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Topic: The used of Bitcoin in Africa - page 8. (Read 20477 times)

sr. member
Activity: 672
Merit: 250
March 05, 2019, 09:47:55 PM
#74
For your interest in Africa crypto.
There is an article on Africa Blockchain Conference in 2019.
https://cointelegraph.com/press-releases/big-names-take-to-the-stage-at-the-blockchain-africa-conference-2019
Hope it helps, OP.
in the African financial and economic crisis for me if there is already enough bitcoin to improve in Africa and Africa can be a continent not inferior to America and Europe and Asia
full member
Activity: 672
Merit: 105
March 05, 2019, 08:57:17 PM
#73
Yes, I read a number of articles about this, in several countries in Africa realizing the importance of cryptocurrency in their business and encouraging cross-border trade and payments. But in Africa itself Bitcoin is not a currency but as an asset and investment, there are no shops or shopping centers that involving Bitcoin so that they must first exchange cryptocurrency into real money
sr. member
Activity: 1330
Merit: 256
March 05, 2019, 05:45:31 PM
#72
I think Africa has great potential to be a country with good crypto growth. I see today, many projects that introduce crypto for Africa. real estate for Africa, economic assets for Africa, and transaction platforms for Africa.

this is very significant growth, but I'm not sure if Africa will defeat Japan, China, and South Korea.
newbie
Activity: 40
Merit: 0
March 05, 2019, 04:47:56 PM
#71
oh, these figures look very promising, taking into consideration the fact that these statistics don't cover the whole picture
member
Activity: 322
Merit: 17
March 05, 2019, 04:20:24 PM
#70
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


Statistics show that 40% of the world's population do not have bank accounts and are therefore barred from all financial services
Most of these are from the continent of Africa and some countries of Latin America and Asia
So I think CRYPTO will have a great future in Africa but the idea has to be published
This is a big challenge.
full member
Activity: 952
Merit: 104
March 05, 2019, 04:13:03 PM
#69
Truly right bitcoin is very important in Africa because of digital currency the economies of Africa are goes uprise helping from their people to give decent income and it's been a year ago discussing about how much bitcoin important in Africa.
And yes the mass adoption and support from the different country are continue because they understand well how bitcoin important came from the new technology.
copper member
Activity: 420
Merit: 26
March 05, 2019, 04:05:23 PM
#68
Truth be told, in Africa we see bitcoin as an investment rather than as a medium of payment. So, we acquire it and then wait awhile to resell it like a real estate. In Nigeria, I am yet to see any shop accepting Bitcoin for payment. One has to exchange bitcoin first into fiat before any payment for goods and services.
Well I agree with this. Bitcoin have been rampant in Africa in General especially West Africa and South Africa Countries. In Nigeria, an online shopping company like Jumia, Konga and many others once accepted Bitcoin as mode of payment. Also in some popular Cities in Nigeria like Abuja and Lagos, I have also seen some buying and selling of landed property were Bitcoin were deployed as the means of transactions. And recently I heard South Africa have launch a Bitcoin ATM. So we are still Developing and hopefully it will continue to circulate and gain more adoption.

Here in Abuja Nigeria Bitcoin has been known and adopt by the elite. In 2017 November 23, I went with a friend who bought some landed property with Bitcoin, also, Bitcoin ATM machine has been installed in central area district in Abuja which I personally used for Bitcoin transaction. You equally buy and sell Bitcoin at Wuse Market in Abuja. Guys if you no know road make we show you road ehh.
Wow, this is Good to hear. I am aware of the Buying and Selling of Bitcoin at Wuse Market here in Abuja but haven't seen BITCOIN ATM Machines like you claim here that are already installed in Abuja Nigeria. You can send the exact location here or inbox or you can help with the picture of the ATM also. Don't just come here and write what doesn't exist yet or what is in the plans. I only know of Bitcoin ATM in South Africa and none in Nigeria.
copper member
Activity: 420
Merit: 26
March 05, 2019, 03:28:34 PM
#67
Truth be told, in Africa we see bitcoin as an investment rather than as a medium of payment. So, we acquire it and then wait awhile to resell it like a real estate. In Nigeria, I am yet to see any shop accepting Bitcoin for payment. One has to exchange bitcoin first into fiat before any payment for goods and services.
Well I agree with this. Bitcoin have been rampant in Africa in General especially West Africa and South Africa Countries. In Nigeria, an online shopping company like Jumia, Konga and many others once accepted Bitcoin as mode of payment. Also in some popular Cities in Nigeria like Abuja and Lagos, I have also seen some buying and selling of landed property were Bitcoin were deployed as the means of transactions. And recently I heard South Africa have launch a Bitcoin ATM. So we are still Developing and hopefully it will continue to circulate and gain more adoption.
full member
Activity: 630
Merit: 102
March 05, 2019, 08:19:01 AM
#66
In Africa there have being a high level of inequality in terms of financial distribution and circulation, also high charges from the traditional banking system. The whole continent is embracing bitcoin because it is the surest ideology that will solve some of this problems. 
member
Activity: 616
Merit: 30
March 05, 2019, 06:52:07 AM
#65
Nice to know that Africa is involved. While Europe and USA are busy with political matters Africa is gaining power which is great. I foresee some really good projects there.
Africa needs everything that will help their economy grow and they saw the potential of cryptocurrency tp favor their needs,and i am happy how the government of africa gives opportunity for the people making some profiteering as longs it was legal and not poviding issues towards them
jr. member
Activity: 308
Merit: 8
March 05, 2019, 06:38:29 AM
#64
In Africa, some of the government knows next to nothing concerning blockchain technology and Bitcoin. They are always seeing the transaction involving bitcoin as a scam and ultimately an economic crime. Their citizens dealing with bitcoin are doing so at their own risk. I think the first point of call is for the government to acknowledge bitcoin and legalize the usage in their economy.
sr. member
Activity: 994
Merit: 302
March 05, 2019, 06:11:14 AM
#63
LOL, Nigeria on top. Well, gotta find a way to move around all that money.

But talking about Africa in general, it's easy to see why they are embracing Bitcoin. A large portion is still unbanked and since the telecom industry was slow to build phone lines, they transitioned rather quickly to mobile. Dealing with money digitally has become natural.

I believe there are also charities using bitciins to send donations so that gave people more incentives to use it themselves. They can just ask to be sent the donation in bitcoin and keep some for holding.
legendary
Activity: 2128
Merit: 1775
March 05, 2019, 05:30:22 AM
#62
A good and positive thing, about Bitcoin users in Africa today, I also think positively about this news,
in another discussion on Bitcoin in Africa, there has been a very good increase in education and cryptocurrency this year, with very limited economic and educational conditions, bitcoin is a good alternative in Africa, this is what the world in particular in the crypto sector is concerned about Bitcoin.
In the meantime it still gives a very positive thing for cryptocurrency.
In conclusion: Bitcoin can change the economy and the special life of this African community the best.
full member
Activity: 1470
Merit: 148
March 05, 2019, 05:16:47 AM
#61
This is a great community service the fit to talk section dedicated to Africans
Africans comprise a huge number in the forum and they are fast getting involved in cryptocurrency with high level of youth

The population of Africa continent is big and hoping the crypto-community can look into this great potentials from Africa. In Africa we have youths who are seriously engaging themselves day by day with cryptocurrency forums and getten to know more of it operations. Am proud to be from Africa the most reserve potential resources on the planet earth.
sr. member
Activity: 2842
Merit: 326
Vave.com - Crypto Casino
March 05, 2019, 04:42:00 AM
#60
The truth is that the African government are not interfering with citizens who deals in cryptocurrencies particularly bitcoin in Nigeria the Central bank advice its citizens to stay aware from cryptos however the anonymous transaction and usage of bitcoin makes it easier for people in African to adopt particularly to buy at low and sell at high accruing some profits then exchange to fiat using some notable exchangers even though its on record that no business organisation, stores etc had started accepting cryptos.
sr. member
Activity: 952
Merit: 323
March 05, 2019, 02:26:47 AM
#59
Bitcoin has good future in south Africa, even the price of bitcoin is rise against rand south africa. Now it's about 52,000 rand per 1 btc . People there really like to trading bitcoin, there are many exchanges site that ease african people to trading, exchange such as abra, etoro and coinmama and etc was ease people there to buy bitcoin via credit card or bank transfer. So its make the adoption grow faster. I hope people there more often to use bitcoin at online shop rather than use it for trading.
newbie
Activity: 82
Merit: 0
March 02, 2019, 05:18:40 PM
#58
Did the uses of bitcoin increases in Africa? Probably, the usage may have increased in some other African countries like South Africa and the rest but in Nigeria, i will say no, reason been that majority of Nigerians knows about bitcoin (Majority= a large number of people) during the era of ponzi scheme called MMM, If you are from that part of the world you will definitely know what i mean by MMM. Its a ponzi scheme that make many Nigerians to be dealing and owning bitcoin incliding me. Bitcoin could have been porpular than its or even popular than our Naira it self if not for the bad reputation of MMM, in fact government need to start warning people to stop trading with bitcoin after MMM collapsed and many Nigerians lost millions of dollars to the fraudulent scheme. I lost a lots of my investments too. Many Nigerians like me who still do have anything to do with bitcoin are doing it because of our own research and efforts done in findings that Proof  that bitcoin is not a scam like our government used to make it look like. Though, you can be scarmed which is not limited to bitcoin alone, as scammer are everywhere in every bussiness.
legendary
Activity: 2310
Merit: 4085
Farewell o_e_l_e_o
February 28, 2019, 02:58:50 AM
#57
For your interest in Africa crypto.
There is an article on Africa Blockchain Conference in 2019.
https://cointelegraph.com/press-releases/big-names-take-to-the-stage-at-the-blockchain-africa-conference-2019
Hope it helps, OP.
hero member
Activity: 924
Merit: 501
February 22, 2019, 01:35:32 PM
#56
Nice to know that Africa is involved. While Europe and USA are busy with political matters Africa is gaining power which is great. I foresee some really good projects there.
hero member
Activity: 3052
Merit: 651
February 18, 2019, 01:33:21 AM
#55
Its a good sign. But it is Africa and we know it is not yet that continent with high technology.
Despite that, if they are using it in high amounts then we might be in a good year.

If only this can be done to more known countries with great technology then be shared to another country then it will be an easy walk for bitcoin to be used regularly.
But look at us now, we are still having problems without fiat on our side or credit cards.
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