Africa as a continent as of recent been heavily going into cryptocurrency majorly by the citizens. This may be due to various reasons of which all cannot be over emphasized.
Countries like Nigeria, Ghana, Botswana, Kenya, South Africa and a host of others are the main countries into cryptocurrency as reported by gobitcoin.io a site which deals mainly with the Africa cryptocurrency news.
Atleast two or three of the above mentioned countries are like the leading countries of the continent of which most other African countries emulate. If the citizens of the rest countries in the continent move on with the trend of moving into cryptocurency then Africa might be in no time a giant in the continents with largest population of people who own a cryptocurency even though it's rarely mentioned now. Due to the fall of local currencies to Dollar which is the global currency, this will now lead me to what I want say today.
What if CRYPTOCURENCY TAKES OVER FROM USD AS THE CURRENCY FOR DOING INTERNATIONAL BUSINESS?. Well known to all, cryptocurency is an unregulated currency which makes life easier when dealing with international bodies. Basically, all countries in Africa has to trade in USD whenever they want to do business with an international body and this comes with a lot of side charges which may at times put the buyer or the seller on the loosing side. But this is not the same when it comes to cryptocurency especially BCH.
Of course when it comes to cryptocurency there are big names out there with likes of, Bitcoin, litecoin, monero, and a bunch of others but I specifically choosed Bitcoin cash because of its simplicity and a very low transaction charges when compared to other cryptos out there. I've been able to trade some coins out there and BCH turns out better.
Some positive side I think comes when trading in cryptocurency (BCH)
* Very little charges paid so profit is optimal.
* Unregulated. You can trade internationally with any amount and not breaking any law.
* Very secure and guaranteed. Unless you are dealing with a scammer, there can be no issues of failed transaction which can result in money loss.
* Not affected by the rise and fall of the country currency.
* It's untraceable.
Many more advantages is related to this which is not mentioned here.
Although the transaction been untraceable could be both good and bad.
However, adoptation of cryptocurency could leads to loss in the Nation/government side because all revenue generated through the charges placed on transactions perform will no more be there. This could be a major setback for cryptos to being adopted as a means of transaction by any African nation. And if by chance cryptocurency keeps getting stronger against USD in doing international transaction, then it should be ready to get regulated.
