Bitcoin Forum

South Africa is still new to the Cryptocurrency markets. Would be interesting to know what people have to say about investing in South African Crypto Currencies.

I believe sooner or later, Cryptos are going to be in every country and widely used. It is only a matter of time. The benefits are massive.

I agree with you. so many benefits of crypto in our lives. although not all countries legalize it but some countries have been legal for crypto and bitcoin.

Maybe they have not got it right,
what is bitcoin how to invest her how ,,

UN, along with a number of non-profit organizations are already visiting the minorities of Africa to provide education on modern technology as well as establish a foundation to support the transport of electricity so that more people can have access to technology.

It's still a long journey, but there's progress.

Are you talking about cryptos/tokens based on south africa?
Crypto market is still in premitive stage in africa and there is no any clear rule and regulation on cryptocurrencies so future of bitcoin and other crypto is still uncertain there which makes it quite riskier to invest in tokens which are based in south Africa.

South African cryptocurrencies? What do you mean? I don't think there is any such coin. Anyway, South African peoples like any other nation will be attracted more and more by cryptocurrencies in future.

Op what do you mean exactly? Do we support, know about and invest in Cryptocurrencies, ICO, altcoins originated from South Africa?
Or what do we think of a general state of cryptocurrency market in South Africa? Because to be honest I don't know any altcoin with its root being in Africa.

I think the South African Cryptocurrency market is still very new and very vulnerable to metamorphism or collapse if they do not understand the nature of this digital currency. So, we need to pay attention to new markets like them, avoid bad situations that lead to the ban on using Cryptocurrency there, that is something that will never change.

i personally think they're going to be in the early stages for quite a while, the infrastructure to support widespread use just isnt there. first off, basic internet access needs to be a thing for the great majority of the population there to even access bitcoin. secondly, the people must have money. not just money, but spare funds they could use to get into bitcoin. without financial security, there would be no incentive to keep bitcoin and not sell it to cover living expenses. bitcoin, as it is, isnt usable everywhere, especially for basic necessities such as food. the last fundamental requirement i think would have to be education; without the general know - how on safe bitcoin use, i dont see many people picking it up, and even if they did, they'd be discouraged from ever touching it again if they were to get hacked / scammed, which a lot of newcomers do.

What are SA cryptocurrencies??I don't even understand what you mean here? Where are they not new? There's has been Bitcoin exchanges in SA since 2012/3. Contrary to popular belief, bitcoins will be bought in SA if found useful. Thats what drives people to buy anything is its usability. Right now bitcoin is not useful to many in SA. 2016 even early this year there was a boom on bitcoin sales in SA only because of the MMM ponzi. So I am assuming you are saying there needs to be more investment in crypto businesses.

Almost everyone has a smart phone, so internet is not an issue.

If people can invest in a ponzi, surely they can invest in a business with more credibility. So I doubt money is an issue either.

I also believe you. BTC will eventually commonly used by other countries eventhough it will take time to recognize by everyone but hopefully will see the great effect of BTC soon.

what do you mean by this?

if it is a country issued coin, that makes it centralized and nobody wants to go near these types of altcoins. and they have not been of any significance so far despite other countries working on their version too. any coin that is created this way is also just limiting itself to one country, whereas a cryptocurrency needs to be global at the very least.

africans can be really a big help in this industry and in vise versa this industry  can really bring up their economy
 Only if they could used it properly. I doubt most of them are more on a micro earning type of earnings they worked for the amount that they earned. Sooner or later some of the africans would start exploring the higher scheme in crypto like trading

I'm confused. There are no South African cryptocurrencies to my knowledge. Would you happen to be talking about ICOs? I suppose they could be considered new to the markets, but that does not really disqualify them from having good ideas. You simply have to apply the same due diligence you apply to ICOs from any other country. You only have to be wary about investing in theirs for the same reasons you have to worry about others'. I see no reason to treat them any differently

As for state backed cryptocurrencies, I don't think there's a point in investing in them. Only reason you might want to is if you're running a business there from overseas or something.

Is there any Crypto currencies that is from South Africa? this is also the first time i heard such a thing or you meant that in the future if south African's created their own digital coins? by the way yes that's great if there's any, it is time to step up for the Africans to adapt and familiarize to the cryptocurrencies, most of all they will invest in bitcoin because in the near future they will profit from it and make the digital currency revolutionize to their country.

I think that each region will have their own crypto currency, with features specific for each regions needs. But I think they will all have one thing in common, they are being backed by bitcoin. There has to be one common standard/price, and that will no longer be USD, it will be BTC

Haven't you yet heard of Moya Networks ICO?  They are located and project is running in Sout Africa I believe.  Check out their local meetups which they talk about in their Ann thread.  Just go to the ANN (announcement ) section of alternate crypto and search "Moya" to find more.  They are well connected in the crypto game in that region.

I think it would be good for that country. because of the many levels of poverty in the African countries. it will make many people become more independent.

I think African countries are already getting into crypto more then you think.

Just imagine how much money they can earn from a simple thing like a signature campaign here. 100 USD a month for a few hours of work is a great bonus in those countries.

cryptocurrency is a decentralized currency that do not need any sentiment. We do not have to discriminate any of the token base on the country because that is what makes cryptocurrency different from the fiat currency. you can invest in any token provided the coin is promising.

Exactly, i totally agree with you, is only a matter of time and deliberate patience and cryptos are going to be in every country. However to invest in Africa you need to do your due diligence before you decide when to. There are going to be a lot of setbacks.

Nevertheless investing in cryptos is a very good initiative.