Africa's Bitcoin revolution is rapidly growing

fauzan123

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I'm not African either, but I'm glad to hear that. Wasn't that the purpose of making bitcoin? Distribute and process bitcoins bitcoin all over the world!
In my opinion, Satoshi wanted to eliminate these differences between continents and humans and spread bitcoin among the people of the world.
However, in the country where I live, bitcoin has not been accepted, and bitcoin and digital currencies are a crime, and if someone has bitcoin, he will be treated like a criminal.

We will not find that in business there will always be positive things, because in every business there will always be positives and negatives.

Of course it depends on how each individual reacts, because we can't possibly prevent this, in principle what I can catch from the concept of bitcoin is as a new transaction tool using a more efficient digital system without having to go through a complicated process, because the data of each holder also kept secret (anonymous) of course this can indeed be positive and negative as I said before.

But I think we can see how the process has developed in bitcoin until now, how the movement of bitcoin is getting more positive, of course this is also welcomed by the majority of investors from here, we actually already know how bitcoin is needed.

Daryl_Dixon

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It is really gratifying to see that the people of my country have been able to make good use of buying and using bitcoins.

kryptqnick

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Quote from: dupee419 on December 23, 2020, 11:09:55 AM

Coming from Africa, I never would have thought that they'll be making good use of Bitcoin, from a country that has not been fully developed unlike the rich countries, Africa on the other hand is making rapid growth, we all know that they have fully utilized mobile money, they do not only make use of Bitcoin but cryptocurrency itself, I honestly think that with the influence of today's generation citizens of Africa, the continent will continue to develop and probably overcome poverty in the future, I am not african but I definitely am happy that the influence of Bitcoin is making a good chance for them. What about in your country? is Bitcoin creating an influence and change as well in your own country?

source/s: https://www.dw.com/en/africas-quiet-cryptocurrency-revolution/a-55199637

https://bitcoinmagazine.com/articles/how-the-use-of-bitcoin-in-africa-continued-to-grow-in-2020

Africa is a big continent with tons of countries. Some of them are very unstable, poor and dangerous, but others are pretty successful and prosperous. News about high levels of adoption in Africa has been popping up for years, so I'm not surprised by it anymore. However, I think it's an overgeneralization to say "Africa" instead of naming particular countries or at least regions there.
As for my country, Bitcoin and other cryptos are pretty popular here, and they aren't regulated yet (there've been various project laws but none passed for now). I think people here mainly see it as an investment, so adoption of Bitcoin as money isn't high here.

thesmallgod

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I would have love the part of Africa you are from. Africa is a large continent I will like to tell you that there are countries in Africa that are developing rapidly in term of technology advancement. Nigeria, Kenya and South Africa are always adopting technology rapidly. Gone are the days of liberty reserve, country such as Nigeria are very vast in adopting mainstream technology. This is a country with a lot of technocrats that has grown to develop payment processing services such as paystack, flutterwave and others. The same with Mpesa developed in Kenya. Cryptocurrency adoption in Africa is not strange this is because country like Nigeria with large population is known for exploring new technology especially those that can improve their standard of living

GeorgeJohn

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In African many countries there is making use of bitcoin seriously, it's obvious that African continent is not lacking behind concerning development via cryptocurrency adoption, their is total innovation in African in terms of growth via btc, so whoever rising alarm or castigating African as one the continent that reject bitcoin is total fallacy, many countries in African adopted btc fully such South Africa and Nigeria, I hope their doing good in crypto.

Slow death

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Quote from: pooya87 on December 23, 2020, 11:45:15 PM

Africa is not a poor country, it is just underdeveloped and it isn't because of being poor but because it has been f**ked with for decades that keeps it behind.
In any case I believe bitcoin always grows in third world countries faster than other places because there are usually far less roadblocks in those countries against its adoption. For instance you have to jump through a million hoops in US to buy bitcoin and end up paying a shitton of money to IRS while in Africa you can buy bitcoin a lot easier and not to worry as much about the "tax man" robbing you.

in fact, the US or Europeans it is easier to buy bitcoin. I'll give you an example:

In my country someone who earns a good salary is in the 15,000 in local currency which is worth $250. and if that person were to buy bitcoin paying the fees in the end they would have $800 in bitcoin. But in the USA, those who earn a good salary are above $1000 and could easily buy many bitcoins whenever they want.

Africa's biggest problem is poverty due to government corruption. It is impossible to do much in Africa especially if we talk about bitcoin in Africa.

The reality of Africans is much tougher than people in Europe or the USA can imagine

lepbagong

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Quote from: Sterbens on December 24, 2020, 09:52:41 AM

happy news for our brothers there, in fact we are very happy to hear this. that the improvements will continue to be good enough for Africa. very good decision. This will be the material for the pilot country, because Africa has started its economy by using bitcoin as a legal transaction tool that is legally agreed upon by the government. hopefully other countries will follow the rapid development that Africa is doing.

Of course, if you look at it, the heart is quite happy that there is recognition from countries in Africa that have made breakthroughs, even though we know that there are still many people in Africa that are poverty-stricken and that doesn't make things a problem, because we know that poverty will always indicate that there is still not yet developed renewable technology.

such as Nigeria is a country with abundant oil and the richest people there are many, but poverty still affects many of its people (from world economic news), so there are still some that have not been touched at all.
Hopefully this development will be able to bring people to meet the needs of a better life by making existing and recognized breakthroughs.

Sterbens

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happy news for our brothers there, in fact we are very happy to hear this. that the improvements will continue to be good enough for Africa. very good decision. This will be the material for the pilot country, because Africa has started its economy by using bitcoin as a legal transaction tool that is legally agreed upon by the government. hopefully other countries will follow the rapid development that Africa is doing.

manfredmann

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I never thought too that nigerian can move to the 2nd place of bitcoin doing transactions. Nigerian is part of an african continent. Not only in Nigeria that bitcoin is good but so does the other parts of the african continent. Well, they must have embrace bitcoin and as I do believe now that bitcoin could be a way to beat inflation rate and that also couls even beat poverty. But, I do believe that african countries are rich.

Becky666

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Quote from: bandungan on December 23, 2020, 11:19:03 AM

I started to see and was surprised when Nigeria started to adopt bitcoin, and then many countries in Africa started using bitcoin and even legalized it. I can't stop thinking if a country in Africa is even first to use crypto. but I am still confused on what basis they use it?

Maybe on the basis of empowering the citizens and to help generate revenue for the continent as the technology still be seen as early techs. Nigerians has aggressively be engaging with this technology of since her fiats currency that's dilapidating against the US dollars on daily basis can't be solve at the moment, also, new investors has started flowing into the country with their various tech which will help to improve the lives of the citizens (Binance exchnage $ Binance academy among others). Personally, i have been a fan of Bitcoin and cryptocurrency in general, this has earned me some good degree in this tech, so, there are multi-dimensional basis the continent and in particular Nigeria government are looking from.

jrrsparkles

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Quote from: Alucard1 on December 24, 2020, 02:21:21 AM

We all know Africa is not a rich country, most of them have the problem with the finances and most of them have the record of having so many poverty. Cryptocurrency will become a good help for the economy of Africa, we know how unfortunate the country of Africa and they need to do something to get recovered from the crisis. If they keep on exploring and learning the world of crypto then for sure it will be a good advantage for them and it will help them to recover from the economic crisis.

Cryptocurrencies are not going to make the people richer unless they know how to play with its price volatility so saying that making richer is not the right statement to be honest as a whole country.Of course cryptos are giving advantages that is why they are using it but importantly they are using it as currencies not as investment assets which is really good thing about their kind of adoption.

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Quote from: dupee419 on December 23, 2020, 11:09:55 AM

Coming from Africa, I never would have thought that they'll be making good use of Bitcoin, from a country that has not been fully developed unlike the rich countries, Africa on the other hand is making rapid growth, we all know that they have fully utilized mobile money, they do not only make use of Bitcoin but cryptocurrency itself, I honestly think that with the influence of today's generation citizens of Africa, the continent will continue to develop and probably overcome poverty in the future, I am not african but I definitely am happy that the influence of Bitcoin is making a good chance for them. What about in your country? is Bitcoin creating an influence and change as well in your own country?

source/s: https://www.dw.com/en/africas-quiet-cryptocurrency-revolution/a-55199637

https://bitcoinmagazine.com/articles/how-the-use-of-bitcoin-in-africa-continued-to-grow-in-2020

It's been a while when I heard news about Africans are adopting Bitcoin and cryptocurrency. There's this man who want to build wakanda into reality and use crypto as the main currency in the imaginary city. (I forgot the name of that guy) For me Africa is a wealthy country to be honest due to vast natural resources and there is no doubt that cryptocurrency enthusiasts and investors keeps on increasing too due to the demand.

Here in my country we are having a good time with Bitcoin and cryptocurrency in general. There is this regulation by the central bank but it's doing fine, no issues using crypto at all.

davis196

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Africa has lots of natural resources and lots of cheap labor,so there's great potential for growth.
The big problems are the political instability,dictatorships,corruption and not enough money invested in education and healthcare.When all those problems are solved,I'm sure that many big companies will invest in Africa and boost the industrial and technological development of the continent.
The crypto industry will be a crucial part of this development for sure.
Many Africans will get computers and internet,so the digital industry in Africa will explode in the future decades.

Alucard1

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We all know Africa is not a rich country, most of them have the problem with the finances and most of them have the record of having so many poverty. Cryptocurrency will become a good help for the economy of Africa, we know how unfortunate the country of Africa and they need to do something to get recovered from the crisis. If they keep on exploring and learning the world of crypto then for sure it will be a good advantage for them and it will help them to recover from the economic crisis.

jrrsparkles

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In Africa you can witness very small scale shops accepting bitcoins and other reputed coins as payments even when they don't have enough equipments for billing just only because they lost the confidence on their fiat money which is going worthless day by day and some country's money from Africa is having nearly very low value against the USD dollars so they are about to hit the hyper inflation.

Afrigod1234

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Africa is a really vast continent with a rich cultural heritage. Though culture is one of the factors limiting citizens growth in the country, but the most is fear of being scammed. Most people are scared to invest in anything online or crypto. Cause those who preach the word crypto or BTC have a 70% chance of being scammers. I'm mainly talking from the perspective of Nigeria though.

Unlike other countries where things are done mainly online, most of the nigerian population though they are definitely online they prefer to waste their time on social media platforms instead of platforms which are financially benefiting.

Another iceberg to Africa's growth are our leaders, who make everything difficult for the poor struggling masses by inflating prices unreasonably, it's difficult to stay online frequently, mainly in Nigeria, there isn't even regular power supply.

These stated above are just some of the factors which are limiting our growth and which will definitely slow down the use and spread of crypto in btc. It will definitely spread but might be a slow process.

Wingsbtc

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In a country where economy is bad everyone will try as much as possible to find means of survival, I believe that's why most africa countries are giving bitcoin and crypto investment a try, they are even into forex trading too, Nigeria is one country that have bad economy, I'm not surprised that people from the country are into crypto

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Quote from: bandungan on December 23, 2020, 11:19:03 AM

I started to see and was surprised when Nigeria started to adopt bitcoin, and then many countries in Africa started using bitcoin and even legalized it. I can't stop thinking if a country in Africa is even first to use crypto. but I am still confused on what basis they use it?

In Nigeria, there are a lot of Forex traders and that's the simple reason cryptocurrency caught on too. We love the smell of capitalism and any country that likes that will always try out new things. It isn't for nothing that the naira (the Nigeria currency) is listed at the Binance exchange. Nigerians dominate that exchange and are trading large volume there. CZ noticed this and quickly took advantage of it. You can say there aren't many online shops accepting Bitcoin in Nigeria yet. At the moment, traders in Nigeria exchange Bitcoin to fiat before use or directly transfer it to exchanges for trading.

pooya87

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Africa is not a poor country, it is just underdeveloped and it isn't because of being poor but because it has been f**ked with for decades that keeps it behind.
In any case I believe bitcoin always grows in third world countries faster than other places because there are usually far less roadblocks in those countries against its adoption. For instance you have to jump through a million hoops in US to buy bitcoin and end up paying a shitton of money to IRS while in Africa you can buy bitcoin a lot easier and not to worry as much about the "tax man" robbing you.

Lorence.xD

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Quote from: BIT-BENDER on December 23, 2020, 03:45:13 PM

Am an African -west Africa, Nigeria- and Bitcoins scales new heights like a top athletes scales huddles In athletics game, in my country, although there are harassment From the police who can't differentiate between crypto-currency and cyber-crimes, Bitcoin is well used/known and has given alternative sources away from crimes for youths in my country.

Glad that you use it for the well being as an individual, but I am sad at the same time that police brutality is very rampant at this day and age. In my country, the good thing about cryptocurrency is that the government seems not to be bothered by this which is advantageous for cryptocurrency users because we have far less to none restrictions that could potentially be a problem for an average user like me.

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