Online classified Gumtree has revealed that many South Africans are flogging their wares on the site and requesting payment in Bitcoin.

After exponential gains in 2017, crypto-currency is the hottest topic of debate at the moment and it appears as if South African’s are not afraid of swapping real-world items in the hopes of achieving massive gains.

“This is particularly true for high-value items like cars, bikes and boats,” says head of Core at Gumtree Claire Cobbledick.

“Many sellers are willing to take a gamble with their assets in hopes of a large pay-out.”

At time of writing we were able to find an individual selling a Land Rover Defender 110 for R180 000 with a line that simply reads “I am also open to accepting bitcoin as payment.”

Another seller is open to accepting Bitcoin for a 2010 BMW X5.

While Gumtree does not allow the advertising of cryptocurrency miners or services, buyers and sellers can use Bitcoin as a currency of exchange but Cobbledick says they must be aware of the risks.

“Bitcoin is a volatile currency, so while you could easily see a 50% increase in your investment, you could just as easily end up with nothing. It’s up to the seller to decide if they are willing and able to take a gamble,” she says.

Oh and if cars are out of your price range you can pick up a carnivorous plant for R160 or the equivalent in Bitcoin.

 

Brendyn Lotz writes news, reviews, and opinion pieces for Hypertext. His interests include SMEs, innovation on the African continent, cybersecurity, blockchain, games, geek culture and YouTube.