Did you think Africa could lead the next Bitcoin Wave

[VivaMan]

African's could lead the next Bitcoin Wave, but for me I think it will be under probability. Although African's dey really play big role.
I want to briefly analyze with some specific reasons
1. Large population
Thousands of Africans still dey lack access to traditional banking services due to their capability. Bitcoin only requires a smartphone, good Internet connection, and a wallet. e go make things easier for people to join the digital economy without a bank account.

2. Expensive Mobile phone Usage
Africa people really get very strong mobile adoption. This don make the mobile money systems believe strongly saying  African's can quickly adopt digital finance solutions. Bitcoin  builds a ground  foundation for savings, international transfers, and payment.

3. Currency problem and inflation
For some countries, local currencies dey lose value easily. In that way,  some people quickly turns to Bitcoin as plan B to store their value. examples Kenya and Nigeria.

  Conclusion
Africans no go fit dominate Bitcoin because of wealth, but because of necessity. In place we're be say  traditional financial systems disappoint many people switches to Bitcoin as an alternative way out of payments and savings.

[Mate2237]

Just as you have rightly put it Africa actually have what it takes to dominate the Bitcoin market but the truth is that we are not ready as a continent. Most African countries are still considering about making crypto currency legal, before Africa can be thinking about leading the next Bitcoin wave then the right atmosphere and environment most be set in place. Africa has the population and the potential is there to make this happen but government acceptance is one thing that will determine how whether this will be possible.


Africa is among the nations that has the highest Bitcoin adoption in the world but we are still far from achieving real ter Bitcoin adoption. This is because even though adoption rate is increasing the  practical use of Bitcoin in the everyday market is very limited. The use of Bitcoin is mostly used for online purchasing we have not translated this adoption into real world use.

[Frankolala]

How many Africa countries don create Bitcoin reserve. All these na the questions wey you go ask yourself because na government involvement go make the citizens get more confidence on Bitcoin and adopt am. But when government no show any interest some people wey na only wetin government dey part of them see as legit, those people sef fo fit investing in Bitcoin but for now such people no go try am at all because them still no get the confidence in Bitcoin but our youths dey try Sha for the crypto space.

[Hypnotizer]

1. Large population
Thousands of Africans still dey lack access to traditional banking services due to their capability. Bitcoin only requires a smartphone, good Internet connection, and a wallet. e go make things easier for people to join the digital economy without a bank account.

Are you sure Africans still lack access to banking services? Not transitional banking tho but I think Fintechs have taken over, as far as people are having access to mobile phones and good internet connections as you mentioned then they have direct access to Fintechs and I see most villagers use the likes of Opay and PalmPay or Moniepoint nowadays.

Right now that gap has been closed as far as I know right now in Nigeria, villagers or people living in the city they all use those fintech, so every body has access to banking system and I’ll tell you Africans will trust fintech more than bitcoin because of their mentality.

Thus this point isn’t valid at this moment in time but maybe in the future it might change..

[Agbamoni]

The currency value is the problem. By population, Africans will have more adopters and lead the next Bitcoin wave, but by currency value, we will have a setback. One investor in a country like the US, UK, or Canada, for example, can invest millions of dollars due to how high the currency is, while in Africa, most investors could afford to invest some millions of Naira, which may not equate to $1 m. Let's use the US Bitcoin reserve as a typical example. Compare the amount in the US bitcoin reserve to other countries that joined in holding Bitcoin as a reserve.

[Mia Chloe]

~snip

Buying and owning a lot of expensive mobile gadgets has almost nothing to do with economic influence on a general scale positively. First let's narrow it down, for a country to matter economically on a global scale they first need a fine economy and a solid GDP. Investing has to be at the very least up to a decent level.

Currently Nigerian barely even venture our stock market we are just around 30% in interest and investment or even slightly below that. They also need to have regulations that will favour crypto or affect it in the first place.

[riscohen4]

Africa will definitely lead the next wave of Bitcoin as it's adoption is not based on hype but necessity. Inflation eating deep in their local fiat currency. That alone can make the ultimate and quick shift into the Bitcoin ecosystem.

With the rising use of smart phone and the easy buying of Bitcoin, you would definitely witness the growing adoption of Bitcoin. Africans young population is giving the adoption of Bitcoin a sizable edge and it's a very good thing.

Africans adoption of Bitcoin is as a result of survival, investment, financial freedom, cross border payment. As you can see all this are necessity not hype.

[SatoPrincess]

E dey possible but before that one go fit happen, a lot of things go need to change. The rate of poverty and unemployment for African countries go first need to reduce, our production go also need to increase and government go need to find ways to make trades across Africa easier. If we don fit get these areas right, we go fit see a shift in bitcoin adoption for Africa.

[Cryptomultiplier]

Right now, Bitcoin is leaning more towards institutional adoption rather than retail adoption and that makes it harder to hold Bitcoin as a means to get wealth in this continent where inflation is biting hard on the economy and the market keeps dipping.
The only selling point that makes it more adopted in this continent would be the digital gold perspective and across border payments solution that Bitcoin and crypto currencies appeal more to, otherwise, using Bitcoin or cryptocurrency as a payment option for most businesses in this continent is a red flag that could bring monetary agencies tearing down your door at night to question you on how you came about your Bitcoin holdings.

When African countries begin to have president or heads of state that support technology advancement and adoption of cryptocurrency is when the continent of Africa would be a top leader in Bitcoin adoption and use case scenario.

[Franklyn-wood]

E dey possible but before that one go fit happen, a lot of things go need to change. The rate of poverty and unemployment for African countries go first need to reduce, our production go also need to increase and government go need to find ways to make trades across Africa easier. If we don fit get these areas right, we go fit see a shift in bitcoin adoption for Africa.

Wetin you talk na true. Many people wey don hear about Bitcoin want invest inside am, but when them never chop bellyful, how them go take out money inside investment wey go take some years before e go ripe to collect. So na this things dey make am dey like say him no dey work for Nigeria. If better work dey and people dey see money chop well, them go fit save enough money to take do investment.

[Mr_Brilliant$]

How many Africa countries don create Bitcoin reserve. All these na the questions wey you go ask yourself because na government involvement go make the citizens get more confidence on Bitcoin and adopt am. But when government no show any interest some people wey na only wetin government dey part of them see as legit, those people sef fo fit investing in Bitcoin but for now such people no go try am at all because them still no get the confidence in Bitcoin but our youths dey try Sha for the crypto space.

Government adoption na one of the biggest factors wey fit push the next major Bitcoin wave for Africa.. Once government begin hold Bitcoin as reserve asset, create clear regulations, or openly support the industry, plenty citizens wey still dey doubt am go gain confidence to enter…

We don see am for many sectors. When government support a new technology, banks, companies, investors and institutions go follow.. That kind confidence go spread fast pass individual adoption alone..
Although young Africans don already dey lead for crypto usage and Bitcoin awareness, but government involvement fit take adoption to another level entirely..

[EluguHcman]

African's could lead the next Bitcoin Wave, but for me I think it will be under probability. Although African's dey really play big role.

Why do you have to be arguing yourself by yourself? Your approach felt like you came across the news somewhere else which later on is subjected like you are speculating the news yourself but yet you are objecting it with the probability like you are quoting the information.
Well I don't have problems with that as it is obvious that you are only exaggerating

I want to briefly analyze with some specific reasons
1. Large population
Thousands of Africans still dey lack access to traditional banking services due to their capability. Bitcoin only requires a smartphone, good Internet connection, and a wallet. e go make things easier for people to join the digital economy without a bank account.

2. Expensive Mobile phone Usage
Africa people really get very strong mobile adoption. This don make the mobile money systems believe strongly saying  African's can quickly adopt digital finance solutions. Bitcoin  builds a ground  foundation for savings, international transfers, and payment.

3. Currency problem and inflation
For some countries, local currencies dey lose value easily. In that way,  some people quickly turns to Bitcoin as plan B to store their value. examples Kenya and Nigeria.

  Conclusion
Africans no go fit dominate Bitcoin because of wealth, but because of necessity. In place we're be say  traditional financial systems disappoint many people switches to Bitcoin as an alternative way out of payments and savings.

The evaluation of Bitcoin regional adoption does not seem to be considered based on the populations of continents nor sole country (region).
Although Asian might be the most populated continents which they have also been signified as the most Bitcoin and crypto adoptors which I believe what gave them the advantage is their level of exposures to digital technologies just as you have referred to the Africans.

To tell that it is not about the rate of populations that pulls the wave of adoption of the cryptos, you must realize that African is the second most populated continent after Asian but yet the Africans is at the rate of 5-6 in position of the world crypto adoptors which Nigeria is the ego of the Africans in this race.

To an extent I am convinced that populations give the competition the advantage while the development and regulatory states of policies of the regions have the strongest role to encourage adoption.

In fact given the African (Nigeria) a benefit of doubt in regards to their influence in the Bitcoin and crypto industry, they already have the capacity the potential to pull Bitcoin and crypto wave.

[Moreno233]

Africa have great prospect in Bitcoin as shown in the rapid increase in Bitcoin awareness and adoption across Africa. In numbers, Bitcoin users are in steady rise which is something magnificent, the only aspect missing is big capital entry into Bitcoin. This is something that is lacking as many big capitals in Africa invest more in real estate, energy and others. Bitcoin is yet to have a good share of African capital, majority of holders are individuals and this will make it extremely difficult for Africa to catch up with the West.

[Byebyebtc]

African's could lead the next Bitcoin Wave, but for me I think it will be under probability. Although African's dey really play big role.
I want to briefly analyze with some specific reasons
1. Large population
Thousands of Africans still dey lack access to traditional banking services due to their capability. Bitcoin only requires a smartphone, good Internet connection, and a wallet. e go make things easier for people to join the digital economy without a bank account.

Large population is only a valid reason when the information about Bitcoin is known and accepted,
As it stands a high population of individuals in Africa are not digital educated as a result of lack to access of digital education and technology. So I'm a populated content only few percentage will have access to own or influence Bitcoin except something changes, except government invest in proper enlightenment and empowerment to digital development

[Donneski]

As Africans, we've actually come a long way in Bitcoin adoption and when it comes to potential, Africa does has the all it takes to significantly contribute to the next Bitcoin wave but having big population alone isn't just enough.  More Africans need to be sensitised about Bitcoin and we'll also need improved internet access which is very limited to most parts of the continent at the moment as well as stable electricity.

If these things I mentioned can be significantly improved, then it's very possible that the conditions you mentioned can make adoption grow much faster than many people expect.

[Mate2237]

How many Africa countries don create Bitcoin reserve. All these na the questions wey you go ask yourself because na government involvement go make the citizens get more confidence on Bitcoin and adopt am. But when government no show any interest some people wey na only wetin government dey part of them see as legit, those people sef fo fit investing in Bitcoin but for now such people no go try am at all because them still no get the confidence in Bitcoin but our youths dey try Sha for the crypto space.

you are right for a start how many African countries actually have Bitcoin reserves, we are still far from it as a continent we are still struggling about making Bitcoin a legal tender in most African countries. The truth is are very far from leading the African prospect  when it comes to crypto currency.we are not yet ready because most African countries are just looking for a good job.


Before we can talk about leading Africa in crypto we should look at making sure that the right environment has been set in place. The truth is that this threads should be seen as a wake up call when it comes to crypto currency, we as a people will just has to wake  and take responsibility moving forward.

[SatoPrincess]

The truth is are very far from leading the African prospect  when it comes to crypto currency.we are not yet ready because most African countries are just looking for a good job.

Before we can talk about leading Africa in crypto we should look at making sure that the right environment has been set in place. The truth is that this threads should be seen as a wake up call when it comes to crypto currency, we as a people will just has to wake  and take responsibility moving forward.

Your point about individuals taking responsibility make sense, people need to learn how to do their own own research but for this context that one no fit make the kind impact way government regulation and infrastructure go fit do. Wetin go fit push Africa go forward for the crypto space na still government no be individuals.

African's could lead the next Bitcoin Wave, but for me I think it will be under probability. Although African's dey really play big role.

Why do you have to be arguing yourself by yourself? Your approach felt like you came across the news somewhere else which later on is subjected like you are speculating the news yourself but yet you are objecting it with the probability like you are quoting the information.
Well I don't have problems with that as it is obvious that you are only exaggerating

I believe that’s what they call critical thinking.

[Princess Leah]

Just as you have rightly put it Africa actually have what it takes to dominate the Bitcoin market but the truth is that we are not ready as a continent. Most African countries are still considering about making crypto currency legal, before Africa can be thinking about leading the next Bitcoin wave then the right atmosphere and environment most be set in place. Africa has the population and the potential is there to make this happen but government acceptance is one thing that will determine how whether this will be possible.

Africa is among the nations that has the highest Bitcoin adoption in the world but we are still far from achieving real ter Bitcoin adoption. This is because even though adoption rate is increasing the  practical use of Bitcoin in the everyday market is very limited. The use of Bitcoin is mostly used for online purchasing we have not translated this adoption into real world use.

We might have what it takes in number but how many people are well knowledge about Bitcoin should be the question, a large population of Africans don't even know how to operate smart phones without a third-party, don't understand Bitcoin,  some are still skeptical cause they see it as a threat like ponzi, so we have a long way to go.

 More people need to be educated before we could achieve top tier Bitcoin adoption, and it's not only about adopting it but securing it as well cause security in Bitcoin is very important too. Well the youths of our country are trying, I know about a number of them in my society who are well knowledged about Bitcoin and other cryptocurrencies.

[xiamin]

Inflation is so high in Nigeria in particular that ordinary citizens are very upset with the government's decisions. If I speak from my experience, I am associated with a small business and the price of almost every product has increased in the past few years, which is unimaginable. There is despair among the poor because they cannot meet their basic needs. They cannot feed their children.

It is true that one of the reasons why most Nigerians are turning to alternative systems is that they cannot trust fiat. Nigeria has come a long way in cryptocurrency adoption.

A statistic shows that more than 60% of citizens believe in long term cryptocurrency most of which are Bitcoin long term investments.

https://intelpoint.co/insights/over-60-of-nigerians-use-crypto-for-savings-and-long-term-investing/

[Queen uloma]

How many Africa countries don create Bitcoin reserve. All these na the questions wey you go ask yourself because na government involvement go make the citizens get more confidence on Bitcoin and adopt am. But when government no show any interest some people wey na only wetin government dey part of them see as legit, those people sef fo fit investing in Bitcoin but for now such people no go try am at all because them still no get the confidence in Bitcoin but our youths dey try Sha for the crypto space.

Government adoption na one of the biggest factors wey fit push the next major Bitcoin wave for Africa.. Once government begin hold Bitcoin as reserve asset, create clear regulations, or openly support the industry, plenty citizens wey still dey doubt am go gain confidence to enter…

We don see am for many sectors. When government support a new technology, banks, companies, investors and institutions go follow.. That kind confidence go spread fast pass individual adoption alone..
Although young Africans don already dey lead for crypto usage and Bitcoin awareness, but government involvement fit take adoption to another level entirely..

Government adoption na one of the biggest factor  way fit drive d next major wave for bitcoin adoption for Africa as a whole. While entrepreneurs, people way Dey use bitcoin don already play  good role for spreading bitcoin awareness.  government involvement fit accelerate adoption for much larger scale. As soon as government begin recognize bitcoin as real asset, set better regulations, or even hold bitcoin like part of national reserve, many people way they fear fit still gain confidence to invest in it. The reason y Many people no gree invest in bitcoin no be because dem no dey see d potential but becos dem no Dey sure of d legal status. government suppose support bitcoin because e fit help to reduce uncertainty. However government involvement alone no Dey enough. People still need to understand the opportunities and d risk aspect of bitcoin.