The used of Bitcoin in Africa

[Dinmazsae]

The reality of Bitcoin in Africa is increasing educational opportunities, peer-to-peer cryptocurrency exchanges, knowing this is first hand. They partnered with Zam Zam Water to build a school in Rwanda that was fully funded by cryptocurrency through the BbuiltwithBitcoin initiative. Now, the very well-known Red & Yellow business schools open their doors to cryptocurrency, allowing more people the opportunity to get higher education. While the centralized agency still gives a cold shoulder cryptocurrency, the truth is that Bitcoin is changing lives for the better for many Africans

[Mpamaegbu]

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.

We have been having these kinds of conferences yearly in Nigeria around Abuja, Lagos and PHC. The population keeps growing each time. The blockchain and Bitcoin awareness keeps spreading like wildfire here. The only nag to it is that the Nigerian government isnt yet throwing its weight in support of this. Though they aren't taking any steps to stop us.

[qwertyup23]

This is actually the first step in introducing cryptocurrencies to third-world countries. The only barrier that separates first and third world countries in introducing cryptocurrencies are the opportunity and technology but this article make it possible that they may be start slowly learning about its components.

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

I doubt that they can skip the banking part as fiat is still an essential part of any country's resources. They cannot shift quickly from fiat to cryptocurrencies as the country needs to adapt and improve their technology. But this may be the first step into the ideal future of having a digitalized form of payment.

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.

Any country has the potential for growth but Africa can be the ones who are affected with this kind of change. Introducing this type of technology can create and attract investors.

[steveabrahams]

Wow i don't know african have a big base of bitcoin user. This is a great information to me, i think Online transaction (money transfer) is the biggest reason why there are many people in africa use bitcoin and because of migraters too.

[gilangIDR]

The African country is one of the big market shares, this is because the population is so large. But in the African country the development of technology and infrastructure has been slightly hampered. That makes a delay in the development of cryptocurrencies, it is necessary to increase infrastructure so that the creation of an increasingly cryptocurrencies ecosystem. Trading volume can increase and it can be an indicator that the volume of bitcoin is increasing overall.

[Kelvinid]

The African country is one of the big market shares, this is because the population is so large. But in the African country the development of technology and infrastructure has been slightly hampered. That makes a delay in the development of cryptocurrencies, it is necessary to increase infrastructure so that the creation of an increasingly cryptocurrencies ecosystem. Trading volume can increase and it can be an indicator that the volume of bitcoin is increasing overall.

Getting it hard for the to see huge development knowing how they struggled for economic crisis. We know already the capabilities of their country and so we can't expect of it's immediate response to the needs of the people and it may affect the wide growth of crypto in their country. But I believe there will be a moment that their people will adopt the system.

[Upgrade00]

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.

This is your opinion and I can categorically state, that the state of the economy here is not all doom and gloom. And no, people use banks very actively in Africa. Bitcoin may not 'enhance the lives' of people living in Africa, as it needs Investments. The blockchain if implemented would streamline so many sectors and would facilitate actions which would normally take ages to document.
It would also Improve transparency, and hence reduce corruption.

[ethereumhunter]

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.

Any country has the potential for growth but Africa can be the ones who are affected with this kind of change. Introducing this type of technology can create and attract investors.

Africa can be the next bigger country since I see that Africa has many resources which are not built yet. They need to create something from inside their country and blockchain will be a good sample for them to make better financial. Although the corruptions will be their enemy, by introducing blockchain in Africa, I think it will bring new hope to their people. Maybe they can wake up from the underestimate country to become a growing country in the future.

[kingpin4321]

Nigeria , South Africa and Kenya i have no doubt about that but Mexico and Tanzania there is no way they are on top than Ghana when its comes to the use of bitcoin ,  Even  in Africa most  of the crypto exchange  companies  are in Ghana and Nigeria . But its really  interesting how Africa is adopting  the digital currency  and blockchain  the master technology  behind it. I know Gradually very soon very will see most Blockchain project coming from Africa  to compete the global  blockchain market ..   

Well I think the OP sources his or her facts well and you on the other hand just feel that you are right.
Probably you would be clarified if you can do a good research

[pushups44]

Bitcoin will be embraced by Africa because it's a relatively good store of value in the long run and will facilitate microtransactions once the Lightning Network is ready for mass adoption. States may fear it and thus prohibit it, but they cannot stop bitcoin from being traded anonymously and on the black market.

[MFahad]

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

Africa is an underdeveloped continent and many countries in there face the financial crisis. This will mean that if they introduced and support bitcoin in their economy then it will be very much helpful for them.
Africa can change its fate of they truly implement blockchain and bitcoin in their countries.

[Daniel91]

Many interesting facts, thank you for sharing.
I personally have several friends from Africa and they never used bitcoin.
Why?
Well, they live in rural area of Africa without electricity and with very weak Internet connection.
So, it's very difficult for them even to use Internet so to learn and use Bitcoin is even more difficult.
But things are changing very fast in Africa so I think that soon this situation will change and improve. 

[0t3p0t]

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

Good to hear such news  as African nations has strong and good treatment to Bitcoin. I am very thankful to their government to let their people have financial freedom through cryptocurrency. I am also happy with my country because I am in a cryptocurrency friendly country that does not prohibit the use of Bitcoin but instead made a regulations between local exchanges for a safer and trusted transactions.

[okala]

Africa has being a market place for all foreign and other investors to promote must of the goods, and record has it that African ride the most expensive cars and use the most sufisticated technology, and at that the continent will always embrace a good technology like bitcoin despite the fact that the authorities over their have not really come out to declare they support for the currency. May be they don't even know it exist or just paying deef ears to the presence of bitcoin in the continent.

[MelodicPop]

Jokes aside, like others have said many people in Africa don’t have banks or don’t have the opportunity. But with rising mobile device usage cryptocurrency presents an excellent financial instrument that can help shield people from inflation or corruption. Also even making income from trading to help people out of poverty.

[Nanagyasi]

Africans have embraced cryptocurrency though some countries have won its citizens against cryptocurrency. I have seen several projects which are owned and managed by Africans and that is really good.

[sngwinner]

The idea of cryptocurrency has really grown in Africa.  I have a friend in one African country university and he told me there are several programmes held on their campuz on blockchain and cryptocurrency.

[tunapa]

One of the best place to feed your innovations with people ready to accept and work with it is AFRICA. I can say that Africans are largely using bitcoin in all ways that they can and it’s spreading everyday among them. I am particular  about west  africa, majority of people have identified cryptocurrency as a means to be free from poverty and bondage and they have  keyed into it. I am sure very soon africa  will be one of the largest users of cryptocurrency in the world.

[Cherylstar86]

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

Good to hear such news  as African nations has strong and good treatment to Bitcoin. I am very thankful to their government to let their people have financial freedom through cryptocurrency. I am also happy with my country because I am in a cryptocurrency friendly country that does not prohibit the use of Bitcoin but instead made a regulations between local exchanges for a safer and trusted transactions.

Bitcoin's demand is increasing despite volatility and it's good to know that Africa is open to this new kind of innovation. Having Bitcoin regulated in Africa opens great opportunities for its people and provides quality of living, it would change their way of living. It gives a good and positive impact that would also help attract other countries gain their interest and trust towards Bitcoin and be part of cryptoworld.

[teejayrichard2]

The analysis you have made in terms of bitcoin usage in africa is true especially that of people in Nigeria using it as a means to stay out of poverty. I am a Nigerian and I have seen so many people who are into bitcoin trading and also bounty hunting. Infact, most Nigerian youths who are done with school and are yet to get a good job are either into bitcoin trading or bounty hunting or both just to make ends meet. There are also lots of Nigerians in different parts of the world including other Africans who has left their country to hustle and make money and now with bitcoin they easily send money home instead of usng western union which takes too much time and stress. In the past one year, I have seen lots of shopping been doen with bitcoin online by people too, that shows bitcoin usuage is really growing in this part of the world.