Why Bitcoin's adoption in Africa may not first be institutional.

[Little _damsel]

The West adopted bitcoin early by choice, while Africa adopted by necessity.

Where banks fail and currencies collapse, people don’t wait for ETF approval. They use P2P lightning to solve real problems today.
Freelancers, remittances, informal trade. When Bitcoin saves 15% fees and 3 days wait, adoption spreads itself, no marketing needed.

When people use it quietly that  proves it work. Once volume is too big to ignore, banks and regulators join in to tax or regulate it.
Bitcoin doesn’t need approval to work where fiat is broken, and that’s most of Africa right now.

[Cookdata]

Freelancers are already making use of bitcoin as it has made their work easier, and I'm one of them, before I find it hard to join some kind of survey which their payment means is only cash app or PayPal, which I don't have an accounts or receive the pay from in my country with bitcoin it's now very possible even as few clients I have worked with prefer to pay with USDT everything crypto gain its popularity through bitcoin success.

Bitcoin pave way but freelancing should still be powered by Bitcoin and not USDT. I have done some gigs for some countries and I wanted them to pay me in Bitcoin but the companies refused, they paid me in USDC instead. I didn't like it but I can't forsake my money on their hands. There is flexibility if you get paid in Bitcoin than when you use other method, the company that paid you can report your wallet and money can get seize, that's why I don't like stable. 

Why I don't like stable coins is other than the fact that it's centralized, the government is starting to move funny. Early this month, the Nigerian government received a letter from IMF to regulate stable coins because it's affecting their economic stability and I know very damn well they are going to act on the instructions so they don't get denied of their loans. If it's Bitcoin, I would care less about what they think about the regulations, not like I keep Bitcoin on any exchange to worry about it.

[Franctoshi]

I'm talking Africa now because the countries in that region are usually referred to as developing countries, instead of developed countries and we can see why because, they share the same institutional issues like; currency instability inflation pressure and weak banking trust.

They also share high youth population, and just recently starting to experience and increased entrepreneurship culture and the need for  cross border payments.

As a result But in in the African region may not be adopted through institutions, we could see it's adoption through measures like; informal trade, freelancing, remittances.

Right now Bitcoins adoption is taking the underground route, but not for long, as its getting to a stage where it's unavoidable.

Even in the developed countries or in the western countries today Bitcoin was not first being adopted by so-called institutions, it started with ordinary individual believers of Bitcoin like me and you before the start of major institutional adoption kicks in. So what you are seeing today within the African set, is a normal process taking place, there's a time that institutions, hedge funds, and other asset managers in Africa would have no option other than start to queue in when their customers demand for Bitcoin exposure begin to increase rapidly.

[coupable]

The West adopted bitcoin early by choice, while Africa adopted by necessity.

Where banks fail and currencies collapse, people don’t wait for ETF approval. They use P2P lightning to solve real problems today.
Freelancers, remittances, informal trade. When Bitcoin saves 15% fees and 3 days wait, adoption spreads itself, no marketing needed.

When people use it quietly that  proves it work. Once volume is too big to ignore, banks and regulators join in to tax or regulate it.
Bitcoin doesn’t need approval to work where fiat is broken, and that’s most of Africa right now.

But I think your analysis applies also for the West in early stages, and then the situation repeats itself with Africa and in all other continents as well. To be precise, Bitcoin saves more than 90% in fees on average since the fees are calculated based on the volume of the transaction, not on how big the amount is. This advantage, in addition to borderless limitations, incentivizes people everywhere to practice trading as the easiest way of investing and freelancers to enjoy their payments in full far from the monitoring eye of the authorities.

Reading replies in this thread, I think Bitcoin's adoption has never been first institutional.

[LFC_Bitcoin]

Bitcoin is a huge positive for people in Africa because a lot of people don’t have easy access to banks but they can use Bitcoin with just a phone and internet connection.

It can also help people send and receive money across countries faster and sometimes cheaper than traditional services.

In places where local currencies lose value quickly Bitcoin can give people another way to store their money. We all know that it has risks and price swings but it gives many people more financial options and freedom.

[Hamza2424]

As a result But in in the African region may not be adopted through institutions, we could see it's adoption through measures like; informal trade, freelancing, remittances.

Right now Bitcoins adoption is taking the underground route, but not for long, as its getting to a stage where it's unavoidable.

A few days ago I read a topic can the world survive without Africa and now we are discussing a country because it is developing and I agree with this fact as it is not completely developed no matter if they are importing and exporting at a large scale and doing business.

I don't know much about the whole region, but so far from what I have read online on BTT from you guys, I also think you guys don't know anything haha.

Anyway, bro if governments won't be accepting BTC and won't form legal frameworks then they are losing money because with legal taxation and frameworks they could earn money, but as far as I know some African countries have taxation and crypto adoption. As I think there are 58 countries in Africa, right? So even if not every single one of them is developing and making money, at least they are making money using the internet and providing their services. I have seen many writers and editors for big brands who are living in Kenya and working for them, making money, and there are hundreds of Nigerians earning money from this single platform as well.

[Orpichukwu]

Is Bitcoin adoption not already popular in African countries already? Why bring up institutional investments? It means here as another means for adoption to spread in Africa; if there are any institutional stands that are to come in, it will be through the demand and popularity of Bitcoin in Africa that will convince asset managers here to introduce Bitcoin ETFs or whatever institutions do to buy and hold for their investors.

[tbct_mt2]

Bitcoin is a huge positive for people in Africa because a lot of people don’t have easy access to banks but they can use Bitcoin with just a phone and internet connection.

It can also help people send and receive money across countries faster and sometimes cheaper than traditional services.

In places where local currencies lose value quickly Bitcoin can give people another way to store their money. We all know that it has risks and price swings but it gives many people more financial options and freedom.

With Bitcoin blockchain and Bitcoin non-custodial wallets, they can broadcast Bitcoin transactions by themselves to Bitcoin mempools, and wait for confirmations from Bitcoin miners. Bitcoin blockchain is decentralized and censorship-resistant so it means people who don't have access to banks can use Bitcoin blockchain easily without restrictions.

There is no middle party like banks to censor bank transfers with Bitcoin transactions, and people who're living in Africa can use this blockchain easily. It's accessible and also feasible in on-chain transaction fees for them and it gives locals there a very practical paradigm shift for their money transfers and business deals.

Global Digital Asset Adoption: Sub-Saharan Africa.