crypto market has grown in africa

[ektotanes]

It seems to me that Africa has always been interested in crypto. Many people simply have no other choice but to engage in crypto. In Africa, most people do not have access to traditional financial services, and money transfers here are the most expensive in the world.

[Kelvinid]

While reading some articles, Just found the headline "Crypto market has grown in Africa by 1200%". The greatest opportunity for the people of Africa to discover more about crypto and new web3 technology. Moreover, there is a chance that people would also start paying and accepting crypto.

Bitcoin has grown fast and has become legal in major countries. This is an indication that people had already gained knowledge and interest in this new technology, and these merchants will accept Bitcoin as a mode of payment.
Maybe 10 years from now, only a few people will still be using fiat money while the majority are using a cashless system paying with Bitcoin. This is what we called continuous development and would tell us that Bitcoin is not a scam but a kind of useful discovery.

[n0ne]

Amidst the regulations around the African countries the usage and the acceptance of cryptocurrency is quite high in Africa. This is all because of the inflation and people have well understood about the goodness of cryptocurrencies. In one of the African country Nigeria, the government itself launched its CBDC to keep people use the government backed cryptocurrency, and it hasn't gained the good acceptance and usage same as the cryptocurrencies listed on the coinmarketcap. There is high and more real time usage in Africa and that doesn't mean it to be 1200% growth.

[RockBell]

With so many people investing in and believing in bitcoin, as well as so many more spreading awareness of it and accepting it as a form of payment, Africa should be one of the cryptocurrency industry's fastest-growing continents. Of the countries I am aware of, Nigeria and El Salvador have invested in bitcoin as a way to persuade other governments to do the same and stop viewing cryptocurrency as an illegal movement. However, over time and despite government regulations, bitcoin has continued to grow.

[justdimin]

With so many people investing in and believing in bitcoin, as well as so many more spreading awareness of it and accepting it as a form of payment, Africa should be one of the cryptocurrency industry's fastest-growing continents. Of the countries I am aware of, Nigeria and El Salvador have invested in bitcoin as a way to persuade other governments to do the same and stop viewing cryptocurrency as an illegal movement. However, over time and despite government regulations, bitcoin has continued to grow.

Considering the amount of people who could adopt it in a single day, and the amount of people who are so spread out that they could use it as a payment method and something that could bring in so much more money into a whole continent, I feel like Africa should not be considered as a lowkey investment place, but a place that could make this so much bigger.

I think what we need for them is to have a proper famous cashing out thing and that would be a lot better, that could actually help them in the long run. I believe that we shouldn't be really focusing on just making money, it is also about profiting from it by cashing it in every corner of Africa.

[Davidvictorson]

While reading some articles, Just found the headline "Crypto market has grown in Africa by 1200%". The greatest opportunity for the people of Africa to discover more about crypto and new web3 technology. Moreover, there is a chance that people would also start paying and accepting crypto.

This is true, my personal opinion is that 7 in every 10 Nigerians have heard about cryptocurrency and Bitcoin in particular. 5 out of every 10 Nigerians may hold some type of cryptocurrency with Bitcoin being the most popular. The adoption and awareness rate has tripled within the last couple of years and in my estimation there's no slowing down. Sadly we are doing it because we got no other option. The economy is tough, and the people government would not stop milking the economy for their own selfish interest leaving it in shambles. For now, Bitcoin serves more as our store of value, it serves as our hedge against inflation.

In Nigeria, there's is still much work to be done before we start using it as a payment option. Businesses are yet to understand how they could incorporate it. In my estimation, less than 1% of businesses accept payment in Bitcoin. Despite this, I still feel this is encouraging because at least it is better than nothing.