Bitcoins in Africa?

[Kamaumburu]

Going by the kind of discussions around social medial platforms on bitcoins/cryptocurrencies, the East African market is warming up to a future with bitcoins/altcoins. But given the potential, is the speed and frequency hopeful for digital currencies, comparatively speaking? Could someone consider ICOs with an African perception?

[Scorpion]

Huge huge potential in Africa. There's some of it already there but once the majority of Africa comes into the technological fold of the internet and crypto world it's simply going to be a game changer.

[CjMapope]

A few people have come wondering about Bitcoin in Africa and i thought too as well until i was informed that they are quite comfortable in their "Mpesa" system, that really does ALOT for them, all through their phones. It's a shame as its a prime example of use case for crypto, but a corporation did it instead
https://en.wikipedia.org/wiki/M-Pesa

[btc_angela]

Only thing I see with Africa is that the infrastructure. I don't know if African country has the setup like Internet that will really help bitcoin their exposure to a large public. How can they take advantage of bitcoin if proper infrastructure like internet is not set-up? So for me, establishing facilities (buildings, power and internet) should be the priority.

[Sithara007]

There is a lot of promise for Bitcoin in Africa, especially in two sectors: tourism and remittance. For international tourists, currency exchange can be sometimes a nagging and frustrating experience in Africa. The usage of Bitcoins can solve this issue. Also, companies such as Western Union and Moneygram are charging atrocious amounts for sending remittance to Africa. In this area also, Bitcoins can prove their worth.

[haroldtee]

A few people have come wondering about Bitcoin in Africa and i thought too as well until i was informed that they are quite comfortable in their "Mpesa" system, that really does ALOT for them, all through their phones. It's a shame as its a prime example of use case for crypto, but a corporation did it instead
https://en.wikipedia.org/wiki/M-Pesa

You are generalising your thoughts based on just two parts of Africa (Kenya & Tanzania) where M-Pesa is basically used. Have you heard news about other parts of Africa like Nigeria? Bitcoin is already storming most parts of Africa with great potentials. There are already Bitcoin exchange platforms for example in Nigeria to the Fiat currency (remitano, Luno etc) and I know few people who even trade with bitcoin. There is a very huge potential and great promise for Bitcoin.

Only thing I see with Africa is that the infrastructure. I don't know if African country has the setup like Internet that will really help bitcoin their exposure to a large public. How can they take advantage of bitcoin if proper infrastructure like internet is not set-up? So for me, establishing facilities (buildings, power and internet) should be the priority.

You are right in a way regarding infrastructure in most parts of Africa when compared to developed countries but it is not as bad as the outside world portrays it. I am an African, a Nigerian precisely, I use Bitcoin and I have Internet 247 every month on my mobile. So as majority of other part of the country. Like I said, we might not be where we want but it is not as bad as portrayed or assumed by people outside Africa. You don't have a clue how Bitcoin has helped me personally in international exchange compared to when using western union, foreign transaction limits via banks, paypal and the rest.

[Kakmakr]

South Sudan, Mozambique, Madagascar, Eritrea, Zimbabwe, Zambia, Djibouti, Mauritius, Malawi are some of the countries in East Africa. We all know that Zimbabwe is the rotten apple and should be avoided as a holiday destination. < The local currency has collapsed, so the citizens might benefit from using Bitcoin to protect their wealth >

Mauritius might have some tourist potential, but ISIS is operating in and around these areas, so there might be some risk factors to keep in mind. The poorer countries can benefit from Bitcoin, once scaling has been implemented and the fees come down for micro transactions. ^hmmmmm^

[Renji Abarai]

South Sudan, Mozambique, Madagascar, Eritrea, Zimbabwe, Zambia, Djibouti, Mauritius, Malawi are some of the countries in East Africa. We all know that Zimbabwe is the rotten apple and should be avoided as a holiday destination. < The local currency has collapsed, so the citizens might benefit from using Bitcoin to protect their wealth >

Mauritius might have some tourist potential, but ISIS is operating in and around these areas, so there might be some risk factors to keep in mind. The poorer countries can benefit from Bitcoin, once scaling has been implemented and the fees come down for micro transactions. ^hmmmmm^

I agree with you that poorer countries can benefit from bitcoin and actually its happening now. Even altcoins like Ethereum  has great follower in Asia. Bitcoin really give equal opportunities in industrializing countries especially in Africa.

[NorrisK]

A few people have come wondering about Bitcoin in Africa and i thought too as well until i was informed that they are quite comfortable in their "Mpesa" system, that really does ALOT for them, all through their phones. It's a shame as its a prime example of use case for crypto, but a corporation did it instead
https://en.wikipedia.org/wiki/M-Pesa

You are generalising your thoughts based on just two parts of Africa (Kenya & Tanzania) where M-Pesa is basically used. Have you heard news about other parts of Africa like Nigeria? Bitcoin is already storming most parts of Africa with great potentials. There are already Bitcoin exchange platforms for example in Nigeria to the Fiat currency (remitano, Luno etc) and I know few people who even trade with bitcoin. There is a very huge potential and great promise for Bitcoin.

Only thing I see with Africa is that the infrastructure. I don't know if African country has the setup like Internet that will really help bitcoin their exposure to a large public. How can they take advantage of bitcoin if proper infrastructure like internet is not set-up? So for me, establishing facilities (buildings, power and internet) should be the priority.

You are right in a way regarding infrastructure in most parts of Africa when compared to developed countries but it is not as bad as the outside world portrays it. I am an African, a Nigerian precisely, I use Bitcoin and I have Internet 247 every month on my mobile. So as majority of other part of the country. Like I said, we might not be where we want but it is not as bad as portrayed or assumed by people outside Africa. You don't have a clue how Bitcoin has helped me personally in international exchange compared to when using western union, foreign transaction limits via banks, paypal and the rest.

It's nice to read that especially in African countries there are REAL use cases.

In western countries most people are simply hoarding bitcoin as a store of wealth, but as you say in Africa its already making life easier. That's the thing that brings value to bitcoin.

[Reid]

South Sudan, Mozambique, Madagascar, Eritrea, Zimbabwe, Zambia, Djibouti, Mauritius, Malawi are some of the countries in East Africa. We all know that Zimbabwe is the rotten apple and should be avoided as a holiday destination. < The local currency has collapsed, so the citizens might benefit from using Bitcoin to protect their wealth >

Mauritius might have some tourist potential, but ISIS is operating in and around these areas, so there might be some risk factors to keep in mind. The poorer countries can benefit from Bitcoin, once scaling has been implemented and the fees come down for micro transactions. ^hmmmmm^

I agree with you that poorer countries can benefit from bitcoin and actually its happening now. Even altcoins like Ethereum  has great follower in Asia. Bitcoin really give equal opportunities in industrializing countries especially in Africa.

This are facts that might help to those who are considering to make a tour with bitcoin in their wallets.
This places with currencies that have not much of a value will really bloom when a change happens.
Bitcoin might be the answer. But what about technology? How can they afford to make technologies that will heighten the use of bitcoin if there will be no capital?
Investors will be needed here to start a new currency that might make a wealthy country.

[dillpicklechips]

South Sudan, Mozambique, Madagascar, Eritrea, Zimbabwe, Zambia, Djibouti, Mauritius, Malawi are some of the countries in East Africa. We all know that Zimbabwe is the rotten apple and should be avoided as a holiday destination. < The local currency has collapsed, so the citizens might benefit from using Bitcoin to protect their wealth >

Mauritius might have some tourist potential, but ISIS is operating in and around these areas, so there might be some risk factors to keep in mind. The poorer countries can benefit from Bitcoin, once scaling has been implemented and the fees come down for micro transactions. ^hmmmmm^

I agree that the greatest challenge generally for the poor people especially those people who just entered Bitcoin and earn not that much is the expensive fee that we have now that will surely eat up their income. Let's see after the scaling regarding the change in transaction fee. Wish that the it would be much friendlier to microtransactions.

[dothebeats]

Only thing I see with Africa is that the infrastructure. I don't know if African country has the setup like Internet that will really help bitcoin their exposure to a large public. How can they take advantage of bitcoin if proper infrastructure like internet is not set-up? So for me, establishing facilities (buildings, power and internet) should be the priority.

They have, though I doubt that it's of somewhat grand compared to what we have even in 3rd world countries. That's my initial sentiment in bringing bitcoins to Africa: how can people use it if even cellular internet is too expensive to even use and to implement? Only the rich, I think, would be able to fully utilize bitcoin since internet connectivity and hardware would be the main issue in this one.

[irukandji]

Going by the kind of discussions around social medial platforms on bitcoins/cryptocurrencies, the East African market is warming up to a future with bitcoins/altcoins. But given the potential, is the speed and frequency hopeful for digital currencies, comparatively speaking? Could someone consider ICOs with an African perception?

Kobocoin focused on Africa and Humaniq did an ICO

[asyakashi]

Only thing I see with Africa is that the infrastructure. I don't know if African country has the setup like Internet that will really help bitcoin their exposure to a large public. How can they take advantage of bitcoin if proper infrastructure like internet is not set-up? So for me, establishing facilities (buildings, power and internet) should be the priority.

Some African countries already have good infrastructure like south africa, but some countries in Africa still have limitations to access the internet. How to solve this and this is a big problem
I agree the government should start building a good infrastructure.

[michietn94]

It's great oppurtunity for African people for helping their economy by holding Bitcoin. I'm sure , bitcoin enthusiast will be huge as there are many demand to invest bitcoin. When bitcoin keep growing , it also help people and improved their life like never before. We should proud for able to hold bitcoin at the moment

[olubams]

Going by the kind of discussions around social medial platforms on bitcoins/cryptocurrencies, the East African market is warming up to a future with bitcoins/altcoins. But given the potential, is the speed and frequency hopeful for digital currencies, comparatively speaking? Could someone consider ICOs with an African perception?

Its easy to project using the current trends to positively position Africa in the scheme of things but we forgot the environment of doing business considering the difficulty of getting approvals for project as well as the exposure of law  enforcement agencies in case there is need to have a discussion with them about the legality of issues relating to bitcoin. This and many more will pose unnecessary threat to the development of bitcoin business and that is why most of the facilities used are hosted else where other than Africa.

[qiwoman2]

I see Bitcoin and Altcoins becoming Huge in Africa, because Africans are getting very mobile now with mobile phones, they don't need laptops to get hooked up on the blockchain. Africans are seeing the light and soon will be leading the rest of the world in new and fresh innovative technologies. I can see it happening, especially in the Green tech sector. So many young Africans are forward thinking and want to make a real difference, so I am sure Bitcoin will catch on like wildfire and many other altcoins that have cheap and fast transactions as well. 

[Vishnu.Reang]

I don't think that a lot of guys use credit cards in Africa. The multi-national banks are also not very active there, due to the higher risk of fraud and political instability. So there are few options for mobile and online payments. If Bitcoin uses this opportunity effectively, then it can capture a major share of the African online payment market.

[David Horton]

I was in South Africa two weeks back, at first, I thought that BTC wasn't known there, only to find out that it's getting more popular each day, more people and businesses are starting to adopt BTC. So I must say that BTC is getting recognised and more popular each and every day

[HongKong]

Going by the kind of discussions around social medial platforms on bitcoins/cryptocurrencies, the East African market is warming up to a future with bitcoins/altcoins. But given the potential, is the speed and frequency hopeful for digital currencies, comparatively speaking? Could someone consider ICOs with an African perception?

There's a bunch of people that use Bitcoin in Africa. The media does not really show that not everyone in Africa is poor, so the people living in the other parts of the world automatically assume that all the people in Africa are starving or don't have any electricity access.

There's a bunch of kids in Africa that know how to build electronic items from spare parts lying around thier villages and I feel that Bitcoin would be a nice thing that the adults could use when they want to store money outside their Country.