Many African consumers are fed up with the status quo of local currencies and existing payment platforms — and believe crypto could be the answer.
Africa News
Africa is the second largest continent in the world in terms of both territory and population. There are 55 states located on the continent. Economies in Africa differs from country to country. In Africa, cryptocurrency tends to be sold with a large trade margin which can even reach 100% due to several reasons. Firstly, Bitcoin in Africa is very difficult to mine because of the climate and lack of infrastructure. Also, cryptocurrency is in big demand in Africa as national currencies are vulnerable to hyperinflation. Besides that, since there are only a small number of virtual currency retailers they are able to set high prices. The relative financial stability of digital money and the opportunities for profit make cryptocurrencies very popular in Africa.
- Explained
- News
The well-known supporter of Bitcoin reveals he will spend up to half of 2020 in Africa, as interest in Bitcoin from the continent continues to reveal itself.
- News
by Helen Partz
Ghana is exploring a central bank digital currency “with the possibility of issuing” an e-cedi in the near future.
- News
Neil Bush — son and brother of two U.S presidents — is alleged to have been paid $300,000 to attend a meeting involving OneCoin co-founder and current fugitive ...
- News
Nigerian fintech Opay — founded by pro-crypto Opera browser — has sealed $120 million in a series B round from Chinese investors.
- News
by Joeri Cant
CEO of the Zimbabwean Golix cryptocurrency exchange claims to have lost the password to a cold wallet containing 33 Bitcoins.
- News
Peer-to-peer cryptocurrency trading platform Paxful has seen 2,800% more trades in South Africa this month compared to October 2018.
- News
Hackers have compromised the website of the city of Johannesburg, South Africa, and demanded ransom in Bitcoin.
- Expert Take
by Cyrus Ip
What could make South Africa become the next fastest-growing crypto market? How the country is emerging as a crypto leader of the continent.
- Analysis
by Henry Linver
Governments and private companies think that blockchain identity systems could empower citizens to take control of personal data.
- News
Keith Mali Chung — co-founder and president of African blockchain firm Loopblock Network — has returned almost $80,000 worth of Bitcoin mistakenly sent to his w...
- Analysis
Blockchain technology is finding real-world utility across Africa via public-private partnership agreements in solving some of the continent’s burning issues.
- News
Following a request from the public, Burundi has prohibited digital currency trading in the country due to a lack of protection for users.
- News
by Helen Partz
The president of Sierra Leone said that the government is planning to introduce a blockchain-based ID system by the end of 2019.
- News
by Helen Partz
Africa’s largest bank by assets, Standard Bank, has joined blockchain-based trade finance consortium, the Marco Polo Network.
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