UGANDA Bitcoin in Uganda as a form of gambling 3 years ago Samuel Post Views: 1,587 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 BETTING UGANDA Ugandan health worker loses 6,7 million bet on World Cup game 5 days ago Samuel EXPERTS UGANDA How hackers stole billions from Airtel Money in Uganda 2 weeks ago Szarlot ONLINE UGANDA Fintech firm MFS Africa granted payments licenses to operate in Uganda 4 weeks ago Iwo Bulski EXPERTS UGANDA URA seeks to collect Shs5b from VAT on non-resident tech giants 4 weeks ago Iwo Bulski EXPERTS UGANDA URA registers 21.4% growth in revenue collections 1 month ago Szarlot EXPERTS UGANDA Uganda: Galaxy FM Director Dies in Nasty Entebbe Expressway Crash 1 month ago Iwo Bulski EXPERTS UGANDA Interpool: Illegal Sports Betting In Macau, Albania & Uganda 2 months ago Szarlot EXPERTS UGANDA Uganda: Why Ura Is Tapping Into Digital Economy to Increase Revenue Collection 2 months ago Samuel HOT NEWS UGANDA Independence Day in Uganda 2 months ago Iwo Bulski EXPERTS UGANDA Tackling dangers of gaming is top priority 2 months ago Iwo Bulski ONLINE UGANDA MTN Uganda Announces Top 3 Winners 2 months ago Szarlot BETTING UGANDA These are the biggest betting companies in Uganda 3 months 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.