Will Africa be a good place for crypto?

[Symptomatic]

Although the financial status of Africa may not seem that good but cryptocurrency is helping the situation after it was introduced and it does not depend on fiat, so it might be a good place for cryptocurrency.

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[Thinkable999]

To be honest, it depends so much on socio-economic and political condition. If people happen to own crypto there and put them in no use, then it's a no brainer to own them unless for holding. Then there are goverments which should welcome cryptocurrencies in order to facilitate its momvent.

[Mr.Boring007]

Well, a place where a lot of people don't have access to internet would be a difficult place to start this thing. Although M-Pesa did good, it doesn't prove that crypto is going to work also. I am actually not so sure about this.

[pinoyden]

Well, a place where a lot of people don't have access to internet would be a difficult place to start this thing. Although M-Pesa did good, it doesn't prove that crypto is going to work also. I am actually not so sure about this.

i believe not all parts of the africa dont have acces to the internet because every country do always have an access to internet connection because internet is a verry important tool for every one in , we use internet to communicate in order for us to send and recieve important information or updates about the latest happening on the globe .

infact africa is really a good country to start your crypto business such as mining because the cost of electricity on that country is only cheaper when compared to most countries nowadays .

[pumbum]

perhaps they will be interested, because the inflation of their country's money is too high and does not allow them to spend faster than to earn

[Ewinsane]

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

Well, that is the major problem we are even talking about here, but the fact remains that these facilities are not in place and when they would even manage to be in place is what no one can ever tell, looking at how the governments in this part of the world are so archaic and find it hard understanding anything technology.

Africa may be a good place for natural resources, gems, oil or whatever you can think of, but the thing is that bad leadership is one thing that has really affected this continent and until they start getting a grip of themselves or maybe the youths start taking the bull by the horn, and if those youths are vast and learned, before we can start seeing any major development at all, let alone, talk about utilizing cryptocurrency for every day’s usage.

[indrakusumaindra]

Well i do think every country do have an advantages for cryptocurrency to grow. Mass adoption of crypto is inevitable but it takes a lot of time, crypto will be big and might replace money one day and also become the new way of investment like a stock or even replacing stock market.

[fasdorcas]

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

Yeah, Yeah! Nothing is impossible quite alright, but at the same time, things will not just happen out of the blue. For instance, someone with no internet access and no possibility this person could even get to have an access, then, I wonder how they really want to get to adopt cryptocurrency or have an idea of what it is, let alone how to use it in their daily lives.

I know we cannot generalize this for everywhere in Africa as we still have some places trying to do well technology wise, but really, I still feel they have a long way to go in the whole continent.

[Snake9999]

Although Africa is the most backward sector, it does not mean that their leaders have no wisdom, and the world will participate in cryptocurrencies. No country will reject cryptocurrencies.

[omonuyak]

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?

From South Africa to Eastern African we have been hearing how businesses are adopting bitcoin and I believe that the only way African can come out of the current economy hardship is to adopt cryptocurrencies and bitcoin.
If the exchanges rate of doing business in dollars is what put most Africa in bad light and bad financial crisis then the way to come out of it is to adopt a system that is transparent and decentralized. I have been studying the unfolding events in Africa and some third world countries and one thing I have find out is that dollar is the reason why there are in bad shape.

[awik p]

Although Africa is the most backward sector, it does not mean that their leaders have no wisdom, and the world will participate in cryptocurrencies. No country will reject cryptocurrencies.

for now there are still many countries that refuse cryptocurrency, i think that the holder of the role is government in that country, if allowed, of course it must be supported by facilities needed. for South Africa, i think it's very feasible

[cintamoni]

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.

They will use bitcoin as their country progresses, we know that a poor economy makes its human resources limited, like the internet,
gadgets and so on, most Africans may not have that? so it takes a very long process for this..

Maybe not directly has something to do with bitcoin.
I read that Africa, despite it's poor country, they built a lot of blockchain that's now being use and will be sustainable in the future.
I would not be surprise if soon they'll have their own currency.

Any country would be good for crypto it doesn't matter where you live and where you use. Its just all depends on us how we manage our coins and how we can make money with it.

[wuvdoll]

Maybe not directly has something to do with bitcoin.
I read that Africa, despite it's poor country, they built a lot of blockchain that's now being use and will be sustainable in the future.
I would not be surprise if soon they'll have their own currency.

Built a lot of blockchain ? I would like to know where you possibly got that news from in the first place to at least verify that you are not just saying what you feel like. It is one thing to be considering the aspect of knowing how to use cryptocurrency and it is another thing to even seeing them adopting blockchain pretty fast. Something they do not even have an understanding yet.

Yeah, there is no doubt some few blockchain businesses have popped out from the ideas of some youths in Africa. At least, I know of Kora, as well as KubitX which are not some bad projects which I bumped into, looking for some ICOs to invest in. However, there is still so much to learn generally before we would even be able to see the whole continent at large getting to adopt cryptocurrency, let alone, blockchain technology.

[trauchot]

Very few projects that start in Africa go to the world level, usually almost everyone can not even reach softcap or just something is not enough to translate their ideas into reality, or the approach is wrong, or just ideas that nobody needs.

[Corelianer]

For countries in Africa and in General those countries that have a poorly developed banking system, cryptocurrencies will be an excellent solution for payments.

[Febriana98]

if we look at the social and economic conditions in Africa, I don't feel that's good, it's useless to develop cryptocurrencies there, it's better to wait a few more years until the development of technology and education is evenly distributed because if cryptocurrencies have proven to be successful in developed markets, countries in Africa will surely be the target market too..

[Bobby park]

Every country can be a good place for cryptocurrency. But I think it will become better if it will establish in the country that is industrialized already. Africa is good also because a lot of natural resources can be found in this continent. There are many things to be developed and of course, they can make it specially, nowadays that there is a globalization.

[HarmonyA]

Africa has a good place in cryptocurrency. The continent is flooded with great technologies which has propelled the digital world across the continent. It is a good environment for crypto as there are already crypto to fiat exchanges.

[Harrow30]

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 did see a ranking recently and Nigeria was ranked 7th in the world of cryptocurrency transactions. With this indicated, it shows that Africa has embraced the cryptocurrency in itself and we can only hope for a better synergy as time goes on.

[lingwistiko]

Regardless of the class of the country, they have the right to use bitcoin and cryptos because bitcoin is for the people. If their government will back up this idea, then their economic status will somehow improve over the next few years or so.