Azerbaijan opens its doors to cryptocurrency



Azerbaijan took another step forward towards the cryptocurrency. In the autumn it was reported that the country is discussing the possibility of "cryptomanat" creating a – crypto currency equivalent of the national currency - manat.

Now Azerbaijan is preparing to launch the service to cryptocurrency exchange. The country's first exchanger will be made by the company BTC.AZ, which will also provide educational material for the Bitcoin in the Azerbaijani language. Start of the service is scheduled for late February 2016.

Founder BTC.AZ Tebriz Eliyev spoke about his plans for the development of Bitcoin in the country.

The company's plan is divided into three main stages:

Informing the public about Bitcoin and blockchain, how it works, the pros and cons of using Bitcoin, as well as the possible risks. Currently, there is a lack of reference books about Bitcoin in the Azerbaijani language, and the company plans to fix it.

Providing services for buying and selling bitcoins. Payment options will include both cash and credit cards.

In the future, when the market will be a sufficient number of participants will be selected and marked by individual buyers and sellers. To date, there are very few people who have even heard something about Bitcoin, and even fewer have an understanding of blockchain technology. Model decentralized currency is still new, not only for Azerbaijan but also for the whole world.


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