The used of Bitcoin in Africa

[angel55]

Nigeria is always fast in adopting and catching up with anything that can increase the standard of living. cryptocurrency has been source of livelihood. crypto has actually put the smile on the face of nigerian than the government. fast adoption has always been because of high internet presence. Nigeria is among top 10 internet users in the world. However, buying goods from local store using bitcoin is one of the challenge. it is very easy to see merchant that accept bitcoin as payment for services but not goods.

They are mostly using bitcoin for scamming purposes, they love that no one can seize their scammed money.  That is one of those countries where people will slit your throat for a few dollars.  I recently saw a video of nigerians burning two men over potatoes.

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[kotajikikox]

Good news and thank you for sharing
The african country well know the importance of bitcoin and they take advantage to grab the opportunity of the blessing of the new technology to go out from the poverty.

This is a proof that bitcoin by the help of new the techonogy possible lives become easy and comfortable using cryptocurrency to buy things via online payment.

[ETHICKNINE]

The news regarding African countries are using Bitcoin is very satisfying what we should consider how they use it whether to so business, To scam, Trading purposes or for any other illegal work because there are many countries that uses BTC for various reasons but when we get to know the reasons by looking and hearing from news it makes very sad because it can only do harm than good for the future of BTC

[ETHICKNINE]

Good news and thank you for sharing
The african country well know the importance of bitcoin and they take advantage to grab the opportunity of the blessing of the new technology to go out from the poverty.

This is a proof that bitcoin by the help of new the techonogy possible lives become easy and comfortable using cryptocurrency to buy things via online payment.

Poverty can be definitely eliminated withing few couple of years if African countries or any other country use BTC wisely with adoption and allowing there people to use it within regulations but the problem is none of them use BTC the right way because most people who use advance technology today have bad ideas specially when it comes to cryptocurrencies and that is why using Bitcoin in the right way is much important if African countries wants to benefit properly from the Bitcoin network

[Olalomi]

Truly the potential of bitcoin had not been fully harnessed in Africa largely due to improper enlightenment,  some  people who had an encounter with btc believed its a ponzi scheme hence disassociated themselves from it while the government had not been helping matters having warn its citizens against using it, while the few who took the bull by the horn have fully adopted it for trading using foreign exchanges are doing excellently well.

[n0ne]

That's good, bitcoin has already reached the African countries. Particularly bitcoin was used by African people for transaction needs on business rather than into trading or into gambling. The major reason is that they cannot carry huge funds due to the inflation of the fiat. Using this as an opportunity some used bitcoin to scam people, and at some point people used bitcoin much more than mpeso which is much used for transaction needs. More good to happen in African countries through bitcoin.

[Eildosa]

Positive attitude to bitcoin in Africa it is already good enough. Even the fact that they have no special means to use it, does not have a bad effect. After all, this is a temporary phenomenon and infrastructure can be developed without problems. The main thing that was desire.

[CryptopreneurBrainboss]

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.

That's why investment and trading is the number way and most famous way Bitcoin is been used in Africa. About the stores, I believe you're taking about physical stores because if you meant online stores then you aren't updated. I have shopped severally frim both Nigerin stores and African stores accepting Bitcoin. The government of the day aren't in support of cryptocurrency yet that's why we don't have any physical store accepting Bitcoin. Everything bitcoin is used for in the country isn't official.

[kelz1]

Africa will benefit the most from bitcoin trading as transparency and decentralisation will remove corruption. It needs to start with the people, their governments will not allow it

[cizatext]

Africa as an undeveloped continent have embraced cryptocurrency and bitcoin as a means of making payments and many African countries government have remain silent on the usage of bitcoin in their country is it that they are not aware of the existence of bitcoin in they jurisdiction or they just decided to remain quite about it. But Nigeria has been the famous among all as it citizens have embraced cryptocurrency as their secondary currency.

[Freny250]

Bitcoin is gradually gaining massive adoption.  Despite the fact that a small percentage of people in africa has the idea of bitcoin with time wgen real usecase projects are being developed its awareness will increase

[wendiar19]

More effective for distributing bitcoin to Africa, it will give more space for bitcoin could development to all country in the world, today only Asian and Europe have accepted and know about bitcoin as transaction and investing, but by used at Africa bitcoin become famous transaction at the next time.

some time ago I read in this forum about the number of cryptocurrency that was adopted in Africa, maybe they also store a very large amount of bitcoin in Africa, maybe there is a more appropriate place to adopt digital currencies.

[Kakmakr]

Africa will benefit the most from bitcoin trading as transparency and decentralisation will remove corruption. It needs to start with the people, their governments will not allow it

No my friend, these countries will never accept Crypto currencies like Bitcoin, because of the transparency. They would much rather create their own GovCoin that are controlled by them and continue with their corruption. The media has been fighting for years to highlight corruption and to bring it to the public, but these corrupt governments are still doing this with zero accountability. <Look at Robert Mugabe and his wife as a typical example>

You cannot use a pseudo anonymous currency to eliminate corruption, because these people will use that to their advantage. 

[benres]

Indeed the continent of Africa and its people are embracing the cryptocurrency technology at an early point of time when bitcoin was introduced in the public. The cryptocurrency enthusiast in Africa are persons who are good in popularizing bitcoin and the blockchain even if the internet system in several countries are not par to other developing countries. Hopefully they will have more faster and stable internet connections soon to more promote bitcoin and the blockchain.

[Lpim01]

Indeed the continent of Africa and its people are embracing the cryptocurrency technology at an early point of time when bitcoin was introduced in the public. The cryptocurrency enthusiast in Africa are persons who are good in popularizing bitcoin and the blockchain even if the internet system in several countries are not par to other developing countries. Hopefully they will have more faster and stable internet connections soon to more promote bitcoin and the blockchain.

We know already what is the situation inside Africa and they are not really improving in terms of financial stability but they are looking to be a part of crypt development. Such a good thing to see how they adopt the new system despite of their struggles but for sure only few of them were making crypto as an investment and many were ignoring these thing.

[Distinctin]

Indeed the continent of Africa and its people are embracing the cryptocurrency technology at an early point of time when bitcoin was introduced in the public. The cryptocurrency enthusiast in Africa are persons who are good in popularizing bitcoin and the blockchain even if the internet system in several countries are not par to other developing countries. Hopefully they will have more faster and stable internet connections soon to more promote bitcoin and the blockchain.

We know already what is the situation inside Africa and they are not really improving in terms of financial stability but they are looking to be a part of crypt development. Such a good thing to see how they adopt the new system despite of their struggles but for sure only few of them were making crypto as an investment and many were ignoring these thing.

Crypto isn't just for uncivilized country nor they are limited of resources, everyone are welcome to be a part of this growing technology.
Yes, they don't have good financial stability to put huge amount in investment but they are looking forward into their success. Maybe this time, we can't see for it huge development but they can acquire it from time to time and when their government will help them.

[kucritt]

i think all of bitcoin user more than 80% use bitocin for trading and investment program, because many people know bitcoin and bitcoin popular because of investment media and the trading media. so we all here hope that in the future we can sue bitcoin and other cryptocurrency as the daily currency that we can use to pay anything in our life`

[Johnzky]

I really love seeing some thread that tackles positivity than the negative effect of crypto specially in countries from the continent of africa in which experiencing poverty but yet come to join the cryptocurrency fever.sometimes i am asking why countries like them are more involved than the bigger ones.they are more supportive than my own country though we have no strict regulations regarding crypto

[johnny508]

This is a result of bitcoins popularity as a great investing commodity because past years Bitcoin was able to make many number of millionaires through investments so even majority of African countries are poor and has no proper IT infrastructure the remaining rich business class minority was  attracted which will do good to the Bitcoin market but if we expect Africa as a region to grow due to such investments it can never happens because without effective expansion among every citizen and adoption Bitcoin cannot do any good for the majority of the country   

[Mpamaegbu]

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.

 This is truth, I think the issue is partly because of the lack of support from the apex bank governor Godwin Emefiele. He has been very critical of the bitcoin and Cryptocurrencies, instead of educating the public about what it's all about, he keeps saying it's a form of gambling. I believe he is been bribed by bank owners in other to keep customers under check.

Honestly, I am not sure Emefiele or anyone at the CBN understands how Bitcoin or the blockchain tech works. You don't give what you don't have. I would've been one of those discouraged with his warning in 2016 if I had paid him any attention.