The used of Bitcoin in Africa

[sijonru]

There is no doubt that Africa is doing well in recent times regarding the use of Bitcoin as well as other altcoins. The problem I find is that we on our part are doing very little to the sell the blockchain technology to those who are alien to it. I see Africa as a part of the globe where many countries are struggling to have their fiat currency stable and therefore wouldn't have had a problem using bitcoin. We are on track although but it would be good if we could be a little faster.

In Africa the most important problem is the number of inland areas that have not been touched by the internet, because of the heavy terrain and inadequate level of education. Africa is in the stage of improving development infrastructure towards progress.
So for now bitcoin is not popular in Africa, there are still very few users. But for the long term, for example, ten or twenty years into the future, I am sure that Africa will become a new continent with a good level of growth and advanced people, so the impact of using digital currencies is increasing. Bitcoin will keep up with progress in Africa.

[tranthidung]

In a nutshell, there are some barriers for the growth of crypto in Africa:
- Lack of Internet Connections.
- Low general level of Education.
- Internal conflicts (civil wars, for instance).
- Low level of income and lack of fundamental things of human lives.
However, as the fact of human civilization, where difficulties exist, there also have lots of gains in the future. People have to fight for their lives, and their efforts will make big changes. As the saying goes, "no pain, no gain". I strongly believe that the Africa continent will play important role in the crypto world map in the next coming decades.

[maman567]

Africa still have lower user invest their money in bitcoin, economic crisis make us of them more focus looking real job and left about how to get money with cryptocurrency bitcoin and altcoin, we have promote bitcoin for them.

[Xalata]

Most of the times Africa seems to be behind in all technological advancements but i am glad they have taken steps in adopting the blockchain technology as early as possible. I wish they could tap into the transparency of the blockchain distributed ledger to reduce the level of corruption in some countries.

[BorisWCR]

Bitcoin is really kicking its tail and waggling around the globe. Even the Africa is not letting themselves to left alone in the vast of elsewhere. And now, Bitcoin is widely been used too in the different ways like stated above. This is good to see and I can see that Bitcoin will keep having its way to its future ahead.

[Distinctin]

Bitcoin is really kicking its tail and waggling around the globe. Even the Africa is not letting themselves to left alone in the vast of elsewhere. And now, Bitcoin is widely been used too in the different ways like stated above. This is good to see and I can see that Bitcoin will keep having its way to its future ahead.

There is no hindrance for everyone to adopt in crypto since it's decentralized and we can call this our own, unless your government will ban crypto.
Africa need, to my knowledge they have a high remittance fee but with bitcoin they can minimize it.
In addition, it will help them find opportunity online and accept bitcoin as payment.

[BlackPanda]

Africa is one continent that does have a very large population so that if crypto can be applied properly on the African continent it will grow the number of financial transactions that are so large. But facilities and infrastructure are an issue that must be considered. the fact that the African continent has inadequate infrastructure so that the development process will be hampered. What needs to be done is to improve the existing facilities and promote far wider internet access. The African continent has very good potential if it can be developed regularly and in an organized manner.

[dat.ho12492]

Africa is one continent that does have a very large population so that if crypto can be applied properly on the African continent it will grow the number of financial transactions that are so large. But facilities and infrastructure are an issue that must be considered. the fact that the African continent has inadequate infrastructure so that the development process will be hampered. What needs to be done is to improve the existing facilities and promote far wider internet access. The African continent has very good potential if it can be developed regularly and in an organized manner.

Well, the population in Africa is really huge and if we exploit the use of crypto and bitcoin in this community, this will be a development step for the market but this very simple thought seems impossible because the level of education in Africa is too low, technology and people's access to technology is not too developed. And the governments of African countries are constantly improving this issue, but perhaps we will need a long time to see Africa start using crypto and bitcoin in a common way, the improvement is still too slow

[traderethereum]

Africa could be a good place for the adoption of bitcoin, and there are already store that accepting bitcoin as the payment. The OP gives information about the bitcoin growth in Africa, and that is good because we can see that bitcoin has spread very well in that country. I think soon, all country in Africa will look bitcoin as a new way to help them to make a better life.
Thank you, OP for giving good information about what happened in Africa related to bitcoin.

[chad@seaquake.io]

Are there any popular localized exchanges (created in Africa/HQ'd in Africa) that are facilitating this volume?

[olamidey]

Africa is one continent that does have a very large population so that if crypto can be applied properly on the African continent it will grow the number of financial transactions that are so large. But facilities and infrastructure are an issue that must be considered. the fact that the African continent has inadequate infrastructure so that the development process will be hampered. What needs to be done is to improve the existing facilities and promote far wider internet access. The African continent has very good potential if it can be developed regularly and in an organized manner.

This would be a great boost to Bitcoin and cryptocurrencies if Africa wakes up and gets in fully into blockchain. Already Nigeria is leading the pack in crypto trading and of course blockchain adaptability in Africa and other countries are coming up too. Despite this fact, African governments still see bitcoin has illegal and no regulations or rules guiding it's activities and as a result, it's being labelled scam by mistake government. It's a matter of time, bictoincash will continue to grow in Africa

[Anonylz]

Africa is one continent that does have a very large population so that if crypto can be applied properly on the African continent it will grow the number of financial transactions that are so large. But facilities and infrastructure are an issue that must be considered. the fact that the African continent has inadequate infrastructure so that the development process will be hampered. What needs to be done is to improve the existing facilities and promote far wider internet access. The African continent has very good potential if it can be developed regularly and in an organized manner.

This would be a great boost to Bitcoin and cryptocurrencies if Africa wakes up and gets in fully into blockchain. Already Nigeria is leading the pack in crypto trading and of course blockchain adaptability in Africa and other countries are coming up too. Despite this fact, African governments still see bitcoin has illegal and no regulations or rules guiding it's activities and as a result, it's being labelled scam by mistake government. It's a matter of time, bictoincash will continue to grow in Africa

Not only African Governments sees btc and crypto in general as illegal activities and try as much as possible to restrict it's citizen's from engaging in it, other developed countries also have the same perception, since crypto don't have any regulations whatsoever they don't want citizens of their country to get involve because of their personal interest,

I think the awareness about crypto is increasing in Africa and i believe most major states and cities in each country don't have issue of infrastructure especially electricity so the question of not having access to internet is very minimal, this can only be found in the very remote areas.

[BennyK]

Africa has a great enthusiasm for Bitcoin. The major problem here is that most of the indigenous people lack the basic knowledge in computing, technology and ICT, hence makes it difficult to explain the concept of Blockchain and Bitcoin to them. The elites are however supportive and I believe it will reach a greater spread if Bitcoin ATMs and more crypto community enter Africa. The merchants in Nigeria like the Cofred and Ecurrency4u are doing great work by offering a 24/7 crypto services to users.

[Jackrodwell]

interestingly and surprisingly, African nations are very positive toward crypto and blockchain from the beginning!

Yes "once beaten twice shy" so they say and it's really un beliveable of the turn out of the African nation into crypto industry, this shows that the future is bright for every crypto holder, better days ahead

[waynechong1995]

I believe online shopping still plays a small role here, even the mechanism were there, mindset of many bitcointalk still about getting more bitcoins, not circulating more bitcoins against goods, if bitcoin isn't artificially inflated and couldn't resist pressure then adoption is pretty limited. Its still exicitng to see the small cryptomarket to go mainstream

[Afnan_faizah]

Nigeria surpised me a lot. it is really huge volume comparing it with the rest countries.
Still, I wonder what is real usage of that in Nigeria? Doesn't it look like laundering?

I don't think so, the volume most probably caused by the increasing demand of bitcoin in Nigeria. The landscape of Nigeria made people looking for solution for their transactions. Actually even poor or small country can make huge volume like that if the many of its citizens in invest in bitcoin. I live in indonesia but the volume can't surpass china's bitcoin trading volume because most of indonesian don't know about bitcoin.

[alcoholboy]

Bitcoin's use in Africa has gained tremendous popularity since its inception. Bitcoin is now popular in most of the countries.
Even in Africa, Bitcoin transactions are being used in many areas. For example, to buy shopping, to purchase various fables, Bitcoin is also used in transferring money.
Bitcoin needs to be applied in all countries like Africa.

Thank You

[Astvile]

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

[clarkgeneral86]

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.

[misterj]

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

I truly appreciate your way of sharing knowledge. Knowing this, it boosts my confidence that the crypto market can still be bullish. Because we are talking about bitcoin, majority of the coins will follow its trend and it will all be advertised. With that, I remind you to not only trade in bitcoin but also in other altcoins as well.