How To Buy and Sell Bitcoin in Cambodia – 2018 Guide
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Read full article here: http://buybitcoinanonymous.ly/how-to-buy-and-sell-bitcoin-in-cambodia/
In February 2018 I was lucky enough to lose both my wallet and iPhone while staying in Siem Reap, Cambodia for 5 weeks. My wallet contained all my cash and access to cash (ATM and credit cards). I tried for a week to get a new ATM card and credit card shipped to Cambodia from the USA, but the banks would not do it! I was broke and out of options, or so I thought…
Bitcoin saved my trip! Using a fantastic service called cash2pm.com I was able to sell some of my BTC holdings and receive a Western Union for cash in Cambodia.
During this process I learned a ton about the current state of Bitcoin and Cryptocurrency in Cambodia. As one would guess, there is not much adoption by the local population at all, in fact, many people do not even have bank accounts! After more research, I did discover that, although small, there is a Bitcoin scene in Cambodia, and it is possible to anonymously or at the very least, discreetly buy in Cambodia.
Current State of Bitcoin in Cambodia
A 2015 article from CoinGecko gives a great synopsis of Bitcoin’s progress is Cambodia and correctly identifies Cambodia as a perfect candidate for one of Bitcoin’s main use-cases, “Banking the Unbanked”. Relevant excerpt here:
We will now take a look at Cambodia, one of the least developed countries in South East Asia.
Cambodia has a population of about 15 million people and GDP per capital of USD1100. Although population is only 15 million people, Cambodia already has over 20 million mobile SIM cards in circulation, implying that many people owned multiple SIM cards. Cambodia’s Ministry of Posts and Telecommunications also reported that there are now over 3.8 million Internet users in the country suggesting an Internet penetration rate of about 25%.
Although Internet penetration rate is still low when compared to other countries, the rise of ubiquitous 3G facilities will increase the Internet penetration rate over time. Coupled with a low banking penetration rate of only about 5%, Bitcoin will stand a good chance of playing a bigger role in banking the large unbankable population through digital wallets. (Full Article)