Will Africa be a good place for crypto? - page 4.

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Quote from: Sahyadri on October 22, 2019, 07:19:58 AM

Many countries in Africa have the problem of under-banking. Many of them couldn't do online businesses because of this. Some countries have bad reputation because of online frauds.

I do not think many countries in Africa are under banked. The use of smart phone has increased remarkably in African countries and also online banking services. Credit cards are also very popular around here. And cryptocurrency is an alternative, not a replacement. Someone without access to banking services is very less likely to use cryptocurrency for transactions.

On the issue of online frauds, that is prevalent in almost every region of the world, and is not peculiar to a certain country or continent.

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Quote from: sirminesalot on October 22, 2019, 07:11:05 AM

Quote from: reality18 on October 19, 2019, 11:40:37 PM

Aside the low technology adoption level and poor internet connection and accessibility in some areas in Africa, Africa embraces anything that yields profits. Most of the countries have high unemployment rate and as a result, introducing most of the crypto projects in Africa will help the people in terms of jobs creation and also on the investment aspect.

someday surely bitcoin will be adopted by other countries following africa because adopting bitcoin can make the country's economic development develop and the system used by crypto currencies is very transparent so that it reduces the movement of corruption and the country will slowly become a country free of corruption

The idea of adopting due to the usable premises is not the main factors why people in africa will embrace this system, but the opportunities to have a good benefits after investing your money. People inside this place are always aiming to have a good place to earned they are lack in educations and many are unemployed by knowing that there's a chance to earned by investing this people will take the risk and try to learned this technology.

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Quote from: abhiseshakana on October 22, 2019, 06:50:40 AM

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Do you think that will happen in the next 5 years? Crypto is a payment instrument there. I know that so far most of the population there is still limited to using crypto as a mere investment tool to get instant money. I see a lot of advertisements on social media that offer this.

The majority of countries in Africa are poor countries. With chaos even security and political conflicts. Its poverty is evenly distributed in all regions and the level of education is also low. To adopt cryptocurrency technology will take a long time.

Cryptocurrency cannot be a solution to problems in the third world because what is needed in the short term is to increase human resources and equitable infrastructure. What Africa needs is not only help to live but also opportunities to raise the standard of living from unworthy to simple. Never mind thinking about investing to survive today they are just having a hard time.

Blockchain technology requires high costs and speculation that cryptocurrency can change the fate of Africa is still questionable. In addition, education is needed for the use of the internet in Africa and the distribution of internet networks there.

Surely the implication of the cryptocurrency in a poor country with an unstable economy may cause a harmful effect. As the majority of the countries in Africa needs basic things like food and education prior to anything so crypto will bring no good. Only a few percentages of the people in those countries will be able to handle the cryptocurrency and if gov failed to regulate then it may be used illegally.

And the second thing is the infrastructure is not ready in those country to adopt crypto. They first needed to provide 24 hours of electricity and an internet connection to use crypto currencies.

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Many countries in Africa have the problem of under-banking. Many of them couldn't do online businesses because of this. Some countries have bad reputation because of online frauds. Crypto won't only solve the problem of under banking and make it easier for people to start online business by making online transactions easier, but also will save people from frauds. A few African countries are also suffering with hyperinflation. Here too, crypto can be a saviour.

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Quote from: reality18 on October 19, 2019, 11:40:37 PM

Aside the low technology adoption level and poor internet connection and accessibility in some areas in Africa, Africa embraces anything that yields profits. Most of the countries have high unemployment rate and as a result, introducing most of the crypto projects in Africa will help the people in terms of jobs creation and also on the investment aspect.

someday surely bitcoin will be adopted by other countries following africa because adopting bitcoin can make the country's economic development develop and the system used by crypto currencies is very transparent so that it reduces the movement of corruption and the country will slowly become a country free of corruption

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Do you think that will happen in the next 5 years? Crypto is a payment instrument there. I know that so far most of the population there is still limited to using crypto as a mere investment tool to get instant money. I see a lot of advertisements on social media that offer this.

The majority of countries in Africa are poor countries. With chaos even security and political conflicts. Its poverty is evenly distributed in all regions and the level of education is also low. To adopt cryptocurrency technology will take a long time.

Cryptocurrency cannot be a solution to problems in the third world because what is needed in the short term is to increase human resources and equitable infrastructure. What Africa needs is not only help to live but also opportunities to raise the standard of living from unworthy to simple. Never mind thinking about investing to survive today they are just having a hard time.

Blockchain technology requires high costs and speculation that cryptocurrency can change the fate of Africa is still questionable. In addition, education is needed for the use of the internet in Africa and the distribution of internet networks there.

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Quote from: asus09 on October 19, 2019, 04:18:28 AM

Quote from: amphibian on October 15, 2018, 09:16:29 AM

Africa as a good place for crypto? Yes it would. Africa is a continent where some countries are ready to embrace good things. Ofcourse, banks are there to oppose certain things which are likely to pose their businesses to threat. Once africans realize crypto will fetch them money, they will quickly embrace it and work into crypto. However, in an instance where the money is keeping them to wait longer, trust me they will back off. Crypto will be good in Africa but the issue of patient can be a challenge.

Every country good place for bitcoin and altcoin if people want to adopt and government give regulation for bitcoin, but for Africa's people are they interested for investing in bitcoin and altcoin, look they like for investing with buying or selling stock or other online investing, have to try for listing legal coin there and look how interested african with bitcoin and altcoin.

Bitcoin and altcoins altogether were introduced to make people financially stable and giving them nice control over their finances. In Africa, people are suffering from inflation and they want to get rid of it. They definitely want some source or method through which they can earn huge money and bitcoin is best option for them under such scenario.

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Quote from: EdvinZ on October 21, 2019, 04:10:36 AM

Economically underdeveloped countries are really looking for different ways to strengthen their economies. Cryptocurrency business would be able to contribute to this. Take for example mining. On the African continent, there are a lot of sunny days, there could be placed mining farms, provided with electricity from solar panels. As for whether Africans can start using cryptocurrencies for everyday payments, I will say this — they can if the price of these cryptocurrencies will stable. And of course the government will give permission for this.

Do you think that will happen in the next 5 years? Crypto is a payment instrument there. I know that so far most of the population there is still limited to using crypto as a mere investment tool to get instant money. I see a lot of advertisements on social media that offer this.

I can't guarantee that the crypto currency will be good there, indeed the price of Bitcoin there is very high, and has a very important meaning,
but many projects there end up being fraudulent, such as GOLIX, WEBERCOIN etc.,
from my analysis of crypto currencies there other than Bitcoin maybe alone will not develop well and is not yet worthy of being called a good country for crypto

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Economically underdeveloped countries are really looking for different ways to strengthen their economies. Cryptocurrency business would be able to contribute to this. Take for example mining. On the African continent, there are a lot of sunny days, there could be placed mining farms, provided with electricity from solar panels. As for whether Africans can start using cryptocurrencies for everyday payments, I will say this — they can if the price of these cryptocurrencies will stable. And of course the government will give permission for this.

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Quote from: toast on October 21, 2019, 12:55:10 AM

Quote from: reality18 on October 19, 2019, 11:40:37 PM

Aside the low technology adoption level and poor internet connection and accessibility in some areas in Africa, Africa embraces anything that yields profits. Most of the countries have high unemployment rate and as a result, introducing most of the crypto projects in Africa will help the people in terms of jobs creation and also on the investment aspect.

many reasons a country accepts bitcoin or other cryptocurrencies may be one of the reasons that you convey in your opinion and we hope that all countries can accept crypto as a valid currency and of course with good reasons for economic development in the country and I'm sure Crypto currencies will be needed along with the development of the era and technology

Technology will continue to improve and in that case digital money such as crypto currency will be needed. all country are want to improve. and because of that they need something that help the economy much more, so crypto currency will do that. as you speak @toast the development will improve more that crypto will needed and thats true people in future want it to easier and faster online transaction. one of those country positively accept crypto will surely obtain the sympathy of the people.

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Quote from: Kwame21 on October 20, 2019, 05:06:12 PM

I kinda agree with your input. Once its good and the methodology is pretty acceptable, most Africans will accept it. I believe strongly crypto has a future in Africa.

There are 53 countries on the African continent, and all the countries there seem to know and use crypto. Cryptocurrency is a digital currency that is now reliable for the economic growth of its users. By trading, mining, investing, and others. I don't know how the rules are applied by African countries for crypto. But the last time I heard the news, Bittrex had collided with regulations in several African countries and was forced to close their companies there.
Are countries in Africa not friendly enough for crypto? Look at this announcement.
https://bittrex.zendesk.com/hc/en-us/articles/360034965072-Important-Information-for-Bittrex-International-Customers

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Quote from: reality18 on October 19, 2019, 11:40:37 PM

Aside the low technology adoption level and poor internet connection and accessibility in some areas in Africa, Africa embraces anything that yields profits. Most of the countries have high unemployment rate and as a result, introducing most of the crypto projects in Africa will help the people in terms of jobs creation and also on the investment aspect.

many reasons a country accepts bitcoin or other cryptocurrencies may be one of the reasons that you convey in your opinion and we hope that all countries can accept crypto as a valid currency and of course with good reasons for economic development in the country and I'm sure Crypto currencies will be needed along with the development of the era and technology

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Quote from: amphibian on October 15, 2018, 09:16:29 AM

Africa as a good place for crypto? Yes it would. Africa is a continent where some countries are ready to embrace good things. Ofcourse, banks are there to oppose certain things which are likely to pose their businesses to threat. Once africans realize crypto will fetch them money, they will quickly embrace it and work into crypto. However, in an instance where the money is keeping them to wait longer, trust me they will back off. Crypto will be good in Africa but the issue of patient can be a challenge.

I kinda agree with your input. Once its good and the methodology is pretty acceptable, most Africans will accept it. I believe strongly crypto has a future in Africa.

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Quote from: UconBit on October 15, 2018, 07:09:18 AM

The success of digital wallets in the African continent was really great and based on what I've read on news articles about it, it really helped the economy and the businesses when it all started years ago.
With this in mind, will Africans be welcoming of bitcoin/altcoin as a real currency and not just a quick way to earn cash or invest? Like using it as real money / cash?

We cannot conclude anything yet but considering Africa as a country that's not really great in terms of economy, having bitcoin or other altcoins as their monetary system would definitely help them to uplift their economy. Considering the fact that digital wallets were very successful in the given country, we should already know that they do tolerate the use of it. Let's keep on hoping that someday, they would totally regulate crypto to promote convenience and extra incomes.

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Quote from: UconBit on October 15, 2018, 07:09:18 AM

The success of digital wallets in the African continent was really great and based on what I've read on news articles about it, it really helped the economy and the businesses when it all started years ago.
With this in mind, will Africans be welcoming of bitcoin/altcoin as a real currency and not just a quick way to earn cash or invest? Like using it as real money / cash?

Africa is an equally good country for Cryptocurrencies actually it's a genuine excuse that people say that it's not that educated country therefore it might not quickly adopt it but I think things are changing there for good. I am pretty sure bitcoin will be adopted in there but comparing it with m-pesa is absolutely rubbish because m-pesa is just a digital wallet but yes if people are educated enough to use that they can also use bitcoin too.

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Quote from: reality18 on October 19, 2019, 11:40:37 PM

Aside the low technology adoption level and poor internet connection and accessibility in some areas in Africa, Africa embraces anything that yields profits. Most of the countries have high unemployment rate and as a result, introducing most of the crypto projects in Africa will help the people in terms of jobs creation and also on the investment aspect.

although it is good for cryptocurrency but it can only be used to adopt it, not entirely in Africa because I still doubt its safety, it is better for some cryptocurrency to be in Africa but not to be the center, maybe it can use other places too so it can be more secure because the data cryptocurrency spread throughout the country.

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Of course yes, I read some article about some medicine stuffs that uses crypto in Africa that become good and successful in terms of business. If the Africans will realize and see that the cryptocurrency can help them to earn money and also to used it as a personal currency they will realized that it can help in their every day lives. Africa will be a good place for cryptocurrency as long as their is a good internet connection then it would be good for crypto.

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Aside the low technology adoption level and poor internet connection and accessibility in some areas in Africa, Africa embraces anything that yields profits. Most of the countries have high unemployment rate and as a result, introducing most of the crypto projects in Africa will help the people in terms of jobs creation and also on the investment aspect.

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Africa is a good place for crypto just as it is on other continents. Due to economy situation and traditions, it will be difficult for the government to embrace it fully because of how they still perceive it as a quick way of making money for the masses, and it ability to disrupt the financial systems. Other blockchain technologies may possibly be accepted rather than crypto. The young populace of Africa are already excited about crypto, if these young people are allowed to lead various aspect of governance, then crypto will probably be accepted earlier than expected.

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Quote from: robelneo on October 19, 2019, 08:23:11 AM

Quote from: UconBit on October 15, 2018, 07:09:18 AM

The success of digital wallets in the African continent was really great and based on what I've read on news articles about it, it really helped the economy and the businesses when it all started years ago.
With this in mind, will Africans be welcoming of bitcoin/altcoin as a real currency and not just a quick way to earn cash or invest? Like using it as real money / cash?

I don't know much about Africa but I love their superhero Black Panther how I wish the Wakanda legend is true, but I can ay in general that any country or continent can adopt Cryptocurrency and any place on Earth is good for Cryptocurrency, as long as the place has an internet connection and the technology is ok for adopting Cryptocurrency it will be just fine.
As long as they can educate their people on what and how Cryptocurrency works the better for them.

Africa has an increasing number of crypto users worldwide. In fact, they got the country which has the most number of crypto search in the internet, aside from that, they also have different projects developing and creating. Let's see in the coming years, what Africa can give for the benefit of the whole crypto users.

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