Bitcoin is growing in Africa

Boubacar Diallo

According to many reports this week, Bitcoin is still booming in several African countries. From South Africa to the sub-Saharan region, citizens from all walks of life find Bitcoin very beneficial for their economies. This shows the volume of cryptocurrency exchanges and the number of specialized companies in the field. In addition, Bitcoin is trading today in these countries at higher prices.

Discover the following video detailing these reports:

Africans’ interest in Bitcoin
The digital currency is on the rise in Africa according to many reports and trend data revealed by Google. One of the groups Bitcoin is calling for is the millennia, reports the columnist Catherine Byaruhanga of Uganda. For example, a young resident of Kampala, Peace Akware, hopes her investment in Bitcoin will increase enough for her to buy a vehicle and maybe even buy land one day.

Gerd Altmann, Source: Pixabay

Another person from Kampala, Martin Serugga, teaches the world of crypto-currencies in his school over thousands of years ago that more than 50 students attend. He teaches them how to invest in virtual currencies. Other reports indicate that since the economic and political crises in South Africa, people have become interested in Bitcoin. The trading company, Etoro, saw a rise in users in March when Finance Minister Pravin Gordhan was sacked.

The volume of transactions is rising
More populated areas such as Sudan, South Africa and Kenya continue to increase adoption rates. The Marketing Manager of Luno Digital Business, Werner Van Rooyen, says that thousands of transactions are carried out each week by South Africans. In addition, the recent resignation of Robert Mugabe has caused Zimbabwe’s Bitcoin prices to rise relative to the world average.

Digital security expert Neil Blazevic believes that these emerging technologies can transform Africa just like the telecommunications system.

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