Africa's Bitcoin revolution is rapidly growing

[dupee419]

Coming from Africa, I never would have thought that they'll be making good use of Bitcoin, from a country that has not been fully developed unlike the rich countries, Africa on the other hand is making rapid growth, we all know that they have fully utilized mobile money, they do not only make use of Bitcoin but cryptocurrency itself, I honestly think that with the influence of today's generation citizens of Africa, the continent will continue to develop and probably overcome poverty in the future, I am not african but I definitely am happy that the influence of Bitcoin is making a good chance for them. What about in your country? is Bitcoin creating an influence and change as well in your own country?

source/s: https://www.dw.com/en/africas-quiet-cryptocurrency-revolution/a-55199637

https://bitcoinmagazine.com/articles/how-the-use-of-bitcoin-in-africa-continued-to-grow-in-2020

[bandungan]

I started to see and was surprised when Nigeria started to adopt bitcoin, and then many countries in Africa started using bitcoin and even legalized it. I can't stop thinking if a country in Africa is even first to use crypto. but I am still confused on what basis they use it?

[Obi theo]

Africa,is one places I believe loves to try new things out , and the adore crypto currency to large extent.

[The Cryptovator]

I think they (Africa) took the right decision to adopt Bitcoin. They realized the true value of Bitcoin in my opinion. For a developing country, bitcoin would help their financial ecosystems to improve. The world mobilizing to digitalization, so Africa shouldn't stay back as well. Those country adopting bitcoin and cryptocurrency from the beginning, they will not regret later. But, like my country' those developing countries aren't adopting bitcoin, I am sure they will regret it once a time. They are not moving with the trend.

[DoublerHunter]

~snip~
What about in your country? is Bitcoin creating an influence and change as well in your own country?

^ Since we are freely using bitcoin I would say, it is a lot of changes to those people who had and adopting bitcoin.
However, you know, when the internet came in people are getting more intelligent since they access a lot of data over the internet. Good thing that Africa is now trying to improve their lives by adopting the technology. They will never regret their decision of doing so. I have seen countries that adopted Bitcoin grow. And I hope that this will serve in long term to them and even the same to my country.

[Sirait]

Coming from Africa, I never would have thought that they'll be making good use of Bitcoin, from a country that has not been fully developed unlike the rich countries, Africa on the other hand is making rapid growth, we all know that they have fully utilized mobile money, they do not only make use of Bitcoin but cryptocurrency itself, I honestly think that with the influence of today's generation citizens of Africa, the continent will continue to develop and probably overcome poverty in the future, I am not african but I definitely am happy that the influence of Bitcoin is making a good chance for them. What about in your country? is Bitcoin creating an influence and change as well in your own country?

source/s: https://www.dw.com/en/africas-quiet-cryptocurrency-revolution/a-55199637

https://bitcoinmagazine.com/articles/how-the-use-of-bitcoin-in-africa-continued-to-grow-in-2020

^ Africa is still a continent that is rarely in the spotlight so it is very surprising that there is news that Bitcoin is very much in the spotlight there. whether the news that has been widely circulated and heard so far is true that the spread of technology has not been evenly distributed there?

[teosanru]

Coming from Africa, I never would have thought that they'll be making good use of Bitcoin, from a country that has not been fully developed unlike the rich countries, Africa on the other hand is making rapid growth, we all know that they have fully utilized mobile money, they do not only make use of Bitcoin but cryptocurrency itself, I honestly think that with the influence of today's generation citizens of Africa, the continent will continue to develop and probably overcome poverty in the future, I am not african but I definitely am happy that the influence of Bitcoin is making a good chance for them. What about in your country? is Bitcoin creating an influence and change as well in your own country?

source/s: https://www.dw.com/en/africas-quiet-cryptocurrency-revolution/a-55199637

https://bitcoinmagazine.com/articles/how-the-use-of-bitcoin-in-africa-continued-to-grow-in-2020

I understand that bitcoin is providing a few opportunities for tech-savvy people around the globe including those from Africa. But why do some people consider Bitcoin as a magic wand for eradicating poverty? All these new opportunities of employment in crypto world are just new requirements for skilled people for which they can apply remotely no one is going to distribute free bitcoins in Africa so that everyone gets an equitable income. Moreover much more than Africa I have seen South East Asian countries like Bangladesh, Indonesia and Phillipines taking advantage of this bitcoin revolution as people of these countries are being employed in crypto companies. Can you explain how bitcoin would help people of Africa?

[dothebeats]

Seems like Africa would be one of those regions wherein bitcoin growth would be beneficial since Africans can really use the current state of bitcoin to their advantage, especially in promoting it as an investment, or as an alternative on patments that they are commonly used to. It may not be used to eradicate the plague of poverty but it will surely create financial freedom—or at least close to it—to some of those ‘advantaged’ populations further decreasing the number of poor people in Africa. There is also a potential that these new rich people would create jobs for other people if decide to open new businesses, so it’s a factor to consider, too.

[BIT-BENDER]

Am an African -west Africa, Nigeria- and Bitcoins scales new heights like a top athletes scales huddles In athletics game, in my country, although there are harassment From the police who can't differentiate between crypto-currency and cyber-crimes, Bitcoin is well used/known and has given alternative sources away from crimes for youths in my country.

[Oshosondy]

This should not be so surprising to see Africa growing so much while it comes to using cryptocurrencies as a means of payment, holding and making p2p transactions. Many of the Africa countries find it difficult to pay directly into another country while many comes with high payment fee, that is why many of the countries are now prefering cryptocurrencies as a means to solve these problems, especially because the payment comes with low transaction fees. Despite with the little development in Africa, there is still rapid development in crypto.

[Wysi]

This is a great news and learning curve for other developing nations, Africa is surprising us in more than one way as recently we noticed Nigeria is the second largest users(trade) of bitcoin, we should also appreciate neutrality of the government on crypto related stuffs without which this development will not be possible.

[tabas]

An article was published a few days ago, a country from Africa is the #2 largest market through paxful and other countries from the same continent too has large volume transactions.
Nigeria is now the No.2 bitcoin market on this fast-growing global marketplace

I started to see and was surprised when Nigeria started to adopt bitcoin, and then many countries in Africa started using bitcoin and even legalized it. I can't stop thinking if a country in Africa is even first to use crypto. but I am still confused on what basis they use it?

Registrations and stats through a platform like paxful, you can see it on the article I indicated above.

[Baofeng]

I started to see and was surprised when Nigeria started to adopt bitcoin, and then many countries in Africa started using bitcoin and even legalized it. I can't stop thinking if a country in Africa is even first to use crypto. but I am still confused on what basis they use it?

Yeah, I think it all started with Nigeria, although the continent is really suffering from a lot of economic and financial and government collapses, still they find bitcoin to be a safe haven, just like any countries, for example Venezuela.

and then we have Jack Dorsey magnifying the potential of bitcoin,

https://techcrunch.com/2020/01/05/into-africa-tech-leaders-weigh-in-on-jack-dorseys-planned-move-to-the-continent/

https://www.forbes.com/sites/billybambrough/2019/12/01/jack-dorseys-future-defining-plan-to-bring-bitcoin-to-12-billion-people/?sh=10a9c2564f6f

https://www.cnbc.com/2020/03/05/twitter-ceo-jack-dorsey-reconsidering-africa-move-on-coronavirus-fears.html

[milani]

Coming from Africa, I never would have thought that they'll be making good use of Bitcoin, from a country that has not been fully developed unlike the rich countries, Africa on the other hand is making rapid growth, we all know that they have fully utilized mobile money, they do not only make use of Bitcoin but cryptocurrency itself, I honestly think that with the influence of today's generation citizens of Africa, the continent will continue to develop and probably overcome poverty in the future, I am not african but I definitely am happy that the influence of Bitcoin is making a good chance for them. What about in your country? is Bitcoin creating an influence and change as well in your own country?

source/s: https://www.dw.com/en/africas-quiet-cryptocurrency-revolution/a-55199637

https://bitcoinmagazine.com/articles/how-the-use-of-bitcoin-in-africa-continued-to-grow-in-2020

For lots of us Africa looks like a really technically not developed continent. So why there is so highly growing interest to Bitcoin and cryptocurrency? In my opinion - weaker local currencies that make it harder to get dollars, bureaucracy that complicates money transfers. New generation there is just trying alternative ways that may help to avoid complicated things. Of course it is interesting what is the percentage of the population uses Bitcoins, and what about that part that is without simple things like Internet, computers, gadgets and so on. But it is great that the country is developing in this direction. Some experts are sure that  Africa may surprise us.

[Nikole Fischer]

Yeah, I was really surprised when I saw a post about how in Africa the use of bitcoin grows. It's interesting to follow how bitcoin is developing in countries such as Nigeria, Kenya, South Africa. I would recommend reading about it

[taufik123]

This is an economic revolution supported by revolutionary digital technology. Africa took advantage of this opportunity to adopt bitcoin on a large scale. Individuals and small entrepreneurs in Africa have recorded the most transactions using digital currency or cryptocurrency.

Africa is in a very good condition to take advantage of cryptocurrency, because the African continent has a generation of young professionals who are easy to adapt to new things and aspire to become entrepreneurs. This is what makes digital currencies like bitcoin easy to accept.

The adoption of bitcoin is also due to their local currency being unreliable and hyperinflationary. Cryptocurrency is a better alternative currency than local currency and makes the domestic economic system more developed. One of the popular services in Africa that uses bitcoin as the base currency is BitPesa which can make money transfers internationally at a lower cost.

[Lorence.xD]

Am an African -west Africa, Nigeria- and Bitcoins scales new heights like a top athletes scales huddles In athletics game, in my country, although there are harassment From the police who can't differentiate between crypto-currency and cyber-crimes, Bitcoin is well used/known and has given alternative sources away from crimes for youths in my country.

Glad that you use it for the well being as an individual, but I am sad at the same time that police brutality is very rampant at this day and age. In my country, the good thing about cryptocurrency is that the government seems not to be bothered by this which is advantageous for cryptocurrency users because we have far less to none restrictions that could potentially be a problem for an average user like me.

[pooya87]

Africa is not a poor country, it is just underdeveloped and it isn't because of being poor but because it has been f**ked with for decades that keeps it behind.
In any case I believe bitcoin always grows in third world countries faster than other places because there are usually far less roadblocks in those countries against its adoption. For instance you have to jump through a million hoops in US to buy bitcoin and end up paying a shitton of money to IRS while in Africa you can buy bitcoin a lot easier and not to worry as much about the "tax man" robbing you.

[Mpamaegbu]

I started to see and was surprised when Nigeria started to adopt bitcoin, and then many countries in Africa started using bitcoin and even legalized it. I can't stop thinking if a country in Africa is even first to use crypto. but I am still confused on what basis they use it?

In Nigeria, there are a lot of Forex traders and that's the simple reason cryptocurrency caught on too. We love the smell of capitalism and any country that likes that will always try out new things. It isn't for nothing that the naira (the Nigeria currency) is listed at the Binance exchange. Nigerians dominate that exchange and are trading large volume there. CZ noticed this and quickly took advantage of it. You can say there aren't many online shops accepting Bitcoin in Nigeria yet. At the moment, traders in Nigeria exchange Bitcoin to fiat before use or directly transfer it to exchanges for trading.

[Wingsbtc]

In a country where economy is bad everyone will try as much as possible to find means of survival, I believe that's why most africa countries are giving bitcoin and crypto investment a try, they are even into forex trading too, Nigeria is one country that have bad economy, I'm not surprised that people from the country are into crypto