South African cyclers will receive Bitcoin prizes in Munga MTB

South African cyclers will receive Bitcoin prizes in Munga MTB
July 14
11:45 2020

South African race called Munga MTB will host about 150 competitors this year at the beginning of December. The three cyclers who will finish the race first will share a prize worth 1.5 Bitcoin, according to Bitcoin.com.

Munga MTB started in 2015 and invited participants not only from South Africa but from all over the world. This race is sponsored by Bitstamp. Last year, the prize was also 1.5 Bitcoin, and three winners from three different categories (men, women, development) split 0.5 Bitcoin between each other. It seems that this year the prize amount remains the same.

During the race, cyclers have to follow over 1,000 km path through semi-desert, with five villages on the way. There, the cyclers can stop to have a meal, rest, and get equipment checks and fixes. Apart from that, the organizers placed water points over the distance of 60-90 km from one another.

The director of the race Alex Harris suggested that the idea of using Bitcoin for prizes came from Bitstamp. When the race is over, the winners can either receive cryptocurrency to their digital wallets or have the organizers convert it into South African Rands and receive a transfer in their traditional bank accounts.

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