Topic: The used of Bitcoin in Africa - page 6. (Read 20490 times)
Thats good meanwhile I believe the most scammer are from these countries
Bitcoins has been used by all Africans and that is good for the economy as it helps in the over all development of the people and the economy as whole and it helps to eradicate major issues like unemployment issues and poverty from the continent. The people of African countries were ready to accept the new technology and embrace it with both hands as they wanted to bring a change in their country like freedom of finances which is possible only with bitcoins and block chain technology. Bitcoins has been used mostly by all the people in Africa and this has changed their lifestyle of living and has brought a positive impact in their lives.
Africa still not have good place for bitcoin because many country still not understand about how to use bitcoin, maybe need promotion on africa how to make bitcoin become more popular transaction there.
People in Africa want currencies that aren't printed by the central banks there though. You can sell USD easily...They were also first to adopt mobile payments with MPesa but the fees using M-pesa are up to 20%, people will definitely adopt bitcoin more over time.
It's the on-ramps and off-ramps to buy bitcoin in Africa that need to increase and have easy ways to move Rand or USD there into crypto. These countries have the most to gain from acquiring sound money.
African countries needs help to fight poverty since for all this time they are being abused by othr countries that takes their natural resources because africa is vry rich on those areas
Now they saw an opportunistic chance in form of cryptocurrency and they will take all the chances for them to grow big
This is one of the best action africa has made and i hope seeing them go bigger together with asian countries as well
Now they saw an opportunistic chance in form of cryptocurrency and they will take all the chances for them to grow big
This is one of the best action africa has made and i hope seeing them go bigger together with asian countries as well
Viewed from the contents of your topic, I conclude that in Africa for now there is sufficient knowledge in the world of crypto, especially Bitcoin, yes, this country is very chaotic both from society to the contents of nature that does not produce much fruit, except for many wild animals .
I hope that in the future, crypto in Africa will be received well and developed.
I hope that in the future, crypto in Africa will be received well and developed.
I have been read some articles that in the African continent, there are lots of people there that are so eager to learn and understand the world of crypto currencies. Isn't it is very pleasant to hear about. As for what I can see the community of crypto there are getting better. They are making the use of it into maximize and bring new better changes for all the people's lives there.
Africa is one of the continents that embrace cryptocurrency. Although most of the countries are underdeveloped and developing, people are gradually adopting cryptocurrency and its investment. The cryptocurrency merchants are also keen on the provision of crypto services to the extent of allowing the purchase of mobile phone airtime and payment of some TV satellite stations with cryptocurrency. If much crypto infrastructure is diverted to Africa, cryptocurrency will meet another rise in cryptocurrency adoption.
This topic has taught me a great lesson because Africa is considered as a continent that is in general, an always late in development and if people on this continent are ready to accept and use crypto in such a manner, I see crypto adoption to be very easy because even those we considered as the last to learn have learnt to learn what is good and active trading it.
Countries in the African continent are very good at utilizing technological advances, including in the field of financial transactions, many projects have sprung up from these countries. even because there are already regulations on bitcoin in these countries, many people are interested in using crypto currency as a tool for financial transactions.
Africa is going to be the new south america. It is perfect for bitcoin as it is transparent so no more corruption by officials
Wow Africa is doing a great performance in the crypto currency community. One time, I have been read an article where in Africa, there are many activities regarding blockchain where a lots of people are aiming to gain knowledge and different ways to use them. For now, I can say that this could be the chance of the continent of Africa to a better changes despite its current state in its government issues.
Africa and some third world countries are easily adapting Bitcoin technology because they see a great potential and hoping that it will help them in terms of financial issues. I also noticed that newly created Blockchain projects are targeting Africa because of massive people who are into Bitcoin.
- I don't think people in Africa are adapting and very active with using crypto and bitcoin because their living conditions and development do not seem to allow too many people to participate in this area, they are still very tired and trying to fight everyday life, using a technology like crypto and bitcoin, that is not the job they can do. People who are active in using crypto in Africa, these are probably criminals, they want to invest and launder money, even using crypto and bitcoin to buy weapons and buy banned items, a very popular thing with special features of bitcoin The idea of cryptocurrency has really grown in Africa. I have a friend in one African country university and he told me there are several programmes held on their campuz on blockchain and cryptocurrency.
Africa is a promising continent for future technology because it is still open to potential human resources and natural resources. In a modern country it is full of technology, where people have many choices to use. Unlike Africa, which is moving towards progress, thirst for technology.As long as the government and society move along the course of course Africa for the next few decades can become an economic power that deserves to be taken into account. Including the use of digital technology to maximize Bitcoin and empower the blockchain which is very efficient for all fields.
Africa and some third world countries are easily adapting Bitcoin technology because they see a great potential and hoping that it will help them in terms of financial issues. I also noticed that newly created Blockchain projects are targeting Africa because of massive people who are into Bitcoin.
The analysis you have made in terms of bitcoin usage in africa is true especially that of people in Nigeria using it as a means to stay out of poverty. I am a Nigerian and I have seen so many people who are into bitcoin trading and also bounty hunting. Infact, most Nigerian youths who are done with school and are yet to get a good job are either into bitcoin trading or bounty hunting or both just to make ends meet. There are also lots of Nigerians in different parts of the world including other Africans who has left their country to hustle and make money and now with bitcoin they easily send money home instead of usng western union which takes too much time and stress. In the past one year, I have seen lots of shopping been doen with bitcoin online by people too, that shows bitcoin usuage is really growing in this part of the world.
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 for 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
Good to hear such news as African nations has strong and good treatment to Bitcoin. I am very thankful to their government to let their people have financial freedom through cryptocurrency. I am also happy with my country because I am in a cryptocurrency friendly country that does not prohibit the use of Bitcoin but instead made a regulations between local exchanges for a safer and trusted transactions.[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
One of the best place to feed your innovations with people ready to accept and work with it is AFRICA. I can say that Africans are largely using bitcoin in all ways that they can and it’s spreading everyday among them. I am particular about west africa, majority of people have identified cryptocurrency as a means to be free from poverty and bondage and they have keyed into it. I am sure very soon africa will be one of the largest users of cryptocurrency in the world.
The idea of cryptocurrency has really grown in Africa. I have a friend in one African country university and he told me there are several programmes held on their campuz on blockchain and cryptocurrency.
Africans have embraced cryptocurrency though some countries have won its citizens against cryptocurrency. I have seen several projects which are owned and managed by Africans and that is really good.
Jokes aside, like others have said many people in Africa don’t have banks or don’t have the opportunity. But with rising mobile device usage cryptocurrency presents an excellent financial instrument that can help shield people from inflation or corruption. Also even making income from trading to help people out of poverty.
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