Trading Bitcoin in Africa Is a Way for Some to Escape Poverty

[Sithara007]

Bitcoin could really change the lives of people in a certain country because of the opportunities that it offers. Africa is one of the neediest countries and it's a good thing that they could consider Bitcoin to eliminate poverty. Despite all the risks, if they will be able to adopt the importance of trading and investing, it will help decrease the number of poor people in their country.

There is a reason why Africa remains as the poorest continent. If the governments want to alleviate poverty, then they need to look in to these factors and do the required. I am talking about overpopulation, ethnic violence, lack of education.etc. Bitcoin may help to some extent. But it will be of little use unless the basic factors are taken care of. What is the point in promoting the use of Bitcoin, if the population doesn't know how to use them?

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[kiki889988]

For Africa, Bitcoin is not just a speculative asset. Africans choose Bitcoin because they want to bypass traditional systems that are only open to a few people. For example, remittance is one of the areas where Bitcoin is most commonly used in Africa, because remittance fees in this region are the highest in the world. Africans who send money back home from abroad are charged an average of 10% of the total remittance as a handling fee, which is twice the charge in South Asia.

[jaberwock]

freelance job that's available in crypto space usually have something to do with technology like programming and there's almost no jobs for doing some tasks offline. I doubt everyone in africa is programmer, it could help the programmers there in africa indeed but that's like only small population of the africa continent overall, honestly I think cryptocurrency there is less impactful that people here seem to pictures.

Well, we are talking about freelance jobs here, that means you can't really have every single job handy and paid in crypto, obviously it has to be something about online world. However it doesn't always have to be programmer, even though that is the most common one, if you go to crypto.jobs and check what people need, you will see there are things like "crypto analyst" , "product manager", "community manager", "social media manager" and many other things, including design as we all know most common freelance trade.

So, basically there are 50+ other jobs you can do online, it all depends on the name of course sometimes it is close to each other, but at the end it is not limited to just coding, it can be anything you want. It still needs to be online, but it could be a lot easier to handle if you do not know how to code and want to learn something else, there are easier to get into jobs as well.

[Mauser]

Bitcoin could really change the lives of people in a certain country because of the opportunities that it offers. Africa is one of the neediest countries and it's a good thing that they could consider Bitcoin to eliminate poverty. Despite all the risks, if they will be able to adopt the importance of trading and investing, it will help decrease the number of poor people in their country.

I agree, it's a great way for people to find job opportunities outside of their own country. There is no language barrier once you learned English and also geographical borders are not going to be an issue as everything is done online. Maybe some special crypto courses for people in Africa could help them to take advantage of the new opportunities.

[bryant.coleman]

I agree, it's a great way for people to find job opportunities outside of their own country. There is no language barrier once you learned English and also geographical borders are not going to be an issue as everything is done online. Maybe some special crypto courses for people in Africa could help them to take advantage of the new opportunities.

Who is going to sponsor these crypto courses? If someone wants to learn a new skill, then all the material is readily available online in YouTube and other sources. The only thing to remember here is that most of the material is in English and therefore they need to have a good command of that language in order to learn the skill. Gone are the days when you had to spend a fortune to get yourself educated. Nowadays a lot of educational material is available for free and all that you need is a 3G connection and a smartphone.

[ene1980]

Bitcoin could really change the lives of people in a certain country because of the opportunities that it offers. Africa is one of the neediest countries and it's a good thing that they could consider Bitcoin to eliminate poverty.

When you talk about eliminating poverty it is a big responsibility, there are places where they do not even get proper water let alone electricity and the gadgets necessary to change their lives. There are people in Africa who would be happy if they get proper water to drink and when we talk about bitcoin eliminating poverty you need to built the infrastructure so that they can use them.   

People having these resources can make money but there are people who are really poor.

[Nhor1011]

If people are wise and open minded, they can earn a descent amount of money though cryptocurrency rather than having a 12hours daily job in a company of others. Trading bitcoin is one of alternative to full time job if you are going to learn it. It gives you profit and you are the boss, you hold your time, you can trade anytime which is convenience to you while staying at home.

I know at this current generation almost everyone even the poor already knows how to use cellphone and other gadgets. It's not difficult for them to learn how to trade cryptocurrency in order to earn money. Young people on this generation is very familiar with the new technology like computer. For the capital, if they know how to trade they can start even a small amount of capital.

Trading and investing in bitcoin and other digital currency can truly help us change our life and way of living.

[naikturun]

it will be difficult because they are not familiar with it even some don't know about reading and writing.
so this idea took a long time to implement.there may be an easier way besides that.
crypto is also high risk they cannot avoid it if want do that.

[Samayuki]

For Africa, Bitcoin is not just a speculative asset. Africans choose Bitcoin because they want to bypass traditional systems that are only open to a few people. For example, remittance is one of the areas where Bitcoin is most commonly used in Africa, because remittance fees in this region are the highest in the world. Africans who send money back home from abroad are charged an average of 10% of the total remittance as a handling fee, which is twice the charge in South Asia.

Mate I'm from Africa and people around me that are into crypto choose crypto to make money, they have no problem with traditional system at all, infact when when they get some good ROI they have to convert to fiat, straight to the bank, africans are into crypto to escape poverty for real

[GideonGono]

I think it isn't just in Africa maybe it is also happening in other country as well.
Bitcoin gives hope to people some of us in crypto are a full time earner and due to pandemic the number of full time earner could also increased.

[error08]

For Africa, Bitcoin is not just a speculative asset. Africans choose Bitcoin because they want to bypass traditional systems that are only open to a few people. For example, remittance is one of the areas where Bitcoin is most commonly used in Africa, because remittance fees in this region are the highest in the world. Africans who send money back home from abroad are charged an average of 10% of the total remittance as a handling fee, which is twice the charge in South Asia.

Mate I'm from Africa and people around me that are into crypto choose crypto to make money, they have no problem with traditional system at all, infact when when they get some good ROI they have to convert to fiat, straight to the bank, africans are into crypto to escape poverty for real

It's happening all over the world, not just in Africa as the bitcoin price tend to increase and people could make profits by trading bitcoin, especially in developing countries in Africa. The standard of living of people varies depending on the area of residence as well as the cost of living in several countriesy that are cheaper than living in developed cities or countries in Asia, Europe, and America.
https://internationalliving.com/the-cheapest-places-in-the-world-to-live/

[mezzaluna]

Bitcoin having humanitarian qualities and helping the poor, is one of its most neglected and underappreciated aspects.

ICOS were not perfect by any means. But they did allow the poor access to accredited investor level opportunities.

Part of the crypto worlds success is due to it opening doors and giving opportunities to the poor, they might otherwise never have.


 

Its truly a blessing in disguise on what Cryptocurrencies has given to everyone who can have access to it. Its easy to learn and easy to use since all you have to do is read and understand the necessary steps to gain Cryptocurrencies. Its still sad that not everybody in the world is not knowledgeable regarding about it but Africans are really great at finding ways on how they would get on with their life. Cryptocurrencies also gave me along with my other friends the opportunity to have another income generator even though we are just students which is really great.

[vintages]

"Bitcoin having humanitarian qualities" 
This is the most beautiful features of Bitcoin that many hasn't realised yet.

And the good thing is that, it's not only in Africa but in every developing countries. Most people have made good living from it. The case of Zimbabwe is a good example but still its unfortunate many haven't heard of it in remote towns.

[Sithara007]

I think it isn't just in Africa maybe it is also happening in other country as well.
Bitcoin gives hope to people some of us in crypto are a full time earner and due to pandemic the number of full time earner could also increased.

All that is true, but the government reaction is also going to be important. Take the case of India for example. They have made the ownership of cryptocurrency a criminal offense. In such cases, the citizens won't be able to benefit from crypto. On the other hand, we have countries such as Japan and Germany which have adopted a far more friendlier stance towards cryptocurrency. Obviously the citizens in these countries are going to benefit in the long term. Now many of the African countries don't have a well defined stance towards the legality of cryptocurrency, and it will be interesting to note in which direction the governments will move.

[Coyster]

Bitcoin having humanitarian qualities and helping the poor, is one of its most neglected and underappreciated aspects.

It is prolly underappreciated cause it's not one of Bitcoins core qualities and also because there is no guarantee of success for people who want to trade or speculate with Bitcoin to escape poverty, they could still prolly lose their funds, most likely loans or borrowed money, since the thread is about the 'poor'.

Bitcoin as a currency is used by quite a lot of people for one distinct reason or the other, but what one can categorically state assuredly that users of the network are bound to be privileged with control of their funds, freedom from third parties and manipulation, the responsibility of being their own bank etc, this are some of the guarantees (core qualities) on the network, getting rich is also quite a big possibility, though if that quality is mentioned to newcomers, it's often misunderstood as a get rich quick scheme, which prolly causes them to make mistakes, that could be why that aspect/quality of the network is somewhat 'neglected'.

[Text]

When I used to search for countries where most people use or adapt Bitcoin/cryptocurrency, there are articles that include African countries and one of which is South Africa. It is good to know that some of them are successful in using it to escape poverty. We do not even know what these sectors are but hopefully, this includes the unemployed. We know that there are many reasons why a person is unemployed. And Bitcoin and cryptocurrencies really help a lot of people with this kind of status in life especially as they strive to study and learn.

[virasisog]

For Africa, Bitcoin is not just a speculative asset. Africans choose Bitcoin because they want to bypass traditional systems that are only open to a few people. For example, remittance is one of the areas where Bitcoin is most commonly used in Africa, because remittance fees in this region are the highest in the world. Africans who send money back home from abroad are charged an average of 10% of the total remittance as a handling fee, which is twice the charge in South Asia.

Mate I'm from Africa and people around me that are into crypto choose crypto to make money, they have no problem with traditional system at all, infact when they get some good ROI they have to convert to fiat, straight to the bank, Africans are into crypto to escape poverty for real

Same here in the Phillipines, however, not all poor people have access to cryptocurrency and not everyone is tech-savvy. Bitcoin allowed people to get involved in trading and be a retail investor, but the risk is high and it is not guaranteed money. The opportunity to earn could be enticing but the risk can also be futile. As time passes people who are getting involved in crypto is growing, the numbers of people adapting increases. Cryptocurrency provided additional opportunities to people to earn and be involved in other projects.

[AngelaT34534]

In Africa, where inflation rates remain high, Bitcoin may be an alternative to regional currencies. The policies consistently pursued by the African Central Bank have weakened the purchasing power of citizens. Therefore, Bitcoin will provide Africans with a choice as a means of store of value.

[ultrloa]

For Africa, Bitcoin is not just a speculative asset. Africans choose Bitcoin because they want to bypass traditional systems that are only open to a few people. For example, remittance is one of the areas where Bitcoin is most commonly used in Africa, because remittance fees in this region are the highest in the world. Africans who send money back home from abroad are charged an average of 10% of the total remittance as a handling fee, which is twice the charge in South Asia.

Mate I'm from Africa and people around me that are into crypto choose crypto to make money, they have no problem with traditional system at all, infact when they get some good ROI they have to convert to fiat, straight to the bank, Africans are into crypto to escape poverty for real

Same here in the Phillipines, however, not all poor people have access to cryptocurrency and not everyone is tech-savvy. Bitcoin allowed people to get involved in trading and be a retail investor, but the risk is high and it is not guaranteed money. The opportunity to earn could be enticing but the risk can also be futile. As time passes people who are getting involved in crypto is growing, the numbers of people adapting increases. Cryptocurrency provided additional opportunities to people to earn and be involved in other projects.

Not all have access it's because it has lack of education on what is bitcoin and how they can use it, also the additional factor which can make people dismay about that is those scams where many get affected and so they are feel like they will get scam to if they will try this type of investment. But it's good thing bitcoin get a good adoption right now since by that it can lessen the doubts of people to try this one and also they might get a good insights with the people who try this and earn a fortune by using bitcoin.

[TheGreatPython]

Bitcoin having humanitarian qualities and helping the poor, is one of its most neglected and underappreciated aspects.

ICOS were not perfect by any means. But they did allow the poor access to accredited investor level opportunities.

Part of the crypto worlds success is due to it opening doors and giving opportunities to the poor, they might otherwise never have.

It’s good that a lot of people around the world and in Africa are considering trading cryptocurrency as a skill that is worth learning. There are high rates of unemployment and I don’t think this is the time to be relying and hoping on education, because you can go to school and graduate and your certificate won’t get you any single job.

So, it is always best that you learn some skills that will help you, even as you’re going to that school you can still be profiting from your skills and before you know it you have even created a whole company from your skills before graduating and wouldn’t have to be looking for jobs.