BITCOIN IN AFRICA

[mrcash02]

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.

Yes, it could happen. But first people must learn how to use Crypto-Currency without wasting money with Ponzi HYIP investments. Also, Africa is a very poor continent, internet access there is limited for many people, what would affect a lot Bitcoin's adoption. The situation there is very complicated, too many conflicts in many countries, what makes the concrete development almost impossible to be achieved.

And in Africa it is already happening an interesting phenom. Bitcoin price there is much more expensive than at rest of the world. Seems the rich ones there are already ruling/controlling the market... Did Bitcoin experience in Africa fail?

[Lasvista]

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

Well I think in the near future sooner or later it would happen and it could positively happen though , because african country has a economy friendly which is there would be no problem on implementing bitcoin or legalizing the bitcoin.

[GideonGono]

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

As far as I know still bitcoin not implemented in africa well it's just my opinion though , but I think african countries seems fine they rich and has a good economy. I'm not aware on this but here's an article that i've read feel free to look at.

Link: https://cointelegraph.com/news/an-african-revolution-being-borne-of-the-back-of-bitcoin-and-blockchain

[Nana1]

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 ?

Stop displaying your ignorance. The richest black person in the world is not from America or UK but Africa. There are many Africans who have the capacity to invest in Bitcoin.

[stompix]

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 ?

Stop displaying your ignorance. The richest black person in the world is not from America or UK but Africa. There are many Africans who have the capacity to invest in Bitcoin.

Wow, the richest black person is from Africa and not Europe.
I'm willing to bet that the richest white person is not from Africa but from the western World.
And that the richest Japanese guy is from Japan.

Let me tell you how ignorant you are:
Africa GDP:  $3.3 trillion  population 1.3 billion.
Eu GDP:  $17.1 trillion     population 500 millions
Us GDP:  18.57 trillion     population 325 millions

Bottom line is that the western world (without Canada)...omg Darkstar_ is going to kill me ......with 2/3 the population has more than 11 times money at their disposal.
That brings us to final ratio of 16:1.

Just because there is a millionaire in every god forsaken country it means nothing.

Don't run away from reality, unfortunately that's the truth, people in poor countries can't match what people in wealthy country have at their disposal. My country is 2 times as big as the Netherlands but when we come to what we can afford compared to them we're miles away, and this while still being part of the EU.

And what is worse, the difference is just going to get worse in terms of bitcoin adoption, poor people that don't have money to buy bitcoin now, they won't have money to buy after 5 years either.

[BennyK]

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

Yeah, i know of supermarkets that accepts BTC as payment with one run by a woman in my country in Africa. The fact is, most of the indigenes are not well vexed into cryptocurrencies with about only 20% of the total population being aware of cryptocurrencies. There are still more rooms to operate. We need to create more awareness

[Sithara007]

Stop displaying your ignorance. The richest black person in the world is not from America or UK but Africa. There are many Africans who have the capacity to invest in Bitcoin.

Yes.. times have changed. There are a lot of billionaires and a huge number of UHNWs in the continent of Africa. For example, the richest African (Nigerian business magnate Aliko Dangote) is presently worth around $14 billion. Bitcoin is getting more and more popular in countries such as Nigeria, South Africa and Kenya.

[gantez]

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

Here, maybe this can help you out:

List of African Bitcoin & Cryptocurrency businesses / services -> https://bitcointalk.org/index.php?topic=2154185.0

And as amTom123 has pointed out, bitcoin is Zimbabwe is skyrocketing to an astounishing $7K per bitcoin. Why? Because of the hardship and the economic crisis they are in at the moment, everyone is hoarding because they are thinking that there will be a lot of shortage of important things like food, water and fuel. And now they are hedging the situation buy hodling ar hoarding bitcoins. There failing economy will take years to improved, however the people thinks that they reverse it quickly by going into the ecosystem and buying bitcoins. So in times of economic crisis, bitcoin has provided a safe haven to store their wealth and value to buy outside their country like Venezuela's did right now or just simply having their wealth safe.

Quite clear that in economies where there are no proper organization and economic stability, the people there are bound to start hustling and searching for means of survival (because the government can't organise herself) and if bitcoin is one source, then they would survive.

But, I don't believe that some one can survive on bitcoin by just hodling it in the wallet and expecting growth every moment. I mean, such person would have blisters in the eyes as a result of continuous check of the wallet.

[KorakPawon]

I think you do not read the news about bitcoin development, or some recent articles that are about bitcoin, since 2014 in Africa have been in bitcoin development, if you ask any who have been using bitcoin In Africa, Kenya is one of four new countries after BitPesa became the first Bitcoin startup based in Africa to receive VC funds.

[jhongzjhong]

So far I have known in the country of Africa that allow bitcoin are in South Africa and East Africa, yes Africa have the biggest continent and I guess some country there are not stabilized will and some of them are not having an internet.
South Africa has a fairly advanced economy relative to most Sub Saharan countries. It came as no surprise, therefore, when PayFast, a South African payment processor, became the first to process bitcoin payments on the continent! An online retailer in South Africa followed the announcement with one of their own, they announce that now they accept Bitcoin as a payment method.

[ahmad21]

I have read a lot about this earlier as well. This was the article I am talking about. http://www.bbc.com/news/world-africa-42582343
This is an old article. but seeing the recent development of bitcoin in African countries surprise me. Like ithas become a tempting phenomenon for the African countries all around and it is good to see this happeing.

And this is what i have read more recently http://money.cnn.com/2018/02/14/technology/bitcoin-luno-billion-users/index.html

All this is pointing towards one thing that bitcoin's acceotance is soon going to become worldwide.

[TrumpD]

I don't think that any African country has officially come out to endorse bitcoin and crypto currencies. However, I would suspect that there unofficial trading exchanges that serve such countries. However, what I am certain about is that The government of Kenya is taking a great step towards understanding the Blockchain technology and looking for ways how to implement them into their systems.

[iconternal]

Maybe I think in Africa is still less understanding about bitcoin, but I think Zimbabwe has already received and applied about cryptocurrency especially bitcoin.

[Tigorss]

Africa tries to regulate the presence of bitcoin in the country where it is not a fundamental question of whether bitcoin needs to be regulated or not, but rather to whom it will govern. the issue of decentralization is the most important thing in bitcoin ecosystems to maintain the stability of their economies.

[qwertyup23]

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

I am not really sure on what countries in Africa are applicable in order to embrace bitcoin as an alternative currency, with respect to their economic status and land point. Considering that most countried in Africa are suffering and are categorized as an underdeveloped country, they cannot adapt a digitalized form of payment wherein most of their population does not have access to the internet.
If the government plans on embracing this system, they have to prioritize this over other practical means like infrastructures and technological advancement reforms. I highly doubt about it anytime soon

[Binugon]

You contradict yourself. If Africans are experiencing problems with the economy that people earn little. This means that their income is enough only for most necessary things and they have no opportunity to save money for a rainy day. The only way for them to be able to stay afloat is earning bitcoins but they will not be able to hold them because they need money to live.

Not only that, blockchain on Cryptogene has the potential to transform Africa by allowing ever more open trade within the African continent to the rest of the world. By encouraging innovation and expanding access to the banking system for all countries and providing greater access to financial services in emerging markets.

[richardsNY]

By encouraging innovation and expanding access to the banking system for all countries and providing greater access to financial services in emerging markets.

With crypto the people in third world countries don't need to access financial services. Don't forget that these services tend to heavily discriminate the poor, which is exactly why crypto forms the perfect alternative. As soon as these financial services start to notice how people no longer need them, they will do everything to start pleasing even the poorest, but then it has no real use anymore. Give these people a mobile device with an internet connection and a lightning enabled wallet client, and that's all they need. Sending value from one entity to another will be the easiest and fastest practice in the world, and practically free. As much as how financial services ignored the poor, so will the poor ignore financial services in current times. In Bitcoin we trust.

[Baoo]

Well, I do not have much information about what happened in Africa about Bitcoin transactions., but I see that in that continent, there is no greater knowledge in the field of cryptocurrencies and even their importance positively in this era, except Maroc and South Africa which are planning through future projects, to benefit from  Bitcoin and this is a good step for those two countries.

In addition to that, it is unfortunate that many countries (especially in Africa and Asia) do not know that Bitcoin have changed all financial transactions in a good way, and have become better than FIAT (Dollars, Euro.. ). but if bitcoin will become stronger and the governments cannot destroy it and cyrptocurrencies in general, than it certain that many countries will recognize it as a legal currency.

[stompix]

You contradict yourself. If Africans are experiencing problems with the economy that people earn little. This means that their income is enough only for most necessary things and they have no opportunity to save money for a rainy day. The only way for them to be able to stay afloat is earning bitcoins but they will not be able to hold them because they need money to live.

Not only that, blockchain on Cryptogene has the potential to transform Africa by allowing ever more open trade within the African continent to the rest of the world. By encouraging innovation and expanding access to the banking system for all countries and providing greater access to financial services in emerging markets.

Stop thinking that the blockchain is the magical solution for everything in this world, it's just a database that is not going to cure cancer, save the polar snow cap or improve the economy of Africa in 2 steps.
You can't have a real working economy without infrastructure without an educated workforce and the blockchain will not construct 100 km of highway every block nor it is going to solve your math problems in school.
People waiting for a miracle will die waiting, the EU and Japan have raised from ashes without cryptos and the countrys in Africa should learn from that. Unfortunately there is nobody there willing to do that

[seven2smoke1]

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

I think there is some African countries that allow bitcoin transactions or maybe they haven't yet any rules about bitcoin and in general cryptocurrencies, Few of them are in the north of Africa. I heard that there is some countries in Africa that allow using bitcoin to buy some items, like electronics and paying bills, etc.