Why is Africa Slow on the Bitcoin Uptake?

[real_links]

There are masses of potential for Bitcoin in Africa. It’s a monetary system for the unbanked, it’s trustless and far less corruptible, and it can create a new monetary system where there’s no long legacy of banking and financials.

However, across the continent, in different countries, the uptake has been surprisingly slow. From South Africa and Nigeria, as the biggest players in Bitcoin, to smaller nations like Tanzania who are seeing big growth, but with small numbers.

https://cointelegraph.com/news/why-is-africa-slow-on-the-bitcoin-uptake

[hypersonic1]

Many countries in Africa don't even have power every day let alone the computer knowledge to get on the internet and google bitcoin. There are plenty of exceptions like South Africa. There is a chart out there called "Maslow's Hierarchy of Needs". Simply put, if you are having trouble surviving...you can't focus on anything else including simple things like trying to better yourself. Bitcoin is pretty high on that pyramid. With rampant corruption, poor electricity, water and other utilities. They sadly have other things to worry about. :/

[naf]

I don't know in Africa but here in South America we are not even used to credit cards so... how could common people believe in digital currencies? Besides, our political systems need corruption and banks. So, government would hardly promote bitcoin.

[Orange Guy]

My teacher always told me that there aren't any dumb questions.

This is one.

[hypersonic1]

My teacher always told me that there aren't any dumb questions.

This is one.

They might just not know, just answer the question. people learn different ways.

[darkangel11]

Africa is always slow. It never keeps up with the rest of the world and their answer usually is "because white men raided us, disturbed the peace, were exploring, digging out diamonds and stuff" In reality 2000 years ago when Romans were conquering Europe and building roads people in Africa were chasing monkeys and living in clay huts. 1000 years later it was still the same.

[DewiKirana]

Not all understand about bitcoin, besides the absence of advertisements or agencies that introduce digital currency such as bitcoin to the public. And the community itself who does not want to find out about bitcoin is the cause of the slow bitcoin in Africa.

[gabbie2010]

One of the greatest obstacle militating against growth of bitcoin in Africa is electricity and unavailability of internet, according to statistics from wikipedia '6.2% of the World's Internet subscribers are Africans. This show there are smaller internet users in Africa, and accessing bitcoin online requires internet.

[2fresh]

We're talking about a 3rd world continent. It's not hard to guess why the bitcoin uptake is slow.

[valucash]

Africa is always slow. It never keeps up with the rest of the world and their answer usually is "because white men raided us, disturbed the peace, were exploring, digging out diamonds and stuff" In reality 2000 years ago when Romans were conquering Europe and building roads people in Africa were chasing monkeys and living in clay huts. 1000 years later it was still the same.

You're wrong! Africa is the cradle of civilization, look at the many inventions from Egypt alone. The colonization had a negative effect on Africa, you can't rob a continent of his working class and use them to build your continent and expect them to catch up with the rest of the world overnight. Apart from this, the western world have consistently sabotaged Africa's growth. First by installing bad leaders, secondly by colluding with corrupt government officials to decimate their economy. Have you been to Africa? until you do you may not have answers to these questions.

[RodeoX]

I wondered this also. So I'm going there to find out.

Many of thee reasons people think are not well founded. Africa is a happening place right now with a lot of tech projects. And Africans are already using forms of digital currency without banks. For example a commonly used form of money in Africa are cell phone minutes. They trade them with their phones rather than use them to talk. So you might buy something from a street vendor for 36 talk time minutes.

I'll have more to report when I get back to the states next year.

[brickafterbrickwalldpt]

This is a pretty easy question to anwser, infact the explanation is pretty much the same for alot of the countries on that continent. To put it simply, almost all of Africa is preeeetty poor. Unfavorable terrain and climate, technological backwardness, not to mention the still apparent effects of colonial rule have hampered development of alot of these countries, and the anwser to your question is the aforementioned technological backwardness. Alot of African nations cannot provide stable and constant internet access, which is already a huge blow to cryptocurrency popularity in these countries, but even with that resolved you got to factor it that cryptocurrency is still a rather alien concept to a wide percent of the entire human population, and especially the people in lesser developed countries would definitely prefer to not put their trust in something they do not grasp entirely.

[Anonylz]

You must know that Africa is a very difficult country, and most people doesnt even have a computer or a smartphone to access to the internet, so it is pretty impossible for them to have bitcoins in their lifes, and you are expecting to have an advanced technology in there?
It is impossible, africa is quite outdated, only those countries that are rich in there can afford a good living, and access to the internet.

[ninabobo]

There are masses of potential for Bitcoin in Africa. It’s a monetary system for the unbanked, it’s trustless and far less corruptible, and it can create a new monetary system where there’s no long legacy of banking and financials.

However, across the continent, in different countries, the uptake has been surprisingly slow. From South Africa and Nigeria, as the biggest players in Bitcoin, to smaller nations like Tanzania who are seeing big growth, but with small numbers.

https://cointelegraph.com/news/why-is-africa-slow-on-the-bitcoin-uptake

Africa is a country that belongs to many civil war conflicts. I think the African continent will be a lot of bitcoin and crypto users. maybe this time is not so strong, but who knows the upcoming time africa will become the country most bitcoin and crypto users.

[gentlemand]

The wholesale description of Africa as a place where everyone is sat in the dark after a long day's civil war is a silly one. There are plenty of prosperous pockets.

There's no mining as far as I know which means any coins sold there have to come from somewhere else. As there's little or no conventional banking, and almost no international banking, there's no way for non Africans to sell to them apart from the occasional visitor selling for cash.

Without mining or incomers selling the only other option is Africans working for Bitcoin. I presume there are a few but in the whole world there aren't very many people working for BTC.

[zypa]

looking forward to see african people take up the digital path. perhaps we can even donate more easily by ecoins and help their struggles..

[kriptotr]

There are masses of potential for Bitcoin in Africa. It’s a monetary system for the unbanked, it’s trustless and far less corruptible, and it can create a new monetary system where there’s no long legacy of banking and financials.

However, across the continent, in different countries, the uptake has been surprisingly slow. From South Africa and Nigeria, as the biggest players in Bitcoin, to smaller nations like Tanzania who are seeing big growth, but with small numbers.

https://cointelegraph.com/news/why-is-africa-slow-on-the-bitcoin-uptake

They are poor people in terms of food, ability, knowledge and internet. There isn't many things they can do to adopt bitcoin.

They have been exploited for years by rich countries.

[subSTRATA]

We're talking about a 3rd world continent. It's not hard to guess why the bitcoin uptake is slow.

lack of infrastructure, education, and a willingness to invest effort into secondary needs. it's a fact, africa isnt exactly the forefront of technology in our world, not just in development or anything, but the infrastructure just isnt there. usage of modern technology isnt widespread, and there isnt even a sufficient economy to support development of technological infrastructure. even setting the economy aside, i dont think a sufficient part of the african population can even set aside time from the basic necessities (work, survival) to educate themselves or familiarize themselves with modern technology. it's just not a suitable environment for progress.

[BitSat]

Most of African countries facing different crises like civil war water and lake of food just because of this they are not good in using technology but now in recent years some development going on and they have many good things to cheer using mobile technology and using time for buying and selling is one of them hope they will adopt this one in near future

[Lpim01]

Not all understand about bitcoin, besides the absence of advertisements or agencies that introduce digital currency such as bitcoin to the public. And the community itself who does not want to find out about bitcoin is the cause of the slow bitcoin in Africa.

Africa is one of the poor country and it's internet accessibility are also limited in most of their area. It's very often that, crypto currency are not embraced and widely known for their citizens. And their people have nothing sense of interest towards bitcoin, probably they are looking for a source of income that can provide their families daily.