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Young Zimbabwean Bitcoiner Built Out Business With Bitcoin By Importing Cars

Reports said that a young Zimbabwean Bitcoiner, named Ovidy, has built out a business with Bitcoin by importing cars and sending remittance payments when he returned to his homeland during the COVID-19 pandemic. Ovidy imports cars using Bitcoin.

He said:

“I really like to import BMWs.”

He said that Bitcoin makes him hopeful for the future.

He added:

“I came across Bitcoin when it was around $10,000,” during the 2017 bull run. However, I didn’t invest because I didn’t have any knowledge about it. I thought that you could Bitcoin one day and have $500; the next day you have $1,000 and it goes up and up.”

The report said that he stacked some sats over this period, but it took a few years’ learning and small experiments tinkering with Bitcoin, such as using BitPay to pay for clothes on Amazon, before he could come to grips with the decentralized digital currency. It was no more than a hobby and an experience that was soon forgotten.

He further said:

“I didn’t have anything to do when I came back to Zimbabwe. There were no jobs, so I considered foreign exchange (forex) trading.”

Likewise, the forex account asked for him to deposit some Bitcoin and Ovidy remembered he had some “Bitcoin in an old Coinbase account.” He checked, and to his delight, the $500 he had bought during 2017 and 2018 was worth more than $2,000. A eureka moment, Ovidy immediately realized he could leverage Bitcoin for payments and investments. He could create work, and more importantly, a salary for himself. The Ovidy E-Wallet transfer hub was born.

He tapped into his network of contacts and began facilitating the importation of cars — from BMWs to Toyotas to off-the-shelf Hondas — from Japan. His Zimbabwe clients give him dollars after which he sends Bitcoin to Japanese car dealerships. Weeks later, the cars arrive.

Thus, he explained:

“It is impossible for me to send dollars to Japan as the only way to do so is through banks. When something gives me $5,000 in Bitcoin, I send the Bitcoin to Japan almost instantly, and I already have the cash here and the transaction is confirmed. Bitcoin is a faster and safer process.”

Source: Cointelegraph



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