adeleye Awakan HOT NEWS ONLINE UGANDA Will Uganda’s Internet Penetration Ever Come Close to Kenya’s? 5 months ago Samuel ONLINE UGANDA Is Uganda the Next Big Market for Online Entertainment in Africa? 6 months ago Szarlot ONLINE UGANDA MTN Uganda introduces overdraft facility 7 months ago Iwo Bulski Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.