Bitcoin Is ‘a Mechanism of Money Transfer Rather Than a Currency in and of Itself’

South African payments gateway PayFast added bitcoin as a payment method on its platform in July of last year, partnering with the BitX exchange and allowing buyers to make purchases using bitcoin at over 30,000 online sellers, who receive the South African currency rand in return.

Cointelegraph caught up with PayFast Managing Director Jonathan Smit to find out how it was going so far and what the future holds for bitcoin in Africa.