Topic: BITCOIN IN AFRICA (Read 2145 times)
bitcoin is already widely used in African countries because most of the reasons they use bitcoin are obviously because of fear of inflation which is always a real threat, real examples from zimbabwa, anggola and nigeria, because their original currency is almost worthless, so many start using crypto broken down into small parts, so basically bitcoin is known throughout the world, bitcoin is also an alternative choice besides they use the dollar which is a global paper currency.
Which African countries allow Bitcoin transactions? Is Bitcoin currently used to purchase items in any African country?
hyper inflation in zimbabwe makes its inhabitants look for alternative savings many of them run their money into bitcoin, nigeria and anggola are also not much different they put their money into crypto because it can be considered as a safe way of terrible inflation potential, so in the African continent, eyes Bitcoin money is nothing new because many countries have used it.. 
Oh yeah i recently heard some news that there were malls in Africa (Ghana, and Accra mall to be specific) that transacted in Bitcoin. One setback is that the education level and digital knowledge is very low in Africa and so it shall take sometime before the adoption gets well seeded in Africa.
It is difficult to imagine the development of bitcoin in Africa. The whole continent is in one big hole - wars, lack of necessary products for life, poorly developed Internet. The only developed country is South Africa where you can actively promote bitcoin
This is actually not true! Many African countries besides SA, such as Nigeria, Morocco, and Egypt are also progressing with the adoption!
Cryptocurrency progression in South Africa, however, has never seen a brighter times. Many new ICOs and crypto assets are being deployed. Capetown, Johannesburg, and Durban are becoming blockchain hubs!
So, African market may not be as doomed as you envisioned it! We (Kryptoro), have contributed to the (r)evolution by offering ZAR, Dirham, Naira, and USD as initial fiat-based currencies to SA market. Our main virtues are:
- The ability to purchase cryptocurrencies using credit cards
- An instant and simple fiat gateway
- Multiple cryptocurrencies (5/6 on launch)
- Superior security infrastructure that takes the burden off the user
- Live trading analysis and trading tools to assist clients in making investment decisions
- Variable analytics generated by our AI trading software
Kryptoro is a subsidiary of Kagiso Interactive, company well-renowned for collaborating with Marvel Comics, EA Games, Disney, MTN, and Mahindra Kotak Bank! Kagiso Interactive is also a South African software development firm that has regularly been voted as the Best Mobile Applications Development Company in Africa and the Middle East. The firm has also been recently touted as one of the leading companies globally to contribute in the space of AR and VR.
So, Kryptoro is currently midway through its crowdsale phase. Once the crowdsale is over, the exchange will operate with KTO (Kryptoro token) which will be used as a "gas" of the exchange. KTO will be a "native" currency of the exchange, serving for paying taxes and fees, and other services.
To conclude, if you really want SA crypto market to blossom then we all need to contribute to it!
Since Africa is one of the biggest/widest continent it is possible that they have exchange sites but legality of bitcoin in that country is a broad issue. "Nigeria" that is where my friend is he also use bitcoin but not sure at all if transactions through bitcoin is allowed.
So we measure continents by "wide" ? Are we talking about continents or TVs?
Africa excels in one thing, the poorest of the poor.
No matter how many Africans are there, if they have only 2$ to spend a day they will fall behind the rest of the world.
Just a heads-up!
Africa 1.3 billion people, gdp 3.3 trillion , Germany 80 millions citizens, gdp 3.5 trillions.
I don't have a list of countries where Bitcoin is currently being used (buying and selling) but lately I read that it is becoming popular in Zimbabwe and that just makes sense.
How can that make sense?
People in Zimbabwe earn around 1000$ per year.
How could they afford to pay 5$ per transaction to use BTC ?
Wow, the richest black person is from Africa and not Europe.
I'm willing to bet that the richest white person is not from Africa but from the western World.
And that the richest Japanese guy is from Japan.
Let me tell you how ignorant you are:
Africa GDP: $3.3 trillion population 1.3 billion.
Eu GDP: $17.1 trillion population 500 millions
Us GDP: 18.57 trillion population 325 millions
Bottom line is that the western world (without Canada)...omg Darkstar_ is going to kill me ......with 2/3 the population has more than 11 times money at their disposal.
That brings us to final ratio of 16:1.
Just because there is a millionaire in every god forsaken country it means nothing.
Don't run away from reality, unfortunately that's the truth, people in poor countries can't match what people in wealthy country have at their disposal. My country is 2 times as big as the Netherlands but when we come to what we can afford compared to them we're miles away, and this while still being part of the EU.
And what is worse, the difference is just going to get worse in terms of bitcoin adoption, poor people that don't have money to buy bitcoin now, they won't have money to buy after 5 years either.
You contradict yourself. If Africans are experiencing problems with the economy that people earn little. This means that their income is enough only for most necessary things and they have no opportunity to save money for a rainy day. The only way for them to be able to stay afloat is earning bitcoins but they will not be able to hold them because they need money to live.
Not only that, blockchain on Cryptogene has the potential to transform Africa by allowing ever more open trade within the African continent to the rest of the world. By encouraging innovation and expanding access to the banking system for all countries and providing greater access to financial services in emerging markets.You can't have a real working economy without infrastructure without an educated workforce and the blockchain will not construct 100 km of highway every block nor it is going to solve your math problems in school.
People waiting for a miracle will die waiting, the EU and Japan have raised from ashes without cryptos and the countrys in Africa should learn from that. Unfortunately there is nobody there willing to do that
The way I saw today, Africa will be the next continent to be conquered by bitcoin. The only reason it will be difficult though because of their infrastructure. They have to put a better internet connections because they can actually used bitcoin and crypto. But some of the countries like Nigeria have been adopting bitcoin fairly quick. I think they are leading of amongst the top bitcoin users/traders in their. Again, with the vast population of Africa, each one of the government should step up their infrastructure program so that bitcoin can fully grow in their. We all know how bitcoin help South East Asian 3rd world countries to earn and make a decent living out of bitcoin. That model could also be adopted in Africa. Maybe along the 5 year mark bitcoin will be recognize more in that continent.
Yes, it could happen. But first people must learn how to use Crypto-Currency without wasting money with Ponzi HYIP investments. Also, Africa is a very poor continent, internet access there is limited for many people, what would affect a lot Bitcoin's adoption. The situation there is very complicated, too many conflicts in many countries, what makes the concrete development almost impossible to be achieved.
And in Africa it is already happening an interesting phenom. Bitcoin price there is much more expensive than at rest of the world. Seems the rich ones there are already ruling/controlling the market... Did Bitcoin experience in Africa fail?
I think mrcash02 hit the nail on the right spot: the major challenge of bitcoin in Africa is internet. Fast and reliable internet comes at a more higher price in Africa as compared to Europe. Since the majority of bitcoin transactions take place on the internet, the average African is not able to take advantage of this booming industry sweeping across Europe, America, and Asia.
A major super market chain in south Africa pick a pay has started a trail to accept Bitcoin payment in store at its head office location.
South Africa has been one of the countries that have opened it doors to crypto activities. I have read news and blogs where it was said that they were organizing meet ups as well. I hope other countries in Africa follow suit to propel crypto in the region Well, It does not matter what people think about Africa in the past.
This is a new era, an era when African have decided to join the league of technological advancements. Africans are topping the charts in this blockchain era.
Check out what we are going to do at SOlarex.
Click here to visit our project website
Kudos Solarex!, I think this project needs more exposure so many people on the continent and the world at large can benefit from it. This is a new era, an era when African have decided to join the league of technological advancements. Africans are topping the charts in this blockchain era.
Check out what we are going to do at SOlarex.
Click here to visit our project website
Which African countries allow Bitcoin transactions? Is Bitcoin currently used to purchase items in any African country?
The usability of Bitcoin in Africa is still not exploited as compared to the Western countries where most of the citizens are technology inclined. Anyway, I read an article in the news papers pointing out one town in Ghana where a woman accepts Bitcoin as a means of exchange in her super-market shop. With time, Africa will adopt the system of Bitcoin due to the benefits it comes with it especially in favour of the people and the economy in general.Quote from: yojodojo21 link=topic=2290286.msg25427636#msg25427636 date=15
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Since Africa is one of the biggest/widest continent it is possible that they have exchange sites but legality of bitcoin in that country is a broad issue. "Nigeria" that is where my friend is he also use bitcoin but not sure at all if transactions through bitcoin is allowed.
All the African countries are quite aware of bitcoin and crypto currency although I can't actually tell which particular country of Africa accept bitcoin as a means of exchange for good and services. Bitcoin and crypto currency is wildly use here in Nigeria but you have to convert it to fait currency before you can purchase items or sevices.Which African countries allow Bitcoin transactions? Is Bitcoin currently used to purchase items in any African country?
I think there is some African countries that allow bitcoin transactions or maybe they haven't yet any rules about bitcoin and in general cryptocurrencies, Few of them are in the north of Africa. I heard that there is some countries in Africa that allow using bitcoin to buy some items, like electronics and paying bills, etc.You can checked which countries allow bitcoin here : (https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Africa)
And you will be surprised that Google Searches about Bitcoin yielded Nigeria, South Africa and Ghana as the top 3 nations searching for the Keyword "Bitcoin". That's why I still believed that there's so much leg room for bitcoin in Africa. The only issues is infrastructure, but I guess everyone there has a cellphone so I'm thinking that there is a greater chance in the next couple of years, Africa will be the next continent that will adopt cryptocurrency.
I think just very few African countries are aware and transacting with bitcoin but I think I have not read about countries in Africa that are really talking cryptocurrency, this could be because African is a bit behind in technology.
I cannot agree with you more. Blockchain technology is not so popular due to inadequate developers in the field. I hope African scientists direct their attention to blockchain soon push it to through the whole of the continent. It is difficult to imagine the development of bitcoin in Africa. The whole continent is in one big hole - wars, lack of necessary products for life, poorly developed Internet. The only developed country is South Africa where you can actively promote bitcoin
Your comment is very misleading and non-factual. How many countries in Africa have you visited to arrive at the conclusion of the whole of Africa being at war? No one even says that for the Middle East so how could you say so for Africa? At least, each continent has an ongoing war or threat of wars. Read wide and stop displaying your ignorance on a big platform as this. A major super market chain in south Africa pick a pay has started a trail to accept Bitcoin payment in store at its head office location.
That's some great development there. Thanks for the information.
In my opinion, all African countries allow operations in bitcoin, because their economy is rather weak!
is this is really happened in afriaca?if happen then this country will be developed their financial growth very soon.i wish if this opportunity operate our country ,we are also part of growing financial growth.
África es, en gran medida, una infraestructura basada en efectivo con un modelo simplista, incluso la banca es todavía un concepto novedoso para una gran parte de la población.
Sin embargo, tampoco hay muchas alternativas, si la comprensión y la educación en las monedas digitales es baja, su adopción en la industria y el comercio minorista es aún menor.
Les comparto esta pagina muy buena, donde pueden encontrar artículos nuevos sobre las criptomonedas https://criptogaceta.com/
Sin embargo, tampoco hay muchas alternativas, si la comprensión y la educación en las monedas digitales es baja, su adopción en la industria y el comercio minorista es aún menor.
Les comparto esta pagina muy buena, donde pueden encontrar artículos nuevos sobre las criptomonedas https://criptogaceta.com/
We are still waiting to see how early bitcoin makes its way through in African region.
It is difficult to imagine the development of bitcoin in Africa. The whole continent is in one big hole - wars, lack of necessary products for life, poorly developed Internet. The only developed country is South Africa where you can actively promote bitcoin
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