Topic: BITCOIN IN AFRICA - page 5. (Read 2145 times)
Bitcoin will help generate wealth in Africa through bitcoin transactions and the valuation that this may have, many people in Africa are not banked by legal documentation, but with only having a smartphone they have the right to enjoy an economy global.
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 ?
They're trying to safeguard their wealth from Hyperinflation, which is rampant at the moment, and that 1000$ is the average, as someone mentioned below, there really wealthy families in african countries, there is a terrible distribution of wealth. And those that have little money try to earn through faucets or other cryptocurrency producing mechanisms, not only with BTC but other cryptos with lower fees.
BTC is getting a very warm response in some of the African countries like Zimbabwe, South Africa, Morroco etc. Zimbabwe national economy is not much stable and so BTC usage is getting quite common there for big payment transaction.
But I don't think BTC is used for day to day transaction in any African country. Major reason for not using BTC as a day to day transaction entity is its high transaction fees and delayed confirmation.
But I don't think BTC is used for day to day transaction in any African country. Major reason for not using BTC as a day to day transaction entity is its high transaction fees and delayed confirmation.
I think that bitcoin can be used anywhere not depending on the place of residence
nice observation
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 ?
Which African countries allow Bitcoin transactions? Is Bitcoin currently used to purchase items in any African country?
Bitcoin thrives in Africa, growing rapidly in some major continent such as in South Africa.
Yes, bitcoin can be used to purchase goods in Africa, as one of the largest Supermarket, pick n pay, cooperate with electrum and Luno.
A major supermarket chain in South Africa, Pick n Pay, has started a trial to accept bitcoin payments in-store at its head office location. A payment technology company named Electrum provides the payments platform, with bitcoin exchange Luno providing the Bitcoin payment infrastructure.
https://news.bitcoin.com/south-africas-second-largest-supermarket-chain-pick-n-pay-trials-bitcoin-payments/
I know of people using Bitcoin in south Africa. I am sure crypot currencies have a great future ahead in Africa!
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.
The main hubs for bitcoin in Africa are Accra, Lagos , Nairobi and Cape Town . However, there are more and more cryptocurrency-based start-ups emerging across the continet.The most popular way to exchange bitcoin into local African currency is still the local peer-to-peer exchange.
yes south africa is legal with bitcoin you can make use of bitcoin there.
Great, bitcoin will surely become more usable in many countries in the future and bitcoin will help all of use to become more financially free from stress. People should use bitcoin for good.
Every people have their own right to own or use bitcoin for their need as long as their government are not against bitcoin by making legal policy.
I'm sure bitcoin will help most people who live on Africe especially when their fiat inflation's rate still quite high
I'm sure bitcoin will help most people who live on Africe especially when their fiat inflation's rate still quite high
Which African countries allow Bitcoin transactions? Is Bitcoin currently used to purchase items in any African country?
most of African not know about BTC but till now law in Africa is week so that you can Buy / sell bitcoin easy
For now yes, since maybe people there are not aware on this kind of system or just ignoring this great opportunity. Time will come and they will surely use bitcoin and people who are using bitcoin now there will surely making good money. Bitcoin will spread around the world for the comings years and i believe they will surely enjoy big profit one day.
Which African countries allow Bitcoin transactions? Is Bitcoin currently used to purchase items in any African country?
most of African not know about BTC but till now law in Africa is week so that you can Buy / sell bitcoin easy
yes south africa is legal with bitcoin you can make use of bitcoin there.
Which African countries allow Bitcoin transactions? Is Bitcoin currently used to purchase items in any African country?
in Africa has no good facilities for doing business. here people earning money but it is sufficient to their daily needs. that country people earning money it is enough to their needs. so they have no chance to earn bit coin. if they earn they did not keep in wallet because they have to use for their daily needs only. so in my point of view Africa is not good to keep hold bit coin.
Well this is a great system and big opportunity for middle to lower class their to make good money so they can improved their quality of life, I have heard not enough news about Africa but as far as bitcoin is concern i believe this thing will surely help them for a brighter tomorrow.
Which African countries allow Bitcoin transactions? Is Bitcoin currently used to purchase items in any African country?
in Africa has no good facilities for doing business. here people earning money but it is sufficient to their daily needs. that country people earning money it is enough to their needs. so they have no chance to earn bit coin. if they earn they did not keep in wallet because they have to use for their daily needs only. so in my point of view Africa is not good to keep hold bit coin.
Which African countries allow Bitcoin transactions? Is Bitcoin currently used to purchase items in any African country?
Just a Google search would have solved this. Virtually all African countries supports bitcoin not officially though but because the government of most of the African countries does not have the required facilities to either monitor crypto currency and thereby will have to study the more before taking the right steps. In the future when the amount of population involved is enough to command attention, then we might see some regulations coming so if you are in Africa, this is the time to convert to fiat and vice versa without much stress.
Some of the countries inside Africa's continent are already accepting and supports Bitcoin. Actually the growth of Bitcoin there is phenomenal especially Nigeria which over 100,000 of merchants there are now accepting Bitcoin as payment option. Also Zimbabwe which is the highest rate of Bitcoin ever recorded because of the demand for bitcoin is massive. Recently, Bitcoin almost hit $10,000 there. $9600 to be exact. It's because Zimbabwe is lacking of cash. That's very amazing. And i think many African countries will follow because of this.
For exact list of African countries that are supports Bitcoin. Here
https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
For exact list of African countries that are supports Bitcoin. Here
https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
While Africa has not yet witnessed the high level of cryptocurrency adoption that the United States, Europe, and the UK have seen, there are several start-ups and individuals in Africa that are building an African bitcoin ecosystem by leveraging bitcoin and its underlying technology, the blockchain, to deliver innovative services to African consumers and businesses.
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