Bitcoin Forum

I think Africans are embracing the crypto market really good because i see lots of push for the crypto market in the area
and people really using it to create more market opportunities for the region.

Do you think there is a reason why Africans really strong play for crypto market?

for the otc buy and sell for BTC ETH EOS USDT I use otc.hbg.com (http://otc.hbg.com) it has 0% commission on all trades on the platform.

tell me what you think

Bitcoin and others crypto is global market so anyone in the world have access to buy it,  although some country banned crypto  but there are alot of others country regulated crypto market. When people know price of Bitcoin  in 2010 and current price,  everyone will interesting to buy because promising high return.  I found there are alot of blockchain project from Africa , so that mean crypto market already booming in Africa. 

Like the other nations then probably Africa has already become fully literate on how crypto currency will work making many of them to become attracted to join the invesments resulting to significant increase of the crypto users in that area. Hopefully the other nations too so that the crpto market will become more stable in the future.

How did you find that? Or you just saying that because of trading platform?

Maybe there are crypto adoption but I don't think it causes the prices to increase.

I think it's a way to have more visits to that certain exchange/trading platform that the OP is including.

I hope the OP could provide a news source or something factual that could correlate to his conclusions. I'm just curious also to what extent is Africa capable of usage of crypto, I think with the majority of 35% of internet users, I think they could really apply cryptocurrency as a form of payment. The real application begins.

https://www.internetworldstats.com/stats1.htm

It is not just about Africa. Now, globalization is spread all over, and if you have the Internet, this is enough for everything. The thing I know about Africa is golix exchange and there is no volume, and also digital moneys regarding gold.  :D

Maybe to encourage improvements in the financial system. With several entities that have the power to control money supply, this system tends to benefit the elite. And while the benefits of crypto will affect everyone, there is a much greater need for a revolution in africa.
Financial inclusion lacked on african continent makes it difficult to access financial services, some basic functions such as fund transfers are quite expensive. In fact, remittances to africa are the most expensive in the world according to world bank, almost two times more expensive than asia which is ranked second.

Just like any other struggling nations that chooses to accept crypto, the whole of Africa looks at crypto as a means to help them alleviate their life because we all know there the continent has a lot of problems.

For those who are interested to see their localbitcoins activity:

https://coin.dance/volume/localbitcoins/ZAR/BTC

And they are very consistent since the December peaked, good indication that they are really into bitcoin as of the latest (even if we're into the longest bearish trend).

Relying on the daily volume on the platforms does not give us accurate figures on the use of cryptos in African countries.
The real measure is the number of crypto-related activities in those countries. The figure appears to be increasing, which is a sign of the growth of the cryptocurrency sector in African countries.

Yes, cheap resources that require more investment to blow them up.

You can get more information using this map ----> https://coinatmradar.com/
also, Bitcoin ATMs in some African countries ----> https://coinatmradar.com/charts/geo-distribution/

I love these "subtle advertisement" topics, look at the discussion, it is a proper one and really shows that people actually respond to it, and than look at the advertisement beneath that, looks so cheap, like African crypto is actually a good discussion one that needs to be talked about but the whole reason why it was started was to show off a new website that is it. It disgusts me.

Africans are not living in some uneducated undeveloped place, I don't know what people think of Africa and tribes comes to their mind, if that was the case there are still a lot of homeless tribal people in Latin america as well and even in many Asian places like India and china, but those countries have developed cities with people who wear suits and go to work with their laptops and iphones and what not and so does Africa. Crypto is not something different in Africa than it is in Asia or Europe or wherever.

Africa aren't doing things differently on the cryptocurrency market,crypto is being embraced all over and not just in Africa,probably you could have backed up your say with facts.
Though the rate of poverty is high in Africa than probably in Europe or in the Middle East,the use for cryptocurrency hence could be different in the both areas,in Africa cryptocurrency could be regarded as solely a way out of poverty and a get rich quick scheme.etc
But the culmination of the whole matter remains that there is no special feature about crypto in Africa than it is in other parts of the world

The website you even just shared supports only 2 African currencies for OTC buy and Sell. That's the Nigerian Naira and South African Rand. How ironical.
To you does this really look good for Africa? A continent with 50+ countries?

Sure it is not a very good one but considering the level of inefficient internet connectivity, I think the continent is growing in the awareness. Soon more countries could join.

Africa is welcome for crypto so that why Binance launched Binance Uganda exchange that offer trading pair crypto with fiat. I think later more country in Africa become more friendly with crypto and blockchain technology because they get benefits from it. Not only in Africa crypto market will keep bigger in others country like in Asia, Europe, Australia, America. So crypto is global market and very possible to be multi trilliun dolar market.

Yes, In addition. Africans worked really hard for them to take advantage of cryptocurrencies. Since Bitcoin is a global coin and used by the people around the world, Africans had chances to take advantage of it and do their best for the bitcoin/cryptocurrencies to give them alternatives to be successful.  Africans began to join bitcoin because they saw a lot of potential and their country is still growing and really open for development.

Africans were much aware of cryptocurrencies, out of the same they use it much on trading and marketplace needs. Recently cryptocurrency have increased marking a change on the global crypto market. Even for small business needs Africans used bitcoin because to avoid carrying big volume of currencies that were under inflation.

definitely it will be filled up with all over the world company also used by the people but who are using in any situation and any place there's no need of anything without investment and effort if you have that you will be success in all kind of places also.

Given that they do have access to an asset like BTC, they certainly will be buying. Countries in Asia and some other 3rd world users are buying so there is no one is prohibiting Africans from investing in crypto.


There must be a market there as there is in any country which I guess cryptocurrencies like BTC is popular enough.

cryptocurrency are using globally by all the people so it can be definitely used in all over the world so the people in Africa are also using it but it will be a guest for me but not 100% sure people will using it in Africa.

Africa are really using cryptocurrencies and by visiting remitano you will find many transactions that are going on daily.  Africa is going to be the hub of cryptocurrencies market in the future as many countries has fully embrace it and some have adopted it into some business cycles.

Bircoin is penetrating into African market gradually there are lot of Africans that trade bitcoin using localbitcoin although awareness about bitcoin has been at the lowest ebb due to lack of basic infrastructure  especially electricity meanwhile most African leaders had kicked against crytos by making announcement through their respective central bank official nevertheless bitcoin has come to stay and more Africans will adopt it for daily needs.

Cryptocurrency is something many countries are taking part in today, I could remember when some countries was against it, now Africa is definitely don't want to slide behind the trend because Cryptocurrency is really making its way in the community.

In Africa,in many countries,as well as in Asia, there is a very high level of inflation and low confidence in national currencies. It is not surprising that people are trying to go into cryptocurrency.

I remembered China also have a numerous trader and investors, not only in Africa. Though, we can noy deny tbe fact that they have also a contribution when buying and selling bitcoin and other crypto coins, but the effect of price may increase or decrease because of the whales that arr residing not only in Africa but in some other countries.

The fact is that over the past year I have several times observed quite good projects that were originally from Africa and identified in Eastern states. Thus, I believe that the influence of cryptocurrency applies to all categories of countries. Well, including any wealth. But I want to say that in the fraud and in the bad development of the project, these strange have not yet been noticed.

The focus shouldn't be only on Africa.
How about South America? In Countries like Cambodia, Panama? I think we need all of them to get aboard
We have lots of countries in Asia and even some parts of Europe where using crypto is still a dream to come true.

Yes, a lot of countries adopting crypto and used blockchain technology and knowing Africa's financial capabilities of their people it may a hindrance to adopt the system. In some cases that their people won't be able to take part of this cause they'll be not their priority. Though they'll have desired to invest in crypto but they have that lack of financial support and also lack of knowledge.

One does not need financial support to join the crypto movement. All one has to do is start using cryptocurrencies for services and stop over relaying on fiat.
For example one can open a restaurant to accepts cryptocurrencies as payment too. When customers come, they pay you in cryptos too.

But the major challenge is sensitizing people in remote areas about how the blockchain and cryptocurrencies work. I still feel the whole idea is very technical for a layman to understand and use.

That can be a good reason to buy aside from the profit that we can get. We know African is not good in terms of financially so people there are trying to be more resourceful, and cryptocurrency is one of their choice. For sure they are investing since its not illegal to own great coins, that’s the best decision for them.

Lets speak honestly. Africa has never been a place of innovations (at least last thousand of years). And at the age of globalization it finally gets the same possibility to make some innovations as western countries have.
So it'd better not to miss this chance.

I agree on this one even on their cities we can’t see any new technologies aside from the big businesses their, so its really good for their people to fully adopt cryptocurrency and accept the change this is the only way for them to be better. If they will not adopt right now, there might be no other way for them to grow.

At remitano were I trade I do see alot of daily increases in cryptocurrencies activities from Africa. I think many people from Africa are becoming aware of bitcoin and blockchain technology and there are really investing in it.

Africans are really adopting cryptocurrency and using it a lot, most of the I.T guys in these countries are all aware of it and already broadcasting it to one or two people too. I have lots of friends in Nigeria, Ghana and Benin republic and virtually all of them have either invested in bitcoin or trading with it.

I learnt their bankers too are making lots of investment in cryptocurrency, though majority of their government and central bank are still strongly against the use of cryptocurrency believing it is a scam like one money doubling ponzi investment that really dealt with them, I think they called it MMM.

Same reason as what people usually do in the crypto maket, they are here because they also want to make money just like what Koreams and Japanese people are doing they see that the risk to reward ratio is good and unlike other markets the assets in the crypto market are more affordable. Its really not about a matter of race as one way or another all countries will discover the crypto market.

I believe so that more people are becoming more cryptocurrency literate nowadays and we're adding in numbers. The population of us cryptocurrency users are increasing everyday.

I think the whole world is playing its part for the stronger crypto market for the future.

How can the platform gets commission if they are not pricing the trades?

One thing I know so well about Africans is that the people are so fast to embrace new technologies even if the government of their countries are not in support of it, this is why I won't be surprised if we have a lot of Africans involved in crypto trading.
I have heard a lot of information about a country called Nigeria in Africa as the 3rd largest crypto traders in the world, though I don't know if this news is true because I am not from that part of the world but am just trying to make a point.

Bitcoin in embraced my almost everyone and currently there are many places in Africa where payment are recieved in Crypto that me be one of the reason why more africans are getting into crypto.


There are many more exchanges where you can trade 450+ altcoins. Few are Changelly, CoinSwitch (https://coinswitch.co/), Shapeshift etc., 

The OP isn't just bush-talking, it's a fact that the demand and use of cryptocurrency is on the rise in Africa. I belong to several cryptocurrency groups populated by Africans and I know how daily increase we have in members flooding these groups. Although that number dropped middle of 2018, it has picked up again now. And of course, demand sets the pace for price determination and increase. The more people use cryptocurrency, the higher price goes. That was what happened in 2017 where almost all the cryptos recorded ATH.

In the African region, there are more people who simply invest in Bitcoin and Ethereum, after which they keep their coins. Trading is not very developed, more investment, because in order to trade you need to have knowledge and experience, which is not enough for people there.

I hope so. I think that it could really help the people in Africa and having internet connection towards the whole country would be beneficial for them. I don't know if they already have but with the things I have seen, the eyes are opening by the people. They are going to be part of something great if they continue to use crypto.

Don’t pay attention to him, he just needs to do his research well to really know the ration of African’s involvement in crypto, look at this project, Africunia Cash, is it not an African project based in United Kingdom.

Take Nigeria for example too, I learnt that they rate at which they adopted cryptocurrency in 2017/2018 was so high that their Central Bank started campaigning against it before they get out of hand and when it comes to investment, they also have a large part too though can never be compared to the one from America and Europe. So, he should better do his research right before querying the op and also learn from your write-up.

I don't know about that but if Africa also been a huge part of investment it will be a huge support for the Crypto to develop much more than we expected because if Africa countries included into the system of combining cryptocurrencies will be more probably a good idea.

That is right. However, I have read so many articles about African countries being really aggressive in transacting and doing business using cryptocurrencies. I think, that is the case because with the aid of little or minimal technology, one can really learn and delve into the cryptocurrency market and, ultimately, to earn money. I have seen many people from such area of the world as well being very participative of different means online to earn. Therefore, if we are to see an increase, it will not be a surprise because people there are clawing their way to be in the market, and that is a good thing because the market would prosper.

And it turns out that Africa is already above to be more serious in developing cryptocurrency or using it, I think that is something very good for the future, don't be too afraid of restrictions for other countries because crypto still stands strong and maybe over time we can see some other countries and in crypto success.

I think most people think that Africa is not that well-develop country, oh come on it's 2019 already. How could a country remain so undeveloped if they don't have a great leader? Africa is a slowly developing country and cryptocurrency might be the key to the most unemployed people in their country.

A big help for those Africans who wants to have other source of income. We know that Africa is not that fast in terms of adaptation with the new technologies but now they are doing good and trying their best to lift up their country. This is a golden opportunity for them, its the best time for them to try new technologies. There are still some places who don’t have decent internet connection, i hope it will be improve along the road.

At the very early stage of bitcoin, I already saw a lot of videos that crypto is helpful for Africa since they don't have a lot of banks and the remittance
fee is very high in their country. Crypto will definitely help them as they can transfer money faster and cheaper, they can contribute to the adoption and though not to big but being part of the pie, will make this space stronger.

i dont think that the fees of thier country is high but i agree that crypto help them alot because crypto can provide extra income with or without capital included  .


africa is a also a big country so the are contributing a large part  which is good for the crypto community  .


yes they are , as we talked about earlier . africans is a healthy country when it comes to crypto adoption and its normal for them to see buying and selling a crypto even at highs  .

Its been a long time that Africa started to adopt crypto, in fact their government is supporting this one. But knowing the capabilities of that country may we couldn't expect many people will adopt and used crypto same thing they do with fiat. For some reasons that they'll thinking, gadgets, knowledge and financial stability of individuals seems to be hard for them. But I believe crypto market in Africa will be growing as some of their people still in engaging into this.

Internet connectivity is still an issue here, especially in the rural areas. The cities aren't any better though.

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I think the OP's research is in order.

Yes, the CB of Nigeria did send out a warning. But that was just once. It was actually a memo and that was in late 2016 when the MMM (Ponzi scheme) crave was in vogue. A lot of us Nigerians who came into cryptocurrency did that out of the curiosity that MMM generated as it were. Now, the Nigerian government is no longer bothered about cryptocurrency after the collapse of MMM in 2017. It's a free zone for us.

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What lack of adaptation are you talking about? I guess you don't know that the Bitcoin app, Luno, is owned by a South African.

In addition to the site that op provided in his submission, you can equally found out that there are huge crypto currency transaction going on via remitano.com  which you can confirm that yourself. And I believe it is a good sign that crypto currency has gone viral world over although, internet connectivity particularly in some rural community is one the challenge.

If Wakanda is true, I think they would be the most advanced here in the world but it just exists in the Marvel Univers. Lol.

Kidding aside, knowing that it could probably change the world, I have seen a great article towards that. A lot of startups are growing there and there are a lot of people who want to improve it. The article is a good read.

https://www.nationalgeographic.com/magazine/2017/12/africa-technology-revolution/

It is not unusual thing possible to happen in Africa since crypto adoption were keep growing. That numbers of transactions signifies that their people were started to used cryptos and putting some money for investment. If this will continue to grow, it really give some impact to the market. It gonna be right that their leaders never think of banning crypto and choose to open this into their people.

Buy and sell of cryto is on the increase in general, not just in africa. I think among countries, africa would be one of the least crypto users compared to other technologically advanced nations, but there is an increase  in transactions nonetheless. Crypto transactions will continue to grow all over the world, africa included, that's for sure

Now it is famous all over the world as currency and there are so many countries including mine who are using bitcoin as online payment resources, we are welcome at many stores who are accept bitcoin as payment, but after the good step of Africa we will see good price development in market, so it shows future of crypto currency is really bright.

I think that Africa is indeed very suitable for crypto trading, because crypto in Africa has the potential for long-term investment, and is very useful to avoid inflation in that country.

What makes you think wakanda is not true LOL. Africa is really improving too in their technology and their internet usage over there too is quite high, provided these two things are in place, cryptocurrency might even be more adopted than other parts of the world.

The next generations being born in Africa now are already moving away from the old ways of living into  the world of technology, I have met quite number of people from there with families, what their little ones do with technology is quite amazing and also for the fact that they are always willing to learn new things.

You're right with what you said in terms of Africa be to the suitable for crypto trading due to the concept and the potential of crypto in making ones a millionaire over. Besides, there's something huge about Africa in terms of crypto currency and I said because Binance made a statement about Africa to be the future blockchain.

Now there are a lot of projects all over Africa, I started to notice recently, I think the region has a lot of potential, in the long-term perspective, time will tell, but I think we should take part in one of them.

Yes you are right. Africa and Philippines are the only countries that accept changes, be it in financial markets or in governance. This trend of cryptocurrency induction was getting bigger and bigger in Africa and it is happening eventually. In addition, if you look at the recent news that some universities in Manila started teaching about Blockchain to the students, you would realize how enthusiastic these people are about the use of the technology.

Africa has already shows us some growth in terms of cryptocurrency enrollment and so can be predicted ahead that Africa would be amongst leading country trading with cryptos.

If a particular country focuses onto the development of cryptocurrencies that that specific country could really increase its economy and the financial problems would be solved much easily as cryptos themselves offers a lot of opportunities to earn and make a financially stable life. Also, I am sure that most of the peoples might be using cryptocurrencies to make better opportunities for themselves as well as the surrounding.

yes it may be possible because you can buy and sell your Bitcoin investment in any place in this world so if it was in Africa there is no Surprise in that it will also been happen in sometime to make a contribution about the development of cryptocurrency

Africa has a high level of illiterates but some places with internet are growing and where internet is cryptocurrency is liable to thrive.frica seems to need blockchain more according to experts review. Southafrica had produced few ICO but not thriving as expected, this country also provide more seminars, conferences and training than any other country. One can be surprised how much bitcoin is held among Africa.

Cryptocurrencies are really spreading more widely and also we can see that there now are a lot of similar sites to remitando which offer cryptocurrency exchanges and wallets where more and more peoples are joining into now. I think, the peoples with lower economy counties should really join the crypto world because the profits for them would really be vast as their local fiat currency can have lower value as compared to dollar.

The crypto markets are in the ascending manner so each coin we invest into can be expected to have a pump ahead in the upcoming markets as there would surely be a lot price hike ahead.

The growth in crypto-currencies adoption is not limited to any geographical boundaries. Any region with access to the internet is surely growing in crypto use. There are a few projects taking roots in Africa and is certainly a place of interest to many renown exchanges.