Reasons for the Growing Bitcoin market in Africa

One reason is the fact that African governments no longer impose stringent regulations to Cryptocurrency.

Another factor spurring this growth is the fear for a probable collapse of the African banking industry or arbitrary appropriation of money.

Freedom of payment is a fact that is encouraging most Africans to embrace Cryptocurrency, given the various limitations that bank imposes such as rescheduling payments and closing business during holidays.

Bitcoins allow freedom payments just like other money transfer service providers such as WorldRemit and Azimo, which collaborate with services like Mpesa in Kenya to ensure convenient funds delivery to recipients. However, Bitcoins is more flexible to an extent that it allows users to be in control of their money since there is no central authority figure in its network, unlike the case with Azimo and WorldRemit.

Full article: TechMoran



Print Friendly, PDF & Email