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Author Topic: Will Africa be a good place for crypto?  (Read 1850 times)
adamlillian
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April 15, 2019, 11:54:49 AM
 #261

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?
Although Africa is trying to develop Crypto as well as blockchain technology, their country still cannot make the blockchain popular and better. We all know that Africa is a collection of underdeveloped countries and it certainly will not bring about a good crowd effect.

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April 15, 2019, 10:22:40 PM
 #262

I don't think Africa can really cope with the technology behind cryptocurrencies at the moment because most parts of Africa are still facing issues with energy supply and most of them also don't have constant internet supply. With the little amount of internet supply that is provided has also weak signals and this is really not good for cryptocurrency transactions. Hopefully Africa can come on board into the cryptospace have been fully developed.



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April 15, 2019, 11:43:27 PM
 #263

I don't think Africa can really cope with the technology behind cryptocurrencies at the moment because most parts of Africa are still facing issues with energy supply and most of them also don't have constant internet supply. With the little amount of internet supply that is provided has also weak signals and this is really not good for cryptocurrency transactions. Hopefully Africa can come on board into the cryptospace have been fully developed.
Yeah, it could be hard for them due to its capability but they have still chances to cope up this technology if their leaders will pursue to their plans of adopting the system. They people aren't capable enough to run in solo, though not all of them cause I know that some of them where in crypto now but majority of them can't be. Anyways, we are still in the early stage and have enough time to catch this technology.

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April 16, 2019, 01:23:16 AM
 #264

I don't think Africa can really cope with the technology behind cryptocurrencies at the moment because most parts of Africa are still facing issues with energy supply and most of them also don't have constant internet supply. With the little amount of internet supply that is provided has also weak signals and this is really not good for cryptocurrency transactions. Hopefully Africa can come on board into the cryptospace have been fully developed.
Yeah, it could be hard for them due to its capability but they have still chances to cope up this technology if their leaders will pursue to their plans of adopting the system. They people aren't capable enough to run in solo, though not all of them cause I know that some of them where in crypto now but majority of them can't be. Anyways, we are still in the early stage and have enough time to catch this technology.
although at this  moment they could not participate in blockchain developtment due their limitations, african could test and review the advantages blockchain technology in their company or government.if this test produce good result their government could issue policy that will support blockchain ecosystem.

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April 16, 2019, 01:32:37 AM
 #265

Every where will be good for cryptocurrency if government want to accept bitcoin as transaction payment and want to make bitcoin become legal transaction, I thin every country will have many investor are interested with bitcoin and altcoin investment.

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April 16, 2019, 04:37:15 AM
 #266

Every where will be good for cryptocurrency if government want to accept bitcoin as transaction payment and want to make bitcoin become legal transaction, I thin every country will have many investor are interested with bitcoin and altcoin investment.
Yes, I agree. if the government there accepts bitcoin, and teaches their people about this technology, I think this can be a very good development for them. however, until now not many countries have implemented bitcoin, or taught bitcoin for their people.



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April 16, 2019, 05:13:28 AM
 #267

Every where will be good for cryptocurrency if government want to accept bitcoin as transaction payment and want to make bitcoin become legal transaction, I thin every country will have many investor are interested with bitcoin and altcoin investment.
Yes, I agree. if the government there accepts bitcoin, and teaches their people about this technology, I think this can be a very good development for them. however, until now not many countries have implemented bitcoin, or taught bitcoin for their people.

Only few countries are left that ban bitcoin and crypto but now its been said that almost hundered countries are now using and legalizing cryptocurrency and yes you guys were right that every country is ideal crypto start ups as long as they allow cryptos but africa is the one that we are talking about here  .   as i see africa is a large country but most of the cities on this country are maybe not yet develop . its better if we foccus sorting this issue before we advance to teach those people to join crypto  .

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April 17, 2019, 06:37:25 PM
 #268

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.
  Cryptocurrency is really good for economical development because it gives so many opportunities to the investors, it has abilities to increase the importance of the national earning. Africa is the well developed country so I think it will surely be using cryptocurrency and it has internet access almost everywhere so crypto is applicable there.

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April 17, 2019, 11:22:42 PM
 #269

The introduction of crypto to African countries would further worsen their state of finances as most governments of theirs would find ways and means to jeorpadize the features of the technology just to satisfy their greed. In addition, most african countries have very low literacy rate and one common theme in crypto investments is doing your own research. So how do you expect countries with very low literacy rate to conduct background researches into some activities in crypto.

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April 18, 2019, 01:08:20 AM
 #270

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'm not from Africa but with it's population, financial history, and economic status, they can do it and in fact, they should, if the digital wallets have a huge success here, I can't see any reason why they should not succeed here, and I've also seen a lot of good developers here in Bitcointalk offering their services.

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April 18, 2019, 04:53:25 AM
 #271

The introduction of crypto to African countries would further worsen their state of finances as most governments of theirs would find ways and means to jeorpadize the features of the technology just to satisfy their greed. In addition, most african countries have very low literacy rate and one common theme in crypto investments is doing your own research. So how do you expect countries with very low literacy rate to conduct background researches into some activities in crypto.
l am not sure what Africa you're referring to, but it's incorrect to throw a blanket over a whole continent and make rash conclusions. There is a burgeoning middle class in Africa that is adopting all the latest technology and thriving at it too. Yes, levels of literacy in some areas may be low, but only people who are willing and able to can adopt crypto. Hence, it doesn't necessarily translate to worsening conditions on the continent. Besides, how much research do people from developed countries or 'high literacy rate' countries actually do?

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April 18, 2019, 05:44:23 AM
 #272

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'm not from Africa but with it's population, financial history, and economic status, they can do it and in fact, they should, if the digital wallets have a huge success here, I can't see any reason why they should not succeed here, and I've also seen a lot of good developers here in Bitcointalk offering their services.
as long as there is access to fulfill the cryptocurrency, I don't think there is a difference, where do we come from. and we will be able to succeed according to our intelligence in the analysis. especially if Africa is supported by the government in this matter

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April 18, 2019, 06:21:24 AM
 #273

Yes, of course, Africa will be a good place for cryptocurrency. Because now African people have got the idea about cryptocurrency. They are now starting to use cryptocurrency. Among African people, the positive idea about cryptocurrency has been created. They are now ready to earn and use cryptocurrency. There are many campaigns to promote cryptocurrency now in Africa. So I think the future of African people is bright. Africa is a good place for cryptocurrency.

Thank you

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April 18, 2019, 06:51:39 AM
 #274

Yes, of course, Africa will be a good place for cryptocurrency. Because now African people have got the idea about cryptocurrency. They are now starting to use cryptocurrency. Among African people, the positive idea about cryptocurrency has been created. They are now ready to earn and use cryptocurrency. There are many campaigns to promote cryptocurrency now in Africa. So I think the future of African people is bright. Africa is a good place for cryptocurrency.

Thank you
Crypto currency will not get better if they are using to make profits because the profits will be converted into fiat money which makes the implementation of decentralization to be void.Africa is a good place where their money has no stable value and got corrupted much so they have an option to pick decentralization but its still on the hands of people from Africa.

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April 20, 2019, 10:15:26 AM
 #275

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'm not from Africa but with it's population, financial history, and economic status, they can do it and in fact, they should, if the digital wallets have a huge success here, I can't see any reason why they should not succeed here, and I've also seen a lot of good developers here in Bitcointalk offering their services.
as long as there is access to fulfill the cryptocurrency, I don't think there is a difference, where do we come from. and we will be able to succeed according to our intelligence in the analysis. especially if Africa is supported by the government in this matter
For sure Africa is well developed state where people are educated and people are well aware of the new technologies, internet access is surely high level and faster so we can except it to be the best place for cryptocurrency, it is acceptable people are accepting and using it only 10 percent of African areas are lack of internet access.

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April 20, 2019, 11:06:53 AM
 #276

Africa is not a single country. There are more than 50 different nations and the laws and regulations regarding Bitcoin can be different for each of them. From what I have heard, sizable markets exist in three of the African nations - Nigeria, South Africa and Kenya. So as a first step, we can concentrate on these nations and later expand to the others.

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April 20, 2019, 11:43:25 AM
 #277

Crypto is useful for the African content, but it is limited to a degree. For day to day usage, they will probably have to stick with the cash note version of the local currency for convenience. It will be most useful when they are sending money for international transactions - but even that has pitfalls as there is no chargeback option if someone overseas tries to scam you,
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April 20, 2019, 11:59:10 AM
 #278

All around the world there is big change happening through technology. Africa is no exception to it, and it's global participation in the blockchain technology related activities keeps growing. In terms of user base Africa hasn't got big, but there are good number of users in selected localities, further widening of the market could happen through these people who are earlier into the cryptocurrency network.

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April 20, 2019, 01:12:58 PM
 #279

I think Africa is not a good place for crypto, there are not many crypto users in Africa, I also look there are some projects from Africa like ''afrochain" ... and i think it is a low project, for now Africa doesn't have a big crypto community

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April 20, 2019, 07:56:41 PM
 #280

I don't think Africa can really cope with the technology behind cryptocurrencies at the moment because most parts of Africa are still facing issues with energy supply and most of them also don't have constant internet supply. With the little amount of internet supply that is provided has also weak signals and this is really not good for cryptocurrency transactions. Hopefully Africa can come on board into the cryptospace have been fully developed.
Thats true, the government's concern is not for new technology, they are more likely to solve economic problems, how poverty can be reduced in their countries, because the economic inequality is very large, we cannot expect crypto adoption in Africa

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