Will Africa be a good place for crypto?

[electronicash]

when it was reported that BTC is getting attention in Nigeria, BTC investors are liking but it was later learned that it was the result of the BTC scheme om the country making them use BTC.  iguess for a corrupt countries, BTC will be taken advantage by these politicians and scammers. but in Brazil and in the first countries adoptiing BTC, the use of crypto has become more of a normal fiat specially in Japan.  the big difference when it comes to corrupt countries and countries who willingly adopt crypto.

[arifteguhr]

In my opinion, in an African country, I think it is not quite right because in that country, from my point of view, conditions and internet access are still lacking and in the end what happens is not many citizens understand how to use it. yes even though it will indeed be given education but it is still not able to make them able to understand it in a short time.

[Oneandpure]

I think the countries there are not enough to use Bitcoin as a major currency. I know that their country is struggling but making money on the Crypto market is a very difficult thing. Because if the investors do not have much money, they will become whale prey. it's true.

Around the world always become good place for crypto but depend with how support access to bitcoin like internet, device using for access to bitcoin account have available in some country or not, without have support access for bitcoin like faster internet, available device and support electric I think will be good place for bitcoin although in Africa, if have many way to support bitcoin become interested investment there.

[ufaiz50]

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?

Very difficult to apply that concept for bitcoin and altcoin. making real currencies have special rules and procedures, especially as crypto is still a taboo in the government system. And if the desired digital currency will be easier if they create their own cryptocurrency to become a real currency.

[worldofcoins]

From what i can tell Bitcoin will be used more illegally there, especially illegal diamond trades.

I doubt country growth wise it's not a good thing.

[ongkok87]

In my opinion, in an African country, I think it is not quite right because in that country, from my point of view, conditions and internet access are still lacking and in the end what happens is not many citizens understand how to use it. yes even though it will indeed be given education but it is still not able to make them able to understand it in a short time.

Not all African countries in my opinion as you imagine. some countries themselves have contributed significantly to the development of crypto and have even made projects. I have seen in 2018 many people from the continent become an advisory team in the ICO Project and of course the development of cryptocurrency can still be done in Africa

[nasipadang]

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 Africa will welcome the arrival of cryptocurrency well, and not allow it to happen. I also feel there will be many obstacles if cryptocurrency becomes money that is used daily. Making money through crypto is good, but can it be used easily in everyday life?

[finzyoj]

Making money through crypto is good, but can it be used easily in everyday life?

Sure! Why not? Besides, it was the real vision of satoshi in the first place . Look at Vebezuela, they're fiat is now almost valueless so they start switching to bitcoin. See? It's possible, it just takes some willingness and time to implement. If Venezuela able to do this then the rest also can, maybe the only issue is they don't want to and that's the sad reality.

[Omega Weapon]

Almost every person in Africa who contacts me by Telegram and Instagram about bitcoin wants to get rich quick, and is often already involved in a ponzi or similar 'system' or 'platform'. The most common thing people ask is how to join, how long before they are a millionaire, and how much do they make monthly. I think it's mostly the "rich" Africans who trade and involved in Bitcoin and Cryptocurrencies.

In all honesty many of those that wish to become part of the market think in that way at the beginning, they have heard the stories of those that became rich and they think it can happen to them but we know the truth, the most common outcome is losing money due to a scam or by simply timing the market wrong, then there are others which have obtained profits but nothing like what they want and even more uncommon are the stories of those that became millionaires.

[yulionoo]

I think as long as the country's government allows and supports cryptocurrency. then Africa will be a good place for cryptocurrency. African countries are now developing and have good economic growth. if they can utilize cryptocurrency and adopt blockchain technology I'm sure Africa will become a developed country.

[White Christmas]

I don't think so that the africa will be a good place for crypto because as we all know Africa is one of the very down economy in the world and in Africa there are still places who don't access internet connections so that's why I don't think that the Africa will be good place for crypto. Maybe it is good in order to help their economy to grow but not a place for crypto.

[AicecreaME]

I don't think so that the africa will be a good place for crypto because as we all know Africa is one of the very down economy in the world and in Africa there are still places who don't access internet connections

Venezuela also have a poor economy, yet they manage to support themselves with bitcoin, and about the internet connections, it could be solve with the help of their Government (if they want it).

so that's why I don't think that the Africa will be good place for crypto. Maybe it is good in order to help their economy to grow but not a place for crypto.

If Cryptocurrency could help them to grow their economy, doesn't it make good place for Cryptocurrency?

Yes, right?

[Memminger]

I don't think so that the africa will be a good place for crypto because as we all know Africa is one of the very down economy in the world and in Africa there are still places who don't access internet connections

Venezuela also have a poor economy, yet they manage to support themselves with bitcoin, and about the internet connections, it could be solve with the help of their Government (if they want it).

The problem is the government, the politicians who are corrupt. So it would be ineffective to introduce Bitcoin in Africa since the people who are in authority need to change first for the better. It might be used to be abused by storing the funds that they had taken from the people to crypto and make themselves even more wealthy also people who are lacking in education would have a hard time to adapt in this kind of technology.

so that's why I don't think that the Africa will be good place for crypto. Maybe it is good in order to help their economy to grow but not a place for crypto.

If Cryptocurrency could help them to grow their economy, doesn't it make good place for Cryptocurrency?

Yes, right?

Nope. Wrong.

[bitzizzix]

In my opinion, Africa seems to be the right place for expansion of the cryptocurrency business that has developed on other continents, the potential of this continent is demonstrated by 725 million mobile users, which makes the cryptocurrency currency can be adopted by people in Africa.
and that will help their economy or finance individually, and what I have heard is that the majority of crypto users are favored by Millennials on Aprika, and as long as an area has been reached by the Internet, they can also access the crypto currency.

[Sithara007]

I think as long as the country's government allows and supports cryptocurrency. then Africa will be a good place for cryptocurrency. African countries are now developing and have good economic growth. if they can utilize cryptocurrency and adopt blockchain technology I'm sure Africa will become a developed country.

The advantage with Bitcoin is that you only need an internet connection (no matter how slow it is), and a smartphone to store your money. This can be a huge boon for the Africans, as the bank coverage is very thin (especially in the rural areas). I am not saying that Bitcoin will completely replace the formal banking sector, but it can be very useful if someone wants to transfer small amounts and in cases of emergency. A lot can be done in Africa, as long as there is a will and the governments doesn't become overly hostile towards Bitcoin.

[AicecreaME]

I don't think so that the africa will be a good place for crypto because as we all know Africa is one of the very down economy in the world and in Africa there are still places who don't access internet connections

Venezuela also have a poor economy, yet they manage to support themselves with bitcoin, and about the internet connections, it could be solve with the help of their Government (if they want it).

The problem is the government, the politicians who are corrupt. So it would be ineffective to introduce Bitcoin in Africa since the people who are in authority need to change first for the better. It might be used to be abused by storing the funds that they had taken from the people to crypto and make themselves even more wealthy also people who are lacking in education would have a hard time to adapt in this kind of technology.

We're talking about possibilities here so you should understand that these are all what ifs, let me give a simple explanation for this.

Yes, they're uneducated and do have a corrupt government or (don't have the will to end up poverty) in Africa, but what I'm saying is if only Africa do have the same Government like Venezuela, then they could end poverty soon enough with the help of cryptocurrency.

so that's why I don't think that the Africa will be good place for crypto. Maybe it is good in order to help their economy to grow but not a place for crypto.

If Cryptocurrency could help them to grow their economy, doesn't it make good place for Cryptocurrency?

Yes, right?

Nope. Wrong.

Care to tell why?

Remember I'm saying that if Cryptocurrency could help them to grow (save) their economy, doesn't it make a good place for crypro?

[logicgate]

I think as long as the country's government allows and supports cryptocurrency. then Africa will be a good place for cryptocurrency. African countries are now developing and have good economic growth. if they can utilize cryptocurrency and adopt blockchain technology I'm sure Africa will become a developed country.

The advantage with Bitcoin is that you only need an internet connection (no matter how slow it is), and a smartphone to store your money. This can be a huge boon for the Africans, as the bank coverage is very thin (especially in the rural areas). I am not saying that Bitcoin will completely replace the formal banking sector, but it can be very useful if someone wants to transfer small amounts and in cases of emergency. A lot can be done in Africa, as long as there is a will and the governments doesn't become overly hostile towards Bitcoin.

Africa could serve as a great place for the mass adaptation of bitcoin since they are really in need of something that could generate revenue for them in short time span without much effort. As far as transferring money is concerned, they can also take advantage from the dual nature of bitcoin without relying on banks anymore. I am sure that government would allow people or assist them regarding bitcoin for better economy.

[Vishnu.Reang]

Will people in  Africa be smart enough for crypto?

Cryptocurrency is not rocket science. It is actually quite easy to store your coins and to do transactions with them. Tutorials are available in Youtube and other social media channels. In fact, I would say that using cryptocurrency is easier than operating an online bank account, or paying your bills with a credit card. So I would say that your question is irrelevant here.

[AicecreaME]

Will people in  Africa be smart enough for crypto?

When you entered this forum, are you already a Hero Member? No, right? that is exactly the same of what you asked. Maybe people in Africa are not yet smart enough to use cryptocurrency but they could learn on how to use it, proper education is their stepping stone for this, we don't have to think of them as a low level creature because of their social status, it is not their fault, it is because of their Government not taking action to solve this case.

Talented people will not be able to shine if no one will guide them on how to use their skills or talent, they are doing their best but on the wrong place.

[Cynthia Adoma]

Africa will be a good place for crypto if some issues are addressed.
1)Uninterrupted power supply: This is a major issue in many African countries. Irregular power supply will affect access to Internet. Personally I know how much I spend on gasoline daily just to enable me come online to trade, and do other stuffs.
2) Proper sensitization: For crypto to be accepted and adopted in Africa, proper sensitization must be carried out. This is as a result of the purported idea some persons have about people who are into blockchain. Some think they are into internet scams/fraud. Right now, we have lots of young people in crypto. The elders aren't left out too. Whenever I have the chance, I take my time to tutor those that are interested.
3) Government intervention: If the government will create an enabling environment for cryptocurrency business to thrive perhaps by investing in Bitcoin long term. Perhaps this move could save some African nation from recession.