In recent years, Africa has been seen to take great interest in the cryptocurrency market. Cryptocurrency is growing steadily in Africa, as more people are becoming more aware of their finances and looking at viable options to grow their money.
The advantages Bitcoin offers are numerous and also appealing to the average person serious about their finances. Nigeria, South Africa, and Ghana seem to be taking the lead so far in the crypto journey in Africa and it’s obvious now more than ever that cryptocurrency is here to stay.
It’s no longer news how the currency in most African countries has lost its value over the years. The normal economic cycle will always cause inflation and affect the value of money. However, this isn’t the case with bitcoin and other cryptocurrencies, as they do not follow the same rules that traditional banking systems follow.
They also aren’t controlled by the government and this means you have total control over your money. With your money stored in crypto, you will be preserving its value over the years, regardless of the economic situation in your country.
All things being equal, this devaluation won’t end any time soon due to the political instability African countries are known for. This is why more people are likely to trade crypto in the long run.
The advancement in technology has contributed to the rate at which people all over the world trade bitcoin today. The process is easier with apps such as the Bitcoin supreme trading app we have today. Several Africans would have found the process of trading bitcoin tedious if these apps hadn’t simplified it.
There are also new tech start-ups in Africa contributing greatly to the digital world in these countries, thereby making it easier for anyone to take advantage of simplified methods of payments.
The CEO of Twitter, Jack Dorsey, recently toured African countries and he did mention how convinced he was that “Africa will define the future of bitcoin”. From his visit to this continent, he could tell how much the technology has improved and how it could contribute to the growth of bitcoin in the long run.
It keeps getting better from here, as Africa continues to grow in numbers while building more tech giants. There are also more exchanges launching to Africa, to cater to more people, and as Africans continue to have options to make this journey easier for them, there will be more users in the long run. The government in Africa might not be effective as they should but the young vibrant Africans are ready to go out of their way to seek the easier way out. Even if it means trading and investing in bitcoin to preserve the value of their money and make easy transactions.
There’s more to expect from Africa in the crypto world. Bitcoin has had a good record over the years and it continues to spread, which means Africa has a great chance of survival and will fully embrace bitcoin and other cryptocurrencies with time.