8 Ways Bitcoin Is Used In Africa
The use of Bitcoin, a form of cryptocurrency that is not controlled by any central authority, is quickly growing across Africa, especially in money transfer services where Africans living abroad are always looking for cheaper ways to send money back home for investment and other needs.
While there has been some resistance against the use of Bitcoin in countries like Kenya, where the central bank warned against its trade, and in Nigeria, where the regulator wants Bitcoin trading regulated on fears it could be used for money laundering, platforms dealing in the digital currency are on the rise across the continent as more people and businesses accept it.
In April 2015, Africa held its first ever Bitcoin conference in Cape Town, South Africa, and was followed up by another event in March this year, where the early cypto-currency adapters on the continent sought to raise awareness levels about its trade.
Here are 8 way Bitcoins is being used in Africa: