The used of Bitcoin in Africa

[dificanovi]

in my opinion it is a very good step, the African community will prosper if they all join in trading crypto currencies. with the establishment of a company that supports crypto currencies in the African country it will increase the economy in Africa and will reduce poverty.

[Umkar]

African countries have come a long way in terms of the distribution and use of Bitcoin and cryptocurrencies in general. Bitcoin is really well suited for those who went to another country to earn money or study because it facilitates the transfer of funds between people in different countries, making them fast, safe, cheap and without limits on the amount of transfer.

[Vishnu.Reang]

This is really a good signal for the crypto market when Bitcoin is expanded and used in African countries. This predicts that Bitcoin is developing without borders. The fact that African countries are government Encourage using crypto to reduce the inflation rate such as Zimbabwe. I find this view very smart and wise.

Who told you that the Zimbabwean government is trying to encourage the usage of crypto? This is retarded logic. None of the governments around the world are "encouraging" the usage of crypto. If there is any encouragement, it is coming from the crypto-communities and not from the government. Anyway, crypto-usage levels remain quite low in Africa.

[jak3]

Bitcoins need merchants to accept it as a payment method just like we need oxygen to live. More and more merchants we get in the network the more and more we can defeat the physical currency. It's good to know that Africa is contributing some of its Merchants and taking some amount of risk towards virtual currencies.

[zee11225]

No wonder they are adopting all cryptocurrency in their market they have been doing this for years the only downside on nigera specifically is i have seen people from nigeria posting that they accept a scam coin named "TBC" i think they should remove  this on their market because as what ive read TBC in nigeria is huge

For now, maybe African countries have not become a potential market for bitcoin trading. But for the future I am sure the African continent will become a potential market, because abundant natural resources will be used for the prosperity of its people.
When people in a country have prospered, it means that the purchasing power of bitcoin will be large because infrastructure such as the internet and the mastery of computer technology will become commonplace.

[RodeoX]

Africa stands to gain a lot from bitcoin. They may skip the "bank" phase of economic development and move directly into modern cryptocurrency. Perhaps in the same way they skipped landlines as their phone infrastructure developed.

[BitBustah]

Bitcoin is the last thing that AFricans need, many o them don't even have the technology infrastructure to implement bitcoin payments at stores.  The real problem is the wealth inequality and as long as other countries keep using Africans as cheap labor nothing will change.

[bittick]

Bitcoin is the last thing that AFricans need, many o them don't even have the technology infrastructure to implement bitcoin payments at stores.  The real problem is the wealth inequality and as long as other countries keep using Africans as cheap labor nothing will change.

It is sure the last thing for majority of them if we are seeing how the technology progress there, but it is an undeniable fact that currency in africa, more specifically minor country inflates really bad that people there will always trying to seek something with means to save wealth, that's why sometimes bitcoin is a lot more expensive there.

[drumamat]

it is undoubtedly very good that Africans use cryptocurrencies for different needs.It seems to me that all the methods of using Bitcoin listed by the author of the topic are inherent in all countries.That's just why You did not specify mining?Is this activity not common in Africa?

[cok_elat]

Truth be told, in Africa we see bitcoin as an investment rather than as a medium of payment. So, we acquire it and then wait awhile to resell it like a real estate. In Nigeria, I am yet to see any shop accepting Bitcoin for payment. One has to exchange bitcoin first into fiat before any payment for goods and services.

I think almost all countries except those that prohibit bitcoin, using bitcoin like that, it is very rare that bitcoin is used as a means of payment, only as an investment tool

[BL46K 7193R]

Yes, I know the fact that the use of Bitcoin has increased in African countries and it is increasing day by day. In the case of shopping, now the cryptocurrency is being used in these countries. The amount of exchange between these countries is increasing day by day. Which is a great achievement for Bitcoin. The whole world is coming under the cryptocurrency day by day.

[jonas5222000]

I think Africa was totally great when we say cryptocurrencies because as you can they allow their community to learn and know what is crypto,for me it brings a big part for community in crypto.

[coinnumber]

The invention of cryptocurrencies has done more good to the africa continent as they never take the advance Technology Blockchain for granted. Bitcoin has serve as the latest employment opportunity for most youth in Africa as they engage in trading in various ways. Its a good news and development seeing five Africa countries ranked among the top 50 in LocalBitcoins exchange we hope for more adoption.

[Kensyin]

On the African continent it is very good at taking advantage of technological advancements, including in the area of ​​financial transactions, many Africans are turning to Bitcoin to overcome the limitations of restrictive banking options (money transfers). This is very remarkable in my opinion.

[uneng]

Good for Africa that they are starting using crypto currency in larger sums on the continent, but there is still a long road ahead. African governments are very strict and centralizer, what is a clear signal bitcoin will have issues in being implemented on those countries.
On the other hand, Nigeria is becoming a crypto currency reference in Africa, as most news about adoption are coming from that country. If Nigeria really gets notoriety in crypto space towards Africa, it has great chances in becoming the most influent country of the continent.

[proTECH77]

There are more usage opportunities of Bitcoin in Africa if the African's will stand in one and accept the cryptocurrency to boost their economy and make them buoyant. Africans' problems are from their ground Fathers, hope they will embrace the technology and move faster with the tech for a better eye opener.   

[mayukus4life]

Massive adoption of cryptocurrency in Africa will be a big boost because of the huge population and its exponential growth but governments of various countries are not supportive of this. Africans need to see digital currencies more as a medium of exchange, where it can be used to purchase commodities other than an investment where you buy at low prices and sell when the price goes up. More awareness campaigns are needed in this regard.

[Fred3030]

Without a doubt Nigeria was on the number one list because most of the scammers in the internet are originated from there, it seems that scamming is the most profitable job in their country. I watched a documentary about scammers in Nigeria and they are truly an expert in different kinds of techniques when it comes to fraud that even the government of other country used to believed in those scams.

This accusations of yours is uncalled for and wrong in its entirety, how will you classify a country of over 180 mil people as scam loving individuals, Nigerians are hard working people and can fit into any organisation in any country of the world. Our contributions as a country to the worlds economy cannot be over emphasized both in human and mineral resources. Please, its better to treat issue instead of attacking a whole nation.

That being said, Africans no doubt are fast embracing cryptocurrency in their masses. Lots of Africans especially nigerians has taken crypto trading as a means of lively hood

[mamesso]

Africa has a large community and the adoption of bitcoin is an important part of economic growth there.
I read African users are the 7th largest internet user in the world. this is the main capital to introduce crypto and develop blockchain technology.

[southafricadude]

Bitcoin use is growing fast in Africa, and unfortunately where there is money flowing, scammers are also to be found.
There are LOTS of pyramid schemes and scams using bitcoin. Some of them not even using bitcoin, they just have bitcoin in the name, because people are starting to recognise the name and associate it with making money.
At the end of the day, bitcoin is growing in Africa fast, which is good for everyone