Cambodian Riel to Bitcoin Converter
What is the Cambodian riel?
The Cambodian Riel is the official national currency of Cambodia, used within the country alongside other means of exchange.
Symbol and Subdivision:
The Cambodian Riel is denoted by the symbol “៛” and is divided into 100 sen.
The Cambodian Riel has a long and fascinating history. It was first introduced by Cambodia in 1955, replacing the previous currency, the French Indochinese Franc (CFA), at a value pegged to the gold standard. Over time, the currency exchange rate has been revised several times, reflecting economic changes and global events.
Issuance and Control:
The issuance and management of the Cambodian Riel fall under the responsibility of the National Bank of Cambodia, which oversees the currency's stability and the country's economic policies.
Usage of the Currency:
The Cambodian Riel is widely used in Cambodia for all types of commercial transactions, including the purchase of goods and services, payment of tariffs and fees, as well as salaries and other financial operations.
Although US dollars are also accepted in some places, especially in tourist areas, the use of the Cambodian Riel is official and recommended for all domestic transactions.
Thus, the Cambodian Riel plays a significant role in Cambodia's economy and reflects the wealth and history of this remarkable country.
What is Bitcoin, the pioneer of digital currencies?
Bitcoin, the first digital currency, operates on a peer-to-peer protocol, enabling instant payments.
- Ticker: BTC
- Symbol: ฿
One fascinating aspect of Bitcoin is its divisibility; it can be broken down into eight decimal places, representing a value of 10 to the power of 8
Born in 2009 under the pseudonym Satoshi Nakamoto, its creator (or creators) remain anonymous. Throughout the years, Bitcoin has evolved from a P2P electronic cash system to a store of value, earning the moniker “digital gold” from some of its holders.
Today, millions of users actively engage with Bitcoin in their daily transactions.
Beyond its current usage, many see Bitcoin as a revolutionary form of sound money, with the potential to disrupt the existing financial system and possibly even become a global reserve currency. The decentralized nature and cryptographic security of Bitcoin give rise to the hope of a financial revolution that transcends borders and traditional monetary structures.
Some exchange services which allow you to buy bitcoins anonymously through cash deposit via ATM machine/bank branch in Cambodia:
Trusted exchange service www.onlybestoffers.trade in Cambodia and neighbouring countries