UGANDA Bitcoin in Uganda as a form of gambling 4 years ago Samuel Post Views: 1,742 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 1000 Ugandan students drop out annually-reason is gambling 24 hours ago Szarlot CASINO UGANDA Kampala`s Underworld in Casinos 6 days ago Szarlot ONLINE UGANDA Frequently Asked Questions about Buffalo Slots 7 days ago Iwo Bulski ONLINE UGANDA Xsolla Brings New Payment Methods for Gamers in Africa 7 days ago Szarlot EXPERTS UGANDA Differences in gambling laws in Africa vs other parts of the world 3 weeks ago Samuel ONLINE UGANDA How to Earn a 4% Commission on Deposits with Buffalo Slots 3 weeks ago Tools BETTING UGANDA Fortebet Uganda: Revolutionizing the Betting Experience 3 weeks ago Szarlot EXPERTS HOT NEWS UGANDA Comtrade gaming rolls out central monitoring system in Uganda 3 weeks ago Szarlot BETTING UGANDA African Football Betting’s Prospects for the Future 4 weeks ago Szarlot ONLINE UGANDA Mukono mobile money hacker arrested 4 weeks ago Szarlot ONLINE UGANDA Exploring the Lucrative Bonus Features at Buffalo Slots 4 weeks ago Tools ONLINE UGANDA The Most Popular Slot Games in Uganda 1 month ago Samuel 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.