Bitcoin Forum

Which African countries allow Bitcoin transactions? Is Bitcoin currently used to purchase items in any African country?

I don't have a list of countries where Bitcoin is currently being used (buying and selling) but lately I read that it is becoming popular in Zimbabwe and that just makes sense. Whenever a government and economy has big problems, you can expect that Bitcoin can be playing some roles that can help the people deal with bad news and difficulties. We have seen this in Venezuela and their experience can be replicated anywhere where there are conflicts and economic meltdowns.

Bitcoin is now booming in Asia and I am expecting that soon the whole of the African continent can be teeming with positive news relative to Bitcoin and cryptocurrency. This is the location where Bitcoin can be tested to the limits and I am sure that Bitcoin would pass with flying colors.

Africa..welcome to the Bitcoin Club! 

Here, maybe this can help you out:

List of African Bitcoin & Cryptocurrency businesses / services -> https://bitcointalk.org/index.php?topic=2154185.0

And as amTom123 has pointed out, bitcoin is Zimbabwe is skyrocketing to an astounishing $7K per bitcoin. Why? Because of the hardship and the economic crisis they are in at the moment, everyone is hoarding because they are thinking that there will be a lot of shortage of important things like food, water and fuel. And now they are hedging the situation buy hodling ar hoarding bitcoins. There failing economy will take years to improved, however the people thinks that they reverse it quickly by going into the ecosystem and buying bitcoins. So in times of economic crisis, bitcoin has provided a safe haven to store their wealth and value to buy outside their country like Venezuela's did right now or just simply having their wealth safe.

You contradict yourself. If Africans are experiencing problems with the economy that people earn little. This means that their income is enough only for most necessary things and they have no opportunity to save money for a rainy day. The only way for them to be able to stay afloat is earning bitcoins but they will not be able to hold them because they need money to live.

in Africa has no good facilities for doing business. here people earning money but it is sufficient to their daily needs. that country people earning money it is enough to their needs. so they have no chance to earn bit coin. if they earn they did not keep in wallet because they have to use for their daily needs only. so in my point of view Africa is not good to keep hold bit coin.

While Africa has not yet witnessed the high level of cryptocurrency adoption that the United States, Europe, and the UK have seen, there are several start-ups and individuals in Africa that are building an African bitcoin ecosystem by leveraging bitcoin and its underlying technology, the blockchain, to deliver innovative services to African consumers and businesses.

Some of the countries inside Africa's continent are already accepting and supports Bitcoin. Actually the growth of Bitcoin there is phenomenal especially Nigeria which over 100,000 of merchants there are now accepting Bitcoin as payment option. Also Zimbabwe which is the highest rate of Bitcoin ever recorded because of the demand for bitcoin is massive. Recently, Bitcoin almost hit $10,000 there. $9600 to be exact. It's because Zimbabwe is lacking of cash. That's very amazing. And i think many African countries will follow because of this.

 For exact list of African countries that are supports Bitcoin. Here
 https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

Just a Google search would have solved this. Virtually all African countries supports bitcoin not officially though but because the government of most of the African countries does not have the required facilities to either monitor crypto currency and thereby will have to study the more before taking the right steps. In the future when the amount of population involved is enough to command attention, then we might see some regulations coming so if you are in Africa, this is the time to convert to fiat and vice versa without much stress.

In Africa, many rich people. You probably have a perception of Africa as the medieval travellers. There are many poor and many rich people. The problem is that on the continent such as unfair distribution of wealth as in many other countries. I think that this reason makes people pay attention to bitcoin. The mass dissemination will come from these countries.

Well this is a great system and big opportunity for middle to lower class their to make good money so they can improved their quality of life, I have heard not enough news about Africa but as far as bitcoin is concern i believe this thing will surely help them for a brighter tomorrow. 

yes south africa is legal with bitcoin you can make use of bitcoin there.

most of African not know about BTC but till now law in Africa is week so that you can Buy / sell bitcoin easy 

For now yes, since maybe people there are not aware on this kind of system or just ignoring this great opportunity. Time will come and they will surely use bitcoin and people who are using bitcoin now there will surely making good money. Bitcoin will spread around the world for the comings years and i believe they will surely enjoy big profit one day.

Every people have their own right to own or use bitcoin for their need as long as their government are not against bitcoin by making legal policy.
I'm sure bitcoin will help most people who live on Africe especially when their fiat inflation's rate still quite high

Great, bitcoin will surely become more usable in many countries in the future and bitcoin will help all of use to become more financially free from stress. People should use bitcoin for good.

The main hubs for bitcoin in Africa are Accra, Lagos , Nairobi  and Cape Town . However, there are more and more cryptocurrency-based start-ups emerging across the continet.The most popular way to exchange bitcoin into local African currency is still the local peer-to-peer exchange.

Since Africa is one of the biggest/widest continent it is possible that they have exchange sites but legality of bitcoin in that country is a broad issue. "Nigeria" that is where my friend is he also use bitcoin but not sure at all if transactions through bitcoin is allowed.

I know of people using Bitcoin in south Africa. I am sure crypot currencies have a great future ahead in Africa!

Bitcoin thrives in Africa, growing rapidly in some major continent such as in South Africa.
Yes, bitcoin can be used to purchase goods in Africa, as one of the largest Supermarket, pick n pay, cooperate with electrum and Luno.
A major supermarket chain in South Africa, Pick n Pay, has started a trial to accept bitcoin payments in-store at its head office location. A payment technology company named Electrum provides the payments platform, with bitcoin exchange Luno providing the Bitcoin payment infrastructure.
https://news.bitcoin.com/south-africas-second-largest-supermarket-chain-pick-n-pay-trials-bitcoin-payments/

So we measure continents by "wide" ? Are we talking about continents or TVs?
Africa excels in one thing, the poorest of the poor.
No matter how many Africans are there, if they have only 2$ to spend a day they will fall behind the rest of the world.

Just a heads-up!
Africa 1.3 billion people, gdp 3.3 trillion ,  Germany 80 millions citizens, gdp 3.5 trillions.



How can that make sense?
People in Zimbabwe earn around 1000$ per year.
How could they afford to pay 5$ per transaction to use BTC ?

nice observation

I think that bitcoin can be used anywhere not depending on the place of residence

BTC is getting a very warm response in some of the African countries like Zimbabwe, South Africa, Morroco etc. Zimbabwe national economy is not much stable and so BTC usage is getting quite common there for big payment transaction.
But I don't think BTC is used for day to day transaction in any African country. Major reason for not using BTC as a day to day transaction entity is its high transaction fees and delayed confirmation.

They're trying to safeguard their wealth from Hyperinflation, which is rampant at the moment, and that 1000$ is the average, as someone mentioned below, there really wealthy families in african countries, there is a terrible distribution of wealth. And those that have little money try to earn through faucets or other cryptocurrency producing mechanisms, not only with BTC but other cryptos with lower fees.

Bitcoin will help generate wealth in Africa through bitcoin transactions and the valuation that this may have, many people in Africa are not banked by legal documentation, but with only having a smartphone they have the right to enjoy an economy global. ;D ;D

African countries have embraced bitcoin. There is no regulation, and a lot of businesses have adopted it as a faster and cheaper means of sending funds abroad. There is no regulation at all as most African governments are yet to come to grips with it.

A great portion of Africa people do not have access to banking services. Because of the wild landscape and many remote villages, it is not easy for someone to go to the Bank. Bitcoin, does not need bank infrastructure, so it can be easily used wherever there is internet connectivity. More over bitcoin make payments and wallets available, wherever there is an internet connection.

Lol. Do you think that in remote villages have Internet? I am sure that there is not even electricity. Bitcoin is a digital technology and it is not available in countries with underdeveloped infrastructure. I do not believe that bitcoin will ever be used by people who do not know how to read and write. It's impossible.

Africa has a long way to go because of the basic infrastructure that needs to be put in place in other to use bitcoin in terms of internet, electricity and basic education but at the same time, that does not remove the fact that for the few population that are involved, Africa has put itself in the scheme of things where you get to enjoy your earnings with little or no interference at least in the short while.

Today, we talk about projects and sites relating to bitcoin excluding some citizens of some certain countries but not in Africa. Yesterday I read about court ordered Coinbase to release information of those who have made transactions on their platform and this is not happening in Africa which shows how receptive Africa is to bitcoin at this time.

Even in my country that is poor in all the remote villages has internet access



in all the villages of my country have electricity, do you imagine in the other countries of Africa that are richer than my country? This is to say that you need to travel to Africa before making certain comments.



I also believe in this

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Africa has thousands of people with internet access, the problem is that there are few people who talk about bitcoin, many Africans are not interested in making money online, so bitcoin is not very popular in Africa, but say about facebook, so you will see that many Africans use Facebook

As far as I know here in Nigeria bitcoin is getting recognition at least bitcoin transaction here on there even campaigns are made for it. The kind of purchase you meant here am not clear with it but yet you can see people doing transaction with bitcoin. But African countries are getting awareness about this

I saw how the internet came through a village in West Africa from 2010 to 2012. It was awesome. Started with nothing, then one crappy internet cafe, then these cool dongles came along, and then smart phones started showing up. It ended up being a much more mobile internet than what is found in other regions. I can't wait to see how crypto makes its way through!

The way I saw today, Africa will be the next continent to be conquered by bitcoin. The only reason it will be difficult though because of their infrastructure. They have to put a better internet connections because they can actually used bitcoin and crypto. But some of the countries like Nigeria have been adopting bitcoin fairly quick. I think they are leading of amongst the top bitcoin users/traders in their. Again, with the vast population of Africa, each one of the government should step up their infrastructure program so that bitcoin can fully grow in their. We all know how bitcoin help South East Asian 3rd world countries to earn and make a decent living out of bitcoin. That model could also be adopted in Africa. Maybe along the 5 year mark bitcoin will be recognize more in that continent.

The largest mobile digital payments transfer market in the world is based in East Africa (Mainly between Kenya, Tanzania and Uganda) with over 6 Billion Transactions per year. Suffice to say that the Fintech industry is booming in Africa.A good number of Bitcoin and Blockchain start ups hAside from speculation, the most valuable use case from cryptocurrencies is typically payments, especially cross-border payments.

With Bitcoin the people of Africa can become their own bank where they do not need to queue to withdraw their money. With Bitcoin Africans can make their purchase from anywhere in the world where Bitcoin is accepted. Also those in Africa who have families abroad can send them money within minutes. The transaction fee is very low compared to those incurred using traditional fiat currency.

I think this is the case with majority of the countries in the world as they have not given proper guidance or framed the laws regarding the bitcoin as such are they supporting it or banning it form their country. They are still under observation it seems due to which the taxation policy is also not being framed.

I think bitcoin in africa many people use for transactions. But as I know the government not legalized yet.
But most of people in africa will familiar use bitcoin for their transactions. So in the future, if their government legalized bitcoin it will easy for them to use bitcoin in their life for investment and transactions.

In Africa, the Internet infrastructure is not enough, only the mobile Internet is available in Africa. The use of the Internet may vary according to some regional conditions. But perfect internet connection is essential for Bitcoin use. Africa will be even better in the coming years.

I think in the near future but for now people on the africa still a tribal or not a modern country the internet through africa seems low and not fast though so definitely people on africa don't know what is bitcoin. And lack of knowledge I guess , but surely sooner or later all of us would be a bitcoin users.

Zimbabwe was user friendly :) The ''government'' use it, but there is a total chaos in that country.
Inflation and sanctions caused escape to crypto.

Yes, it could happen. But first people must learn how to use Crypto-Currency without wasting money with Ponzi HYIP investments. Also, Africa is a very poor continent, internet access there is limited for many people, what would affect a lot Bitcoin's adoption. The situation there is very complicated, too many conflicts in many countries, what makes the concrete development almost impossible to be achieved.

And in Africa it is already happening an interesting phenom. Bitcoin price there is much more expensive than at rest of the world. Seems the rich ones there are already ruling/controlling the market... Did Bitcoin experience in Africa fail?

Well I think in the near future sooner or later it would happen and it could positively happen though , because african country has a economy friendly which is there would be no problem on implementing bitcoin or legalizing the bitcoin.

As far as I know still bitcoin not implemented in africa well it's just my opinion though , but I think african countries seems fine they rich and has a good economy. I'm not aware on this but here's an article that i've read feel free to look at.

Link: https://cointelegraph.com/news/an-african-revolution-being-borne-of-the-back-of-bitcoin-and-blockchain

Stop displaying your ignorance. The richest black person in the world is not from America or UK but Africa. There are many Africans who have the capacity to invest in Bitcoin.

Wow, the richest black person is from Africa and not Europe.
I'm willing to bet that the richest white person is not from Africa but from the western World.
And that the richest Japanese guy is from Japan.

Let me tell you how ignorant you are:
Africa GDP:  $3.3 trillion  population 1.3 billion.
Eu GDP:  $17.1 trillion     population 500 millions
Us GDP:  18.57 trillion     population 325 millions

Bottom line is that the western world (without Canada)...omg Darkstar_ is going to kill me ......with 2/3 the population has more than 11 times money at their disposal.
That brings us to final ratio of 16:1.

Just because there is a millionaire in every god forsaken country it means nothing.

Don't run away from reality, unfortunately that's the truth, people in poor countries can't match what people in wealthy country have at their disposal. My country is 2 times as big as the Netherlands but when we come to what we can afford compared to them we're miles away, and this while still being part of the EU.

And what is worse, the difference is just going to get worse in terms of bitcoin adoption, poor people that don't have money to buy bitcoin now, they won't have money to buy after 5 years either.

Yeah, i know of supermarkets that accepts BTC as payment with one run by a woman in my country in Africa. The fact is, most of the indigenes are not well vexed into cryptocurrencies with about only 20% of the total population being aware of cryptocurrencies. There are still more rooms to operate. We need to create more awareness

Yes.. times have changed. There are a lot of billionaires and a huge number of UHNWs in the continent of Africa. For example, the richest African (Nigerian business magnate Aliko Dangote) is presently worth around $14 billion. Bitcoin is getting more and more popular in countries such as Nigeria, South Africa and Kenya.

Quite clear that in economies where there are no proper organization and economic stability, the people there are bound to start hustling and searching for means of survival (because the government can't organise herself) and if bitcoin is one source, then they would survive.

But, I don't believe that some one can survive on bitcoin by just hodling it in the wallet and expecting growth every moment. I mean, such person would have blisters in the eyes as a result of continuous check of the wallet.

I think you do not read the news about bitcoin development, or some recent articles that are about bitcoin, since 2014 in Africa have been in bitcoin development, if you ask any who have been using bitcoin In Africa, Kenya is one of four new countries after BitPesa became the first Bitcoin startup based in Africa to receive VC funds.

So far I have known in the country of Africa that allow bitcoin are in South Africa and East Africa, yes Africa have the biggest continent and I guess some country there are not stabilized will and some of them are not having an internet.
South Africa has a fairly advanced economy relative to most Sub Saharan countries. It came as no surprise, therefore, when PayFast, a South African payment processor, became the first to process bitcoin payments on the continent! An online retailer in South Africa followed the announcement with one of their own, they announce that now they accept Bitcoin as a payment method.

I have read a lot about this earlier as well. This was the article I am talking about. http://www.bbc.com/news/world-africa-42582343
This is an old article. but seeing the recent development of bitcoin in African countries surprise me. Like ithas become a tempting phenomenon for the African countries all around and it is good to see this happeing.

And this is what i have read more recently http://money.cnn.com/2018/02/14/technology/bitcoin-luno-billion-users/index.html

All this is pointing towards one thing that bitcoin's acceotance is soon going to become worldwide.

I don't think that any African country has officially come out to endorse bitcoin and crypto currencies. However, I would suspect that there unofficial trading exchanges that serve such countries. However, what I am certain about is that The government of Kenya is taking a great step towards understanding the Blockchain technology and looking for ways how to implement them into their systems.

Maybe I think in Africa is still less understanding about bitcoin, but I think Zimbabwe has already received and applied about cryptocurrency especially bitcoin.

Africa tries to regulate the presence of bitcoin in the country where it is not a fundamental question of whether bitcoin needs to be regulated or not, but rather to whom it will govern. the issue of decentralization is the most important thing in bitcoin ecosystems to maintain the stability of their economies.

I am not really sure on what countries in Africa are applicable in order to embrace bitcoin as an alternative currency, with respect to their economic status and land point. Considering that most countried in Africa are suffering and are categorized as an underdeveloped country, they cannot adapt a digitalized form of payment wherein most of their population does not have access to the internet.
If the government plans on embracing this system, they have to prioritize this over other practical means like infrastructures and technological advancement reforms. I highly doubt about it anytime soon

Not only that, blockchain on Cryptogene has the potential to transform Africa by allowing ever more open trade within the African continent to the rest of the world. By encouraging innovation and expanding access to the banking system for all countries and providing greater access to financial services in emerging markets.

With crypto the people in third world countries don't need to access financial services. Don't forget that these services tend to heavily discriminate the poor, which is exactly why crypto forms the perfect alternative. As soon as these financial services start to notice how people no longer need them, they will do everything to start pleasing even the poorest, but then it has no real use anymore. Give these people a mobile device with an internet connection and a lightning enabled wallet client, and that's all they need. Sending value from one entity to another will be the easiest and fastest practice in the world, and practically free. As much as how financial services ignored the poor, so will the poor ignore financial services in current times. In Bitcoin we trust.

Well, I do not have much information about what happened in Africa about Bitcoin transactions., but I see that in that continent, there is no greater knowledge in the field of cryptocurrencies and even their importance positively in this era, except Maroc and South Africa which are planning through future projects, to benefit from  Bitcoin and this is a good step for those two countries.

In addition to that, it is unfortunate that many countries (especially in Africa and Asia) do not know that Bitcoin have changed all financial transactions in a good way, and have become better than FIAT (Dollars, Euro.. ). but if bitcoin will become stronger and the governments cannot destroy it and cyrptocurrencies in general, than it certain that many countries will recognize it as a legal currency.

Stop thinking that the blockchain is the magical solution for everything in this world, it's just a database that is not going to cure cancer, save the polar snow cap or improve the economy of Africa in 2 steps.
You can't have a real working economy without infrastructure without an educated workforce and the blockchain will not construct 100 km of highway every block nor it is going to solve your math problems in school.
People waiting for a miracle will die waiting, the EU and Japan have raised from ashes without cryptos and the countrys in Africa should learn from that. Unfortunately there is nobody there willing to do that

I think there is some African countries that allow bitcoin transactions or maybe they haven't yet any rules about bitcoin and in general cryptocurrencies, Few of them are in the north of Africa. I heard that there is some countries in Africa that allow using bitcoin to buy some items, like electronics and paying bills, etc.

You can checked which countries allow bitcoin here : (https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Africa)

And you will be surprised that Google Searches about Bitcoin yielded Nigeria, South Africa and Ghana as the top 3 nations searching for the Keyword "Bitcoin". That's why I still believed that there's so much leg room for bitcoin in Africa. The only issues is infrastructure, but I guess everyone there has a cellphone so I'm thinking that there is a greater chance in the next couple of years, Africa will be the next continent that will adopt cryptocurrency.

All the African countries are quite aware of bitcoin and crypto currency although I can't actually tell which particular country of Africa accept bitcoin as a means of exchange for good and services. Bitcoin and crypto currency is wildly use here in Nigeria but you have to convert it to fait currency before you can purchase items or sevices.

African continent has not witness the high level of cryptocurrency adoption than the united state, Europe,and Asia have seen there are numerous start-up, initiatives, and individuals in Africa that are building an African bitcoin ecosystem by leveraging cryptocurrencies  and blockchain technology to deliver innovation services to Africa consumers and businesses. bitcoin in africa is growing and in this guide, you will receive insight into this blossoming frontier market

Was also curious about his. And the info you've written that really impresses. Thanks for sharing.

As far as I know, the main hubs for bitcoin are in Africa are Accra, Lagos, Nairobi, Cape Town.

Below are the countries that do use bitcoin however I'm not aware of actual trades taking place - ie; trading bitcoin (or any Alt coin) at a restuarant for a meal or trading bitcoin (or any Alt coin) for clothing items.-
- Nigeria
- South Africa
- Ghana
- Kenya
- Zimbabwe
- Botswana

Cryptocurrencies are gradually being discovered in Africa.

The popularity of bitcoin grows with every passing day. Bitcoin can serve not only as an excellent alternative to national currencies, but also simplify the life of the people of Africa, giving them a piece of high-grade life

I believe Arab countries in Africa does not have a law that concerns the use of bitcoin. That means, people are free to use it. Perhaps if they used it for illegal purposes, they might get arrested. Either way, I do not think people will try to corrupt it as long as they have the freedom to invest in it. Added to that, maybe a law will be put when bitcoin is recognized by many people who are starting to use it because it might be a threat to the economy system.

In Africa, the situation is very strange in my opinion. Because of small volumes, prices can differ at times. Most likely it is used there as a speculative asset.

This is a very useful question as Africa need to wake up to the reality of bitcoin and blockchain in general

Well, am yet to see any of the African country that use bitcoin as a mode of payment for goods and services but we all believe that with time bitcoin will be accepted world over and not only African countries.

The usability of Bitcoin in Africa is still not exploited as compared to the Western countries where most of the citizens are technology inclined. Anyway, I read an article in the news papers pointing out one town in Ghana where a woman accepts Bitcoin as a means of exchange in her super-market shop. With time, Africa will adopt the system of Bitcoin due to the benefits it comes with it especially in favour of the people and the economy in general.

It seems to me that in African countries no one can control your bitcoin transactions. They simply do not have the appropriate infrastructure.  And yet-bitcoin is better to use as an investment tool, and not as a means of payment.

In south africa btc transaction is allow i think.Because there are some big & huge popular exchange/brokers controlled from this countries.
I have no idea in africian shop center or other thing is accept btc or not.

Bitcoin transaction in Africa is understanding between traders and shops that are accepting Bitcoin in their shops, some people just started to grow with their knowledge on crypto so it is understandable that payment using Bitcoin is between Bitcoin enthusiast only, as for now.

bitcoin in Africa is growing rapidly one of them they make a program to pay for an education using bitcoin is not that a pretty good idea.

Many countries in Africa are cryotofriendly. I think South Africa is very friendly when it comes to crypto activities. And yes, you can purchase something with Bitcoins in Africa. There are malls that accept that.

Nigeria, South Africa, Kenya, Zimbabwe, Ghana

For Africa this will be a good stage of development, for them the legalization of the crypto currency will jump upwards.

A major super market chain in south Africa pick a pay has started a trail to accept Bitcoin payment in store at its head office location.

This is a good news as if some super market start accepting it then others will start following them and in turn the btc will more be used as a payment method This will also means that demand will rise and it will be known to more people.

Currently, there five African countries that allow transactions on Bitcoin and other cryptocurrencies, they are South Africa, Namibia, Zimbabwe, Nigeria, and Morocco.

South Africa. In December 2014 the Reserve Bank of South Africa (https://www.resbank.co.za/RegulationAndSupervision/NationalPaymentSystem(NPS)/Legal/Documents/Position%20Paper/Virtual%20Currencies%20Position%20Paper%20%20Final_02of2014.pdf) issued a position paper on virtual currencies whereby it declared that virtual currency had ‘no legal status or regulatory framework’. The South African Revenue Service (https://www.businessinsider.co.za/own-bitcoin-sars-is-coming-for-you-2018-4) classified bitcoin as an intangible asset.

Namibia. In September 2017 the Bank of Namibia (https://www.bon.com.na/CMSTemplates/Bon/Files/bon.com.na/c6/c6e59534-4bc8-4730-a091-eaffa172d2e9.pdf) issued a position paper on virtual currencies entitled wherein it declared cryptocurrency exchanges are not allowed and cryptocurrency cannot be accepted as payment for goods and services.

Zimbabwe. The Reserve Bank Of Zimbabwe is sceptical about bitcoin and has not officially permitted its use. On 5 April 2017 however, BitMari (https://drive.google.com/file/d/0B7wkQAn9uD1malYtMi0yRHRhYU0/view), a Pan-African Blockchain platform got licensed, through its banking partner, AgriBank, to operate in the country.

Nigeria. As of 17 January 2017, The Central Bank of Nigeria (CBN) has passed a circular to inform all Nigerian banks that bank transactions in bitcoin and other virtual currencies have been banned in Nigeria. However, during the year, the CBN (through its Deputy Director on Banking and Payments System, Musa Itopa-Jimoh) clarified the circular and its stance on bitcoin, citing that a lot of people misinterpret the central bank’s recent warning. It noted that "Central bank cannot control or regulate bitcoin. Central bank cannot control or regulate blockchain. Just the same way no one is going to control or regulate the Internet. We don’t own it". https://news.bitcoin.com/central-bank-of-nigeria-says-we-cant-stop-bitcoin/

Later on, a committee was set up by the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) to look into the possibility of the country adopting the technology driving bitcoin and other digital currencies – blockchain. The committee has submitted its report but "several sub-committees are still working on the issue" according to the Director, Banking & Payments System Department at CBN, Mr. ‘Dipo Fatokun. https://www.today.ng/technology/internet/2575/nigeria-adopted-bitcoin-technology-cbn

Morocco. On 19 December 2017, Abdellatif Jouahri, governor of Bank Al-Maghrib, said at a press conference held in Rabat during the last quarterly meeting of the Bank Al-Maghrib's Board of 2017 that bitcoin is not a currency but a "financial asset", He also warned of its dangers and called for a framework to be put in place for consumer protection. http://www.menara.ma/fr/actualit%C3%A9s/economie/2017/12/20/2333841-le-digital-champ-de-bataille-de-bank-al-maghrib-en-2018.html

Africa proves itself to be an active center for cryptocurrency trading, especially Bitcoin. seen from most of Asia who use crypto afrika arguably more active and more than Japan and China but the government there still regulate how the policy in spread crypto there...

there are no african countries,except Algeria that explicitly ban bitcoins
so,in theory,most of the African country allows bitcoin transactions,since whatever is not prohibited is allowed
there were many articles about Morocco thinking about banning bitcoins,but it seems that they reconsidered
countries like Zambia,Egypt and Saudi Arabia seem to have some restrictions in place,but they do not ban transactions or exchnage of coins

Officially i have not read or heard more about bitcoin transactions in Africa.Nonetheless, the people of countries like Nigeria, Ghana and Zimbabwe are getting to know bitcoin and understand its operations very well and that is good news.  Bitcoin transactions in African countries will take time.

I think just very few African countries are aware and transacting with bitcoin but I think I have not read about countries in Africa that are really talking cryptocurrency, this could be because African is a bit behind in technology.

It is difficult to imagine the development of bitcoin in Africa. The whole continent is in one big hole - wars, lack of necessary products for life, poorly developed Internet. The only developed country is South Africa where you can actively promote bitcoin

We are still waiting to see how early bitcoin makes its way through in African region.

África es, en gran medida, una infraestructura basada en efectivo con un modelo simplista, incluso la banca es todavía un concepto novedoso para una gran parte de la población.

Sin embargo, tampoco hay muchas alternativas, si la comprensión y la educación en las monedas digitales es baja, su adopción en la industria y el comercio minorista es aún menor.

Les comparto esta pagina muy buena, donde pueden encontrar artículos nuevos sobre las criptomonedas https://criptogaceta.com/

is this is really happened in afriaca?if happen then this country will be developed their financial growth very soon.i wish if this opportunity operate our country ,we are also part of growing financial growth.

In my opinion, all African countries allow operations in bitcoin, because their economy is rather weak!

That's some great development there. Thanks for the information.

Your comment is very misleading and non-factual. How many countries in Africa have you visited to arrive at the conclusion of the whole of Africa being at war? No one even says that for the Middle East so how could you say so for Africa? At least, each continent has an ongoing war or threat of wars. Read wide and stop displaying your ignorance on a big platform as this.

I cannot agree with you more. Blockchain technology is not so popular due to inadequate developers in the field. I hope African scientists direct their attention to blockchain soon push it to through the whole of the continent.

I'm from Ghana and I don't seem to know any outfit that exchanges bitcoin for fiat money. I wish the google stats could translate to a "physical" booming bitcoin in the country.

Great to hear from you! Are there Bitcoin ATMs in Nigeria where one could easily convert bitcoins to Naira and withdraw?

Hi Prince, this sounds very good to my ears. Am from Ghana too and would love to know more about this woman that accepts Bitcoins in her shop. I hope this translates to all of Ghana soon.

Kudos Solarex!, I think this project needs more exposure so many people on the continent and the world at large can benefit from it.

South Africa has been one of the countries that have opened it doors to crypto activities. I have read news and blogs where it was said that they were organizing meet ups as well. I hope other countries in Africa follow suit to propel crypto in the region

I think mrcash02 hit the nail on the right spot: the major challenge of bitcoin in Africa is internet. Fast and reliable internet comes at a more higher price in Africa as compared to Europe. Since the majority of bitcoin transactions take place on the internet, the average African is not able to take advantage of this booming industry sweeping across Europe, America, and Asia.

You have great insight stompix; Africa's major problem is poor leadership and innovation. These are two drivers that will propel Africa to a high height of prosperity should they get them right.

Where I have a problem with your statements are the seeming assumptions that only poor people are in Africa because of some stats acquired on the internet. Talking about the richest black man, I only aimed to point out that there are many making it on the continent(which of course does not receive media attention) and can spearhead a Bitcoin ecosystem o the continent. And oh, there are many black men as well as men of any race who have no relationship with Africa. They were born in America and europe(the best economies) but aren't as successful as others in Africa. That's all I meant to communicate so you don't push Africa out of the Bitcoin world.

This is actually not true! Many African countries besides SA, such as Nigeria, Morocco, and Egypt are also progressing with the adoption!
Cryptocurrency progression in South Africa, however, has never seen a brighter times. Many new ICOs and crypto assets are being deployed. Capetown, Johannesburg, and Durban are becoming blockchain hubs!

So, African market may not be as doomed as you envisioned it! We (Kryptoro (https://kryptoro.com/)), have contributed to the (r)evolution by offering ZAR, Dirham, Naira, and USD as initial fiat-based currencies to SA market. Our main virtues are:


- The ability to purchase cryptocurrencies using credit cards
- An instant and simple fiat gateway
- Multiple cryptocurrencies (5/6 on launch)
- Superior security infrastructure that takes the burden off the user
- Live trading analysis and trading tools to assist clients in making investment decisions
- Variable analytics generated by our AI trading software

Kryptoro is a subsidiary of Kagiso Interactive (https://www.kagisointeractive.com/), company well-renowned for collaborating with Marvel Comics, EA Games, Disney, MTN, and Mahindra Kotak Bank! Kagiso Interactive is also a South African software development firm that has regularly been voted as the Best Mobile Applications Development Company in Africa and the Middle East. The firm has also been recently touted as one of the leading companies globally to contribute in the space of AR and VR.

So, Kryptoro is currently midway through its crowdsale phase. Once the crowdsale is over, the exchange will operate with KTO (Kryptoro token) which will be used as a "gas" of the exchange. KTO will be a "native" currency of the exchange, serving for paying taxes and fees, and other services.

To conclude, if you really want SA crypto market to blossom then we all need to contribute to it!

Oh yeah i recently heard some news that there were malls in Africa (Ghana, and Accra mall to be specific) that transacted in Bitcoin. One setback is that the education level and digital knowledge is very low in Africa and so it shall take sometime before the adoption gets well seeded in Africa.

hyper inflation in zimbabwe makes its inhabitants look for alternative savings many of them run their money into bitcoin, nigeria and anggola are also not much different they put their money into crypto because it can be considered as a safe way of terrible inflation potential, so in the African continent, eyes Bitcoin money is nothing new because many countries have used it.. :)

bitcoin is already widely used in African countries because most of the reasons they use bitcoin are obviously because of fear of inflation which is always a real threat, real examples from zimbabwa, anggola and nigeria, because their original currency is almost worthless, so many start using crypto broken down into small parts, so basically bitcoin is known throughout the world, bitcoin is also an alternative choice besides they use the dollar which is a global paper currency.