The used of Bitcoin in Africa

[XCANA]

This is a great community service the fit to talk section dedicated to Africans
Africans comprise a huge number in the forum and they are fast getting involved in cryptocurrency with high level of youth

The population of Africa continent is big and hoping the crypto-community can look into this great potentials from Africa. In Africa we have youths who are seriously engaging themselves day by day with cryptocurrency forums and getten to know more of it operations. Am proud to be from Africa the most reserve potential resources on the planet earth.

[YOSHIE]

A good and positive thing, about Bitcoin users in Africa today, I also think positively about this news,
in another discussion on Bitcoin in Africa, there has been a very good increase in education and cryptocurrency this year, with very limited economic and educational conditions, bitcoin is a good alternative in Africa, this is what the world in particular in the crypto sector is concerned about Bitcoin.
In the meantime it still gives a very positive thing for cryptocurrency.
In conclusion: Bitcoin can change the economy and the special life of this African community the best.

[TheCoinGrabber]

LOL, Nigeria on top. Well, gotta find a way to move around all that money.

But talking about Africa in general, it's easy to see why they are embracing Bitcoin. A large portion is still unbanked and since the telecom industry was slow to build phone lines, they transitioned rather quickly to mobile. Dealing with money digitally has become natural.

I believe there are also charities using bitciins to send donations so that gave people more incentives to use it themselves. They can just ask to be sent the donation in bitcoin and keep some for holding.

[oceantiger]

In Africa, some of the government knows next to nothing concerning blockchain technology and Bitcoin. They are always seeing the transaction involving bitcoin as a scam and ultimately an economic crime. Their citizens dealing with bitcoin are doing so at their own risk. I think the first point of call is for the government to acknowledge bitcoin and legalize the usage in their economy.

[Johnzky]

Nice to know that Africa is involved. While Europe and USA are busy with political matters Africa is gaining power which is great. I foresee some really good projects there.

Africa needs everything that will help their economy grow and they saw the potential of cryptocurrency tp favor their needs,and i am happy how the government of africa gives opportunity for the people making some profiteering as longs it was legal and not poviding issues towards them

[pat4cryptoreal]

In Africa there have being a high level of inequality in terms of financial distribution and circulation, also high charges from the traditional banking system. The whole continent is embracing bitcoin because it is the surest ideology that will solve some of this problems. 

[capableuwa1]

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.

Well I agree with this. Bitcoin have been rampant in Africa in General especially West Africa and South Africa Countries. In Nigeria, an online shopping company like Jumia, Konga and many others once accepted Bitcoin as mode of payment. Also in some popular Cities in Nigeria like Abuja and Lagos, I have also seen some buying and selling of landed property were Bitcoin were deployed as the means of transactions. And recently I heard South Africa have launch a Bitcoin ATM. So we are still Developing and hopefully it will continue to circulate and gain more adoption.

[capableuwa1]

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.

Well I agree with this. Bitcoin have been rampant in Africa in General especially West Africa and South Africa Countries. In Nigeria, an online shopping company like Jumia, Konga and many others once accepted Bitcoin as mode of payment. Also in some popular Cities in Nigeria like Abuja and Lagos, I have also seen some buying and selling of landed property were Bitcoin were deployed as the means of transactions. And recently I heard South Africa have launch a Bitcoin ATM. So we are still Developing and hopefully it will continue to circulate and gain more adoption.

Here in Abuja Nigeria Bitcoin has been known and adopt by the elite. In 2017 November 23, I went with a friend who bought some landed property with Bitcoin, also, Bitcoin ATM machine has been installed in central area district in Abuja which I personally used for Bitcoin transaction. You equally buy and sell Bitcoin at Wuse Market in Abuja. Guys if you no know road make we show you road ehh.

Wow, this is Good to hear. I am aware of the Buying and Selling of Bitcoin at Wuse Market here in Abuja but haven't seen BITCOIN ATM Machines like you claim here that are already installed in Abuja Nigeria. You can send the exact location here or inbox or you can help with the picture of the ATM also. Don't just come here and write what doesn't exist yet or what is in the plans. I only know of Bitcoin ATM in South Africa and none in Nigeria.

[rodel caling]

Truly right bitcoin is very important in Africa because of digital currency the economies of Africa are goes uprise helping from their people to give decent income and it's been a year ago discussing about how much bitcoin important in Africa.
And yes the mass adoption and support from the different country are continue because they understand well how bitcoin important came from the new technology.

[abojamal]

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 for 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

Statistics show that 40% of the world's population do not have bank accounts and are therefore barred from all financial services
Most of these are from the continent of Africa and some countries of Latin America and Asia
So I think CRYPTO will have a great future in Africa but the idea has to be published
This is a big challenge.

[arnelandvik]

oh, these figures look very promising, taking into consideration the fact that these statistics don't cover the whole picture

[muratsink]

I think Africa has great potential to be a country with good crypto growth. I see today, many projects that introduce crypto for Africa. real estate for Africa, economic assets for Africa, and transaction platforms for Africa.

this is very significant growth, but I'm not sure if Africa will defeat Japan, China, and South Korea.

[Choyor]

Yes, I read a number of articles about this, in several countries in Africa realizing the importance of cryptocurrency in their business and encouraging cross-border trade and payments. But in Africa itself Bitcoin is not a currency but as an asset and investment, there are no shops or shopping centers that involving Bitcoin so that they must first exchange cryptocurrency into real money

[maemunah]

For your interest in Africa crypto.
There is an article on Africa Blockchain Conference in 2019.
https://cointelegraph.com/press-releases/big-names-take-to-the-stage-at-the-blockchain-africa-conference-2019
Hope it helps, OP.

in the African financial and economic crisis for me if there is already enough bitcoin to improve in Africa and Africa can be a continent not inferior to America and Europe and Asia

[Sandus_Cryptolover]

The African countries especially Nigeria taking the lead in accepting Bitcoin. It is quite unfortunate that no merchant would trade his/her goods for Bitcoin, in short they don't want to hear about it as sometimes ago, the government tried to scare people away from Bitcoin trade as it was termed scam. Thus the use of Bitcoin in Nigeria has been based only to online transactions and should cash is needed, Bitcoin has to be traded for Fiat via Luno or LocalBitcoin.

[EriksonPartners]

I think bitcoin can really enhance the lives of people living in Africa. I mean, their overall economy is terrible and people don’t really use banks there much. But with bitcoin, they can just skip the banking part. There are also many blockchain events where people can learn about the ways on how to use crypto in Africa

[Malam90]

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 for 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

On your LocalBitcoin's statement, it is clear that Nigeria is the top used Bitcoin country in Africa. South Africa is the second position in Bitcoin trade and transaction on the basis of localbitcoin information. Africa is going ahead to the use of bitcoin rapidly. Maximum African countries are still far behind in Bitcoin so Bitcoin related persons should come forward to the engagement of that countries.

[steampunkz]

I don't know if this is true but this is only my opinion. People from Africa are more unto bitcoins because they are one of the poorest countries in the world. Plus BTC has been created some years ago with its only low prices or its literally free that day! And pretty sure there are people from there have bought and hide there BTC. I am pretty amazed by how people there adapted BTC in a major location of Africa.

[audaciousbeing]

Most citizens of countries in Africa like Nigeria, Zimbabwe, Kanye, South Africa etc have turned to Bitcoin as their recuse from poverty a

While its worthy of note to appreciate the effort you have made in coming up  with the statistics and also making the effort to change the narrative of some people that Africa is still far behind in the area pf adoption of blockchain and its accompanying products, it will also be over reaching to conclude that most citizens of the countries you listed are now turning into crypto because that is going to be a false representation. Yes the penetration is growing but the truth is, its not enough to classify as most because the technological push and the legal framework to push for such qualification is practically non-existent. May be in the next 5 to 10 years we can say ''much more people...''

[gesdan]

we know that bitcoin is popular currency, i hope that it will more popular and more popular until all people in all country in the world can use bitcoina s their currency and it will makes the bitcoin and cryptocurrency become the global stable currency