Africa's Bitcoin revolution is rapidly growing - page 2.

taufik123

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This is an economic revolution supported by revolutionary digital technology. Africa took advantage of this opportunity to adopt bitcoin on a large scale. Individuals and small entrepreneurs in Africa have recorded the most transactions using digital currency or cryptocurrency.

Africa is in a very good condition to take advantage of cryptocurrency, because the African continent has a generation of young professionals who are easy to adapt to new things and aspire to become entrepreneurs. This is what makes digital currencies like bitcoin easy to accept.

The adoption of bitcoin is also due to their local currency being unreliable and hyperinflationary. Cryptocurrency is a better alternative currency than local currency and makes the domestic economic system more developed. One of the popular services in Africa that uses bitcoin as the base currency is BitPesa which can make money transfers internationally at a lower cost.

Nikole Fischer

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Yeah, I was really surprised when I saw a post about how in Africa the use of bitcoin grows. It's interesting to follow how bitcoin is developing in countries such as Nigeria, Kenya, South Africa. I would recommend reading about it

milani

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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

For lots of us Africa looks like a really technically not developed continent. So why there is so highly growing interest to Bitcoin and cryptocurrency? In my opinion - weaker local currencies that make it harder to get dollars, bureaucracy that complicates money transfers. New generation there is just trying alternative ways that may help to avoid complicated things. Of course it is interesting what is the percentage of the population uses Bitcoins, and what about that part that is without simple things like Internet, computers, gadgets and so on. But it is great that the country is developing in this direction. Some experts are sure that Africa may surprise us.

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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?

Yeah, I think it all started with Nigeria, although the continent is really suffering from a lot of economic and financial and government collapses, still they find bitcoin to be a safe haven, just like any countries, for example Venezuela.

and then we have Jack Dorsey magnifying the potential of bitcoin,

https://techcrunch.com/2020/01/05/into-africa-tech-leaders-weigh-in-on-jack-dorseys-planned-move-to-the-continent/

https://www.forbes.com/sites/billybambrough/2019/12/01/jack-dorseys-future-defining-plan-to-bring-bitcoin-to-12-billion-people/?sh=10a9c2564f6f

https://www.cnbc.com/2020/03/05/twitter-ceo-jack-dorsey-reconsidering-africa-move-on-coronavirus-fears.html

tabas

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An article was published a few days ago, a country from Africa is the #2 largest market through paxful and other countries from the same continent too has large volume transactions.
Nigeria is now the No.2 bitcoin market on this fast-growing global marketplace

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?

Registrations and stats through a platform like paxful, you can see it on the article I indicated above.

Wysi

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This is a great news and learning curve for other developing nations, Africa is surprising us in more than one way as recently we noticed Nigeria is the second largest users(trade) of bitcoin, we should also appreciate neutrality of the government on crypto related stuffs without which this development will not be possible.

Oshosondy

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This should not be so surprising to see Africa growing so much while it comes to using cryptocurrencies as a means of payment, holding and making p2p transactions. Many of the Africa countries find it difficult to pay directly into another country while many comes with high payment fee, that is why many of the countries are now prefering cryptocurrencies as a means to solve these problems, especially because the payment comes with low transaction fees. Despite with the little development in Africa, there is still rapid development in crypto.

BIT-BENDER

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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.

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Seems like Africa would be one of those regions wherein bitcoin growth would be beneficial since Africans can really use the current state of bitcoin to their advantage, especially in promoting it as an investment, or as an alternative on patments that they are commonly used to. It may not be used to eradicate the plague of poverty but it will surely create financial freedom—or at least close to it—to some of those ‘advantaged’ populations further decreasing the number of poor people in Africa. There is also a potential that these new rich people would create jobs for other people if decide to open new businesses, so it’s a factor to consider, too.

teosanru

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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

I understand that bitcoin is providing a few opportunities for tech-savvy people around the globe including those from Africa. But why do some people consider Bitcoin as a magic wand for eradicating poverty? All these new opportunities of employment in crypto world are just new requirements for skilled people for which they can apply remotely no one is going to distribute free bitcoins in Africa so that everyone gets an equitable income. Moreover much more than Africa I have seen South East Asian countries like Bangladesh, Indonesia and Phillipines taking advantage of this bitcoin revolution as people of these countries are being employed in crypto companies. Can you explain how bitcoin would help people of Africa?

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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 still a continent that is rarely in the spotlight so it is very surprising that there is news that Bitcoin is very much in the spotlight there. whether the news that has been widely circulated and heard so far is true that the spread of technology has not been evenly distributed there?

DoublerHunter

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

~snip~
What about in your country? is Bitcoin creating an influence and change as well in your own country?

^ Since we are freely using bitcoin I would say, it is a lot of changes to those people who had and adopting bitcoin.
However, you know, when the internet came in people are getting more intelligent since they access a lot of data over the internet. Good thing that Africa is now trying to improve their lives by adopting the technology. They will never regret their decision of doing so. I have seen countries that adopted Bitcoin grow. And I hope that this will serve in long term to them and even the same to my country.

The Cryptovator

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I think they (Africa) took the right decision to adopt Bitcoin. They realized the true value of Bitcoin in my opinion. For a developing country, bitcoin would help their financial ecosystems to improve. The world mobilizing to digitalization, so Africa shouldn't stay back as well. Those country adopting bitcoin and cryptocurrency from the beginning, they will not regret later. But, like my country' those developing countries aren't adopting bitcoin, I am sure they will regret it once a time. They are not moving with the trend.

Obi theo

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Africa,is one places I believe loves to try new things out , and the adore crypto currency to large extent.

bandungan

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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?

dupee419

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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

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