BITCOIN IN AFRICA

[stevewhyte]

nice observation

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[Hordrick]

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

[kimochidesh]

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.

[DamCryp]

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.

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.

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.

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 ?

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.

[Juandaavalencia]

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.

[treather]

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.

[kris_wolf]

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.

[Lancusters]

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.

[audaciousbeing]

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.

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.

[Slow death]

Lol. Do you think that in remote villages have Internet?

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

I am sure that there is not even electricity.

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 do not believe that bitcoin will ever be used by people who do not know how to read and write.

I also believe in this


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

[bosede1]

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

[sweetstakes]

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!

[Kemarit]

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.

[RealKhan]

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.

[Felix1]

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.

[newwest]

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.

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.

[lili song]

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.

[Granxis]

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.

[Gotumoot]

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

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.

[Taltic]

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