The used of Bitcoin in Africa

[Sithara007]

Africa is home to some of the fastest growing economies in the world (South Africa, Gabon.etc) and it will be mutually beneficial if Bitcoin establishes a presence in the continent. Also, the African diaspora is rapidly growing and Bitcoin can help them with money transfers and remittance payments. They can trust Bitcoin more than their volatile national currencies.

[1714829424]

1714829424

[1714829424]

1714829424

[1714829424]

1714829424

[1714829424]

1714829424

[1714829424]

1714829424

[Moshaid]

Africa is a fast rising continent with lot of tech institute bringing in their branches to some specific countries which are massively developing yearly, in as much as lot of people in Africa are still yet to fully understand the main aim behind cryptocurrency, the few ones in it are already making good use of it and spreading awareness in their society. I believe Africa still needs more real time blockchain utilisation to improve the market and the real time usage.

[markgayamo]

Bitcoin in the country like Africa, we all know that this country is poor and one of non economic country but, many of African people are involve in Bitcoin trading and some of them are investors or holders of coins. They join bounty campaigns and ICO programs so that they can get money if that ICO get successful. Imagine you can get coins by participating and doing the task completely and can earn money like dollars or euros. This is a big help for African people and thanks to Bitcoin cryptocurrency.

[krb91]

Africa being a continent plauged by extreme financial stratification knows cryptocurrency will help alleviate poverty. Nigeria being Africa's most populous country has a lot of individuals seeking alternative sources of income, hence, its high number of cryptocurrency exchanging. Bounty hunting for one has become a rather lucrative source of income there. Not to mention those that are interested in investing long term.

[Siren]

Bitcoin in the country like Africa,

First Africa is not a country instead this is CONTINENT that composed of many countries around that continent

we all know that this country is poor

Second Africa is not poor as what you think,maybe it was just being abused and not managed rightfully,but it wasn’t Poor I tell you that

many of African people are involve in Bitcoin trading and some of them are investors or holders of coins. They join bounty campaigns and ICO programs so that they can get money if that ICO get successful.

In all that you have mentioned only this is for me is right and truthful

Imagine you can get coins by participating and doing the task completely and can earn money like dollars or euros. This is a big help for African people and thanks to Bitcoin cryptocurrency.

Not only in African people but for the whole world since not only the third world countries are benefiting here but also those big countries though some of him are hypocrites by not accepting that they are making money here by doing what “poor countries “did as they called

[partysaurus]

Click to Join African bitcointalk community hangout
Countries in the continent africa is embracing the blockchain technology and Bitcoin in their masses. In some countries the government of the day are showing some kind of support or interest fo :)r the new technology while others are advising their citizens not to use the cryptocurrency due to fear of fraudulent activities. I have taken my time, done some research plus the little knowledge I already have, made this thread to highlight the three ways Bitcoin is been used in Africa. They include;

[1]: Trading and investment:
Most citizens of countries in Africa like Nigeria, Zimbabwe, Kanye, South Africa etc have turned to Bitcoin as their recuse from poverty and others to increase their asset portfolio. According to the report carried out in August 2018, five (5) Africa countries where ranked among the Top 50 highest traders of Bitcoin on Localbitcoin exchange namely;
7. Nigeria – $258M
10. South Africa – $98M
23. Kenya – $25M
36. Morocco -- $6M
43. Tanzania -- $2M
Source

Note: This is just a statistics from one exchange, we have numerous exchange both locally and international that Africans are trading on and that's just one of the ways Bitcoin (cryptocurrency in general) is been used in Africa.

[2] Online shopping:
The number of cryptocurrency related online shops is raising daily mostly in South Africa and Nigeria. Africans can now buy goods online from the comfort of their home and pay with bitcoin. Physical store are also joining the party, In 2017 one of South Africans biggest grocery stores called Pick n Pay showed interest in accepting Bitcoin as a means of payment we also have numerous merchant already accepting Bitcoin and few of them can be found here, Merchants Accepting bitcoins for Payment in Africa

[3]: Online transaction (money transfer):
Any one familiar with Africans knows we're migraters, there isn't any part of the world you'll go that you won't find Africans in their number, majority of the times it's the hustle that take them there. Many Africans leave their country for search of greener pastures in Western countries and when they succeed they always struggled to send money back to their families but with the help of Bitcoin everything has changed as sending money is now made easier, cheaper, faster and more secured. The luno wallet/exchange is one of the many platforms used for that purpose as it make it easier to convert Bitcoin to local currency.

If you're a blockchain developer and you were looking for the next regional area to get potential customer for whatever service you're providing I suggest you join the few companies tapping the potential found in Africa.

Here are some useful article you can read to convince you more;
Why Africa Is Fertile Ground for Bitcoin Adoption
Top 5 African Countries That Are Embracing Bitcoin

this was one of the reasons i invested in crypto in the first place, becuse i was told it was one of satoshis visions to level the playing field with a new currency so africa and other poor continents and countries could invest in something new to get a new chance at getting out of poverty.

[MFahad]

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.   

I really impressed with Africa and Africa government is very great, because they do accept the bitcoin, it meant, the government want that their people use bitcoin and crypto currency and promote it and in this wise, the other governments will see it and their learnt from Africa and may be and hopefully they will be do something like Africa's government to allow their people to use crypto currency and earn from it. 

[iamike]

I have always believed that African leaders will embrace this new technology. Digitization unlike the 20th century is gaining a deep root in Africa nowadays. This is not Nigeria, Kenya, South Africa and co are not the only countries. I know a country like Ghana which is advancing in the acceptance of bitcoin.

[hotmom]

Africa is one of the most suitable to show the effect of cryptocurrencies on the economy

[Nnuego]

Africans accepts and adopt to things so easily as far as it's useful and beneficial to her citizens..It's lovely to see Nigerians embracing cryptocurrency and topping other African countries towards investment alhough their government is not really in support of it. That's to show you how Nigerians are in support of crypto to excel

[alexsandria]

Wow! Didn't know about this! I mean it is strange for this continent to have this kind of action but a good thing to know that they did. This will really help them considering their countries didn't have a good condition and having an investment to bitcoin will surely contribute in helping them developed! Happy to see these countries embrace cryptocurrencies! Good luck to them!

[finaleshot2016]

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.    

I really impressed with Africa and Africa government is very great, because they do accept the bitcoin, it meant, the government want that their people use bitcoin and crypto currency and promote it and in this wise, the other governments will see it and their learnt from Africa and may be and hopefully they will be do something like Africa's government to allow their people to use crypto currency and earn from it.  

Actually, the Africa government has done many projects like an adaptation of the use of cryptocurrency, it's a great opportunity for them to take part in this modern technology and market. Countries from 3rd world countries will learn that cryptocurrency will give a boost to their economy. We should be progressive each year, adaptation on what's the modern should be constant because if there's a huge gap, we the people will suffer into this.

Like now, countries like US and China have different payment systems that we should imitate for us to have transactions and negotiations with other people on different countries that will develop our economy.

[OscarDavidson]

Recently I've read an interesting article from Reuters about Bitcoin standing and usability in Africa. A lot of interviewed bitcoin users from the five countries said the cryptocurrency was helping people make their businesses nimbler and more profitable. I think it's great when a digital currency can make your life a little bit easier.

[Nikole Fischer]

It's cool to see how Africa doesn't stand still and tries new things

[Debonaire217]

Africa's use of bitcoin shoot up up to this year than any other country. Mainly because they use it for buying goods. Also, the cryptocurrency in Africa is legal than what other countries offer that they should ban using crypto because of certain things or maybe personal issues of the government. Africa is one of the poor country all over the world yet they are the ones who are embracing the advancement of technology with cryptocurrency so fast. Meanwhile, in Asia still it is not recommended to use it after all.

[yohananaomi]

Africa's use of bitcoin shoot up up to this year than any other country. Mainly because they use it for buying goods. Also, the cryptocurrency in Africa is legal than what other countries offer that they should ban using crypto because of certain things or maybe personal issues of the government. Africa is one of the poor country all over the world yet they are the ones who are embracing the advancement of technology with cryptocurrency so fast. Meanwhile, in Asia still it is not recommended to use it after all.

yes, this is a phenomenal progress that actually occurs in the crypto field, that a country with a majority of its population is still shrouded in poverty but the development of bitcoin is actually accommodated to be used as a legal medium of exchange. For me it is quite surprising because it is clear that poverty can be guaranteed that there will be a gap away from technology, especially with crypto trading in which there is bitcoin which is used as a legal medium of exchange.

Isn't there anything strange has happened with something like this !!! Obviously, of course very confusing, is bitcoin a legal medium of exchange but its use is of course only limited to people who have a lot of money and we know that in African countries many rich people also come from oil mines such as Nigeria, is this one of the things to make it easier or something? other?
can only ask without anyone being able to know ...

[Twentyonepaylots]

I always see African countries pioneering and and publicizing innovative projects like this. They always impress me with the way they work to make money. Africa 's apparent poverty may have catalyzed this drive of people to succeed which in turn directs them to great ways to earn money such as bitcoin.

[Negotiation]

Africa is in a much lower position than other countries because most people in Africa are poor their per capita income is so low that it hinders their development. The use of Bitcoin in Africa will improve their country and meet the needs of the poor by tackling their financial problems. The use of bitcoin in Africa to improve the poor is great as the economy improves, they will be able to meet their basic human needs.

[SmokerFace]

I heard African people are confronting neediness and the enormous measure of individuals are powerless and they're looking for somebody to help them, they don't have anything eat and nothing to wear.
If the government makes a move concerning the utilizing of bitcoin, at that point they can improve their economy in a day's.
Bitcoins can improve destitution individuals are procuring more than their compensations with bitcoin, at that point why government not?.
African government ought to acknowledge the bitcoins and use them to improve the economy.

[Kong Hey Pakboy]

I heard African people are confronting neediness and the enormous measure of individuals are powerless and they're looking for somebody to help them, they don't have anything eat and nothing to wear.
If the government makes a move concerning the utilizing of bitcoin, at that point they can improve their economy in a day's.
Bitcoins can improve destitution individuals are procuring more than their compensations with bitcoin, at that point why government not?.
African government ought to acknowledge the bitcoins and use them to improve the economy.

Based on my understanding, Over half of the nations in Africa are considered the poorest in the world than the other six continents around the world because they have a bad government just like in other developing countries. So it might be the reason why it is impossible for the African government to recognize the uses of bitcoin in their country. However, it is still a good thing that most people in Africa are using bitcoin and other cryptocurrencies that they are into with this technology for them to get out of poverty and have a good life.