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Topic: BITCOIN IN AFRICA - page 2. (Read 2145 times)

sr. member
Activity: 2366
Merit: 332
July 09, 2018, 03:00:18 PM
#85
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.
newbie
Activity: 75
Merit: 0
July 07, 2018, 07:07:03 PM
#84
Officially i have not read or heard more about bitcoin transactions in Africa.Nonetheless, the people of countries like Nigeria, Ghana and Zimbabwe are getting to know bitcoin and understand its operations very well and that is good news.  Bitcoin transactions in African countries will take time.
legendary
Activity: 2016
Merit: 1107
July 07, 2018, 10:14:21 AM
#83
Which African countries allow Bitcoin transactions? Is Bitcoin currently used to purchase items in any African country?

Currently, there five African countries that allow transactions on Bitcoin and other cryptocurrencies, they are South Africa, Namibia, Zimbabwe, Nigeria, and Morocco.

South Africa. In December 2014 the Reserve Bank of South Africa issued a position paper on virtual currencies whereby it declared that virtual currency had ‘no legal status or regulatory framework’. The South African Revenue Service classified bitcoin as an intangible asset.

Namibia. In September 2017 the Bank of Namibia issued a position paper on virtual currencies entitled wherein it declared cryptocurrency exchanges are not allowed and cryptocurrency cannot be accepted as payment for goods and services.

Zimbabwe. The Reserve Bank Of Zimbabwe is sceptical about bitcoin and has not officially permitted its use. On 5 April 2017 however, BitMari, a Pan-African Blockchain platform got licensed, through its banking partner, AgriBank, to operate in the country.

Nigeria. As of 17 January 2017, The Central Bank of Nigeria (CBN) has passed a circular to inform all Nigerian banks that bank transactions in bitcoin and other virtual currencies have been banned in Nigeria. However, during the year, the CBN (through its Deputy Director on Banking and Payments System, Musa Itopa-Jimoh) clarified the circular and its stance on bitcoin, citing that a lot of people misinterpret the central bank’s recent warning. It noted that "Central bank cannot control or regulate bitcoin. Central bank cannot control or regulate blockchain. Just the same way no one is going to control or regulate the Internet. We don’t own it". https://news.bitcoin.com/central-bank-of-nigeria-says-we-cant-stop-bitcoin/

Later on, a committee was set up by the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) to look into the possibility of the country adopting the technology driving bitcoin and other digital currencies – blockchain. The committee has submitted its report but "several sub-committees are still working on the issue" according to the Director, Banking & Payments System Department at CBN, Mr. ‘Dipo Fatokun. https://www.today.ng/technology/internet/2575/nigeria-adopted-bitcoin-technology-cbn

Morocco. On 19 December 2017, Abdellatif Jouahri, governor of Bank Al-Maghrib, said at a press conference held in Rabat during the last quarterly meeting of the Bank Al-Maghrib's Board of 2017 that bitcoin is not a currency but a "financial asset", He also warned of its dangers and called for a framework to be put in place for consumer protection. http://www.menara.ma/fr/actualit%C3%A9s/economie/2017/12/20/2333841-le-digital-champ-de-bataille-de-bank-al-maghrib-en-2018.html



there are no african countries,except Algeria that explicitly ban bitcoins
so,in theory,most of the African country allows bitcoin transactions,since whatever is not prohibited is allowed
there were many articles about Morocco thinking about banning bitcoins,but it seems that they reconsidered
countries like Zambia,Egypt and Saudi Arabia seem to have some restrictions in place,but they do not ban transactions or exchnage of coins
member
Activity: 294
Merit: 12
July 07, 2018, 09:18:13 AM
#82
Africa proves itself to be an active center for cryptocurrency trading, especially Bitcoin. seen from most of Asia who use crypto afrika arguably more active and more than Japan and China but the government there still regulate how the policy in spread crypto there...
sr. member
Activity: 966
Merit: 275
July 07, 2018, 08:05:26 AM
#81
Which African countries allow Bitcoin transactions? Is Bitcoin currently used to purchase items in any African country?

Currently, there five African countries that allow transactions on Bitcoin and other cryptocurrencies, they are South Africa, Namibia, Zimbabwe, Nigeria, and Morocco.

South Africa. In December 2014 the Reserve Bank of South Africa issued a position paper on virtual currencies whereby it declared that virtual currency had ‘no legal status or regulatory framework’. The South African Revenue Service classified bitcoin as an intangible asset.

Namibia. In September 2017 the Bank of Namibia issued a position paper on virtual currencies entitled wherein it declared cryptocurrency exchanges are not allowed and cryptocurrency cannot be accepted as payment for goods and services.

Zimbabwe. The Reserve Bank Of Zimbabwe is sceptical about bitcoin and has not officially permitted its use. On 5 April 2017 however, BitMari, a Pan-African Blockchain platform got licensed, through its banking partner, AgriBank, to operate in the country.

Nigeria. As of 17 January 2017, The Central Bank of Nigeria (CBN) has passed a circular to inform all Nigerian banks that bank transactions in bitcoin and other virtual currencies have been banned in Nigeria. However, during the year, the CBN (through its Deputy Director on Banking and Payments System, Musa Itopa-Jimoh) clarified the circular and its stance on bitcoin, citing that a lot of people misinterpret the central bank’s recent warning. It noted that "Central bank cannot control or regulate bitcoin. Central bank cannot control or regulate blockchain. Just the same way no one is going to control or regulate the Internet. We don’t own it". https://news.bitcoin.com/central-bank-of-nigeria-says-we-cant-stop-bitcoin/

Later on, a committee was set up by the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) to look into the possibility of the country adopting the technology driving bitcoin and other digital currencies – blockchain. The committee has submitted its report but "several sub-committees are still working on the issue" according to the Director, Banking & Payments System Department at CBN, Mr. ‘Dipo Fatokun. https://www.today.ng/technology/internet/2575/nigeria-adopted-bitcoin-technology-cbn

Morocco. On 19 December 2017, Abdellatif Jouahri, governor of Bank Al-Maghrib, said at a press conference held in Rabat during the last quarterly meeting of the Bank Al-Maghrib's Board of 2017 that bitcoin is not a currency but a "financial asset", He also warned of its dangers and called for a framework to be put in place for consumer protection. http://www.menara.ma/fr/actualit%C3%A9s/economie/2017/12/20/2333841-le-digital-champ-de-bataille-de-bank-al-maghrib-en-2018.html

sr. member
Activity: 1512
Merit: 316
July 07, 2018, 05:44:15 AM
#80
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.

This is a good news as if some super market start accepting it then others will start following them and in turn the btc will more be used as a payment method This will also means that demand will rise and it will be known to more people.
newbie
Activity: 29
Merit: 0
July 07, 2018, 03:19:22 AM
#79
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.
newbie
Activity: 112
Merit: 0
July 05, 2018, 05:05:14 AM
#78
For Africa this will be a good stage of development, for them the legalization of the crypto currency will jump upwards.
copper member
Activity: 658
Merit: 500
Blockchain Just Entered The Real World
July 05, 2018, 03:58:03 AM
#77
Nigeria, South Africa, Kenya, Zimbabwe, Ghana
member
Activity: 546
Merit: 12
July 04, 2018, 06:16:53 PM
#76
Which African countries allow Bitcoin transactions? Is Bitcoin currently used to purchase items in any African country?
Many countries in Africa are cryotofriendly. I think South Africa is very friendly when it comes to crypto activities. And yes, you can purchase something with Bitcoins in Africa. There are malls that accept that.
member
Activity: 294
Merit: 12
July 04, 2018, 11:41:47 AM
#75
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.
bitcoin in Africa is growing rapidly one of them they make a program to pay for an education using bitcoin is not that a pretty good idea.
jr. member
Activity: 162
Merit: 1
July 04, 2018, 10:43:36 AM
#74
Bitcoin transaction in Africa is understanding between traders and shops that are accepting Bitcoin in their shops, some people just started to grow with their knowledge on crypto so it is understandable that payment using Bitcoin is between Bitcoin enthusiast only, as for now.
full member
Activity: 344
Merit: 107
June 08, 2018, 01:47:09 PM
#73
Which African countries allow Bitcoin transactions? Is Bitcoin currently used to purchase items in any African country?
In south africa btc transaction is allow i think.Because there are some big & huge popular exchange/brokers controlled from this countries.
I have no idea in africian shop center or other thing is accept btc or not.
member
Activity: 185
Merit: 10
June 07, 2018, 05:27:48 AM
#72
It seems to me that in African countries no one can control your bitcoin transactions. They simply do not have the appropriate infrastructure.  And yet-bitcoin is better to use as an investment tool, and not as a means of payment.
member
Activity: 714
Merit: 14
May 26, 2018, 01:15:27 PM
#71
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.
full member
Activity: 447
Merit: 108
May 26, 2018, 04:44:04 AM
#70
Well, am yet to see any of the African country that use bitcoin as a mode of payment for goods and services but we all believe that with time bitcoin will be accepted world over and not only African countries.
copper member
Activity: 40
Merit: 0
May 25, 2018, 08:06:23 PM
#69
Which African countries allow Bitcoin transactions? Is Bitcoin currently used to purchase items in any African country?

This is a very useful question as Africa need to wake up to the reality of bitcoin and blockchain in general
newbie
Activity: 95
Merit: 0
May 25, 2018, 03:45:47 PM
#68
In Africa, the situation is very strange in my opinion. Because of small volumes, prices can differ at times. Most likely it is used there as a speculative asset.
sr. member
Activity: 1078
Merit: 342
Sinbad Mixer: Mix Your BTC Quickly
May 22, 2018, 02:11:17 PM
#67
I believe Arab countries in Africa does not have a law that concerns the use of bitcoin. That means, people are free to use it. Perhaps if they used it for illegal purposes, they might get arrested. Either way, I do not think people will try to corrupt it as long as they have the freedom to invest in it. Added to that, maybe a law will be put when bitcoin is recognized by many people who are starting to use it because it might be a threat to the economy system.
full member
Activity: 378
Merit: 100
May 22, 2018, 07:05:16 AM
#66
The popularity of bitcoin grows with every passing day. Bitcoin can serve not only as an excellent alternative to national currencies, but also simplify the life of the people of Africa, giving them a piece of high-grade life
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