Why Africa and Bitcoin are the perfect match

[bitcoincash]

Africa is a prime location for Bitcoin. Many African countries have struggling economies, meaning their fiat currencies are highly volatile. Bitcoin shares this characteristic and is also one of the most volatile digital currencies on the market. This is a benefit in Africa because it aligns with the status quo. It would be ideal if Bitcoin was less volatile, but this is not going to be a reason to put off African business owners – like it may be in the rest of the world.

Whereas a store in Europe may turn their back on Bitcoin because they can instead play it safe with the Euro or Pound Sterling, an African business may not be so opposed to Bitcoin for this reason and it may even be more stable than the country’s physical currency.

Another reason that Africa is the ideal setting for Bitcoin to flourish is because of the continent’s citizens already embracing mobile payments. Many locals already use services like M-Pesa, which allows Africans to transfer money with their smartphone across African borders. However, their services end at the continent and to send money further afield, Africans must use other companies that charge hefty fees. For those working elsewhere and sending money back home to African families, accepting Bitcoin would be a cost-effective solution.

WHERE BITCOIN IS ALREADY FLOURISHING

Mauritius – this African island is becoming known as the central hub of crypto in Africa after devising detailed regulations on its use.

South Africa – Another leading light is South Africa, which has also implemented regulations and has organisations dedicated to educating its citizens on how to use cryptocurrency safely.

Ghana – the central bank here has somewhat done a U-turn on cryptocurrencies and may be weakening their resolve. Ghana is also home to many successful Bitcoin startups such as BTCGhana and Bitland.

The widespread adoption of cryptocurrency around the world and within international businesses is likely to weaken the reluctance of African authorities to accept its presence.

[BenFormer]

Can't believe they perfectly match.
Never thought like this about Africa.