Will Africa be a good place for crypto?

[solkinsolali]

The success of digital wallets in the African continent was really great and based on what I've read on news articles about it, it really helped the economy and the businesses when it all started years ago.
With this in mind, will Africans be welcoming of bitcoin/altcoin as a real currency and not just a quick way to earn cash or invest? Like using it as real money / cash?

Africa may be slow to adapting quickly to the cryptocurrency trend. This may be as a result of its backwardness in technological awareness compared to Europe, Americas or Asia. But it will still be a very good place for crypto with time.

[1714132513]

1714132513

[syamster]

The success of digital wallets in the African continent was really great and based on what I've read on news articles about it, it really helped the economy and the businesses when it all started years ago.
With this in mind, will Africans be welcoming of bitcoin/altcoin as a real currency and not just a quick way to earn cash or invest? Like using it as real money / cash?

I think it will be as long as people there would acknowledge new technologies and someone will teach them how to use it properly. Hope that someday their place would look like "'Wakanda" in movies.

Yeah those who are using it will know the befits and easy way of getting income from it, now all over the world bitcoin is famous so learning about it is no more an issue, even the unaware people are able to make investment because it is very easy. Bitcoin is future maker it is good for all of us entire future is dependent on bitcoin, rise and fall happens but it will never get fallen forever.

[bonammeo]

I do not think this is a good idea. This idea is silly. The inflation in Africa is very high, just so much it is very difficult for it to use bitcoin as the main currency. Not to mention the low level of African folklore, it is hard to spread bitcoin here. Before we spread the bitcoin here, it's best to deal with the evils here.

[Aidenpeters]

Since most of the African countries are struggling financially, I wouldn't expect much from them. If the worldwide adoption continues as it is now, a lot of people will get involved to make a change.

[Asger223]

Cryptocurrency will be good in Africa but the issue of patient can be a challenge. Their country is struggling but making money on the cryptocurrency market is a very difficult thing.

[yvesp110]

I don't think so, the government definitely wants all assets held to be able to monitored and managed by the government, most likely the government will create its own currency based on cryptocurrency.

You are right it is not monitor but the government, we should try to maintain it in every country the same, buying coin and sell happens all over the world, not only Africa but a lot of other counties will be able to use it, now it is age of internet so getting information about something is really easy, try to buy some coin area and state does not matter at all.

[rhodelmabanal]

I don't think so, the government definitely wants all assets held to be able to monitored and managed by the government, most likely the government will create its own currency based on cryptocurrency.

Countries like Venezuela have gone through that path and I don't really see how well that's been working out for them at all, from research that I have done the crypto released by the government had been a total failure.

It's been really a hard situation for all crypto related aspects like a coin handled by government control, non so far become successful. These reasons is very crucial for all those who been trying to pursue their trading career, yet been hampered by a certain government regulations. Behind africa, there's no reason for crypto to grow but it needs total support by african community and the huge investors of the country. Government should always be fair with crypto due to it's decentralized type of currency and it's freedom of financial.

[hero1111]

If we are talking about crypto market , i dont think Africa will be a good place for crypto because Africa is not advanced area and people can use crpto will  illegal things and i dont want it because i want crypto market will be clean and i want people use it for legal things .I think ,  countries with advanced legal system will be a good place for crypto.

[Renampun]

The success of digital wallets in the African continent was really great and based on what I've read on news articles about it, it really helped the economy and the businesses when it all started years ago.
With this in mind, will Africans be welcoming of bitcoin/altcoin as a real currency and not just a quick way to earn cash or invest? Like using it as real money / cash?

I think to use cryptocurrencies like real money/cash it will still be very difficult, we all know that the average country in Africa is still a developing country, but if only as an investment, I am very sure that it is not difficult because we know that at this time cryptocurrencies are it. hopefully, in the future, more and more countries in Africa will know and utilize cryptocurrencies..

[yoseph]

Cryptocurrency will be good in Africa but the issue of patient can be a challenge. Their country is struggling but making money on the cryptocurrency market is a very difficult thing.

With the high level of poverty in Africa, I have no doubt that Bitcoins is going to be a big hit in Africa, countries like Nigeria have legalised the use of Bitcoins in their country and this have created lots of employment for the unemployed in the country.Others are also mining and selling bitcoins and other cryptos in the country.

[chrisculanag]

If they continue to enjoy cryptocurrency in their area they will definitely learn how to grow and exploit the crypto. And because of them, the crypto will be more recognizable because they are the only country that can thrive with the help of crypto and altcoins.

[bajingluncat]

What I know is that some of the countries in Africa are underdeveloped with high levels of poverty and uneven education, maybe the internet is still a luxury for some of its citizens, so it feels very difficult to make cripto as fiat money, let alone African developed countries not necessarily I can do that, but if it is to be used as an investment tool and a means of pursuing prizes, I think it is possible, there are many topics here that state countries that will replace fiat with cripto, but I have not received accurate references that I can consider a fact.

[wahyu wida]

If they continue to enjoy cryptocurrency in their area they will definitely learn how to grow and exploit the crypto. And because of them, the crypto will be more recognizable because they are the only country that can thrive with the help of crypto and altcoins.

as long as there are facilities that support, i think it's good for crypto places. many countries in Africa are already modern, so the community resources have supported. on other hand, Africa has abundant produce, like gems

[yusupjatigumilar]

The success of digital wallets in the African continent was really great and based on what I've read on news articles about it, it really helped the economy and the businesses when it all started years ago.
With this in mind, will Africans be welcoming of bitcoin/altcoin as a real currency and not just a quick way to earn cash or invest? Like using it as real money / cash?

I don't think there is anything that is impossible to happen, one of the ways is that crypto currency can be managed in the region of Africa. It is not possible that this could happen, considering the government of Africa is friendly to crypto currencies. with banks, of course this will attract investors to invest their capital in crypto currencies in the region of Africa

[el kaka22]

Considering economical condition of the African countries, it is unlikely that they will take the crypto currency as their main currency. They are trying to making money out of the cryptomarket and they are doing a great job at it.

Even if you want to place the whole African continent, stop generalizing things. The fact remains that in every settlement or continent, there is usually a place where there would be lesser development and places that are developing. There are absolutely developing countries in Africa and they are growing. Yes, there is still a long way to go, there is no doubt about that, but it is not as bad as a lot of people tend to portray it and most people only judge from some of the things they see on TV, assume Africa is just some jungle, but I think people should try to travel to some of the countries that are developing in Africa and see how their mentalities will change.

I believe in the long run, this nation is a place where a lot of the younger generations will want to take advantage of cryptocurrency based on how devalued the system has been, which we will get to see eventually.

[MMS2017]

Yes i think Africa is the big continent where that crypto wallets are using by major community and it i expected that price for crypto will be good there it is good if we hold bitcoin and crypto for a good future i do not want to sell any penny of mine.

[eaglewhite80]

Considering economical condition of the African countries, it is unlikely that they will take the crypto currency as their main currency. They are trying to making money out of the cryptomarket and they are doing a great job at it.

There are so many growing and developing countries in Africa and it is just about time before we started seeing cryptocurrency becoming a norm here. However, it will actually be hard anywhere in the world to see cryptocurrency being used as main currency.

A lot of people keep talking about internet and the likes, but believe me, it is not like internet is lacking in most developing parts of this region and technology wise, they are gradually getting there. Sure, we cannot compare to developed continents or countries, but as time goes on and as we get the younger generations who are well learned stepping into action, we would see great difference.

[ict]

In my opinion. all countries are a good place for the development of the crypto currency. all countries can be a good place if the country has good economic, technological and human resources infrastructure. so that crypto currencies can grow in the country. so that all countries have the same opportunity to be a good place for crypto development.

[Blackhammer321]

The success of digital wallets in the African continent was really great and based on what I've read on news articles about it, it really helped the economy and the businesses when it all started years ago.
With this in mind, will Africans be welcoming of bitcoin/altcoin as a real currency and not just a quick way to earn cash or invest? Like using it as real money / cash?

It will be a difficult thing to answer today,  because the African continent do not have a good economy. Majority of the people there are poor. So that it is better if they have the goal of earning money first. Then they can invest in bitcoin and with this we can say that this is the perfect time for the bitcoin to become the currency.

[prtty2gal2]

I think I differ slightly on this stand. Africa might be a bit backwards in terms of the literacy levels, but it's still not left far behind in terms of technology and advancements. There seems to be a lot of focus on the cryptocurrencies which are the offshoots of the blockchain technology, this governments of these African countries and other developed countries for that matter are against.

As far as I know, the population of the african continent is growing very rapidly. In 10 years a lot of people will live in Africa. Yes, the overall level of literacy is low, but the active and rich highly educated individuals can invest in the crypto exchange markets enough their capitals, so I do not consider this factor an obstacle.

By the way, in some african countries people can buy crypto currencies in order to preserve their money from the hyper inflation of local fiat currencies.

I pay attention to towns and cities in these countries. For example, South Africa currently seems to be a country with an attractive investment climate.

Level of literacy is not that low actually which is basically only high or on the median level among the older generation but for some research conducted recently by World bank, level of literacy among the youths is increasing by the day and presently should be around 70%.

I know African continent is one place that would really require a lot before things would be out in place economically and every wise. I believe in the long run, as some of the old folks get to pass away, there should be some improvement. The truth is that, Africa would really have been a good case study for the adoption of cryptocurrency but we know there are technical limitations as well as governmental limitations as well.