Will Africa be a good place for crypto? - page 9.

shoreno

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Quote from: Free1bitco.in on July 03, 2019, 02:19:01 AM

Quote from: Fundamentals Of on July 02, 2019, 09:55:33 PM

I am not from Africa but what I am sure of is that crypto is good for everyone. It does not belong to a chosen people. It is built for everyone,

I agree with your opinion. I also feel that crptocurrency is suitable for all places, not only in Africa, but throughout the world

Yes thats true . cryptos are created for all people/countries but the problem is that every country has its own president or government and they are the ones that can decide first if what is good and bad for thier people . they can ban cryptos whenever they wanted to and you as a regular individual cant do anything about it .

Anyway , i dont see any illegalities of cryptos on africa but i cant decide if its a good place for cryptos or not . some can conduct a survey on that country to see their perfromance

Free1bitco.in

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Quote from: Fundamentals Of on July 02, 2019, 09:55:33 PM

I am not from Africa but what I am sure of is that crypto is good for everyone. It does not belong to a chosen people. It is built for everyone, regardless of the continent you are from, the language you are speaking, the race you belong to, and so on. The problem is, Africans, each one of them, should have first and foremost the access to internet, to basic services like electricity, and all so that they will be able to enjoy the benefits of technology.

I agree with your opinion. I also feel that crptocurrency is suitable for all places, not only in Africa, but throughout the world, depending on who receives and uses it. if Africa uses this technology, I think that can be the right thing, it's just that this requires knowledge of information technology, and of course fast networks. If Africa fulfills that, I think it's worth trying. I'm sure this will be very useful.

Fundamentals Of

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I am not from Africa but what I am sure of is that crypto is good for everyone. It does not belong to a chosen people. It is built for everyone, regardless of the continent you are from, the language you are speaking, the race you belong to, and so on. The problem is, Africans, each one of them, should have first and foremost the access to internet, to basic services like electricity, and all so that they will be able to enjoy the benefits of technology.

iv4n

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Every place is a good place for crypto. I wouldn`t make a difference between places and people, crypto is for everywhere and for everybody. It`s without borders, without discrimination, is it so hard to understand? People try to put crypto in some frame but it`s impossible. Stop doing that and accept it is as it is.

romero121

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African countries have begun to move towards the cryptocurrency usage for various reasons, the most important being the money value decline that they encounter. Days back the price of bitcoin in Zimbabwe have skyrocketed as the government have come up with regulations that Zimbabwe currency alone need to be used on every needs.

Usage of USD is termed illegal, with this the eye have turned towards bitcoin and the same got reflected on the price reaching $75000+ per bitcoin on the localbitcoins.com which show the pure growth of bitcoin usage around the country.

Irvinn

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Quote from: bitcoin31 on April 22, 2019, 06:26:42 PM

If they really help for their econony it is good for them to use crypto or bitcoin in their country or continent. We know bitcoin is really helpful to rise ecobomy not only high but a little bit they have shares to rising ecobomy in one country.

I would prefer to hear specific facts, although you can always bring Japan as an example, which fully develops its cryptocurrency market and national cryptocurrency, while fully implementing Bitcoin. But not all of the governments of countries think that way, because even India strongly resists the cryptocurrency market, where they want to impose criminal penalties for using cryptocurrency. And how will the cryptocurrency be implemented in Africa, where even the level of education is very low?

bitcoin31

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If they really help for their econony it is good for them to use crypto or bitcoin in their country or continent. We know bitcoin is really helpful to rise ecobomy not only high but a little bit they have shares to rising ecobomy in one country.

Kelvinikke

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Well the vision is to see cryptocurrencies being used globally as medium of payment but i don't think Africa has the systems in place as at now to enhance the use of cryptocurrencies especially in countries that are in the West of Africa. South Africa is doing very well in the adoption of cryptocurrencies but in general let's give ourselves like the next 5 years to actually see the full adoption of cryptocurrencies in Africa.

DAVETUN

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Base on population advantage African countries adopting CRYPTO is a good developmental for the sector, technological development is on the increase and the educational level of individual is on the increase therefor African continent is a good place for crypto.

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Quote from: dEjAvOU on April 22, 2019, 10:44:25 AM

Quote from: 3x2 on April 22, 2019, 10:16:10 AM

Africa is a great market for crypto currency, most people living in this region dont have faith over the conventional fiat. They tend trust crypto. The telcoin had boomed with African investment during the ico.

Yes right, African population is very good for crypto development, especially most African currencies are not good so the presence of crypto can be accepted quickly, the biggest problem is the internet, because most places have not been reached by the internet.

this situation is similar to Venezuela, where the level of inflation has been severe. with this legalization, of course, there will be more and more cryptocurrency users, thus helping to develop it

tadpole_bitfrog

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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?

I believe that Africa will be able to do this miracle and their country can grow better. countries that support bitcoin will surely have a bright future and their country will have many million dollar technology businesses.

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Quote from: 3x2 on April 22, 2019, 10:16:10 AM

Africa is a great market for crypto currency, most people living in this region dont have faith over the conventional fiat. They tend trust crypto. The telcoin had boomed with African investment during the ico.

Yes right, African population is very good for crypto development, especially most African currencies are not good so the presence of crypto can be accepted quickly, the biggest problem is the internet, because most places have not been reached by the internet.

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Quote from: Tungsten-1 on April 22, 2019, 10:01:55 AM

Quote from: terrong on April 20, 2019, 09:12:58 AM

I think Africa is not a good place for crypto, there are not many crypto users in Africa, I also look there are some projects from Africa like ''afrochain" ... and i think it is a low project, for now Africa doesn't have a big crypto community

No for me Africa is the best place because people are mostly educated only few people are not aware of this technology, I have been in Africa in 2016 at that time there were people who used crypto currency so now it is 3 years ahead you can imagine the difference, price is high and price difference is really good for us, Africa is not an old fashioned countries now.

But knowing and applying for life and daily use are different stories, and so as you say, they can be educated and know about this technology but the rate they will join and use, it seems to be very low because from many different sources of information, even through google, you can see that Africa is still a very weak place to use and participate in these technologies, poverty and backwardness for a long time made them unable to adapt to new technology, perhaps they need more time for the economy to be better and more stable, and when things get better, Africa will be a good place for crypto.

3x2

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Africa is a great market for crypto currency, most people living in this region dont have faith over the conventional fiat. They tend trust crypto. The telcoin had boomed with African investment during the ico.

calya

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Quote from: Tungsten-1 on April 22, 2019, 10:01:55 AM

Quote from: terrong on April 20, 2019, 09:12:58 AM

I think Africa is not a good place for crypto, there are not many crypto users in Africa, I also look there are some projects from Africa like ''afrochain" ... and i think it is a low project, for now Africa doesn't have a big crypto community

No for me Africa is the best place because people are mostly educated only few people are not aware of this technology, I have been in Africa in 2016 at that time there were people who used crypto currency so now it is 3 years ahead you can imagine the difference, price is high and price difference is really good for us, Africa is not an old fashioned countries now.

if in africa they use or invest cryptocurrency it could be solution for each citizen to keep their fiat money value.as we know in africa inflation so high.and crypto can solution for this.

Tungsten-1

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Quote from: terrong on April 20, 2019, 09:12:58 AM

I think Africa is not a good place for crypto, there are not many crypto users in Africa, I also look there are some projects from Africa like ''afrochain" ... and i think it is a low project, for now Africa doesn't have a big crypto community

No for me Africa is the best place because people are mostly educated only few people are not aware of this technology, I have been in Africa in 2016 at that time there were people who used crypto currency so now it is 3 years ahead you can imagine the difference, price is high and price difference is really good for us, Africa is not an old fashioned countries now.

Umkar

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Africa is not only poverty, hunger, wildlife and ignorance, although to a greater extent it is true. For example, in Nairobi, the capital of Kenya, there are many business centers where people with higher education work. The country's economy is developing rapidly and there are all conditions for the favorable development of cryptocurrencies. In order to better understand what development potential Africa has, I have collected several articles that I advise you to read:

https://www.ccn.com/kenyas-blockchain-task-force-advises-govt-to-replace-cash-with-digital-currency
https://www.un.org/africarenewal/magazine/april-2018-july-2018/africa-could-be-next-frontier-cryptocurrency
https://www.bloomberg.com/news/features/2018-10-31/closing-the-cash-gap-with-cryptocurrency
https://news.bitcoin.com/kenyan-crypto-adoption-and-trading-grows-despite-warnings-from-regulators/

carter34

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Quote from: GregH37 on April 22, 2019, 01:35:23 AM

Quote from: Wayan_Pedjeng on April 20, 2019, 07:06:53 AM

Africa is not a single country. There are more than 50 different nations and the laws and regulations regarding Bitcoin can be different for each of them. From what I have heard, sizable markets exist in three of the African nations - Nigeria, South Africa and Kenya. So as a first step, we can concentrate on these nations and later expand to the others.

Nigeria especially, they have really adopted bitcoin and there are lots of bitcoin traders and investors there. It’s been a long time that people there accepted bitcoin and I can remember that Luno even has their location there.

I haven’t heard or read much about crypto in other African countries. I have been seeing some interesting things about bitcoin happening there, some people even has the work of buying and exchanging bitcoin or any other type of cryptocurrency. There’s no place that is bad for cryptocurrency as long as the government allows it there. Cryptocurrency is decentralized and everyone is free to make use of it as long as it is allowed there in their country.

I don’t even know what made OP thinks of this kind of question, there are already lots of people making use of cryptocurrency there in Africa and lots of countries there allows the use of it. There are technologies there as well, though they are still developing, but there are countries there that are developing fast.

I think that usage of a crypto coin is not same as adoption. I have not read where an African government has made a statement of adoption of bitcoin. Yes people can use it and trade it just like other countries do. Adoption is total acceptance that the government too will incorporate into the financial system.

GregH37

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Quote from: Wayan_Pedjeng on April 20, 2019, 07:06:53 AM

Africa is not a single country. There are more than 50 different nations and the laws and regulations regarding Bitcoin can be different for each of them. From what I have heard, sizable markets exist in three of the African nations - Nigeria, South Africa and Kenya. So as a first step, we can concentrate on these nations and later expand to the others.

Nigeria especially, they have really adopted bitcoin and there are lots of bitcoin traders and investors there. It’s been a long time that people there accepted bitcoin and I can remember that Luno even has their location there.

I haven’t heard or read much about crypto in other African countries. I have been seeing some interesting things about bitcoin happening there, some people even has the work of buying and exchanging bitcoin or any other type of cryptocurrency. There’s no place that is bad for cryptocurrency as long as the government allows it there. Cryptocurrency is decentralized and everyone is free to make use of it as long as it is allowed there in their country.

I don’t even know what made OP thinks of this kind of question, there are already lots of people making use of cryptocurrency there in Africa and lots of countries there allows the use of it. There are technologies there as well, though they are still developing, but there are countries there that are developing fast.

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Quote from: hahahafr on April 15, 2019, 06:22:40 PM

I don't think Africa can really cope with the technology behind cryptocurrencies at the moment because most parts of Africa are still facing issues with energy supply and most of them also don't have constant internet supply. With the little amount of internet supply that is provided has also weak signals and this is really not good for cryptocurrency transactions. Hopefully Africa can come on board into the cryptospace have been fully developed.

Thats true, the government's concern is not for new technology, they are more likely to solve economic problems, how poverty can be reduced in their countries, because the economic inequality is very large, we cannot expect crypto adoption in Africa

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