Topic: The used of Bitcoin in Africa - page 2. (Read 20407 times)
It's cool to see how Africa doesn't stand still and tries new things
Recently I've read an interesting article from Reuters about Bitcoin standing and usability in Africa. A lot of interviewed bitcoin users from the five countries said the cryptocurrency was helping people make their businesses nimbler and more profitable. I think it's great when a digital currency can make your life a little bit easier.
There are more usage opportunities of Bitcoin in Africa if the African's will stand in one and accept the cryptocurrency to boost their economy and make them buoyant. Africans' problems are from their ground Fathers, hope they will embrace the technology and move faster with the tech for a better eye opener.
I really impressed with Africa and Africa government is very great, because they do accept the bitcoin, it meant, the government want that their people use bitcoin and crypto currency and promote it and in this wise, the other governments will see it and their learnt from Africa and may be and hopefully they will be do something like Africa's government to allow their people to use crypto currency and earn from it.
Like now, countries like US and China have different payment systems that we should imitate for us to have transactions and negotiations with other people on different countries that will develop our economy.
Wow! Didn't know about this! I mean it is strange for this continent to have this kind of action but a good thing to know that they did. This will really help them considering their countries didn't have a good condition and having an investment to bitcoin will surely contribute in helping them developed! Happy to see these countries embrace cryptocurrencies! Good luck to them!
Africans accepts and adopt to things so easily as far as it's useful and beneficial to her citizens..It's lovely to see Nigerians embracing cryptocurrency and topping other African countries towards investment alhough their government is not really in support of it. That's to show you how Nigerians are in support of crypto to excel
Africa is one of the most suitable to show the effect of cryptocurrencies on the economy
I have always believed that African leaders will embrace this new technology. Digitization unlike the 20th century is gaining a deep root in Africa nowadays. This is not Nigeria, Kenya, South Africa and co are not the only countries. I know a country like Ghana which is advancing in the acceptance of bitcoin.
There are more usage opportunities of Bitcoin in Africa if the African's will stand in one and accept the cryptocurrency to boost their economy and make them buoyant. Africans' problems are from their ground Fathers, hope they will embrace the technology and move faster with the tech for a better eye opener.
I really impressed with Africa and Africa government is very great, because they do accept the bitcoin, it meant, the government want that their people use bitcoin and crypto currency and promote it and in this wise, the other governments will see it and their learnt from Africa and may be and hopefully they will be do something like Africa's government to allow their people to use crypto currency and earn from it.
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Countries in the continent africa is embracing the blockchain technology and Bitcoin in their masses. In some countries the government of the day are showing some kind of support or interest fo :)r the new technology while others are advising their citizens not to use the cryptocurrency due to fear of fraudulent activities. I have taken my time, done some research plus the little knowledge I already have, made this thread to highlight the three ways Bitcoin is been used in Africa. They include;
[1]: Trading and investment:
Most citizens of countries in Africa like Nigeria, Zimbabwe, Kanye, South Africa etc have turned to Bitcoin as their recuse from poverty and others to increase their asset portfolio. According to the report carried out in August 2018, five (5) Africa countries where ranked among the Top 50 highest traders of Bitcoin on Localbitcoin exchange namely;
7. Nigeria – $258M
10. South Africa – $98M
23. Kenya – $25M
36. Morocco -- $6M
43. Tanzania -- $2M
Source
Note: This is just a statistics from one exchange, we have numerous exchange both locally and international that Africans are trading on and that's just one of the ways Bitcoin (cryptocurrency in general) is been used in Africa.
[2] Online shopping:
The number of cryptocurrency related online shops is raising daily mostly in South Africa and Nigeria. Africans can now buy goods online from the comfort of their home and pay with bitcoin. Physical store are also joining the party, In 2017 one of South Africans biggest grocery stores called Pick n Pay showed interest in accepting Bitcoin as a means of payment we also have numerous merchant already accepting Bitcoin and few of them can be found here, Merchants Accepting bitcoins for Payment in Africa
[3]: Online transaction (money transfer):
Any one familiar with Africans knows we're migraters, there isn't any part of the world you'll go that you won't find Africans in their number, majority of the times it's the hustle that take them there. Many Africans leave their country for search of greener pastures in Western countries and when they succeed they always struggled to send money back to their families but with the help of Bitcoin everything has changed as sending money is now made easier, cheaper, faster and more secured. The luno wallet/exchange is one of the many platforms used for that purpose as it make it easier to convert Bitcoin to local currency.
If you're a blockchain developer and you were looking for the next regional area to get potential customer for whatever service you're providing I suggest you join the few companies tapping the potential found in Africa.
Here are some useful article you can read to convince you more;
Why Africa Is Fertile Ground for Bitcoin Adoption
Top 5 African Countries That Are Embracing Bitcoin
Countries in the continent africa is embracing the blockchain technology and Bitcoin in their masses. In some countries the government of the day are showing some kind of support or interest fo :)r the new technology while others are advising their citizens not to use the cryptocurrency due to fear of fraudulent activities. I have taken my time, done some research plus the little knowledge I already have, made this thread to highlight the three ways Bitcoin is been used in Africa. They include;
[1]: Trading and investment:
Most citizens of countries in Africa like Nigeria, Zimbabwe, Kanye, South Africa etc have turned to Bitcoin as their recuse from poverty and others to increase their asset portfolio. According to the report carried out in August 2018, five (5) Africa countries where ranked among the Top 50 highest traders of Bitcoin on Localbitcoin exchange namely;
7. Nigeria – $258M
10. South Africa – $98M
23. Kenya – $25M
36. Morocco -- $6M
43. Tanzania -- $2M
Source
Note: This is just a statistics from one exchange, we have numerous exchange both locally and international that Africans are trading on and that's just one of the ways Bitcoin (cryptocurrency in general) is been used in Africa.
[2] Online shopping:
The number of cryptocurrency related online shops is raising daily mostly in South Africa and Nigeria. Africans can now buy goods online from the comfort of their home and pay with bitcoin. Physical store are also joining the party, In 2017 one of South Africans biggest grocery stores called Pick n Pay showed interest in accepting Bitcoin as a means of payment we also have numerous merchant already accepting Bitcoin and few of them can be found here, Merchants Accepting bitcoins for Payment in Africa
[3]: Online transaction (money transfer):
Any one familiar with Africans knows we're migraters, there isn't any part of the world you'll go that you won't find Africans in their number, majority of the times it's the hustle that take them there. Many Africans leave their country for search of greener pastures in Western countries and when they succeed they always struggled to send money back to their families but with the help of Bitcoin everything has changed as sending money is now made easier, cheaper, faster and more secured. The luno wallet/exchange is one of the many platforms used for that purpose as it make it easier to convert Bitcoin to local currency.
If you're a blockchain developer and you were looking for the next regional area to get potential customer for whatever service you're providing I suggest you join the few companies tapping the potential found in Africa.
Here are some useful article you can read to convince you more;
Why Africa Is Fertile Ground for Bitcoin Adoption
Top 5 African Countries That Are Embracing Bitcoin
this was one of the reasons i invested in crypto in the first place, becuse i was told it was one of satoshis visions to level the playing field with a new currency so africa and other poor continents and countries could invest in something new to get a new chance at getting out of poverty.
Bitcoin in the country like Africa,
First Africa is not a country instead this is CONTINENT that composed of many countries around that continent Quote
we all know that this country is poor
Second Africa is not poor as what you think,maybe it was just being abused and not managed rightfully,but it wasn’t Poor I tell you thatQuote
many of African people are involve in Bitcoin trading and some of them are investors or holders of coins. They join bounty campaigns and ICO programs so that they can get money if that ICO get successful.
In all that you have mentioned only this is for me is right and truthful Quote
Imagine you can get coins by participating and doing the task completely and can earn money like dollars or euros. This is a big help for African people and thanks to Bitcoin cryptocurrency.
Not only in African people but for the whole world since not only the third world countries are benefiting here but also those big countries though some of him are hypocrites by not accepting that they are making money here by doing what “poor countries “did as they called
Africa being a continent plauged by extreme financial stratification knows cryptocurrency will help alleviate poverty. Nigeria being Africa's most populous country has a lot of individuals seeking alternative sources of income, hence, its high number of cryptocurrency exchanging. Bounty hunting for one has become a rather lucrative source of income there. Not to mention those that are interested in investing long term.
Bitcoin in the country like Africa, we all know that this country is poor and one of non economic country but, many of African people are involve in Bitcoin trading and some of them are investors or holders of coins. They join bounty campaigns and ICO programs so that they can get money if that ICO get successful. Imagine you can get coins by participating and doing the task completely and can earn money like dollars or euros. This is a big help for African people and thanks to Bitcoin cryptocurrency.
Africa is a fast rising continent with lot of tech institute bringing in their branches to some specific countries which are massively developing yearly, in as much as lot of people in Africa are still yet to fully understand the main aim behind cryptocurrency, the few ones in it are already making good use of it and spreading awareness in their society. I believe Africa still needs more real time blockchain utilisation to improve the market and the real time usage.
Africa is home to some of the fastest growing economies in the world (South Africa, Gabon.etc) and it will be mutually beneficial if Bitcoin establishes a presence in the continent. Also, the African diaspora is rapidly growing and Bitcoin can help them with money transfers and remittance payments. They can trust Bitcoin more than their volatile national currencies.
Bitcoin use is growing fast in Africa, and unfortunately where there is money flowing, scammers are also to be found.
There are LOTS of pyramid schemes and scams using bitcoin. Some of them not even using bitcoin, they just have bitcoin in the name, because people are starting to recognise the name and associate it with making money.
At the end of the day, bitcoin is growing in Africa fast, which is good for everyone
There are LOTS of pyramid schemes and scams using bitcoin. Some of them not even using bitcoin, they just have bitcoin in the name, because people are starting to recognise the name and associate it with making money.
At the end of the day, bitcoin is growing in Africa fast, which is good for everyone
Africa has a large community and the adoption of bitcoin is an important part of economic growth there.
I read African users are the 7th largest internet user in the world. this is the main capital to introduce crypto and develop blockchain technology.
I read African users are the 7th largest internet user in the world. this is the main capital to introduce crypto and develop blockchain technology.
Without a doubt Nigeria was on the number one list because most of the scammers in the internet are originated from there, it seems that scamming is the most profitable job in their country. I watched a documentary about scammers in Nigeria and they are truly an expert in different kinds of techniques when it comes to fraud that even the government of other country used to believed in those scams.
This accusations of yours is uncalled for and wrong in its entirety, how will you classify a country of over 180 mil people as scam loving individuals, Nigerians are hard working people and can fit into any organisation in any country of the world. Our contributions as a country to the worlds economy cannot be over emphasized both in human and mineral resources. Please, its better to treat issue instead of attacking a whole nation.That being said, Africans no doubt are fast embracing cryptocurrency in their masses. Lots of Africans especially nigerians has taken crypto trading as a means of lively hood
Massive adoption of cryptocurrency in Africa will be a big boost because of the huge population and its exponential growth but governments of various countries are not supportive of this. Africans need to see digital currencies more as a medium of exchange, where it can be used to purchase commodities other than an investment where you buy at low prices and sell when the price goes up. More awareness campaigns are needed in this regard.
There are more usage opportunities of Bitcoin in Africa if the African's will stand in one and accept the cryptocurrency to boost their economy and make them buoyant. Africans' problems are from their ground Fathers, hope they will embrace the technology and move faster with the tech for a better eye opener.
Good for Africa that they are starting using crypto currency in larger sums on the continent, but there is still a long road ahead. African governments are very strict and centralizer, what is a clear signal bitcoin will have issues in being implemented on those countries.
On the other hand, Nigeria is becoming a crypto currency reference in Africa, as most news about adoption are coming from that country. If Nigeria really gets notoriety in crypto space towards Africa, it has great chances in becoming the most influent country of the continent.
On the other hand, Nigeria is becoming a crypto currency reference in Africa, as most news about adoption are coming from that country. If Nigeria really gets notoriety in crypto space towards Africa, it has great chances in becoming the most influent country of the continent.
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