Bitcoin Forum

Does anyone know how big Bitcoin is in Africa? Bitcoin and blockchain tech in general seems to be something that can help under developed countries

Many third world countries in that continent. Once some one from the African region asked on this forum says He have doubt on exchanging Bitcoin with his country and city location.
As I know we need to make them learn the scopes available in Bitcoin earning.
We need to educate and equally treated means btc is the best way to everyone.

it is really hard to tell. these things usually go unnoticed specially in third world countries. it is not like people are going to announce to the world they are adopting bitcoin for instance. you can see an increase in trading volume coming from these countries like checking the Localbitcoins.com stats for Africa on a website like this: https://coin.dance/volume (this site has a lot of other stats too)
or you can check out google trends to see how much they are searching certain keywords like bitcoin, blockchain, etc.
in the end it will be an estimation of the reality.
based on what I said looks like bitcoin is growing everywhere, including Africa.

I know that there are a lot of bitcoin investors in nigeria especially.. and Kenya government very concerned with the blockchain in, I heard it.  africa may be more interested in bitcoin than other countries:

I know there were kot of cryoto traders from african continent because those governments are not good in making the employment opportunities so the people itself made crypto trading as their main job.But I don't know the status about that government yet so still it is neutral so people are free to use it there.

It was big in Nigeria and South Africa for a while, but sadly I think that was largely down to the MMM Ponzi scheme.

Localbitcoins is about as close as you can get for a one stop shop for demand - https://coin.dance/volume/localbitcoins

I am from africa, so I can tell you that africa has very little demand for bitcoin in relation to the other continents, for example, of the few African countries that use bitcoin, the people of these very few African countries that use bitcoin are few, so You may already have an idea.


Yes can help and that's the problem, why is it a problem? because in Africa the power is extremely centralized, in Africa the wealth and extremely centralized in the political elite

in algeria its banned  but we trade it normaly but if the gov know that you have bitcoin you might go to jail and pay a big fine

A month or so ago data showed Africa was the 4th biggest bitcoin holder guys

I believe Bitcoin is gaining momentum in Africa and theirs much more going on that meets the eye..

Bitpesa is a broker in East Africa. However minimum purchase amount is $25000, speaks volumes..

Local bitcoins is used by many in Africa from research.

Same time lets consider a simple fact, governments, corporations etc have to consider protecting their current investments first as well. So allot to consider here right.. We have invested pennies into bitcoin compared to the investments of the ones governing and so only fair to have some empathy here

So further to your statement, Believe block chain will be widely adopted in developing countries eventually, for the reason you mentioned. However we have to bear in mind that for any thing to be implemented certain infrastructure must be in place first, each service with it's own unique requirements if that makes sense. without going into detail, it will take time right.. Allot will change as a result of block chain which is clearly obvious so allot to consider for governing bodies right and has to be approached carefully otherwise might do more harm then good, it must be overwhelming for them

Bitcoin is growing strongly in South Africa and we got many stores where you can buy online and pay with Bitcoin. Currently South Africans is getting the most out of Bitcoin as the ZAR is weak and Bitcoin price is strong for us.

As far as I know in Africa, power and wealth are mostly concentrated in the political elite, people do not have access to bitcoin because there is no such thing as information, the internet, according to statistics. The bitcoin trade is pretty much the same, but I think the only focus is on the political elite

It's really hard to tell if there are tons of bitcoin holders in africa because of bitcoin anonymity. Mostly you'll learn if the population of a country is into bitcoin when you join bitcoin groups in facebook. And most third worlds lacks internet of things because of it's corrupt government that's why it's hard to figure if BTC is hype in country like africa.

Thank you for sharing this information it is very insightful!

Hey, I'm also from South Africa. Which stores are accepting Bitcoin as payment? I did see in the news yesterday that we will be getting a Bitcoin ATM soon, somewhere in Johannesburg. I know there were one a few years go in Johannesburg or Pretoria but it's not in use anymore. 

I have seen in Google Trends that african countries have a big volume of cryptocurrency searchs

There are so many factors militating against the growth and adoption of bitcoin in some African countries examples are poor infrastructural facilities like epileptic electricity supply, literacy level is very low, inaccessible and slow internet facilities and some schools of thought believed that bitcoin is a ponzi scheme thus sending fears to potential investors.

I have a couple of friends in South Africa and they say it is growing fast. They have a good local exchange that are linked to a popular payment processor and this opens up a wide network of users that accepts Bitcoin, indirectly. They do not have a lot of Bitcoin ATMs, so this is definitely a untapped market.

In the rest of Africa, M-Pesa is very popular in some countries, so Bitcoin has some competition from some other centralized payment technologies.  ::)

Africa is still lagging behind in terms of bitcoin. The rate os exchanging fiat to btc is especially high which discourgaes the locals from using bitcoin. I belive with a good bitcoin exchange, africa will come up to par with other continents.

Have you ever looked at the growth of mobile telephony in Africa? It's very widespread and often they have better signal in the back of beyond than you might get in a city.

They've bypassed the old school clunkiness of installing physical phone lines and gone straight to the most modern method. The same might apply for crypto. Since many have never had access to normal banking it's likely they'll migrate straight to crypto when it becomes fully viable. There's no real alternative for them anyway.

Good question. I often ask myself the same thing. Maybe bitcoin atms of the Serengeti?

When talking about topics like these you ought to have your facts down pat.
Go do you research, you will find that Nigerians are one of the highest traders of cryptocurrencies
I am a Nigerian for the record,s and a good number of us know quite a lot about the blockchain and all of its possible use cases.
Africa isn't a third world slum where nothing good goes like some of you think.
Gather your facts before ranting about a place you haven't been to all you life.  That is the meaning of talking intelligently.

Bitcoin is gaining popularity around the globe and Africa is no more an exception. In recent days lot of scams got promoted with the name of bitcoin, because people have understanding that bitcoin will give money. Even after government giving warning about scam schemes in the name of bitcoin people continued to invest. Africa will progress in bitcoin usage over the falling years, as more people has begun now itself.

Africa for sure knows that bitcoin exist but indont think its not that popular unlike any other third world countries. I think they are more focused on another issue rather on taking profit from cryptos. Their resources are also limitted and it cannot support any bitcoin mining, bitcoin withrawal or maybe internet that is the major things need to start using bitcoin.