The used of Bitcoin in Africa - page 4.

Jackrodwell

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Quote from: bitfocus on February 14, 2019, 07:32:45 AM

interestingly and surprisingly, African nations are very positive toward crypto and blockchain from the beginning!

Yes "once beaten twice shy" so they say and it's really un beliveable of the turn out of the African nation into crypto industry, this shows that the future is bright for every crypto holder, better days ahead

BennyK

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Africa has a great enthusiasm for Bitcoin. The major problem here is that most of the indigenous people lack the basic knowledge in computing, technology and ICT, hence makes it difficult to explain the concept of Blockchain and Bitcoin to them. The elites are however supportive and I believe it will reach a greater spread if Bitcoin ATMs and more crypto community enter Africa. The merchants in Nigeria like the Cofred and Ecurrency4u are doing great work by offering a 24/7 crypto services to users.

Anonylz

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Quote from: olamidey on May 02, 2019, 12:38:48 PM

Quote from: BlackPanda on May 02, 2019, 07:12:34 AM

Africa is one continent that does have a very large population so that if crypto can be applied properly on the African continent it will grow the number of financial transactions that are so large. But facilities and infrastructure are an issue that must be considered. the fact that the African continent has inadequate infrastructure so that the development process will be hampered. What needs to be done is to improve the existing facilities and promote far wider internet access. The African continent has very good potential if it can be developed regularly and in an organized manner.

This would be a great boost to Bitcoin and cryptocurrencies if Africa wakes up and gets in fully into blockchain. Already Nigeria is leading the pack in crypto trading and of course blockchain adaptability in Africa and other countries are coming up too. Despite this fact, African governments still see bitcoin has illegal and no regulations or rules guiding it's activities and as a result, it's being labelled scam by mistake government. It's a matter of time, bictoincash will continue to grow in Africa

Not only African Governments sees btc and crypto in general as illegal activities and try as much as possible to restrict it's citizen's from engaging in it, other developed countries also have the same perception, since crypto don't have any regulations whatsoever they don't want citizens of their country to get involve because of their personal interest,

I think the awareness about crypto is increasing in Africa and i believe most major states and cities in each country don't have issue of infrastructure especially electricity so the question of not having access to internet is very minimal, this can only be found in the very remote areas.

olamidey

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Quote from: BlackPanda on May 02, 2019, 07:12:34 AM

Africa is one continent that does have a very large population so that if crypto can be applied properly on the African continent it will grow the number of financial transactions that are so large. But facilities and infrastructure are an issue that must be considered. the fact that the African continent has inadequate infrastructure so that the development process will be hampered. What needs to be done is to improve the existing facilities and promote far wider internet access. The African continent has very good potential if it can be developed regularly and in an organized manner.

This would be a great boost to Bitcoin and cryptocurrencies if Africa wakes up and gets in fully into blockchain. Already Nigeria is leading the pack in crypto trading and of course blockchain adaptability in Africa and other countries are coming up too. Despite this fact, African governments still see bitcoin has illegal and no regulations or rules guiding it's activities and as a result, it's being labelled scam by mistake government. It's a matter of time, bictoincash will continue to grow in Africa

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Are there any popular localized exchanges (created in Africa/HQ'd in Africa) that are facilitating this volume?

traderethereum

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Africa could be a good place for the adoption of bitcoin, and there are already store that accepting bitcoin as the payment. The OP gives information about the bitcoin growth in Africa, and that is good because we can see that bitcoin has spread very well in that country. I think soon, all country in Africa will look bitcoin as a new way to help them to make a better life.
Thank you, OP for giving good information about what happened in Africa related to bitcoin.

dat.ho12492

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Quote from: BlackPanda on May 02, 2019, 07:12:34 AM

Africa is one continent that does have a very large population so that if crypto can be applied properly on the African continent it will grow the number of financial transactions that are so large. But facilities and infrastructure are an issue that must be considered. the fact that the African continent has inadequate infrastructure so that the development process will be hampered. What needs to be done is to improve the existing facilities and promote far wider internet access. The African continent has very good potential if it can be developed regularly and in an organized manner.

Well, the population in Africa is really huge and if we exploit the use of crypto and bitcoin in this community, this will be a development step for the market but this very simple thought seems impossible because the level of education in Africa is too low, technology and people's access to technology is not too developed. And the governments of African countries are constantly improving this issue, but perhaps we will need a long time to see Africa start using crypto and bitcoin in a common way, the improvement is still too slow

BlackPanda

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Africa is one continent that does have a very large population so that if crypto can be applied properly on the African continent it will grow the number of financial transactions that are so large. But facilities and infrastructure are an issue that must be considered. the fact that the African continent has inadequate infrastructure so that the development process will be hampered. What needs to be done is to improve the existing facilities and promote far wider internet access. The African continent has very good potential if it can be developed regularly and in an organized manner.

Distinctin

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Quote from: BorisWCR on April 11, 2019, 04:48:43 AM

Bitcoin is really kicking its tail and waggling around the globe. Even the Africa is not letting themselves to left alone in the vast of elsewhere. And now, Bitcoin is widely been used too in the different ways like stated above. This is good to see and I can see that Bitcoin will keep having its way to its future ahead.

There is no hindrance for everyone to adopt in crypto since it's decentralized and we can call this our own, unless your government will ban crypto.
Africa need, to my knowledge they have a high remittance fee but with bitcoin they can minimize it.
In addition, it will help them find opportunity online and accept bitcoin as payment.

BorisWCR

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Bitcoin is really kicking its tail and waggling around the globe. Even the Africa is not letting themselves to left alone in the vast of elsewhere. And now, Bitcoin is widely been used too in the different ways like stated above. This is good to see and I can see that Bitcoin will keep having its way to its future ahead.

Xalata

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Most of the times Africa seems to be behind in all technological advancements but i am glad they have taken steps in adopting the blockchain technology as early as possible. I wish they could tap into the transparency of the blockchain distributed ledger to reduce the level of corruption in some countries.

maman567

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Africa still have lower user invest their money in bitcoin, economic crisis make us of them more focus looking real job and left about how to get money with cryptocurrency bitcoin and altcoin, we have promote bitcoin for them.

tranthidung

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In a nutshell, there are some barriers for the growth of crypto in Africa:
- Lack of Internet Connections.
- Low general level of Education.
- Internal conflicts (civil wars, for instance).
- Low level of income and lack of fundamental things of human lives.
However, as the fact of human civilization, where difficulties exist, there also have lots of gains in the future. People have to fight for their lives, and their efforts will make big changes. As the saying goes, "no pain, no gain". I strongly believe that the Africa continent will play important role in the crypto world map in the next coming decades.

sijonru

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Quote from: sammyp on April 07, 2019, 04:24:59 PM

There is no doubt that Africa is doing well in recent times regarding the use of Bitcoin as well as other altcoins. The problem I find is that we on our part are doing very little to the sell the blockchain technology to those who are alien to it. I see Africa as a part of the globe where many countries are struggling to have their fiat currency stable and therefore wouldn't have had a problem using bitcoin. We are on track although but it would be good if we could be a little faster.

In Africa the most important problem is the number of inland areas that have not been touched by the internet, because of the heavy terrain and inadequate level of education. Africa is in the stage of improving development infrastructure towards progress.
So for now bitcoin is not popular in Africa, there are still very few users. But for the long term, for example, ten or twenty years into the future, I am sure that Africa will become a new continent with a good level of growth and advanced people, so the impact of using digital currencies is increasing. Bitcoin will keep up with progress in Africa.

DreamStage

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Thank you for such fulled information topic about Africa's Bitcoin embracement.

From my opinion i concur they do have to use it in order to achieve a more internacional income thus making a more rich economy.

Those Bitcoin approaches will eventually produce not only profit for africans but as well as new technologies for helping their daily lives.
The money they get from it will surely help in producing advanced solutions for their health and maybe buying a new healthy life style products.

thankyoulord

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Your analysis is right. I am a Nigerian and the truth is so many Nigerians currently are into bitcoin. Majority are into trading as they see it as a means of survival since no job. Bitcoin has made so many rich in my country Nigeria making so many youths to dive into investing in it and trading too. Though we can not for now buy any thing in my country with bitcoin, virtually almost everyone here owns some quantity of bitcoin.

Noa_Amable

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Nigeria surpised me a lot. it is really huge volume comparing it with the rest countries.
Still, I wonder what is real usage of that in Nigeria? Doesn't it look like laundering?

Ailmand

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It's a great thing to know that bitcoin has been reaching every corner of the world. I didn't expect that it could reach Africa that fast and that it would adopt bitcoin that easy. Who would have thought that they are willing to accept the digital currency? It will surely be a big help for their economic growth.

lyks15

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It is a good decision from the Africa to embrace the bitcoin in their industry. It is a big help from them. I think those people coming from Africa especially from the town who have only a minimal progress. I think if they learn and if they master the right use of bitcoin as a payment system or most specially as a investment they can improve their life.

sammyp

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There is no doubt that Africa is doing well in recent times regarding the use of Bitcoin as well as other altcoins. The problem I find is that we on our part are doing very little to the sell the blockchain technology to those who are alien to it. I see Africa as a part of the globe where many countries are struggling to have their fiat currency stable and therefore wouldn't have had a problem using bitcoin. We are on track although but it would be good if we could be a little faster.

Topic: The used of Bitcoin in Africa - page 4. (Read 20407 times)