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Author Topic: Will Africa be a good place for crypto?  (Read 1904 times)
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April 08, 2019, 08:48:53 AM
 #241

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 they are ready to accept everything from the cryptocurrency so if they are accepting cryptocurrency as like a normal currency there will be a huge possibility of development with their cryptocurrency but it need support from the continent hundred percent only will be the chance to take a move on.
- They are still not ready for this technology because Africa is a place with poor facilities and education is quite bad, they never use technology on a regular basis, the job of most people is manual labor and focus on exploiting natural resources, and with a condition not too ideal for technology, I don't think crypto can grow quickly here. I even think that countries here can ban crypto and not allow it to penetrate into the lives of people because crypto is always used for black market transactions, many terrorists have used crypto to transfer money, and this feature really is a dangerous thing for a society quite chaotic as in Africa

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April 08, 2019, 10:10:15 AM
 #242

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?

My question is why Africa will go behind where most of the Continent are crazy in crypto investment. Though African countries are struggling in food and safety but i think its very near that Africans will be more active into crypto and that will be wonder for all universe.

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April 10, 2019, 07:14:56 AM
 #243

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?

My question is why Africa will go behind where most of the Continent are crazy in crypto investment. Though African countries are struggling in food and safety but i think its very near that Africans will be more active into crypto and that will be wonder for all universe.
I don't think how we generally view africa reflect how the country really is. I mean yeah, the horrible situation of hungry children and dying people are a reality but some parts can actually cope up with modern technology and innovation. And i think given the right access, btc will  be well accepted here.

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April 12, 2019, 08:54:19 PM
 #244

And how is Africa different from the other world? Its developed areas will definitely be able to take part in the full development of the blockchain, less developed will be workers in bounty companies.

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April 12, 2019, 10:52:29 PM
 #245

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?
yes definitely they also had the ability to develop cryptocurrency by putting the effort of accepting it and it will be very helpful for the investors who are waiting to gain the profit with the development of cryptocurrency it will helpful for them to attract it.

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April 13, 2019, 06:38:17 AM
 #246

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?

My question is why Africa will go behind where most of the Continent are crazy in crypto investment. Though African countries are struggling in food and safety but i think its very near that Africans will be more active into crypto and that will be wonder for all universe.

It has no basis on what you saying and it is contrary with what you said, first you said they are struggling in food and now you are saying that they can be active into crypto, how is this be possible? How much support they should need to get those internet, and I believe they will want to get some food instead of internet coming on their country

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April 13, 2019, 12:44:12 PM
Merited by CryptopreneurBrainboss (1)
 #247

Africa is a good place for crypto to thrive. Three reasons:

1. A growing curiosity for high end technology, and an open market for emerging techs.

2. A high state of economic instabilities across the continent. (just like Venezuela), bitcoin as well as crypto as alternative to native currencies could alleviate many of the economic challenges faced by high-inflation risked countries. More so, blockchain itself should appeal to systems aimed at curbing corrupt practices.

3. Many unbanked and underbanked are becoming radically inclined to mobile technology-based banking systems as against legacy cashier systems.

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April 13, 2019, 01:00:06 PM
 #248

And how is Africa different from the other world?

They say africa is a huge country and its obvious that they had a huge population . now if people in this country will join crypto , the adoption of crypto is expected to grow massively  .

Its developed areas will definitely be able to take part in the full development of the blockchain, less developed will be workers in bounty companies.

Anyone can work on a bounty no matter what is the status of their life  and anyone can also take part on the development of the blockchain  . its about the willingness of the person that matter the most  .

I think an African is not up to bitcoin. Many even have no internet. After 50 years it will probably be so but not now.

They say that africa is now a well develop country . so theres a probability that most cities do already have an internet connection  .  africans are also smart and they are willing to learn the new technologies including bitcoin  .

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April 13, 2019, 05:01:02 PM
 #249

Now in South Africa, the cryptocurrency little by little  gaining turnovers, because Africans are well aware that it will bring great benefits benefit to the African economy.

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April 14, 2019, 03:04:38 AM
 #250

all countries have great potential for crypto development. because internet technology has spread throughout the world. so wherever crypto can develop. whether or not they depend on human resources. if human resources in every country are able to use and manage crypto, crypto will grow rapidly. crypto is very dependent on the user.
 

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April 14, 2019, 03:56:59 AM
 #251

And how is Africa different from the other world?

They say africa is a huge country and its obvious that they had a huge population . now if people in this country will join crypto , the adoption of crypto is expected to grow massively  .

Its developed areas will definitely be able to take part in the full development of the blockchain, less developed will be workers in bounty companies.

Anyone can work on a bounty no matter what is the status of their life  and anyone can also take part on the development of the blockchain  . its about the willingness of the person that matter the most  .

I think an African is not up to bitcoin. Many even have no internet. After 50 years it will probably be so but not now.

They say that africa is now a well develop country . so theres a probability that most cities do already have an internet connection  .  africans are also smart and they are willing to learn the new technologies including bitcoin  .

Africa is not a country, it is a continent. If we speak about South Africa, it is possible. It can work with the cryptocurrencies. However, most of the countries there are extremely poor: they will hardly use BTC.

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April 14, 2019, 04:45:11 AM
 #252

Africa is indeed a continent with good technological developments, even in the field of crypto currencies.
therefore Africa is indeed a place that is either a crypto currency.

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April 14, 2019, 05:02:10 AM
 #253

It's okay for Africa to adopt cryptocurrency but I don't think it's a good place for crypto because there are many factors to consider for better usage of crypto. They have good and advanced technology though but it's not quite to have a constant market for them. Assets and other alternatives will have a really hard time to grow but investing in assets of other countries, it will give them good profit.

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April 14, 2019, 05:54:09 AM
 #254

M-Pesa has nothing to do with cryptos and bitcoin, and the whole " Countries in Africa adopting cryptos" is such an overhyped theme people are getting bored of it.

It's been years since everybody was claiming each damn 3 world country be it from Asia or Africa, from Philipinne to Zimbabwe, Kenya to Vietnam will bring the new revolution and when articles like this came out some are still surprised about how reality, not hype works.

For god's sake, there are countries there where the illiteracy rate is above 60%!!! , we should talk about adopting an ABC not BTC.
You are right Africa as a continent need high level of education at the moment the level of poverty and underdevelopment in Africa is at alarming stage and at that only few members of that continent can access and use devices which are require for the smooth operation of bitcoin and cryptocurrency entirely. So African countries can work.on the improvement of other sector such as welfare, education and the economy in general before hyping how the continent is embracing bitcoin because in no time reality will speak.

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April 14, 2019, 10:10:36 PM
 #255

Africa is indeed a continent with good technological developments, even in the field of crypto currencies.
therefore Africa is indeed a place that is either a crypto currency.
Well I think all over the Africa we can see users of crypto currency, there are so many people who are using it for purchasing goods with crypto currency, as some of my relatives do live there and they use to buy anything they want, with crypto they can buy without any problem so I am sure Africa is the best place for it and all over the world crypto currency is being use.

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April 14, 2019, 10:17:24 PM
 #256

True that we have curiosity for learning about new things but the problem here is the illiteracy level of our law enforcement(police and EFCC) here in Nigeria.
Two months ago, the EFCC (Economic Financial Crime Commission) were arresting people with crypto wallets apps on their phones, especially the youths. I was so scared of going outside during that period because once you get arrested, you will be asked to pay 50k (over 150$ as a bail). This is still happening in some parts in the south west.
I don't think adoption will happen anytime soon if this keeps happening. They always say crypto is legalized and same time not legalized

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April 15, 2019, 02:07:29 AM
 #257

Africa is indeed a continent with good technological developments, even in the field of crypto currencies.
therefore Africa is indeed a place that is either a crypto currency.
Well I think all over the Africa we can see users of crypto currency, there are so many people who are using it for purchasing goods with crypto currency, as some of my relatives do live there and they use to buy anything they want, with crypto they can buy without any problem so I am sure Africa is the best place for it and all over the world crypto currency is being use.

it is not as we imagine, it is diafrika like being free in the use of crypto to meet daily needs, namely in terms of transactions. with so many people who are familiar with crypto, of course I am sure the people will be more prosperous, especially if the development of btc in the world is getting better

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April 15, 2019, 02:24:36 AM
 #258

Africa is indeed a continent with good technological developments, even in the field of crypto currencies.
therefore Africa is indeed a place that is either a crypto currency.
Well I think all over the Africa we can see users of crypto currency, there are so many people who are using it for purchasing goods with crypto currency, as some of my relatives do live there and they use to buy anything they want, with crypto they can buy without any problem so I am sure Africa is the best place for it and all over the world crypto currency is being use.

it is not as we imagine, it is diafrika like being free in the use of crypto to meet daily needs, namely in terms of transactions. with so many people who are familiar with crypto, of course I am sure the people will be more prosperous, especially if the development of btc in the world is getting better
maybe africa will be good if using cryptocurrency , moreover if they have high inflation in their countries.cryptocurrency could be the option for them to save their money and deflation.

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Mikwik
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April 15, 2019, 08:35:57 AM
 #259

As for I have heard and read about the current status of the Africa regarding crypto currencies, the citizens there are currently having their revolution too in crypto currencies. There have already been many transactions that involves the use of crypto currencies. This is a good thing to heard right. And for that, I do hope that all countries around the globe will be in one in the use of crypto currencies.
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April 15, 2019, 10:52:21 AM
 #260

Based on my current observation countries from africa are highly involved in high level of corruption, therefore it can really be a good alternative if the people around this area will consider blockchain tech.

The problem here is that most of the people here haven't understood this type of technology. Just like what happens to the Philippines when everyone are getting hype then realizing in the end how ignorant they are. If this countries will only take time to study how blockchain technology works then this might solve the problem rather than having the same mindset all over again "ez money scheme".

Look how china is progressing and look at how their government reacts because both of it's people and it's government bodies fully understood it's risk,benefits and features.

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