How Bitcoin Helps Solve Unemployment In Africa
Bitcoin can facilitate economic growth and progress that would have never been possible under a fiat standard.African youth make up the largest demographic of the continent and yet they suffer the most due to underrepresentation in the government. However, Bitcoin fixes this.“The idea whose time has come” has unlocked the full potential of African youth who are set to not only contribute to hyperbitcoinization directly but most importantly make ends meet for their kin while thriving, not surviving.P2P TradingPeer-to-peer bitcoin trading is one avenue that African youth have embraced, thus....
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The Central African Republic (CAR)’s surprise bitcoin adoption decision once again shows that the top cryptocurrency can be an alternative to fiat currency. However, the African country still needs to invest heavily in its telecommunications infrastructure. The CAR also needs to prioritize education that helps the population to familiarize itself with cryptocurrency basics.
The CAR’s Expensive Internet
There is little doubt Central Africa Republic’s decision to designate bitcoin (BTC) as legal tender has surprised many. Few people expected CAR — one....
Bitcoin users in parts of Africa have an almost non-existent mining practice yet the virtual currency’s level of adoption is driving more Africans to its trade. Aside from a Ghanaian firm, Ghana Dot Com (GDC), which claimed it has launched the first Bitcoin mining facility in Africa in March, most mining efforts in parts of Africa are usually done on an individual basis or crowd mining with little or no chance of profitability. This is due to several factors. “I don't think anyone's doing any mining,” says Tim Akinbo, CEO of Nigeria-based TimbaObjects to CoinTelegraph. “Not with the power....
A growing number of Egyptians are reportedly turning to bitcoin amid rising unemployment and the economic crisis. An Egyptian bitcoin community is seeing a huge spike in the number of members interested in bitcoin mining and trading. Egyptians Increasingly Attracted to Bitcoin Many Egyptians are drawn to bitcoin amid the coronavirus pandemic, economic crisis, and resulting unemployment, Al-Monitor news outlet reported last week. A bitcoin mining and trading expert, Muhammad Abd el-Baseer, is a leading member of the Bitcoin Egypt Community, one of Egypt’s professional online....
Editor’s Note: This article has been changed to make the nature of the Bitcoin Africa Conference more clear. The name of this title is “Bitcoin Africa Conference,” and this is the first time the conference has been held. The author of this article was not saying that this Bitcoin conference is the very first one in Africa. We apologize for any misunderstanding. As you may know, the world’s first Bitcoin Africa Conference will be held on April 16-17, 2015 in Cape Town, South Africa. With all the buzz surrounding Bitcoin in Africa lately, it is no surprise that the first conference has made....
Crypto exchange Binance is the largest exchange in the world and one of the most widely used exchanges in Africa. It has found a market of loyal users in the Nigerian youth who have turned to crypto to combat growing unemployment and inflation rates in the country. Given this, the crypto exchange has founded a […]