Talk of moving from a third world continent to a developing continent! Africa is significantly becoming a developed continent. It is time for Africa! Growth in all aspects. Politically, socially and economically. I am going to focus on the business sector. The Cryptocurrency world. Good news to Africans and to the world because these advancements is one thing to take pride on. The continent is exponentially embracing the digital world to make advancements in improving our livelihoods.
Africa development in terms of phone usage and internet access
Conferring to the GSM association findings, Africa is set to have 725 million mobile phone subscribers by this year. Isn’t this good news? We are slowly equipping ourselves with the essential tools for easy internet businesses. And to endeavor into the newly developing modern market. I can confidently say that this will definitely, if not, transforms us in to a modern continent.
Africans are learning how to use smart phones to be able to trade online and make incomes out of the readily available online markets. Physical money is gradually fading. The technology available is broadening the thinking capacity and helping Africans create networks that are constantly changing lives. Or, better said, cryptocurrency is altering African lives for the greater good.
Cryptocurrency is the new mode of medium of exchange. Not only are you able to control your financial transactions, but you can even create more units, and validate the transfer of your assets. It is deliberately taking a boom and is on set to flourish in the African continent.
Why cryptocurrency?
Cryptocurrency is not constrained to physical locations. It is internet based. Its trades are stored in a blockchain data base. This is a group of connected processors that record transactions in a ledger in the actual time. There is total safety of data.
The safety of your assets is guaranteed. The transactions are not open to anyone. Likewise, user’s information is well reserved and there is little possibility of identity larceny.
The crux of all this is that unlike the visa and master cards, it is not controlled by the government.it is owned by the internet. You also don’t even require middle men. You get to directly go first hand with your business relations through the internet.
It also serves to be beneficial to Africans who cannot access banking services and those that live in politically unstable countries. Thanks to bitcoin we can now advance from tradition banking and financial ways. I mean, what better way to eradicate this system of banking!
I am sure you are aware of some of the big cryptocurrency global trade marks available. The likes of bitcoin, Lite coin, XRP, Dash, Lisk and Monero. But most of you are conversant with bitcoin as it holds the biggest chunk in Africa.
Bitcoin extents
With Nigeria greatly excelling with bitcoin in Africa and even the world at large. This is the new current wave. And other African countries are joining in as well. Reports from the BBC indicate that Uganda is levelling up to be part. It is no doubt that countries with high inflation rates are susceptible to make more associations with bitcoin.
Sources from gobitcoin.io which is the official website to bitcoin news in Africa mentions some of the main countries that are in bitcoin. They include; Ghana, Kenya, south Africa, Malawi, Mozambique, Zambia, Zimbabwe, Egypt, and Botswana. They all have one thing in common. Inflation rates tend to be high, making their citizens to opt to bitcoin.
Conclusion
If you haven’t yet invested in bitcoin, what are you waiting for. If there is a platform currently in play that can make you evade problems like inflation in your country, why not take that chance. Use your phone to earn, and rather opt out in business that are just not adding value. Make owning that phone profitable in all means possible.
But first equip yourself with the knowledge about these cryptocurrencies. Similarly, learn how they operate. As they say there is no hurry in Africa, and for better decision making, it is better to take a lesson or two on how to go about it before you dive in. Industry specialists believe that cryptocurrency will stick around for years. So take you time, but don’t take too long.
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